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When you pick up a newspaper or turn on the TV the prevailing topic is currently the rise in living costs faced by consumers and business in the UK and Worldwide, however what does the rise in the cost in living mean for timeshare owners?
With the cost of energy bills set to reach approximately £3500.00 for the average household this autumn, there is a wealth of advice out there with a focus on tightening your belt’. People will prioritise what they spend their money on, housing, food, utilities and petrol are essential as the cost of these items rises, there is less disposable income to pay for those non-essential purchases.
The average consumer can decide not to take a holiday this year, yet the timeshare owner has signed a contract-They must pay whether they holiday or not.
Watch our short video which explains how the Timeshare Advice Line can help you to exit your timeshare or submit a claim against your resort. Just click the play button above to get started.
Maintenance contracts are legally binding agreements in which the timeshare owner has committed to pay their share for the management of the resort each year, and these fees must be paid in full annually. The cost of utilities is now set to rise for the consumer and for business owners alike.
Every timeshare resort already pays huge electric bills to cover the cost of lighting, heating,air conditioning and these costs will rise just as they do for the consumer. With timeshare sales in Europe basically non-existent in 2022 and the only source of revenue timeshare companies being the annual maintenance fees, owners should expect to see higher maintenance fee demands this year.
The holiday industry was brought to its knees in 2020 with almost every country in the world placing a blanket ban on all but essential travel. Any contingency funds held by resorts will have been dipped into meaning that to stay operational, the rising cost to maintain the timeshare resorts will be met by the existing owners. We expect to see owners being asked to pay a maintenance bill for 2023 that is at least 15% higher than they paid for 2022 management fees.
For many owners, who may still not have had the opportunity to use weeks banked from 2020 and 2021, this could be the last straw. It could be that they now need to look into their options to legally get out of their timeshare contracts once and for all and stop paying timeshare maintenance fees.
If you are currently considering cancelling your timeshare contract then contact The Timeshare Advice Line today. You can call us free on 0800 060 8729, or place an enquiry or start a live chat with our customer services team on our website.
We specialise in no money up front timeshare cancellation and offer all potential clients a free claims check to see if they could be entitled to claim their money back from their resort. We will give you a free no obligation instant quote for your resort and will explain to you how the process works. If you get started now, there is still time for your timeshare contract to be cancelled without you having to pay the 2023 maintenance fees. Don’t delay- contact us today.
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