Time’s running out to stop paying timeshare maintenance fees for 2023

Timeshare owners are expected to pay costly annual membership and maintenance fees every year, even if they don’t use their timeshare. With 2023 fees due soon, anyone hoping to avoid another year’s payment may be running out of time to act.

An ongoing financial commitment

If you’ve never owned a timeshare, it can be hard to see why it feels like a trap. Here’s a simple analogy:

Imagine you visit a hair salon and they offer you the chance to join an “exclusive” membership club.

You pay £10,000 up front and commit to being a member for a set number of years.

On top of the lump sum, you still have to pay each time you get a haircut. Sometimes it’s the standard price, but often it’s higher.

If one year you decide to use a different salon, you still have to pay your membership fee.

And if you don’t go at all that year, you still pay the annual charge simply for remaining a member.

Annual fee increases

To make matters worse, the club can increase prices whenever it chooses — and you’re obliged to pay.

Standards might also slip: less experienced hairdressers, fewer staff, or no investment in better equipment.

Overbooked and hard to use

Over time, you may come to dread going — or you may want to go elsewhere. Perhaps the salon can’t fit you in because it’s overbooked, sometimes by people who aren’t even members.

Whatever the situation, and no matter how keen you are to leave, you still have to keep paying.

Would you find that frustrating?

Why owners regret timeshares

Many timeshare owners are increasingly fed up. They’ve paid significant sums and often feel they have very little to show for it.

What’s worse, some owners were sold illegal contracts.

In many cases, members pay similar prices to other guests to use the resort — even though those guests didn’t pay any joining fees and simply book through Booking.com and similar sites.

It’s not the “exclusive” arrangement people believed they were signing up to.

Combine that with declining facilities and services, and it’s easy to see why so many members now want out.

Feeling stuck in a contract

For many owners, the biggest issue is feeling trapped. When they signed up in the 80s or 90s, the promises sounded appealing and the deal looked worthwhile.

Now, as many as 85% of owners have come to regret the decision.

Many believe there is no route out.

Support is available

Despite what some people have been led to believe, it’s often possible to exit a timeshare contract with expert help.

Industry messaging has frightened owners into thinking they cannot leave, but that isn’t always true.

When members find a trusted company to support them, many discover they can relinquish their timeshare without problems.

However, timing matters if you want to avoid the next annual fee.

Act now, before 2023 fees fall due

Andrew Cooper, CEO of European Consumer Claims, says that it takes an average of two or three months to relinquish a timeshare contract. Sometimes it can take a little longer, and sometimes it can be under two months.

With maintenance bills expected to be issued over the next few months, now is the time to start the process if you want to avoid paying for another year.

Cooper also notes that “a significant number of timeshare owners’ contracts are actually illegal.”

Where this can be proven, an owner may not only have a route to exit the contract, but may also be owed compensation from the resort.

That’s why it’s important to have your options reviewed by experts.

If you’d like to explore your options for ending your timeshare membership, speak with our trusted, experienced advisers at the Timeshare Advice Centre for free, confidential advice.