Timeshare maintenance fees should be divided between all of the owners and used towards the upkeep of the resorts. This upkeep covers cost of maintenance, utilities and employees wages. Some timeshare resorts have increased their maintenance fees by way more than the cost of inflation. Maintenance fees should not be used for profitable gain.
Are my maintenance fees too high?
If your maintenance fees have been increasing above inflation with no major renovations, you are being charged too much. The average cost of inflation in Europe is approximately 1.8%.
Is it illegal to charge above inflation?
It is not a crime for the resorts to over charge, however, it could be a viable clause for termination of your timeshare contract.
What happens if I stop paying my maintenance fees?
You have an agreement with the management company to pay for the upkeep of your resort. In exchange they agree to provide you with x amount of weeks of accommodation. Even if you stop using your timeshare, they are still keeping to their part of the agreement, therefore, you are still required to pay your fees. Your annual fees will build up and accumulate inflation along the way. Usually you will only be contacted by email or phone to make these payments. Once it reaches a high enough figure, they will take it to the high courts. Only then will they have a high court enforcement officer appointed by the court to collect debts on their behalf.
Why has my timeshare resort not contacted me for maintenance fees?
Timeshare companies have been known to wait until the last minute to make contact. By doing this, it allows them to claim a higher amount with added interest. Once a high court enforcement officer has been appointed there is no way to avoid paying the debt. This also prevents you from being able to legally terminate your contract or submit future claims for mis-sold timeshares. Many resorts are now being forced to terminate the illegal contracts and by their admittance of guilt a refund must be issued. Claims can only be made when the maintenance fees are paid up to date.
If my contract is illegal then why do I need to pay the maintenance fees?
You enter into two agreements when purchasing a timeshare. The first agreement is made between yourself and the marketing company that sells the timeshare, it is this agreement that can often be found illegal. The second agreement is between yourself and the management company. The management company often keep to their end of the agreement by maintaining the resorts.
Do you think you are paying too much?
Work out how much you are saving by owning a timeshare. If you can book it cheaper as a non owner then you are paying way too much. Check out the article posted by The Mirror in regards to maintenance fees and their value for money. www.mirror.co.uk/features/timeshare-maintenance-fees-value-money