Time share logics..
By vanny
@vandana7 (100280)
India
December 31, 2012 11:02am CST
Its holiday season, and many of you all must have planned a vacation. Time share companies make it all sound so attractive. But beware...do not fall into those traps...
Why?
A. Logically, each day those people are getting 10 members in about 10 different cities.. meaning each day they add 100 members at least. 100 x 365 = 36500 - that is only in one year, imagine how many they have in the past, and how many they will have in the future.
B. They say they have nice accommodations at various hill stations and beaches and the truth is they do. But the maximum number of rooms in each of these hill stations and beach resorts is limited to 1000 rooms. Now, that is not enough for half of the families they offer membership to in each year. So you can imagine how long, if at all, it will take you to get a vacation at the destination you desire from your time share investment.
C. They do have some other resorts which are in obscure locations and places where you would never want to go on vacations. You can always get bookings for these places. However, they will collect a nominal charge for upkeep of these units which incidentally is average of the total maintenance cost across all hotel rooms. The costs incurred to maintain these units is much less when compared to costs incurred to maintain units in regular tourist destinations. Effectively, you are paying almost the entire room charge which is what you would have paid had you planned an outing to that place. Meaning...you get no real discount on room charges. Mind you, your annual maintenance charges increase each year...and whether you take a vacation or not, you have to pay it.
D. They may offer some land to you, again in obscure locations. You are warned that it will not be developed into a resort during your lifetime, or at least during the period of your lifetime when you can travel. So if you buy a time share in 20s, in all probability, the land will be developed when you are in eighties. The object is to deny you the facilities that have been promised, and there is not a thing you can do about it. The land is in your name...right? So they didnt mislead you. You might almost misplace the document, and if you keep them, you might incur some nominal charges regularly, effectively paying substantial amounts to safeguard a property that you cannot enjoy.
There is fine print in each time share document. They wouldnt like you to read that. Every clause in it will be prejudicial to your interests. Its a good idea to read it and understand the implications, even if you are one of those who decides instantaneously.
So ..is there anything positive about Holiday Time Shares? I didnt find anything. Perhaps you did. Would you care to share?
4 people like this
10 responses
@BarBaraPrz (47308)
• St. Catharines, Ontario
31 Dec 12
At first glance, a time share sounds like a perfect solution, but as you've pointed out, there are many drawbacks to them as well.
Were you thinking of buying into one and that is why you did the research?
2 people like this
@BarBaraPrz (47308)
• St. Catharines, Ontario
31 Dec 12
You're a good niece. Good luck.
1 person likes this
@topffer (42156)
• France
31 Dec 12
A lot of people here have bought time shared apartments for their holidays in the 1970's and 80's and it is a real trap : these apartments have a lot of expenses every year and the owners have to pay them even if they don't go there for holidays. The only way to avoid expenses is to sell their part of the time shared apartment, but nobody want this today, and some people having inherited of one or two weeks of holidays in such an apartment cannot even find somebody to accept the apartment for free : it is really a poisoned gift.
1 person likes this
@vandana7 (100280)
• India
31 Dec 12
One of my uncles fell for it, and signed on the contract. I went along with him that day, and since I had not carried my glasses, I couldnt read much. But still, I read the document, and made them modify a few conditions, because of which he is now eligible for refund of his monies.
However, they have taken more than 6 months to return the monies. Even now, I am told the monies would be returned on Jan 7th, and I am not sure. Uncle underwent a heart operation the year before, so I am doing the running about. It is indeed very tough to get back the funds.
2 people like this
@topffer (42156)
• France
31 Dec 12
Your uncle is lucky : it is quite impossible here, and a lot of people are involved in lawsuits because they want to live these apartments and cannot find somebody to take their place in the societies initially made to share the time by the real estate promoters. There is no legal solution, and it is a dangerous trap. One has to be very careful with this concept of time shared.
1 person likes this
@Asylum (47893)
• Manchester, England
31 Dec 12
I have a natural aversion to the whole concept of timeshare, so it is not something that would ever attract me irrespective of the quality of the accommodation or value of the price.
The idea sounds fine on the surface, until you realise that it would involve predetermining where you are likely to go on holiday for the next 20 or 30 years. Obviously a time share would be of little value if you were not prepared to spend the bulk of your holidays there.
I prefer to visit somewhere different rather than go back to a place that I have seen, despite how much I enjoyed a holiday. I love Spain and have been there around a dozen times, but always to a different resort in order to have a degree of variety.
1 person likes this
@vandana7 (100280)
• India
1 Jan 13
Exactly. Predetermining is not always possible. Much depends upon our health, the time we have, and of course the money and company. Time share actually deprives us the right to plan an enjoyable vacation in a larger group. It is essentially for two members or at the most four members. I prefer having a large group of friends to play with at the beach rather than walk silently the 6 days in the morning and evening at the beach. That would make the vacation so dull!!! And my basic preference is large botanical gardens and other forests. If I were to book a timeshare for that say today, I would possibly get it around 20 or 30 years from now. That is 73 or 83. I might have knee problems by the time to walk about in those gardens. And that is putting it optimistically. I wish more people would discuss it and ensure that each one warns at least one another person. :)
@sharlahodges (813)
• United States
2 Jan 13
I wish I had join a time saver when I was younger. It would be great to have somewhere to go on vacation every year. But, I now I think I am too old to think about belonging to one. I wish I had checked into the Disney Vacation Club since that is a place we love to visit.
1 person likes this
@maygodblessu44 (7336)
• India
2 Jan 13
Hello my friend vandana7 & sharlahodges Ji,
Well, in fact I wa sunable t post anything since a fortnight, so yesterday afyer seeing you after long time I just wished everyone and it was duly posted as well. Thanks. Frankly speaking we belong to upper middle class as per status and never planned any trip as your discussion. Our elder son and his wife take us around as and when they go for any trip and tehy book in Club Mahindra.In the year 2003, they called us to Miami (US) and we visited WALT DISNEY WORLD For a week. I think such trips should come all of a suden where excitement and enjoyment increases. Next any organisation are only tto earn from tehir customers. Take care.
May God bless You and have a great time
@allknowing (136365)
• India
1 Jan 13
We were toying with this idea a long time ago. Just as you, we too did some research specially talking to those who already had got trapped. But some never admitted their blunder of having gone ahead. Every bit of what you have said here is true.
@vandana7 (100280)
• India
1 Jan 13
Allknowing...the concept itself is not bad at all, provided it is for a small set of friends. Each friend could buy a unit in one of the selected destinations. Then a rotation round can be done. In off season, some restaurants can be given access to the accommodation so that they can use it and maintain it. Effectively, the owners can use the premises for say 4 months in the year, while the restaurant gets to use it for 8 months. Relevant maintenance charges are incurred by the restaurant. Their investment comes down drastically, the unit owners too do not have to incur either the maintenance charges or pick and drop expenses. Vacations can be sold and gifted. :) But everybody should be agreeable to the location premises, and restaurants willing to take the premises should also offer acceptable terms. However, if it is possible this way it is an exciting concept.
@thanks1961 (7035)
• India
2 Jan 13
This is the first time I heard of it. However, there were typical similar projects and plans/proposals earlier also. Many got failed to fulfill their dreams as desired. You mentioned here only few facts and there are still a lots of bottle-necks with regard to it.
The best way to enjoy our holidays is to make the trip as per our budget, plans, convenience on a timely basis. These projects are mainly for the business purposes and to attract common man for their exclusive purposes by high-lighting a lots of imaginary facts. When it comes to reality, as you mentioned, they all will give us a lots of troubles, instead of advantages.
Again, it is my thought that if we need to enjoy the vacation plan accordingly and there is no 'better' option other than this. It must be flexible, convenient, time bound, individual oriented and many more. If we choose to their tracks, we are obliged and need to move upon their convenience and not of us.
I am still supporting you and I heard of so much of cheat and loss of money in such business in yester times also.
@thanks1961 (7035)
• India
3 Jan 13
You are true again. We have to study the cases very carefully as it is a long-term plan. I have heard that, if at all, in any chance, we don't prefer to go for the vacation, they will assign the same to someone else and if the 3-4 days of vacation is costing Rs 10,000/- the value of money will be credited to our account. However, I don't think this will make any profit. If we spend lakhs in rupees and a return of such small amount won't be worth and they assure that there may be frequent rentals and we may get laksh in a year. But if a case of 'none' for an year, there is no income for us. Again it is so hard to happen as and how they explain to us.
In short, I preft 'no' to such projects and how we will take chances on the cases where we are not sure about.
Regards
@dawnald (85146)
• Shingle Springs, California
3 Jan 13
They are also difficult to resell.
I do know a couple who is very happy with their timeshare in Hawaii. They go there every year, and don't worry about trading it for other locations. I went for a presentation for that very same timeshare, and thought the maintenance fees were outrageous. $250 x 52 weeks x 200 units, they could buy a small island for that.....
@momof3kids (1894)
• Singapore
1 Jan 13
Thank you for explaining. A friend did complain to me about her time share, they sound exactly like what you have described.
@vandana7 (100280)
• India
1 Jan 13
There is one way to trouble your timeshare guys. Something they didnt notice I presume. They tell you that you can accumulate your vacations, right? If you hold a wedding ceremony in one of the destinations which are not very popular, and accommodate your guests there, they will be obliged to honor their commitment. Therefore, you get to pay annual maintainance charge in respect of one room. Rest, they can collect annually and not immediately. You can choose not to pay. It is not viable for them to be running about for collecting that small maintenance cost from you. Perhaps you could suggest this to your friend. I think these time share guys have been troubling people so much that a couple of smart alecs are needed to make them honest. Right?
@RajaKrsnan (39)
• India
3 Jan 13
Whenever one feels like going on a vacation, simply pack up your baggage and head to your intended destination. There are hundreds of hotels waiting to accommodate tourists who are looking out for a good place or one who do not have an advance reservation of accommodation at those places. I had been to goa during the peak season and found a good accommodation without any problem and at a reasonable price compared to an advanced booking. Many things are over hyped and that is how these companies get their revenues. Instead of investing money in time shares, invest it in bank deposits of longer periods, one can get tax deduction and higher rate of interest. After the minimum period of investment is over, one can withdraw the a small part of it and go on a holiday. That way one can almost have the cake and eat it too.
@vandana7 (100280)
• India
3 Jan 13
Exactly my sentiments. In fact, we can book hotel rooms online whenever we desire instead of going through make my trip, time share or other such groups. We are better off that way. It does not cost a fortune, and it is more fun filled as well, as we are not time bound. Hotels usually assist people with the required trips.
@mariaperalta (19073)
• Mexico
1 Jan 13
I used to work at a time share at a las vegas casino for many years. They were crooked. They get you there, and 99% of what was promised wasnt what they said it was going to be. I used to feel bad for so many who fell for this trick. Happy new years to you there..
