Timeshare Maintenance Fees Explained

If you own a timeshare, you know there are annual dues involved in vacation ownership. If you are a prospective timeshare owner, it’s important that you understand maintenance fees. Either way, it is important to comprehend why you pay these maintenance fees, what they are for, and how much they can be. As such, we want to take this opportunity to take a closer look at maintenance fees to help you where ever you are in your timeshare ownership journey.

What Are Timeshare Maintenance Fees?

So what are timeshare maintenance fees exactly? Simply put, timeshare maintenance fees are annual dues that cover the maintenance of your home resort. But what does “maintenance” entail? This can be numerous things and can certainly vary. Typically, maintenance fees will cover resort upkeep, renovations and upgrades, landscaping, taxes, insurances, utilities, and employee wages—basically, everything that keeps these vacation ownership resorts up and running effectively.

Think of owning a home, or even a vacation home. There are regular costs that come with owning a property such as taxes, utility bills, appliance upgrades, and other unexpected expenses. Timeshare owners do this on a larger scale to help maintain their home resort. Rather than dealing with the stresses of upkeeping a vacation home, the resort manages the maintenance and bills owners accordingly.

How Are Timeshare Maintenance Fees Paid?

When the maintenance fees are collected will vary by resort developer or even resort brand. Most often, the fees are billed annually. When you are purchasing a timeshare, it’s important to find out when these fees will be due for you specifically so you can ensure your finances are in order to make this payment. Typically, timeshare maintenance fees are due either at the beginning of the calendar year or around the time your usage begins.

What Do Timeshare Maintenance Fees Cost?

The cost of maintenance also varies greatly by which resort or brand you own at, amount of points you own, and/or the time of year your ownership week is. Every timeshare owner pays maintenance fees, meaning the large overall fee is divided by every owner at said property. In the 2022 ARDA State of the Industry, the average annual maintenance fee per week interval was listed at $1,120.

Not only do maintenance fees vary for every owner, but they also vary every year. It is not uncommon for maintenance fees to rise annually for various reasons. This can cause stress for owners as they plan for one annual payment but it continues to rise and can often become too much.

What Happens If I Can’t Pay My Maintenance Fees?

Upon purchasing a timeshare, you sign a contract that you agree to pay your annual maintenance fees through the length of your ownership. If maintenance fees are not paid, it greatly affects the use of your ownership and can eventually affect your credit and financial standing.

If your fees are unpaid, you won’t be able to book your next vacation and you may face late fees and interest payments. If you continually fail to make these payments, it can affect your credit score or even foreclosing on your property. The bottom line is, these fees need to be paid so it’s important to understand what you’ve signed on for when you buy a timeshare.

Stop Paying Timeshare Maintenance Fees

While maintenance fees are necessary to keep your ownership active and keep the resort properties in tip-top shape, they can become a financial burden. Especially if you are no longer using your timeshare regularly. Are you ready to stop paying timeshare maintenance fees? We can help you sell your timeshare and allow you to be free of those annual dues. We can help you sell by advertising your timeshare on our global online marketplace that attracts thousands of interested buyers every day.

Maybe you aren’t looking to unload your timeshare for good, but you aren’t able to travel this year and don’t want to waste money paying timeshare maintenance fees. We can also help you to rent out your timeshare. One of the most common reasons people will advertise their timeshares to rent is to cover the annual cost of maintenance fees.

If timeshare maintenance fees are becoming a burden, don’t hesitate to contact us. We can find the perfect solution for you!