Maintenance fees get a lot of bad press and are almost dirty words on the lips of those who see timeshare as some kind of scam or waste of money. The truth is that far from trying to defraud owners of their money, timeshare maintenance fees are an essential component to the enjoyment and long term investment of the property.
Below you will find some of the top maintenance fees myths exposed.
1- They are non-essential hidden costs
Firstly, there is nothing hidden about timeshare maintenance fees. Every timeshare, vacation club or fractional ownership contract will include a clear clause about keeping up to date with maintenance fees. Likewise, common sense alone indicates that the upkeep of your condo or resort property will require continuous maintenance to keep it perfect for when you arrive.
2 – I pay only for the upkeep of my unit
That fact that this is not true, actually works in your favor. Your maintenance fees cover your unit as well as the common areas and gardens. Depending on the size of the complex or resort where your timeshare unit is located, your fees also ensure the maintenance and repairs of any pools, gym equipment, spas, tennis courts and so on. Your fees will also usually cover the provision of any security guards.
3 – Fees are optional
This myth can be quite costly and detrimental to your enjoyment of your timeshare. Maintenance fees are not a choice. If you have bought a property, albeit on a fractional basis, it is your legal responsibility to contribute to its upkeep and repairs. In this way all residents and owners are protected and do not have to cover the fees of those who “choose” not to pay. You will be liable for legal proceedings if you do not fulfill your maintenance fee responsibilities.
4 – Maintenance fees are fixed and never rise
Thanks to inflation and the laws of economics, unfortunately your maintenance fees are likely to increase over time. Some companies offer a fixed quota for a certain period of time but no timeshare company can honestly guarantee the price of your maintenance fees for the full term of your contract.
5 – They are a scam
As a concept, maintenance fees are not a scam, they are essential to your continued enjoyment of your vacation home. However, like anything, it depends on who you are dealing with. In practice, maintenance fees can be kept artificially high by unethical companies, which is why it is always important to purchase a timeshare from a reputable company with a long track record for honesty, like The Villagroup.