Timeshare Owners

In today’s post, I answer questions about Canadian timeshares, finding the inside story on resorts, and more.

Today’s post is in response to an email I received over the weekend:

Thanks for the helpful information on your website, especially Buying Timeshare FAQs, and the Timeshare Advice link at the bottom of the Why TimeShare page.

I wonder if you could answer a question about the following excerpt from your August 19, 2005 article “Seven Important Considerations When Buying Timeshare on the Resale Market”:

“6. Some timeshare units are inevitably located in a facility that has been partially remodeled. Make sure you’re not paying a new-unit price for an old, beat-up timeshare.”

Having no experience with timeshares, I’m curious as to why, in the scenario you mention, a resort would allow an old, beat-up timeshare to remain that way without being remodeled?  How units are selected for remodeling by a resort?

First, since you are new to timeshares, I recommend that you pick up a copy of Lisa Ann Schreier’s Timeshare Vacations for Dummies. This book is packed with more helpful info than any other print resource I’ve seen. It makes it much easier to deal with a resort or a reseller if you know what questions to ask; it’s a matter of protecting your interests. Even seasoned timeshare pros will learn something from this book.

It’s not often that a resort will expect to reap full sale value for a timeshare in dire need of remodeling, but it does happen. It is important to be aware that not all resorts are created equal. Some resorts still operate by the same guidelines they used in the bad old days of the timeshare industry’s infancy, when customers practically had to be tricked into buying. Though most resorts have discarded this business model, it is absolutely vital to thoroughly research any resort before you buy timeshare.

It is always helpful to hear what other people are saying about the property in question. One good online resource for learning more about a resort is TripAdvisor. TripAdvisor offers lots of travel-related information including reviews of hotels, resorts, and timeshares. These reviews can be quite candid. Keep in mind that TripAdvisor has a very visible online presence, and resorts are not ignorant of this fact; I would guess that a small number of these reviews are written by resort employees looking to either spruce up their own image or denigrate that of a competitor.

I also encourage prospective timeshare buyers to check out the resort in person whenever possible.

I wonder if you’ve considered enhancing your search engine: After entering Canada in the Country field, I was required to click open every (unique) property entry to find out which coast it was on.

While security concerns prohibit me from divulging specific information on this subject, I can tell you that in a short while it will be much easier to get information from our database of timeshares for sale or rent, and this in turn will make it easier to do searches for specific locations (including Canadian timeshares).

In any event, do you have any idea why there are no rentals or units for sale anywhere in Nova Scotia or PEI?

Having spent some time in this part of the world, I find myself wondering the same thing. Canada’s East Coast is a great place to vacation. However, it seems that most resort developers are attracted to destinations with reliably huge demand for timeshares – for instance, Orlando or Cancun. The timeshare market in Canada has grown considerably in the past few years, but this growth appears to be largely limited to British Columbia. Resort development companies might be reluctant to build on the east coast of Canada because they find it easier to impress their shareholders by building resorts in proven resort locations. If statistical data shows that the majority of people would rather spend a vacation in Whistler instead of Halifax, resort developers would naturally be obligated to cater to the location with the greatest demand for timeshares. 

Do timeshare websites such as yours only deal with large resorts?… (vacation clubs, campgrounds) Are there not timeshares for smaller facilities (EXcluding a yacht/houseboat) — even a standalone home?

It is possible to find all kinds of timeshares online. Whether these are exotic timeshares owned and operated by the world’s largest hotel companies, or campground memberships at more modest facilities, there is an almost endless variety of timeshares available.

However, in the resale market, it is easier to find timeshares from large resorts, simply because these resorts are larger. The more timeshare units a resort has, the greater the chances of finding them on the resale market. This is not to say that resale opportunities for timeshares at smaller resorts do not exist; rather, they may be harder to find.

If you can’t find what you are looking for on our site, don’t give up! We know a lot of people in this industry, and by networking all of these resources together we are able to help people find the ideal timeshare or vacation rental. If you fill out our contact form, a representative will contact you shortly.

Thanks very much for your questions! I hope I have answered them to your satisfaction. Tune in next time for timeshare tips, news, and more from the Timeshare Owners’ Blog.

Hurricane Emily will hit Jamaica in the next 24 hours; a hurricane warning is in effect for the entire island. Meanwhile, Grenada assesses storm damage. Timeshare owners are wary of storm.

Hurricane Emily’s course is predicted to take it past the island nation of Jamaica within the next 24 hours. A hurricane warning remains in effect for the entire island. A hurricane watch is also in effect for the Cayman Islands. With winds gusting as high as 135 miles per hour, Emily is the second major hurricane to hit this area of the world in the past two weeks and has timeshare owners on edge.

On the Cayman Islands, timeshare owners and residents alike eye the storm’s approach nervously. With the hospitality, travel, and tourism industries forming the formidable backbone of these islands’ infrastructure, a holiday paradise like this can ill afford a brush with Emily.

Mexican authorities have advised people staying on or near the Yucatan penninsula to prepare for hurricane conditions. The storm is expected to collide with the Mexican coast sometime next week. This region encompasses the highly-publicized “Riviera Maya” area of Mexico, with miles of coastline and innumerable resorts catering to the vacationing public.

Grenada is starting to pick up the pieces left after this latest hurricane, but the damage is significant. Flooding in low-lying areas has left many people homeless on an island still recovering from previous storms. A meeting of Grenada’s National Emergency Advisory Council (NEAC) was held yesterday at 4:00 p.m. local time. In attendance were all the District Disaster Coordinators and key stakeholders. A detailed Damage Assessment Report was submitted for each district, but there are no official figures yet as to how bad the damage actually is. So far, these reports have determined that one fatality resulted, when a man in St. Patrick North was killed when his home was destroyed by a mudslide.

Year-round Residents Face Greater Challenges than do Timeshare Owners

Analysts predict that the tourism industry in these areas will be hit hardest by this storm, but agriculture will be devastated as well. This problem can be expected to worsen, especially in Jamaica. In the trail of Hurricane Ivan, last year the price of most foodstuffs jumped sharply in response to massive crop damage from flooding and high winds. Jamaica is still trying to recover from Ivan as well as more recent hurricanes. With another potentially deadly storm poised offshore, the >prognosis looks grim.

The year-round inhabitants of these islands will of course be hardest hit by this disaster, but seasonal residents can expect considerable property damages as a result. Those who own timeshares in this part of the world can do little but watch and wait, hoping for the best but expecting the worst.

Though Tropical Storm Emily continues to menace the Caribbean Islands, Florida timeshare owners are relieved to escape the brunt of this storm.

Many Florida timeshare owners breathed a sigh of relief yesterday as they heard that Hurricane Emily had been downgraded to a tropical storm, and that her present course will steer this hurricane towards the southern portion of the Caribbean Sea.

This change is partly due to a semi-permanent area of high pressure known as the Bermuda High. At his time of year, it can usually be found over Bermuda, hence the name. This high-pressure zone, if it is particularly strong, can drive hurricanes toward the continental US. This year, a weak Bermuda high has pushed Tropical Storm Emily south, and Florida homeowners and vacationers alike are quick to show their relief.

However, Tropical Storm Emily, while no longer a hurricane, can pack “hurricane conditions“, making those who own timeshare in the Caribbean Islands extremely nervous. The projected course of this hurricane, at the time of this writing, takes it across the central Caribbean, possibly ending up near the coast of Venezuela later this week. Earlier, a hurricane watch was in effect for Barbados, Grenada, The Grenadines, St. Vincent, and St. Lucia. Reports from Barbados indicate that Emily has dumped a large amount of rain on the island, but has caused comparatively little damage. Because of its erratic path and changes in intensity, this storm has been described as “unpredictable”.

At 3:35PM local time, Tropical Storm Emily was estimated to be about 175 km off the coast of Trinidad. People all over the Caribbean coast and the Gulf of Mexico will be following this storm with interest. As tropical storms in the Caribbean have been known to cause significant loss of life, our hopes and prayers go out to those living in the path of these storms.

For the latest news on storm conditions in the Caribbean, visit Caribbean-On-Line.

Hurricane Dennis hit areas previously damaged by Hurricane Ivan ten months ago. Damages, though less than expected, still cause concern among timeshare owners and the timeshare-owning community.

After battering Florida’s Gulf Coast, Hurricane Dennis has dissipated. Though damage reports are much lower than initial estimates ($1 billion as opposed to a predicted $7 billion), Florida’s hurricanes pose challenges for the timeshare owners that own time at nearly 30,000 time-sharing units in the Sunshine State.

Florida is the timeshare capital of the world – however, vacationers who consider buying Florida timeshare would do well to examine the hidden costs. Last year, hurricanes converged on the Sanibel Island/Captiva Island area, and damage done to timeshare resort properties was severe. Many resorts in this area are still undergoing repairs at the time of this writing. In much of Florida, timeshare maintenance fees have increased to cover hurricane damages, and timeshare owners are often being charged, on average, $100.00/year above and beyond their usual maintenance expense. Some owners have been unable to use their timeshare because the damage has been so extensive.

Anyone looking to buy timeshare should investigate the property fully. It all boils down to posing the right questions to the timeshare seller, whether it be an individual owner or a resort company. Ask up-front about hurricane damages and how they affect the maintenance fees. Demand actual numbers! As a consumer, you have the right to get the complete lowdown on any property before you buy. On the other hand, if the timeshare you already own is damaged badly enough as to be rendered uninhabitable, ask about your exchange options. Many timeshare owners have found that resorts and their affiliated exchange companies are quite willing to help an owner exchange timeshare weeks in this situation.

Hurricane-damaged properties are very attractive on the resale market, because of their low price. This could pose an incredible opportunity for a timeshare buyer. People buy high-demand timeshare weeks in these circumstances for as little as $50.00! Then, when the resort is repaired, they get to spend their time in a freshly renovated unit that often boasts better amenities than it did before it was damaged. However, if you plan on purchasing a damaged property, be aware that resorts pay for their renovations by charging maintenance fees and special assessments to timeshare owners. True, the cost can be divided between hundreds of timeshare owners, but the cost is directly proportionate to the amount of repair necessary. Even though timeshare buyers can save thousands on hurricane-damaged timeshares, the abrupt increase in maintenance fees can prove disconcerting to a timeshare owner. One is left with the choice of either absorbing the increase in maintenance fees (which are still likely to total much less than the original purchase price of a new property), or exchanging banked weeks for a timeshare in better condition. The answer? Ask the timeshare seller whether or not the maintenance fees and special assessments have been paid to date.

No matter where you buy timeshare, be sure to pursue your own due diligence with regard to any timeshare property. Research any timeshare thoroughly before buying. A well-thought-out timeshare purchase can mean years of happy vacations for the rest of your life.