Post reply

Re: Buying Timeshare? (by Don P.):

I have owned timeshares from almost the beginning of the concept. My first timeshare was a 13 year term. It was in Atlantic City, New Jersey. Then the timeshare industry grew and I purchased two in Ormond Beach, Florida. I used them exclusively for trading through RCI. I had great exchanges for many years until RCI was bought out by Cendant and they started selling the prime weeks on the open market depriving members of those exchanges.

Then the maintenance fees started increasing more that expected. I was also hit with special assessments. It became more than I was willing to pay especially since I was having trouble getting decent exchanges through RCI.

I finally got rid of those two timeshares through deed backs two years ago. I have just one timeshare left. That is at the Jockey Club in Las Vegas. This one I will never part with. I go there often and when I don't use it I rent it out through their in house rental program. It pays my maintenance fees and I've never had a problem renting it. It's on the strip between Cosmopolitan and Bellagio. It's run by Tricom Realty. They keep the maintenance fees low and the property is well maintained.

If I choose to travel anywhere besides Las Vegas I will go to Redweek or another site and rent one. This way I am not committed to ever increasing maintenance fees and assessments.

I think Christnea70 wrote a very helpful thread. Her advise is right on the money. I hope more people will read her thread before committing themselves to a lifetime contract.