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special assessment fees (by Marl M.):

Basically the timeshare ownership here was stolen from all the former Taino Beach Resort owners who didn't agree to pay a skyrocketed new "assessment" fee and new annual maintenance fees. All these fees skyrocketed after 2004 hurricane, which was the year after Arne Peterson, the original initiator/owner of RCI, was murdered. Our contract said fees could only go up 10% /year. A number of us owners tried to work together and sue, only to find that we had no standing whatsoever in US courts and were instead subject to Bahamian law. So essentially, you are on your own if the new mgmt" wants to raise the mgmt fees to $1000 a year. You have to pay it, or your ownership title will be taken away. So you might as well just skip the timeshare idea, and pay the best hotel rates you can uncover with a little diligent internet research. Since your timeshare, if you pay $7,000 for it, is like throwing away 2, 3 or 4 years of your future vacation money. If you paid $10,000 for it, throw away 5 years of future vacations. You get the idea: don't buy timeshares at all. Bargain hotels are always to be had, here and everywhere else in the world. You have only to look at the resale price of timeshares to see what a rip-off it is. You might ask $2,500 for a 4bdrm huge unit you paid $20,000 for up front.

elizabethj39 wrote:

I am wondering if anyone has been able to fight this assessment fee and still be able to use their timeshare.I was not notified of the fee until June 07 and did not know that the resort had a website until that time. I have been trying to get some legal advice about it but have not had any luck. I have owned this timeshare for almost 7 years and have never been able to book a stay there. I have deposited it a few times but they always deposit it as a 1 or 2 bedroom and I have a grand villa which is 4 bedrooms. Does anyone else have similar problems with this resort?