One of the costs that tend to keep people away from buying timeshares is the everlasting maintenance
fees. Even when you have paid off the timeshare property you will be bound to the maintenance fees.
Many times, the fees are what end up sending a timeshare into foreclosure when it has been paid off.
Even if a person has inherited a timeshare the maintenance fees can keep them from using it. One thing
you may not realize when you buy a timeshare is that the maintenance fees can vary over time. Most
the time they increase, sometimes substantially. This can be due to the loss of owners, major repairs
So what do the fees go towards you may wonder? Here are some of the items they are used for; cost
for security, including personnel at the property, professional and management fees and expenses
for accounting and supervision, taxes for real estate, payroll and sometimes sales or rentals. Costs
for maintaining recreation facilities, expenses for refuse collection and utility services, lawn care and
replacement, building repairs and supplies, insurance for liability, directors and officers, wind, flood
(many times) and workman’s compensation, administrative and salary expenses and benefits, bad debt,
legal expenses and annual audit of accounts, linen and cleaning supplies, service contracts for pest
control, appliance, elevators, linen, etc., maintenance weeks upgrading of units. This is just the general
up keep of a property. When large projects occur it can really cause fees to rise to owners. Things like
paving, roofing major repairs etc.
So you can see why there is a need for the maintenance fees. Someone has to pay for these things and
when you become a part owner of a property you are responsible to pay. When you are feeling upset
about paying these fees when the yearly bill comes, keep in mind why you have to pay.
There are also instances when the resort company may not be using the fees as they should, There are
many stories about resorts continually degrading in quality over time. There are even resorts that have
been condemned! This is yet another reason to thoroughly research who you are buying from. DOD
yourself a favor and be an informed consumer, it will pay off in the long run.
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