When you are purchasing a timeshare property, always remember there will be maintenance fees (usually annually) that you will need to pay towards the upkeep of the dwelling and the cost of running the resort. These fees are split between all of the owners of the timeshare.
Some examples of what the maintenance fees cover are listed below:
Utilities – heating/lighting, staffing – reception/groundskeeper, upkeep of communal area’s – reception area, landscaping – communal gardens, repairs – to the communal area’s and the dwelling itself, white goods and many more…
When you are purchasing a timeshare property you must make sure that these fees and the terms and conditions attached to them are something you fully understand, this is very important, do the maths! Also always be aware that there may be clauses within your contract which allow for an increase in the maintenance fees on a yearly basis, this could mean that paying 500€ this year could result in paying 700€ in five years time (this is based on a 8% increase each year). You must make sure you factor in the yearly increase when you are budgeting for your timeshare property.
The maintenance fees will not depend on what week you have as your timeshare week, whether it is a quieter week in the year or one of the busiest, the fees will be calculated and divided over the whole year and then invoiced to each individual timeshare owner.
Maintenance fees will need to be paid, however, you are within you right to question whether the amount you are paying is too high. If you believe this to be the case and want to raise this as an issue always remember the following:
- You are entitled to be treated fairly.
- You are entitled to a full breakdown of the costs on your invoice, what they relate to and how they are split throughout the year.
- You are entitled to copies of the accounts, so you can ensure you are being invoiced correctly and costs have been applied reasonably across the board.
However also remember, if you have to deal with this unfortunate situation, be polite, be reasonable and keeps records. If anything were to go as far as court, you will need all the evidence you have to prove that you have made reasonable requests which have not been answered. Please note that as of yet, there is no record of such action in court and these matters are usually resolved between the claimant and the timeshare company.
In summary, make sure you know exactly what you are agreeing to before you sign that dotted line!
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk