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

Forum: Ask RedWeek

page 1 of 4

«  prev page   1 2 3 4   next page  »

Message Author

By astephens
RedWeek.com Team

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

Timeshare Crusader Lisa Ann Schreier answers the following question in this month's newsletter:

We own three RCI points timeshares, which we purchased on the secondary market. At a recent "owner presentation" at one of them, our sales rep reviewed our properties and told us that two of them would eventually be "caught" by RCI and reverted to weeks. He said that points do not transfer to non-relatives through a resale, and that RCI would contact us and expect us to pay a sizable fee to continue on the points system. Is this true?

Read Lisa Ann's response »

Want to discuss? Post your comments below.

Last edit by maurice on May 11, 2011 12:21 PM.

Avatar for astephens astephens
RedWeek.com Team

5 years ago
May 10, 2011

By rupertm2

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

I have owned a timeshare since 1985, and changed from the week to the point system several years ago. I agree with you 100% that something should be done about receiving false information, whether about points or anything else, especially when the resort people should know that information. It may not be the resort itself, but just the employee. There should be someone to report this kind of situation to. I have also 2 other timeshares through Starwood & Wyndham, and we use them all the time. Timeshare does get a bad rap sometimes. Moon

Avatar for rupertm2 rupertm2

5 years ago
May 10, 2011

By lorettal9

If one buys a Wyndham resort on the resale market does the new owner get all the rights and privilages of the original owner? If it is a weeks membership does it have to be converted to points to exchange in the Wyndham system? If so what is the typical fee to do so?

Loretta

Avatar for lorettal9 lorettal9

5 years ago
May 11, 2011

By johnraniolo

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

What are the full bundle of rights that you mentioned in your response that one does not get when one purchases a Marriott resale?

Also did Marriott recently change one's ability to reserve or exhange a Marriott resale?

Avatar for johnraniolo johnraniolo

5 years ago
May 11, 2011

By tsauthor

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

John:

I'm in the process of "sorting out" all of the changes Marriott has recently made and will be featuring Marriott in next month's Newsletter.

I can tell you that it is not unusual for timeshares such as Marriott to limit the "perks" or advantages of their programs involving hotels. Hilton does something similar...it makes no difference when dealing with timeshare if the product was purchased on the primary or secondary market, but secondary market timeshares can not be used towards Elite status.

Stay tuned for the Marriott story!

Avatar for tsauthor tsauthor

5 years ago
May 20, 2011

By tsauthor

Loretta:

To the best of my knowledge, you do not have to own in Wyndham points in order to exchange. Weeks are NOT going away, despite what many owners and prospective owners have been told.

As far as rights and privilages, I'm in the process of double-checking everything and will post the answers here shortly.

Avatar for tsauthor tsauthor

5 years ago
May 20, 2011

By tsauthor

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

John:

I know that I mentioned that my full answer regarding the recent Marriott changes would be covered in the June newsletter.

I regret to inform you and everyone else that while I have made four (4) attempts to contact Marriott Vacation Club International, they have failed to respond to ANY of my requests to set the story straight and get the word out to consumers.

Unfortunately, this means that I will NOT be able to cover this in the June newsletter. I remain confident that I'll be able to get the scoop for the July newsletter.

Thanks for your understanding. If you come across anything from MVCI in writing that explains things, I'd be most interested in it.

Avatar for tsauthor tsauthor

5 years ago
Jun 12, 2011

By rjenks44

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

I have a wk at the Hotel de la Monnaie in New Orleans. I was approached by their agent to sell for $1200. I signed the proposal over a year ago. This June she {Carolyn Sommers} said she had a buyer, and he would pay approx $375 and I would have to incur $700 plus in expenses. This was over the phone and I promptly refused, stating loudly what I thought of the ridiculous offer. She then backed off and said I would receive the full amt. {double talking}. Three days later, I received a voice mail stating that the buyer decided to purchase another unit and that she would try to sell mine by years end. I fully expected this to happen. I can't help but think this was fraudulent, in that she thought I was desperate and would take the deal. I live 600 miles away and have been able to use my wk only once.. By the way, in Feb. or March this year I received a call from Ms. Sommers, offering me $100 for the unit!!!! I would appreciate any feedback and or advice on the above subject.

Sincerely, Mrs. Jenks [romaynejenks@gvtc.com]

Avatar for rjenks44 rjenks44

5 years ago
Jun 15, 2011

By tsauthor

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

Indeed, you should speak up. Call, write, e-mail and use social media. The resort, the general manager, the exchange company, ARDA and most importantly other timeshare owners!

Avatar for tsauthor tsauthor

5 years ago
Jun 15, 2011

By tsauthor

Loretta:

Just saw this thread...have I already answered this question for you? I apologize to you and others...there seems to be a glitch in my getting the questions.

Please let me know!

Avatar for tsauthor tsauthor

5 years ago
Jun 15, 2011

By jayjay

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

rjenks44 wrote:
I have a wk at the Hotel de la Monnaie in New Orleans. I was approached by their agent to sell for $1200. I signed the proposal over a year ago. This June she {Carolyn Sommers} said she had a buyer, and he would pay approx $375 and I would have to incur $700 plus in expenses. This was over the phone and I promptly refused, stating loudly what I thought of the ridiculous offer. She then backed off and said I would receive the full amt. {double talking}. Three days later, I received a voice mail stating that the buyer decided to purchase another unit and that she would try to sell mine by years end. I fully expected this to happen. I can't help but think this was fraudulent, in that she thought I was desperate and would take the deal. I live 600 miles away and have been able to use my wk only once.. By the way, in Feb. or March this year I received a call from Ms. Sommers, offering me $100 for the unit!!!! I would appreciate any feedback and or advice on the above subject.

Sincerely, Mrs. Jenks [romaynejenks@gvtc.com]

This is the typical method that upfront fee resale scam companies use .... all of a sudden the buyer backs out but they keep your upfront fee telling you they will sell it eventually .... they NEVER DO. All they want is your upfront fee.

You should file a complaint with the attorney general in the state the scammers are located.

Last edit by jayjay on Jun 17, 2011 08:13 AM.

Avatar for jayjay jayjay

5 years ago
Jun 17, 2011

By j227

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

You do not get the right to turn in your week for Marriott Reward points or particapate in the new Destinations Point program.

Avatar for j227 j227

5 years ago
Jul 13, 2011

By j227

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

i own 9 weeks of Marriott timeshare. Marriott has done a really poor job of getting out detailed info on the new Vacation points. They sell the big picture, but fail to adequate expain how inventory is actually managed. I like the flexiblity of the new points, but the program is very complicated at the detail level.

Avatar for j227 j227

5 years ago
Jul 13, 2011

By maryh452

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

Waiting for the answer.

Avatar for maryh452 maryh452

5 years ago
Jul 13, 2011

By tsauthor

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners 'Caught' By RCI

Regarding MVCI resale usage issues...When I did not get any answers directly from Marriott, I contacted Interval International who graciously provided me with another contact at MVCI. I hope to hear from him later on today.

It is very unfortunate that Marriott is making this so very complicated for owners, prospective owners and of course, forums such as this where we try to get good information out to people.

I have to say that while I try to keep things positive, this has me worried. What's the old saying..."Companies with nothing to hide, hide nothing."

Avatar for tsauthor tsauthor

5 years ago
Jul 13, 2011

By annmariec20

We own a timeshare in N Y C. We own a week which can be used in 1, 2 up to 7 nights at a time. It is so oversold, We cannot make reservations if we are not 9 months in advance, and This is just for a night in New York. The mtnse fees have gone from 600 to $2100 per year. after paying $21,000 , they are now on the market for $500. (sometimes less) What recourse do we have? amcordaro@comcast.net

Avatar for annmariec20 annmariec20

5 years ago
Aug 08, 2011

By ken1193

Limited options...

annmariec20 wrote:
We own a timeshare in N Y C. .....fees have gone from 600 to $2100 per year. after paying $21,000 , they are now on the market for $500. (sometimes less) What recourse do we have?
I assume that you are referring to the Manhattan Club. The exorbitant maintenance fee increases there have many people currently "dumping" their ownerships, thereby depressing the resale prices. The resale market tends to finds its own pricing level, so you don't really have too many options other than to "pony up" those big fees or (...like many others) just "sell out" at a substantial financial loss.

Last edit by ken1193 on Aug 08, 2011 10:09 AM.

Avatar for ken1193 ken1193

5 years ago
Aug 08, 2011

By j227

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

Lisa, your response has nothing to do with the question.

Avatar for j227 j227

5 years ago
Aug 08, 2011

By steve1184

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

I think a timeshare is a valuable asset and you should be freely able to sell it, give it away, do whatever you want to do. The idea that the developer or RCI or anyone else would be able to restrict that is ridiculous.

Call your congressman and see if you can get some legislation stating that you have property rights to a timeshare. If you have none or they are greatly degraded in any way you have been defrauded. Your property is being made worthless by the actions of others and this is a tort. They are stealing from you.

Think valuable asset. Like any other valuable asset. The timeshare business has always been filled with blue suede shoe operators and crooks, but you should not buy anything from anything that can have the value that you paid for depleted by the actions of others. That's just ridiculous.

Last edit by steve1184 on Nov 15, 2011 06:20 PM.

Avatar for steve1184 steve1184

5 years ago
Nov 15, 2011

By jeffreyp

RedWeek.com May E-mail Newsletter Q&A: Second Market Timeshare Owners

I bought directly from Wyndham in Myrtle Beach and was told that secondary buyers do not get the same priority with regard to getting units on the oceanfront. They claim it depends on points and your original deed. I have never received proof if this is true. Smuggler's Notch in Vermont has told me that the activites package (includes lift tickets and kids camp) can only be purchased with original sales, not in secondary market sales. Not sure how Wyndham will handle this now that Smugglers is a Wyndham resort.

Avatar for jeffreyp jeffreyp

5 years ago
Nov 15, 2011

page 1 of 4

«  prev page   1 2 3 4   next page  »

Reply to Topic

Available only to RedWeek.com Guests and Members
Sign in or register for free