Timeshare Freedom Amid COVID-19

If 2020 looks significantly different than you imagined it would, well, you’re not alone.

In these uncertain times, it makes sense that you might be looking at the expenses in your life, your plans for the next year or two, and trying to adjust.

If your timeshare is on the list of things you might want to change, you’re not alone there either. Right now, maybe the best time to finally make that happen. And we’re here to help.

Travel Will Change

It’s safe to say that the travel industry will feel the effects of COVID-19 well into next year and possibly even beyond.

When travel bans are lifted, and we are once again allowed to explore and relax in beautiful destinations, prices will almost certainly rise as a result. While the cost for gas and airline tickets may be lower right now, the tourism markets will likely attempt to make up for what was lost during a typically busy travel season.

This “travel boom” increase in prices is likely also to influence timeshare fees. While many resorts may not be increasing fees right now, those costs can easily be hidden in the ever-rising maintenance fees as well as special assessments that are billed to timeshare owners during times of crisis.

Take Stock of Your Life

While we wait for travel bans to be lifted, it may be an excellent time to take stock and examine how you are spending your time and money. It’s important to look at what you want to do in the next couple of years as well.

For many, that timeshare they haven’t visited in years seems more like an obligation than a breath of fresh air or a relaxing vacation.

Not to mention, with Coronavirus imposing several travel restrictions and recommendations to stay close to home, you may be looking at your already underused timeshare and wondering why you still have it.

Reconsider That Financial Burden

Even with travel restrictions and countless families putting off vacations, timeshare companies haven’t done much to ease their owners’ worries.

Regardless of whether you can use your timeshare this year—or even feel comfortable traveling to your timeshare—you’re still stuck paying maintenance fees and possibly special assessments. Even in the middle of a global pandemic, those costs don’t go away.

When your timeshare starts to feel more like a burden than anything else, it may be the right time to consider finally getting out of your timeshare contract for good.

Live Life on Your Terms

You don’t have to stay stuck in the endless cycle of timeshare maintenance fees and unrealistic expectations for your travel plans.

The timeshare companies may not make it easy for you to get out on your own, but we can. Our process has helped many owners get out of their timeshares once and for all. This gives you the freedom to spend your time and money on your terms.

Our team has the specific expertise needed to navigate timeshare contracts and determine the right steps to get you out of yours as quickly as possible, keeping you informed every step of the way.

COVID-19 has put enough of a damper on your 2020 plans; your timeshare shouldn’t be another restriction. Give us a call today to learn more about how our unique process can get you out and earn you the freedom you deserve.

Tips to Getting the Timeshare Dates You Want

getting your timeshare dates

If you’re not ready to get out of your timeshare, we get that, too. And there’s no reason that you shouldn’t make the most of it while you still have it, right? So, if you’re looking to maximize your timeshare enjoyment, but have been struggling to get a date you want, here are some tips to consider.

Know Your System

There are different types of timeshares and knowing how yours operates is a big part of being able to get the most out it. Some timeshares are essentially leased— not deeded— and you only have access to the property for a limited number of years. These types of timeshares are a minority in the market and are often stricter about the times you book your vacation. However, if you’re like 90% of timeshare owners, you are likely dealing with a deeded system. Within that system, however, there are other sub-systems to know and understand:

  • Fixed-Date Timeshares: If you have a fixed-date timeshare, unfortunately, you don’t have much flexibility when it comes to picking when you enjoy your timeshare. Fixed-date is exactly what it says: You are assigned a week of the year, and that is your week. This sometimes changes every few years, but you have little to no control over it.
  • Floating Week Timeshares: This is the more popular of the two and offers you the most flexibility as a timeshare owner. If you have a floating week system, you’re in a good position to snag a date range that suits you and your family.

Beware of Popular Times

If you can plan around peak vacation dates, we recommend doing that. Peak times like spring break or the height of summer book up quickly and therefore can be frustrating to try and book.

Do a little research on non-peak season attractions around your resort or timeshare property and see when you might be able to get the most “bang for your buck.” Early fall or right at the start of spring are often great times of year that are less in-demand especially for those tropical-location timeshares.

Ask your timeshare company if they can share with you when some of the most popular weeks are you so can plan around that to find a time that’s perfect for you.

Plan Early

If peak vacation times are really the only times that work for you, your best option for getting one of those in-demand weeks is to plan early and stick to that plan. Sometimes, planning a year or more out may be necessary in order to snag that prime week you’ve had your eye on. As far out as you can possibly manage, try and book your ideal week. Then be ready to stick to it. Put in the PTO requests, book the flights—whatever you do, don’t try to change dates. Some timeshare companies won’t even allow that, but the likelihood of you getting time close to those prime weeks if you need to move it are slim to none.

However, if you’re comfortable planning in advance, or scheduling an annual trip you and your family can look forward to every year, you may have the best shot at capturing and retaining a week at your timeshare that your family cherishes.

At the end of the day, it may take a little more proactivity and planning on your part, but there are still ways to really enjoy your timeshare and make the most of it! However, if trying to game the system is getting exhausting for you, we get that, too. If you’re wondering what getting out of your timeshare might look like, give us a call.

How Much Does it Cost to Get Out of a Timeshare?

cost to get out of timeshare

One of the main reasons people want out of their timeshares is due to the costs. With increasing fees and lack of use, the financial expense of keeping a timeshare just doesn’t make sense for many families. While it can be difficult to get out of your timeshare on your own, complicated processes aren’t the only thing to consider. There are costs associated with getting rid of your timeshare, too. So how do you know which price tag is worth it? We’ll help you break it down.

Should You Resell?

When you look at your options— keeping the timeshare or finding a way to get out of it – there are a number of things to think about.

First, there is a small possibility the resort will take back the timeshare or offer a way out. It’s important to call your resort and ask about that option before proceeding.

People often wonder if they can resell their timeshare. Again, there’s a slight chance you could. Unfortunately, that is becoming less of an option every day. People understand that when you buy the timeshare, you’re also buying the cost of annual maintenance fees and assessments. If you take a look at any online marketplace, you’ll see there are hundreds upon hundreds of people practically giving their timeshares away and still no one is bidding on them. The truth of it is, the demand for timeshares has plummeted and seems to be continuing a downward trajectory.

The other thing you need to be aware of is the fine print in the contracts with your timeshare company. There’s a chance you aren’t allowed to resell your timeshare at all. It’s one of the stipulations salespeople like to gloss over when they’re presenting the timeshare to you.

So, if you can’t sell it, and it won’t get you your money back if you do, what’s left?

Canceling the Timeshare Contract

If you can’t sell your timeshare, but you still want out, your next option is to take legal action. This can be a costly, time-consuming and stressful legal battle when taking on timeshare companies on your own.

However, there are third-party exit companies that will take care of the legal legwork for you. The cost varies from company to company—and from contract to contract. Every timeshare ownership is unique based on resort, length of ownership and whether there is a mortgage involved. Some will not take payment until your timeshare contract has been fully terminated and some offer payment options. Whatever the costs involved, more often than not, you will save money in the long run versus continuing to pay for that timeshare!

Getting out of your timeshare legally, once and for all, is likely to cost some money, but if you compare that to the maintenance fees and other fees you may be paying for a timeshare you’re not even using, it’s often the best decision you can make. It’s not just about the money— it’s about the freedom that comes from knowing you’re no longer bound to something that keeps you from enjoying life and vacations with your family. We’re excited to help you reach that freedom!