Timeshares have become a popular way for people to invest in their vacations and relaxation. When you sign a contract for a timeshare, you’re becoming a part-owner of a vacation property. You’ll have windows of time or a number of credits you can use to vacation with your friends and family. This can be a great way to stay in an amazing location for spring break, an anniversary, or for another special vacation. However, your timeshare contract may also include some additional features of which you aren’t aware.
Timeshare maintenance fees are one of the ways your timeshare agreement can surprise you and not in a good way. Many timeshare owners are discovering that timeshare maintenance fees gouge them every year, and continue as time goes on. Today at Easy Timeshare Relief we are sharing what we’ve learned about timeshare maintenance fees, what they cover, and exactly what you need to know as a timeshare owner or if you’re shopping for a timeshare.
What Are Timeshare Maintenance Fees?
Every timeshare contract is different, but most include a mortgage or monthly installment as part of your ownership of the vacation property. This mortgage will eventually be paid off, and can sometimes be refinanced. Your contract and these payments actually give you a deed to the property. The deed will belong to your estate and family, even after you die.
Because of this deed and the partial ownership, you will be responsible for timeshare maintenance fees. Usually, these fees are yearly, although they can be dispersed on a different payment schedule. Even if you pay off your mortgage for the timeshare ownership, timeshare maintenance fees will continue to incur.
What is Covered in Timeshare Maintenance Fees?
Again, the particulars of your timeshare contract will need to be carefully reviewed by our timeshare experts at Easy Timeshare Relief, but timeshare maintenance fees are designed to cover everything that keeps the timeshare running. Timeshare maintenance fees often cover cleaning, pool and facility maintenance, landscaping, snow removal, taxes, and upgrades, although there might be many other applications of your timeshare maintenance fees.
How Much Will I Pay For Timeshare Maintenance Fees?
Timeshare maintenance fees are one very deceptive part of your timeshare contract. While you may be very clear about the mortgage portion of your payments, the maintenance fees can change without notice and without much communication. Even when your timeshare mortgage is paid off you can find yourself paying close to $1000 a year with no way of getting out of it.
If you fail to pay your timeshare maintenance fees you will receive aggressive phone calls, threatening letters, hits to your credit, wage garnishment, and more. Do you know how much you will have to pay for your timeshare maintenance fees? Do you know what they cover? Are they fixed or will they grow over time?
At Easy Timeshare Relief, we know all the ins and outs of timeshare contracts. We can help you get out of your predatory timeshare contract, including your extreme timeshare maintenance fees. Call us today to talk about your timeshare contract.