Timeshare maintenance fee rises push owners to consider compensation claims

Timeshare maintenance fee rises push owners to consider compensation claims

The timeshare industry is renowned for its murky approach to calculating maintenance fee rates. In fact, maintenance fees are an oft-complained about bugbear for many timeshare owners.

“We often find that maintenance fees are the final straw that push timeshare owners to find out what options may be open to them in terms of exiting their contract and seeking compensation. The unregulated nature of the fees means that timeshare companies can increase them as much as they wish each year, with fees usually far outstripping the rate of inflation. For many owners, the cost becomes untenable over time.”

Jodi Beard, Timeshare Compensation

The latest resort to attract anger from its owners as a result of its maintenance fees is St George’s Club in Bermuda. Members’ fees shot up at the end of 2017, with one owner reporting an increase of more than 60% to his annual maintenance fees.

“We love Bermuda and that is why we bought the timeshare. We have been coming to Bermuda for well over 20 years. I consider it my second home, but this action by the St George’s Club cannot be supported or condoned.”

Timeshare owner, St George’s Club

St George’s Club has advised that the increase is to get rid of the club’s deficit. However, some owners believe that the increase is being used as part of the resort’s move to a hotel model. Many buyers have already exited the scheme as part of the move. Some of those remaining assert that the excessive fee increase is designed to push more owners out.

“Whatever the motivation behind the fee increase at St George’s Club, it is clear that timeshare owners are feeling the pain right now. With timeshare contracts usually allowing for fee increases to be made at the resort’s discretion, owners have very little recourse when it comes to fighting steep increases of this nature.”

Belinda Rollins, Timeshare.lawyer

It is a familiar story to anyone who knows the timeshare industry. For those working on behalf of owners to help them exit their contacts and claim compensation, such as
Timeshare Compensation, the fact that fees are in no way linked to inflation remains one of the most scandalous parts of the whole industry.

“You see few other business models these days where fee increases of this nature are so unstructured and unregulated. Many timeshare owners have essentially signed up to a lifetime commitment in terms of maintenance fees, but with absolutely nothing in place to protect them from meteoric increases. It’s no wonder that many timeshare owners feel so angry and frustrated with their resort – not to mention helpless – when annual fee increases are announced. Thankfully, that’s why organisations like Timeshare Compensation are here to help!”

Jodi Beard, Timeshare Compensation

For more information, please visit www.TimeshareCompensation.co.uk, call 0800 046 5855 or email Info@TimeshareCompensation.co.uk.

Timeshare Compensation and Timeshare.lawyer are a trading names of Advanced Business Consultants Legal SL.

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