Through our extensive contact with timeshare owners who are trying to relinquish their contracts we have discovered that many are happy with the product and only wish to exit the system for financial reasons. However, for those who are unhappy, one of the key reasons that comes up time and time again is the lack of timeshare availability.
These owners were originally sold a dream that involved owning their own apartment in a luxury resort where they could visit during a certain timeframe or – and this is the benefit that hooked many a hopeful holidaymaker – exchange their apartment for one of similar quality and dimension in thousands of resorts in hundreds of desirable destinations around the world.
Sadly the dream didn’t always live up to the reality and many owners discovered that not only were they unable to book exchanges in far flung exotic spots at the times they required but crucially they were unable to get the access to their own apartments at their home resorts. This lack of availability should not be happening on such a grand scale but it seems that the shoddy practices of many developers’ sales and marketing teams have created a key problem with the global timeshare system.
Overselling Creates A Lack Of Availability
One of the main factors that contributes to the lack of timeshare availability is that some timeshare companies oversell their resorts. Whilst they might say that each unit is split into weekly segments and only 51 are sold to the customers whilst one week is kept aside for maintenance purposes, the reality is that timeshare weeks can be sold many times over creating a huge headache when two owners want to visit at the same time. Families with children are often the ones to be inconvenienced the most as they are unable to secure accommodation during the busy school holidays – very often the main reason that they bought the product in the first place.
Whilst overselling creates significant problems with the reservation process there are other factors that contribute to the lack of timeshare availability. Some developers are cutting their losses and selling off parts or even whole resorts meaning there are less timeshare units left to cater for demand.
Another reason for low availability and one that causes much consternation amongst owners is timeshare companies putting their accommodation onto the open market for the purpose of holiday rentals. Not only does this practice use up valuable space but it also ruins the notion that the timeshare resort is an exclusive, private members club just for the owners. If you had paid many thousands to enjoy that exclusivity then it is understandable that you would be annoyed at having to share your private resort with someone who simply booked an apartment on an internet website.
Upselling And Mis Selling
Unfortunately, rather than finding a fair solution to the timeshare availability issue, some companies see an owner’s discontent as an opportunity to sell them more holiday product. If an owner, for example, is having trouble getting the exchanges they want with their one bedroom apartment the sales person will convince them that they need a two bedroom unit to ensure adequate trading power within the exchange system. More often than not the sales person will insist that if the owner buys the two bedroom apartment then they will sell on the unwanted one bedroom and cover the cost of the new purchase. This part of the deal almost never happens and the owner is left with two apartments and two maintenance fees to cover.
Obviously, failing on promises to provide incredible exchange opportunities, guaranteed access to a certain apartment and week or a guaranteed sale of an old apartment that never happens are all examples of mis selling. If you feel that you are a victim of this type of malpractice then it is vital that you seek the help of professionals with experience in the field of international contract law.
The Timeshare Help Centre is here to provide you with free impartial advice and will assess your situation and suggest a process to relinquish your timeshare or, as in many cases, pursue a claim for compensation. Get in touch with us today to see how we can help you exit the timeshare system once and for all.