Truth or rumor? Are maintenance fees increasing beyond what should be normal at this time? Does the timeshare owner have any control over that...like built in contractual limits? (or something?)
Anyone experiencing this fee increase?

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Camama

Mine certainly have and to top it off our annual income, investments, savings and other things have been affected by the economy, so the timeshare has become something that must go. Definitely want to sell the timeshare NOW! What will happen if I don't pay the maintenance fees for my timeshare? Can I still sell it? I would price it very well and ask only that the buyer pay the timeshares dues.

A timeshares maintenance fees and taxes generally do increase over the years in varying degrees as does most everything in life. I think across the board MF's have increased recently at about the same rate as ever, but I'm sure there are certain timeshare resorts and/or areas that have seen a spike in this increase(perhaps even coupled with Special Assessments issued from the resort developer/management company for upgrades/repairs/etc).

Yes and no. Usually, maintenance fee cost is established by the timeshare resort developer or homeowners association. In some cases there are owner committees/boards to which each owner can belong and/or elect a person to represent them with decisions of this nature at the associations meetings.

If you do not keep up your maintenance fee payments you could lose your timeshare vacation usage rights until you have paid in full or ultimately have your week(s) repossessed if that's in the bylaw/contract/constitution of your resort.

If you find that you cannot pay your maintenance fees it is important that you contact your resort management company. There are some timeshare resort development/management companies that will allow you to surrender your timeshare as a final option, but in all cases it is vital that you contact your timeshare resort developer/management company in a timely manner in order to seek an alternate resolution.

You may be able market the timeshare to be sold prior to paying your MF's, but ultimately these things will have to be satisfied in order to legally transfer the timeshare from seller to buyer. I would think a reasonable and perhaps creative way to do this could be established between buyer and seller near the time of sale/closing, especially if the timeshare is priced well.

Hope this help you - Happy 2009! AClimb1

As a timeshare user (though a relatively new user), I understand that the maintenance fee for a unit is never constant and it differs according to various factors. Some of the important factors include the type of unit, season, and location.

My doubt is about the taxes that we pay as part of our MF. Is it constant for all units? Or does it increase/decrease according to the size of the unit, location, and season as well? I'd appreciate if you guys could share some information on this issue.

If you referring to time share property taxes, I believe they will flucuate slighty based upon the tax appraisers evaluation each year. When the property value goes up the property taxes will too.

Parker

If the place is very old, they usually spend a lot on maintenance and stuff like that. So, naturally, your MF will be slightly higher. If it's relatively new, there is usually no need for routine maintenance. So, your MF could be lower.

Also, you need to take inflation into account. The way I see it, a 5% increase in maintenance fees seems to be common these days. And thanks to the bad economy, the costs of maintaining the property have gone up considerably. So, as a result, the developer has no choice but to increase the maintenance fees.

Back to the property tax issue...how does the assessor determine the value? Is it based on original purchase price or resale value? Out here in California the property value is reassessed upon change of ownership. Does anyone have an experience with this???

I think Ken Chi is saying his taxes are included with the maintenance fees. Is that so?

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Camama