Timeshare maintenance fees are an unavoidable and important reality when you purchase a fractional vacation property. To ensure the quality of a lifetime of amazing vacations, you must be prepared to invest in the maintenance of your property.
Myth 1 – There is no need for maintenance fees
Time takes its toll on all things, living and inanimate and your timeshare property sooner or later will deteriorate if you do not take charge of maintenance and repairs. As a timeshare owner, you are lucky that you do not have to take on this role by yourself, the timeshare operator organizes this service on your behalf in exchange for yearly maintenance fees. All you have to do is turn up and enjoy.
Myth 2 – The fees only cover my unit
Your maintenance fees also go towards the general upkeep and maintenance of any common areas such as pools, restaurants, spas, fitness centers and so on.
Myth 3 – I can opt out of paying the fees
You have no legal choice about whether or not to pay your maintenance fees. Even if you are unable to use your timeshare one year, you are still responsible for paying the fees. This legal requirement is intended to protect all owners, so that fee paying residents do not end up supporting those who fail to maintain their payments.
Myth 4 – Timeshare maintenance fees will not increase
Like wear and tear, inflation is a reality of life and any timeshare seller who tells you that your maintenance fees will not increase is not being 100% honest with you. Having said that, some operators will fix the price of the maintenance fees for a certain period or agree a capped rate. However, you should expect your maintenance fees to rise in accordance with inflation and local costs of living.
Myth 5 – Maintenance fees are hidden costs
Any reputable timeshare company will make it very clear that you will have to pay towards the maintenance of your property. There is nothing hidden about these fees, they are clearly stated in any timeshare contract.