If you are an owner who is unhappy with timeshare points then you are certainly not alone. For many points owners the reality of the product has fallen way short of the wonderful dream that was painted by the timeshare salesperson who originally sold them. The rising yearly fees combined with a diminishing value for money has created a growing number of unhappy and disillusioned points owners who are behind the wave of successful timeshare compensation cases being brought to court.
Not The Exclusive Product It Was made Out To Be
Obviously there must have been something attractive about this holiday product in order for people to have parted with their hard earned cash in the first place. Promises of exclusive access to high end accommodation were often nothing more than high pressure sales tactics and new owners were finding that the so called exclusivity simply did not exist with ordinary holiday makers being able to book into these supposedly private resorts without being a member – and very often for considerably less money.
In short, the high costs associated with the timeshare points system are unnecessary. Exclusive resorts that are supposedly only available to members can be booked cheaply online from owners who are renting out their apartments at bargain prices because they are unable to use the holiday time themselves.
A Lack Of Timeshare Availability
Another reason that causes owners to become disillusioned with their points ownership is the serious lack of timeshare availability. When they were originally sold the points they were told they could access the most sought after property in the most exclusive destinations whenever they desired – any time, any place, anywhere.
The unfortunate reality behind these claims is that there simply isn’t the sort of availability needed to facilitate this sort of demand. There are a number of key reasons for this shortfall with number one on the list being outside rentals to members of the public. Some timeshare companies are renting precious space on the open market – using the internet or travel agents – to the detriment of genuine owners who have been promised high levels of access.
There’s also the question of overselling where a developer sells out a unit more times than can work in the system. Most companies say they sell 51 weeks in each apartment leaving one week for maintenance. This type of system would give everyone a fair bite of the cherry when it comes to making exchanges. However, some resorts have been oversold two or three times more than this meaning owners struggle even to access their own apartment in their own week.
Trapped In A Nightmare
Understandably, owners who are experiencing disappointing exchanges, high costs and lack of availability are going to want to get rid of a product that isn’t doing what was promised. The problem is that the developers and timeshare companies need the owners to stay and pay their annual maintenance fees so are unwilling to help them exit the system. In fact their business model relies on these ongoing fees so many owners are bound to perpetuity contracts which not only tie them into the contract for the rest of their lives but also is handed on to their children creating a huge financial burden for generations to come.
These are some of the big lies that give timeshare a bad reputation:
- You can hand it back at anytime
- There is always availability
- You can sell your timeshare for more than you paid
- You can always get accommodation during school holidays
Why Can’t I Sell?
One of the questions we hear frequently is: “Why can’t I sell my points?”. Owners are genuinely surprised when they come to sell that there is no resale market. This surprise stems from the fact that one of the key elements of a timeshare sales pitch is that timeshare is an investment that will go up in value as the years go by. This is a lie. Second hand timeshares can be picked up on the internet for as little as 99p meaning that any potential resale value for timeshare points is just a figment of the salesperson’s imagination.
Timeshare companies and developers rarely offer a resale facility – after all there’s far more profit in selling their own weeks than those of an owner. They will also refuse to take back your timeshare as they need owners to continue to pay their yearly maintenance fees in order to keep the resorts running smoothly.
Unfortunately this situation leads to desperation and where there are desperate people you will always find the sharks. On the back of the non-existent resale market, companies have sprung up offering resale services. These companies take upfront payments in agreement to market and sell the timeshare but almost never fulfil their part of the bargain leaving the unhappy owner even more out of pocket and still encumbered by an unwanted holiday product.
How Can You Exit Timeshare Once And For All?
The world of international timeshare contract law is complex and difficult to navigate. In order to achieve a successful and unequivocal exit from your points ownership it is vital to engage the help of an expert professional. The Timeshare Help Centre has a wealth of experience in this field and considerable success in contract cancellation and compensation claims. If you would like free impartial advice on how to get rid of your timeshare once and for all then get in touch with us today.