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May Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

[Q=jayjay] [Q=steve1184] [Q=jayjay] [Q=steve1184]Remember how it is trying to get the week you want? Some resorts are likely worse than others but I have known people who were calling in every week for months trying to get what they supposedly own.[/Q] That's why I'd never consider buying a floating week with a floating unit .... when you buy a deeded week, you own that week and that unit .... no one can take it away from you. [/Q] [Q]Sure they can, they can just charge you a $4000 assessment. You are not dealing with a normal item and you are at the mercy of people who are not trustworthy.[/Q] What does a $4000 assessment have to do with this topic? If you have to pay a special assessment then a deeded timeshare is still yours to do with as you wish as long as it's in your name (you can use it, sell it, rent it, let a friend or relative use it etc).[/Q] Everything, I think. It was stated that if you have a deeded timeshare that is somehow yours. It's really not, you really don't control it and they can essentially take it away from you by overcharging you. Why would you pay a $4000 assessment for example, if you could more than likely rent the same unit for much less and pay only rent? No more maintenance. No more payments. That's the problem with the whole timeshare idea. You have people that you are forced to be in bed with who don't have your best interests in mind. They have their own. Giant conflicts of interest. Remember that developer dominated project, it might have been in the Caribbean? The developer took it all away from the owners somehow. There was an owner group started, it was all written up on that owners group newsletter that I can't remember the name of. Quite a scandal. Look, be realistic. Lets say you have 150 units divided into 50 weeks each, each week has a separate owner. Up to 7500 owners. Then, there is the developer on the other side of the equation with all the unsold weeks, which he owns, votes, etc. He may not have to pay the same assessments you do, because no one is watching that closely. Your interest is greatly diluted by how many of you there are. His is magnified by there is only him and he owns the rest, including all those that he got back free for non payment of assessments. True, there are some timeshare projects that have active owner management and those have at least the potential of lacking the inherent conflict of interest. But there are few of those because being the developer is obviously where the money is.