Timeshare maintenance fees seem to get a lot of bad press, with complaints ranging from simply having to pay them to accusations that buyers were never informed about maintenance fees at the time of purchase. The unavoidable fact is that maintenance fees are unavoidable whether in a fully owned private condo or a timeshare complex. One way or another your property has to be repaired, conditioned and generally maintained so that when you do use it, your experience is one worth having.
So let’s take a look at some of the common myths associated with maintenance fees:
1. Optional
Unfortunately and fortunately, maintenance fees are not optional. All owners are expected to pay their share of the maintenance costs. In timeshare properties this is divided between all owners so as to make it a reasonable cost to ensure that your unit is just as you like it when you take your next vacation.
Also, it is important to note that legally you do not have an option to stop paying your maintenance fees. If you fail to keep up with your payments you are likely to face legal proceedings.
2. Waste of Money
Maintaining your property is part of securing your initial investment. Over time, furniture and the installations will naturally deteriorate, and timeshare maintenance fees ensure that all the necessary repairs are kept up to date. Your fees also cover the replacement of furniture and other appliances, so that your property looks as good as new.
3. A Scam
Many people see maintenance fees as a scam. However, all buyers of timeshare properties from reputable companies should be made fully aware of the need to pay maintenance fees; in addition to which the information should be clearly stated in the initial contract. Maintenance fees are not scams but a necessary part of your long term enjoyment.
It is worth noting that scams may arise if the timeshare resort has not yet be finished and you are paying fees to maintain a property that does not exist, nor likely to be finished. If you suspect that you have been subject to a deliberate scam, then you should contact a lawyer or timeshare attorney.
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