ARDA Supports the Proposed Florida Timeshare Resale Accountability Act
Sunday, October 9, 2011
This week the American Resort Development Association (ARDA) announced its support for the Florida Timeshare Resale Accountability Act of 2012.
This proposed legislation was presented by Florida Attorney General Pam Bondi and drew support from both ARDA and the AARP.
Howard Nusbaum, president and CEO of ARDA, explains, “ARDA and the ARDA Resort Owners’ Coalition (ARDA-ROC) have long been concerned by the growing number of fraudulent companies tainting the timeshare secondary market and have worked together to provide consumers with reliable resale information. We salute General Bondi for tackling this important issue.”
The Impact of Florida Timeshare
Calling Florida a bellwether state for timeshare regulatory standards, ARDA says that if passed, the proposed timeshare resale act will protect consumers and promote an ethical and effective secondary market for timeshare resales.
ARDA points out that the proposed timeshare resale and timeshare transfer regulation will:
- Require timeshare resale companies to disclose the terms and conditions of services being offered.
- Provide a reasonable rescission period.
- Provide for the regulation of timeshare transfer and rescue companies.
- And will provide for penalties for companies that engage in misleading and fraudulent practices.
ARDA deserves much credit for the accountability it has helped promote in the timeshare industry. Additionally, the timeshare Model Resale Act developed by ARDA, which provides guidelines on selecting a timeshare resale services company and consumer advisories to caution owners about specific predatory business practices, no doubt helped inspire parts of the new direction proposed by Florida’s Attorney General.
Efforts by ARDA and industry leaders to address the inconsistencies in the secondary marketplace include the development of the Model Resale Act, guidelines for selecting a resale services company and consumer advisories
For more information, visit http://www.arda-roc.org/resales. More from The Timeshare Authority here: Important Timeshare Resale Industry Legislative Changes in Florida
