![]() ![]() Note: Exiting may cost you money, though.įor example, when Dan Bailey tried to get rid of his timeshare in Orlando, the company let him off the hook - for a price. ![]() You can engage with your timeshare company and ask about exit options. Most timeshare companies don't want unhappy owners. The true resale market is typically much much lower than what someone has paid." The market does not empathize with what you paid for your timeshare. "Selling a timeshare can be tricky, especially in today's travel climate," says Mike Kennedy, the CEO of KOALA, a vacation rental platform that specializes in timeshare rentals. Or you can also contact a timeshare reseller, although that can be complicated. ![]() You can list your timeshare on a website like the Timeshare Users Group. A site like ARDA's can connect you with timeshare developers who have free or low-cost exit options or professional licensed real estate brokers that specialize in timeshares. There are three ways to get out of timeshare in normal times: (Gamel says the research isn't relevant because it is not specifically about timeshares.) It says 85 percent of timeshare owners who go to contract regret their purchase. An ARDA-funded report scheduled to be published next month finds 87% of timeshare owners rate their timeshare ownership experience as "good" or "excellent." However, a frequently-cited University of Central Florida study concludes the opposite. They wonder how the contracts that bind them to a timeshare for life are even legal.Īnd people have decidedly mixed feelings about their timeshares. These same developers also have hardship programs that offer different types of relief for people who have medical emergencies or lose their jobs."Įven in good times, owners sometimes struggle with being on the hook for a timeshare. "Many of them are offering different types of relief, including loan deferrals until people get back on their feet. "If owners are having financial troubles paying their timeshare mortgage, they should reach out to their developer for help," says Jason Gamel, CEO of the American Resort Development Association (ARDA), a trade association representing the timeshare and vacation ownership industry. ![]()
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