Most Frequently Asked Questions about Timeshares and Timesharing
This article was created and is updated via a TUGBBS forum post talking
specifically about timeshare questions, for added questions and or
updates, please refer to this thread!
TUGBBS online timeshare community forum
update thread
Question 1: How do I sell my
timeshare?
Answer:
This is hands down the most
frequently asked question we get on TUG, and we get it on a daily basis
so do not feel alone or disheartened that you dont know. The
VAST majority of timeshare owners simply dont have a clue as to what
they can expect when entering in the resale market for the first time,
and you have the added bonus of an entire industry making it as
difficult as possible for you to learn about it, after all if the
resale market were more mature, developers would be forced to make a
massive reduction in retail pricing!
That said, this quesiton has such a long and detailed answer, the
collective minds of owners and experts here on TUG have collaborated
with an all encompassing article titled "How to Sell your Timeshare" and it is available for free
to the public here: How
to Sell your Timeshare free advice article
We highly suggest reading this
article carefully and completely as it will answer nearly every
question you have about how to sell your timeshare the right way, with
little or no cost to you and most importantly avoid being scammed in
the process!
Question 2: How do I rent my
timeshare?
Answer: Easily
the 2nd most frequently asked questions we get here on TUG, and
again...do not feel alone in the fact that you are unaware of how to do
this. It is extremely rare for a resort to inform an owner of
their ability to rent out their own units to other individuals in an
effort to at least recoup some or all of the annual maint fees for a
week not going to be used or exchanged! This advice article
titled "How to Rent your Timeshare"
was written as a guide for owners looking to rent out their own units
for the first time, learn how to do it the right way for free and
protect both you and the renter! How to Rent your Timeshare - Free Advice Article
Question 3: I
just bought a timeshare from *any resort* did I get a good deal?
Answer: The short answer is NO!!!!
You
likely paid significantly more money than you should have vs buying the
exact same property from an existing owner looking to sell. The
Timeshare Resale market is the best kept secret in the timesharing
industry, and for good reason! THERE IS NO SUCH THING AS A NEW
TIMESHARE! This advice article discusses why you should rescind
your contract now if you still have time, and potentially save
thousands of dollars or more in the resale market for the exact same
thing you just bought! Did I get a good deal on my new timeshare? - Free Timeshare Advice Article
Question 4: Can
I donate my timeshare to charity and get a tax deduction?
Answer:
The short answer is "Yes", but there is a catch (isnt there always with timeshares?). This
is an extremely common question we get in this day and age with the
economy the way it is, this advice article was written to provide you
with as much information as possible to help you make an informed
decision on how to proceed with this particular process should it be
right for you! Can I donate my timeshare to charity and get a tax deduction?
Question 5: Do I have to convert my Deeded Week to Points?
Answer:
The short answer is "NO", there is absolutely no requirement for you to convert your deeded week to a points system. This
question comes up alot with various points programs around the
Timeshare Industry, many people fall prey to the overwhelming pressure
and perhaps somewhat underhanded tactics by some companies to entice
weeks members to convert into points members all while usually charging
you a hefty fee to do so. This Advice Article provides some real
world input on the subject: Do I have to convert my Deeded Week to Points?
Question 6: What is TUG?
Answer:
The Timeshare Users Group (TUG) is a website founded by
Bill Rogers and a group of other volunteer timeshare owners just like
yourself who have a common interest in vacation timeshare ownership.
For the full story of TUG's beginnings and history you can read
this article: The History of the Timeshare Users Group - TUG
Question 7: I have read that this is a "not for profit" website. Why is there a membership fee to join?
Answer:
The membership fees pay for this site and all the
associated costs of running TUG which include the 800 line, online
webhosting fees(extremely expensive since we migrated to numerous
dedicated servers to run all of TUGs sites), domain registrations,
etc....but absolutely zero labor costs as we are an all volunteer
organization. Once you join the group for the first time, if you
contribute back to the community by referring other members, or
submitting resort reviews...there is no need to pay for membership ever
again as the credits you earn for doing those things can be exchanged
for membership extensions! For more detailed info on TUG finances
you can reference this post made by Founder Bill Rogers: TUG FinancesQuestion 8: What are Maintenance Fees? And how much are they?
Answer:
Maintenance Fees are essentially your annual dues
paid to the resort as an owner of an interval unit at that resort (or
resort system). They are paid by all owners at that resort (or
should be). This article provides a more detailed answer: What are Timeshare Maintenance Fees?Question 9: Is buying a Timeshare a good Investment?
Answer:
Maintenance Fees are essentially your annual dues paid to
the resort as an owner of an interval unit at that resort (or resort
system). They are paid by all owners at that resort (or should be).
This article provides a more detailed answer: What are Timeshare Maintenance Fees?
Question 10: If I decide to buy a timeshare, should I buy "new" or "used" from the resale market?
Answer:
Since the resale market is such a well kept secret
from the vast majority of people considering buying timeshares, you
woudl be doing yourself a HUGE disservice by not at least investigating
it prior to making any decision...after all...it could save you tens of
thousands of dollars for the exact same product! This page gives
TUG's take on buying resale vs new: Timeshares - should I buy new or used?
Question 11: What is ROFR?
Answer:
This term means simply, Right of First Refusal and
describes a process used by some resorts to intervene in the sale of a
timeshare in the resale market. Read more here: What is ROFR?
Question :
What points system is the best for me?
Answer:
Question :Is
RCI Points better than RCI Weeks?
What are the differences?
Answer:
Question : Are
Marriott/HGVC/Starwood/etc properties worth the extra cost?
Answer:
Question : If
I only want to use a week for trading purposes, what should I buy?
Answer:
Question : I
just purchased a timeshare from a developer. How do I get out
of the purchase?
Answer:
Question :
Which is better, RCI or II?
Answer:
Question :
What timeshare purchase is best for me and my family?
(How to buy a timeshare)
Answer:
Question :
How do I find the best resale price for a timeshare?
Answer:
Question :
How do I get the best exchanges?
Answer:
Question : I
have (any system) points that are about to expire. What
can/should I do with them?
Answer:
Question : Is
it safe to buy a timeshare on Ebay or Craigslist?
Answer:
Question :
How do I protect myself if I buy a timeshare on the internet?
Answer:
Question :
What special access do I get to TUG by joining as a member?
Answer:
Question :
What is a timeshare and how many different types are there?
Answer:
Question : Is
a timeshare an asset or a liability?
Answer:
Question : Is
a new timeshare worth more than a used timeshare?
Answer:
Question : Is
it ok to take timeshare tours for the gifts when you have no intention
of buying a timeshare?
Answer:
Question : If
I join II or RCI, can I trade my timeshare week for a week at any other
resort?
Answer:
Question 26: If
I get tired of my timeshare, do I have to keep paying the fees?
Answer:
Question 27:
When i'm finished with my timeshare, can I just give it back to the
resort?
Answer:
Question 28: If
I own a "floating week", am I guaranteed any week I want every year?
Answer:
Question 29: If
I own a "fixed week", can I just show up and check in on the
appropriate day?
Answer:
Question 30: If
I wont be using my unit, will my resort rent out my unit and send me
the money?
Answer:
Question 31:
When im on vacation, am I required to attend the owner meetings?
Answer:
Question 32: I
just won a timeshare online, what is the next step in the process to
obtain ownership?
Answer:
Question 33:
The Salesman told me that my purchase would be a good investment, is
that true?
Answer:
Question 34:
The Salesman told me the developer would sell my unit at a profit in
the future if I ever wanted to sell, is that true?
Answer:
Question 35:
The information I was told in my presentation does not match what I
learned here on TUG and by reading my contract. What can I do
to get my money back if my recission period is over?
Answer:
Question 36: I
feel I am a victim of Timeshare Fraud, can the BBB or any government
agencies help?
Answer:
Question 37:
Are there limits on how much my annual maint fees can increase?
Answer:
Question 38: Is
my Timeshare Homeowners Association really representing my best
interests?
Answer:
Question 39:
Can the timeshare developer change the rules for exchanging whenever
they like?
Answer:
Question 40:
Can the timeshare developer change the rules for reserving weeks
whenever they like?
Answer:
Question 41:
What happens if I stop paying for my timeshare?
Answer:
Question 42: What is the difference between a
timeshare fixed and floating week and which is right for me?
Answer:
Question 43:
Can I take my pet to my timeshare?
Answer:
Question 44:
How do I find out the trading power of my timeshare?
Answer:
Question 45: Is
Brian the coolest person you know?
Answer:
Why become a
TUG member?
There is an
extended TUG resort reviews database here on this web site available
only to TUG members. There are over 4000 resorts covered by this
database now and growing weekly. The reviews also include pictures of
the resorts, general resort information and a list of owners' email
addresses who are willing to answer additional questions regarding the
resorts not covered by the detailed reviews. This is a quick
way to see how our members rate the resorts which they have actually
stayed at. It has become a valuable source of information to use when
planning for exchanges.
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© Copyright 1993-2009
Timeshare Users Group
PO Box 1442, Orange Park, Fl 32067
Phone:
(904) 298-3185
page
updated Jun 17, 2009 by B Rogers - Send email regarding this
page to tug@tug2.net