When you buy timeshare ownership, you will have to pay not only an upfront sum, but yearly maintenance fees as well. While in most cases, these maintenance fees start at affordable levels, after a while many owners realize that the fees start increasing and they soon seem to be getting out of control – if this is your situation, too, here is why your maintenance fees increase. If they get to high, you may want to visit with a timeshare attorney Tampa offers for options.
One of the factors that contribute to the increase is that the other owners of your property default on their payments and the management company puts on you all the costs that they fail to collect from others. The other cause for rising maintenance fees is that there are many dishonest companies that pretend to buy timeshares from owners, then they transfer the ownership further, to companies established only to go bankrupt and disappear.
The third factor that might cause your maintenance fees to go up suddenly is damage sustained by your timeshare property. If a disaster hits the resort that incorporates your timeshare, the timeshare management company needs to get the funds necessary for the repairs from the owners – most companies create reserves from regular fees, but in case a major repair becomes necessary, they will pay for that by increasing the fees.
Article Source over here: Why Timeshare Maintenance Fees Are So High
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