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Timeshares can be an okay option for many travelers, but they can also bring many problems. Learn the most common timeshare problems and how to get out of them
There are lots of misunderstandings regarding timeshares.
The basic idea about them is simple enough-you own the right to use a luxury suite in paradise every year- but it seems almost too good to be true.
Even though many people love them, timeshares have been categorized several times as one of the worst purchases you could ever make by many financial magazines.
Know the most common timeshare problems and how to avoid timeshare scams.
Timeshare Industry
The timeshare industry is very complex and controversial. Some people love it, some people hate it; there are no uncertain terms.
The truth is that the sale of vacation ownership is an extremely profitable business for the timeshare companies, being that they have the possibility to sell each unit to 52 different owners, one for each week of the year.
But, what about the buyers? Is it a good deal for them too? Unfortunately, many timeshare purchasers feel they were scammed and are not completely satisfied with their membership.
Even though timeshare sales are growing, so are timeshare scams.
Due to the increase in fraud, the high prices of the units, the lack of flexibility in the timeshare programs, and the deceitful sales practices, the timeshare industry has gained a terrible reputation.
To improve their reputation, timeshare resorts must perform a deep cleaning, or else they will be seriously affected.
Timeshare Problems: The Most Common
These are the 10 most common timeshare problems:
- Lack of flexibility: Most timeshares are sold under a fixed-weeks program, which means you have the right to use the timeshare during a certain week of the year at a specific resort; therefore, timeshares are not for people who like to travel spontaneously and even in the most flexible plans; you will always be attached to the resort.
If you’d like to know more about timeshare plans, go to our article, "how do timeshares work?"
- High timeshare maintenance fees: In addition to the purchase price and the down payment, you have to pay monthly maintenance fees, which are likely to increase significantly each year.
- The harassing timeshare salespeople: They are everywhere! In every popular vacation spot, there are basically hundreds of timeshare salespeople trying to convince you and your family to attend a timeshare presentation.
- The misleading sales practices: Timeshare presentations are known for being very long-lasting, high-pressure and full of lies. Salespeople make lots of verbal promises without any written confirmation of them, and to be honest, do you really want to spend your vacation time listening to a timeshare sales pitch?
- The impossibility of getting rid of one: Ok, it’s not impossible to get rid of a timeshare, but it is extremely difficult.
Even though there are several solutions regarding unwanted timeshares, most of them turn into dead ends and a big headache for many timeshare owners.
- The strings attached to the resort: Owning a timeshare means that you will be attached to the resort where you purchased the vacation membership for a very long period, which can be very frustrating and monotonous.
- The Hidden fees: In addition to the maintenance fees, it is very likely that you will be charged for special assessment fees and yearly membership fees.
- They are difficult to rent: If for any reason you are not able to use your timeshare in a certain year, it is not very probable that you can rent out your weeks, regardless of what the sales reps might have told you.
First, you need to join a rental program, and then wait for someone who is interested in renting your weeks, but that can take a little while.
- They are difficult to swap: Many people buy timeshares with the intention to traveling around the world. Big mistake.
While there are many timeshare exchange companies, most times you need to wait for over a year to find someone who is interested in exchanging his timeshare with yours, and additional fees will be charged.
- Timeshares do not appreciate: Timeshares do not go up in value, in fact, they lose over 50% of their value at the moment the purchase is made.
That’s why a timeshare should never be considered a financial investment.
How do I Get Out?
To be honest, getting rid of a timeshare is not as easy as buying one. In fact, there are many timeshare owners who are willing to give away theirs, even for free.
However, it is important to know that every timeshare contract has a rescission period. This rescission period depends on the timeshare law regulations of the city or country where the purchase was made.
What if the rescission period has expired?
Most timeshare problems begin after the rescission period has expired; however, there are several ways to get out of a timeshare contract legally.
Some choose to sell the timeshare, and although the idea is simple, the process is very complicated, since the supply greatly exceeds the demand.
Some others want to donate their timeshare, but most charity organizations are not taking timeshares because they are not willing to pay the expensive fees.
The good news is that timeshare cancellation is possible, even when the rescission period has already expired.
At Mexican Timeshare Solutions, we assist timeshare purchasers who feel they were scammed by the developer.
MTS is a legitimate company that works on a contingency basis and only collects fees if your contract is properly canceled, otherwise, no fee is charged.
Contact us today for a free consultation and release yourself from your timeshare problems.
To receive more information about timeshare problems and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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We tried many things to quit, by the way we didnt find the way to get out, for us its to difficult to fight against them, we are old and we dont want any legal problems.
Me dirijo a Uds., porque consulte vuestra página Web y se ocupan de problemas con Tiempo Compartido.
Procedo a informarles mi situación.
Empezamos a tener serias dificultades y trámites engorrosos para poder usar una semana en una recamara en Cancún en el Sunset Beach Club, que adquirimos en 1994, por lo que en 2013 dejamos de abonar la membresía. Nuestro contrato vence en diciembre 2020
En 1994 Antes de decidir la compra de una Unidad en Promotora Sunset Beach Club, les consultamos que pasaba si por cualquier causa interna (enfermedad, quiebra económica, etc.), o externa, situación económica de nuestro país, por ejemplo en los 2 último años, nuestra moneda se deprecio frente al dolar americano más de un 100%, no podíamos pagar en el futuro las cuotas de la membresía, y se nos informó y se puso en el contrato firmado lo siguiente:
Entendemos y Reconocemos que No cumplir con cualquier pago al costo de la membresía en las fechas especificadas para su pago o no lograr cumplir con el precio de la Membresía o por incumplimiento de las obligaciones a nuestro cargo derivadas del contrato y el Reglamento Interno del club (que nunca recibimos), esto constituirá incumplimiento para efectos de este contrato y la Vendedora podrá retener todos los pagos efectuados por nosotros hasta este momento y disponer libremente de la Membresía.
Le consulto porque no ejecutaron esta cláusula?. De hecho no hicimos más uso de la unidad.
Les informo que en ninguna parte del contrato informan por escrito que SUNSET pueden exigir el cobro de la membresía, agregar los intereses y gastos administrativos que les plazca, y lo mas grave disponer la Venta de la deuda a terceros, como lo han hecho.
Ahora la empresa a cargo del cobro de la deuda me exige que reconozca o rechace la deuda en 30días de haber recibido una nota o pida que me entreguen los comprobantes que acreditan la misma.
Por lo expuesto solicito me indiquen como se debe actuar en estos casos?
Muchas gracias y saludos
Fernando
MI SR. PADRE ADQUIRIÓ UN TIEMPO COMPARTIDO EN ROYAL HOLIDAY CLUB. YA SE PAGO EN SU TOTALIDAD PERO NOS QUEREMOS DESHACER DE EL POR LOS PAGOS DE MANTENIMIENTO QUE NOS COBRAN CADA AÑO Y NO LO USAMOS Y POR QUE DESPUÉS DE PAGARLO EN SU TOTALIDAD AHORA NOS COBRAN EL TODO INCLUIDO A FUERZA.
Es la pregunta del millon, ya llevo meses intentando cancelar mi tiempo compartido y me es imposible, ocupo ayuda profesional , no puedo seguir manteniendo esto..ademas de que no es nada de lo que me prometieron , casi ni lo puedo usar y me cobran como si viviera casi casi en el , saludos.
Actually is very difficult to get out of a timeshare, but is not impossible, my parents nowdays are involved on a timeshare cancellation process, they bought a resort in mexico , their error was that they signed a contract without read carefully the contract , so pls stay awake and avoid timeshare stuff.
I think that anywhere in the world we are exposed to this type of fraud,i mean , timeshare scam, however you have to be very careful in what resorts offer, for example ,me in mexico i had a very desagrdable experience with a resort, luckily im out right now the timeshare, was a crazy thing
es un conjunto de todo eso para que al cabo de poco tiempo la mayoria de la gente busque nada mas que cancelar!!!
para las personas que nos encanta la aventura y planear vacaciones espontaneamente no creo que un tiempo compartido sea lo nuestro, ademas de que te ponen muchisimos peros :S
realmente me gustaria poder descansar de tanto estres que me esta provocando este tema, podrian ayudarme a cancelar?
We also have a week timeshare we want to get rid of as the annual maintenance fees are getting so high and its getting more difficult to get the holiday bookings we want.
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