Christmas is fast approaching. That means magic, mince pies, and merriment… for most of us. However, for timeshare owners, it usually also means maintenance fees.
Maintenance fees are the annual levies that the resort or developer charges. These fees are shared out amongst all timeshare owners. Covering everything from upkeep of the grounds to apartment refurbishments, they are an important part of timeshare ownership.
However, maintenance fees can be very costly. They range in price from around £350 to around £1200. This amount does depend on the size of your apartment or the number of points you own. But nevertheless, it is a annual responsibility that, for some, becomes a burden.
Maintenance Fees: Are They Worth It For You?
Do you make the most of your maintenance fee payment by using your apartment every year? If you are no longer able to travel or your circumstances have changed, probably not. The money you pay for your maintenance fees is, in this case, most likely going to waste.
So what are your options? If you don’t pay your maintenance fees, at best the resort will repossess the apartment. At worst, you run the risk of a visit from the debt collectors. Therefore it is very important to continue paying your maintenance fees every year. While some resort developers have a surrender policy, most do not. Owners have to pay their maintenance fees until their lease runs out or, in some cases, in perpetuity. What can they do to avoid having to pay these fees?
This is an ideal time to consider selling your timeshare. With a reputable timeshare broker such as Travel and Leisure Group, you are in safe hands from beginning to end. We offer a free listing on our database. You can also choose to take out one of our optional advertising packages should you wish. All monies involved when a sale is achieved are deposited into a trust account administered by FNTC. And, because we’re entering our 28th year of business, our industry know-how is unparalleled.
Alternatively, if you’re looking to buy timeshare, take advantage of discounts of up to eighty percent on developers’ prices, along with a wealth of knowledge about timeshare resorts worldwide.
Travel and Leisure Group: safe hands in an uncertain world.
This post was originally published on 10 Oct 2017 and updated on 27 Nov 2019.