One of the allures of timeshare ownership is the ability to take a luxury vacation every year. However, most people find that there are some years when they’re unable to use their scheduled week. When this occurs, a great solution is to let a friend or family member use your timeshare. This allows you to give the gift of a great vacation to someone you care about, ensuring your timeshare week doesn’t go to waste in that particular year.
Most resorts will allow you to let someone else use your week. However, it’s important to check the terms of your contract and call your resort to confirm the process before offering away your timeshare week to friends and family.
If you’re planning on letting friends and family use your timeshare week, you’ll need to keep the following items in mind to ensure the process runs smoothly:
If you don’t have a friend or family member who wants to use your timeshare week, you can try to rent it out. As with giving the week away, you should check with your resort to make sure this is allowed and that you won’t be in breach of your contract. Most timeshare contracts allow you to rent out your week.
Keep in mind that it’s often challenging to rent out a timeshare. The number of units available for rent often exceeds the demand, and you may have trouble finding a renter. It may also require a lot of work on your end to list the unit and communicate with prospective renters. In addition, you’ll most likely have a hard time recouping the full costs of your maintenance fees from a rental due to limited demand.
If you are able to find a renter, make sure you sign a rental contract and ask for a security deposit to cover any potential damages caused to the unit. You’ll also need to inform the resort that someone is renting your timeshare to ensure they’re granted access to the property.
When you attended the timeshare sales presentation, you were most likely sold on the ability to travel where you want, when you want. Unfortunately, many timeshare owners have a very different experience. Even options such as points club contracts, which provide greater flexibility than traditional timeshare models, can be challenging to use if you’re unable to reserve your desired week far in advance.
Currently, the average cost of annual maintenance fees is $1,000. These must be paid regardless of whether you use the property in a given year. If you’re still paying your timeshare mortgage, your yearly expenses will be significantly higher. It can be frustrating to pay these costly fees every year only to find you’re not using your timeshare. If you’re tired of these financial burdens, it may be time to consider cancelling your timeshare.
At Timeshare Termination Team, we’ve helped many families break free from the constraints and frustrations associated with timeshare ownership. We use attorney-based strategies to help you safely, legally and permanently get out of your timeshare. Our process involves creating a customized exit strategy based on the specifics of your contract and your unique goals. With our exclusive You First Approach™, your needs will be our top priority every step of the way.
As part of this approach, we’ll educate you about your options and recommend the best strategy for your specific situation. Our comprehensive Straight Facts Exit Guide™ is loaded with the information you need to make intelligent choices, and our Step-by-Step Exit Map™ will outline the entire process in detail so that you know what to expect.
In addition, you’ll have the peace of mind that comes with our Money-Back Exit Guarantee™. The process will end with you safely, legally and permanently cancelling your timeshare or you’ll receive a full refund, no questions asked.
Please contact us today to schedule a free consultation. Start your journey toward freedom from the burdens of timeshare ownership.
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