What Timeshare Annual Expenses are For

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What Timeshare Annual Expenses are For

Posted On : Jan-10-2011 | seen (217) times | Article Word Count : 367 |

If you own a timeshare, chances are you've found yourself staring at a little slip of paper asking payment for "annual maintenance". Most owners don't even know what such fees entail, and here we explain them to you.. As timeshare is a long-term investment, it means that you'll be paying such annual dues for a long, long time. Therefore, it is important to know what they are for, as they are part and parcel of the responsbility of owning a timeshare..

The cost of a resort’s operations is evenly shared among all owners via an annual maintenance fee. The fee is inclusive of reserves to pay for non-recurring costs like furniture, landscaping, external upgrades, appliances etc. and other costs in maintaining the resort as it deteriorates, same as your own costs for maintaining your house or car. Cost is determined by the developer or HOA (homeowners association). As such, it should be noted that when a developer manages a timeshare, the upkeep charges may be temporarily borne by the developer as a marketing investment. However, when the HOA takes over after some period, the fees may immediately rise without warning.

Such fees vary greatly depending on the location and the resort. Charges usually range between $200 to $1,000. According the American Resort Development Association, the average fee is around $400 a year.

Of critical importance is that when getting a timeshare, the fee cannot stay fixed for the rest of your ownership tenure (which can be a lifetime, if its a deeded property).. I'ts inevitable that the $400 annual fee today will rise in the 20 years that you are part of the timeshare club. This is the current dilemma of many owners, who only considered the initial membership price without thinking of the annual charges that may rise overtime. Especially since the economic depression, a lot of members have found that they cant afford to pay the increasing maintenance fees. In some rare case, it can een become more expensive to pay those annual fees than renting the units for a week.

It is therefore essential that you do the necessary research and ask pertinent questions before buying a timeshare.

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<h1>What Timeshare Annual Expenses are For</h1> Author: <a href='http://www.articleseen.com/profile_Alfred Hinkley.aspx'>Alfred Hinkley</a> If you own a timeshare, chances are you've found yourself staring at a little slip of paper asking payment for "annual maintenance". Most owners don't even know what such fees entail, and here we explain them to you.. As timeshare is a long-term investment, it means that you'll be paying such annual dues for a long, long time. Therefore, it is important to know what they are for, as they are part and parcel of the responsbility of owning a timeshare..

The cost of a resort’s operations is evenly shared among all owners via an annual maintenance fee. The fee is inclusive of reserves to pay for non-recurring costs like furniture, landscaping, external upgrades, appliances etc. and other costs in maintaining the resort as it deteriorates, same as your own costs for maintaining your house or car. Cost is determined by the developer or HOA (homeowners association). As such, it should be noted that when a developer manages a timeshare, the upkeep charges may be temporarily borne by the developer as a marketing investment. However, when the HOA takes over after some period, the fees may immediately rise without warning.

Such fees vary greatly depending on the location and the resort. Charges usually range between $200 to $1,000. According the American Resort Development Association, the average fee is around $400 a year.

Of critical importance is that when getting a timeshare, the fee cannot stay fixed for the rest of your ownership tenure (which can be a lifetime, if its a deeded property).. I'ts inevitable that the $400 annual fee today will rise in the 20 years that you are part of the timeshare club. This is the current dilemma of many owners, who only considered the initial membership price without thinking of the annual charges that may rise overtime. Especially since the economic depression, a lot of members have found that they cant afford to pay the increasing maintenance fees. In some rare case, it can een become more expensive to pay those annual fees than renting the units for a week.

It is therefore essential that you do the necessary research and ask pertinent questions before buying a timeshare.About the Author: The <a rel="nofollow" href=“http://timesharepages.com/timeshare-company-directory”> timeshare company </a> you are doing business with should inform you firsthand of the maintenance fees involved in your timeshare. Don’t wait until the last minute to ask about it. You should ask beforehand so that you wouldn’t have to suffer the consequences in the end. Article Source: <a href='http://www.articleseen.com/Article_What-Timeshare-Annual-Expenses-are-For_47991.aspx'> http://www.articleseen.com/Article_What Timeshare Annual Expenses are For_47991.aspx</a>

Article Source : http://www.articleseen.com/Article_What Timeshare Annual Expenses are For_47991.aspx

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The timeshare company you are doing business with should inform you firsthand of the maintenance fees involved in your timeshare. Don’t wait until the last minute to ask about it. You should ask beforehand so that you wouldn’t have to suffer the consequences in the end.

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Category : Arts and Entertainment : Arts and Entertainment

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