Timeshare is an investment in a lifetime of holidays but are there any ongoing costs and what are maintenance fees?
Maintenance fees ensure the general upkeep and quality of your resort and cover everything from refurbishment of rooms and facilities to the day-to-day running of resorts.
In the fourth video in a series on timeshare with Worldwide Timeshare Hypermarket, Harry Taylor from our partners, consumer association TATOC (the Timeshare Association) explains just how resorts set maintenance fees and how much it costs.
He explains that maintenance fees are usually set by a resort management committee made up of three timeshare owners in collaboration with the timeshare company and either its management or trustee company.
How much are timeshare maintenance fees?
So how much are these maintenance fees? As Harry explains, they vary widely and depend on the expectations of owners, but can go from £300 to around £600 a year at an average resort.
Harry also addresses one of the greatest myths in timeshare – that you have to go on holiday to the same place each year. Actually, people who own timeshare are some of the best travelled – visiting countries all over the world after buying just a few timeshare weeks or points.
Timeshare exchange means you never have to go to the resort where you own again or the same one twice – not unless you want to, of course.
Keep an eye out for more videos in the series. And don’t forget to see our consumer guides for more information about shared ownership. It includes a number of guides explaining what timeshare and fractional ownership is, how TATOC works to help inform and protect consumers, how to spot a holiday club, how new legislation is protecting shared ownership buyers and how to make the resale market work for you.
Have questions about shared ownership or do you want to make checks on a company that’s been in contact with you?
Get in touch with TATOC by telephoning their helpline on 0845 2302430. Their advisers are there to give you free, impartial advice.