Timeshare Maintenance Fees

Maintenance fees have always been a part of Timeshare contracts. In the past, these maintenance fees represented good value for money, with Timeshare owners paying a fraction of the cost of renting a similar property for the same period of time.

However, Timeshare companies soon realised the money-making potential of these fees and began charging unreasonable amounts of money to Timeshare owners. The cost of these maintenance fees often surpassed the rent on a similar property for the same period of time.

 

Why won’t Timeshare companies let you get out of your contract?

With rising maintenance fees, many people became eager to get help leaving Timeshare. The huge cost of keeping the property meant that many owners felt they had to get rid of Timeshare.

However, the main source of revenue for many Timeshare companies is maintenance fees. Because of this, Timeshare companies will stop at nothing to keep you locked into your contract. Contracts are often written with the intent of continuously forcing people to pay maintenance fees and many times are “in perpetuity,” essentially meaning that the contract never runs out.

 

If your current maintenance annual charge is £500 – in 10 years time you could be paying £3,057 per year.

Your total maintenance bill for a 20 year period could be as much as £28,637

 

What can Timeshare owners do to get out?

Many Timeshare owners make the mistake of tackling the problem alone. This often results in more problems being created due to the complex legalities surrounding the Timeshare industry.

There are conditions which can give owners a strong case for Timeshare relinquishment, however. If you have been lied to at any point in the process, or if information was withheld from you, you may be able to take action to terminate your timeshare contract.

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