If you own a timeshare, you’re no stranger to the burden of maintenance fees. These regular bills are to make up for the day-to-day costs of owning a holiday rental and are often overlooked at the time of signing the final contract.
The fees are to cover the utilities, landscaping and staffing to make sure that the holiday unit is always in a suitable state for the owners and any potential buyers that visit throughout the year. The issue that is most prevalent across the disgruntled owners, is that even if they are unable to afford flights to their resort, they are still required to pay their maintenance fees, despite not having used it that year.
Running annually or monthly, these fees can average from £300-£1,200 each year, totalling at a heavy sum when added to the flight expenses and any additional costs of the overall ownership of the rental. In addition to this, it’s important to consider that maintenance fees can increase far above the yearly inflation rate and unless stated otherwise in your contract, there is no limit as to how far your fees can rise.
If you read and signed your timeshare contract, you are legally bound to pay the maintenance fees and if you refuse, the resort is allowed to take collection efforts against you which could later result in a court case. While maintenance fees were likely to be mentioned in your contract, it’s possible that they were misrepresented and will probably continue to increase year after year, making many owners a victim to the industry’s misleading reputation.
The timeshare industry is full of mistrust and there is usually more than just one misrepresentation within the average contract. However, while these problems can be a burden, they are easy to fix. If you would like to get out of your timeshare contract or wish to check your viability of a claim, contact us now to arrange your legal assessment.
Call: 01793 251 080
More Info: https://www.o-yoo.com/