The past few weeks, we’ve been finding more and more news sources that are speaking on the issues behind the idea of timeshare ownership. This week, we noticed the Tennessee Department of Commerce and Insurance decided to join the conversation with a few pandemic timeshare tips.
In an article published last month, TDCI started off by saying, “timeshare owners may be having second thoughts about their purchases.” But they didn’t exactly shed light on some of the consequences of the decision. So it was odd that the article was titled in this way.
Despite the obvious travel limitations, it would have been good to see the department go into detail on consumer’s need to “reevaluate personal budgets”. The impact of COVID as a whole has been a setback for millions. While some people are bummed about their vacant vacation, many don’t even know how they’re going to put food on the table – after years of abundance.
The Department’s Article Takes A Confusing Turn.
Instead of having compassion for those crippled by the product against their wishes, the TDCI decided to share some tips on how people might go about escaping the “financial burden”. This was, of course, after they told us how timeshare resorts have graciously refunded 2020 cancellation fees. “While many consumers are pleased with their timeshares, some owners want to know their options,” the article reads.
While we’d like to believe vacation owners are just now realizing the purchase isn’t advantageous, they’re not. We know because they’ve called us for over six years now. Sadly, government agencies like the TDCI are telling struggling buyers to “double up on their points” to combat the burden. But it gets worse.
“Another option, and one of the biggest selling points of a timeshare is that they can be passed on or gifted to a friend or family member,” they say.
Not All Timeshare Advice Is Heed-Worthy.
Listen, giving away something like this to someone you care about is never a good idea. We wouldn’t even recommend you give it to your worst enemy. So why would they suggest this? The writer appears to be putting their foot in their mouth before even going over an owner’s options. “However, if you still wish to exit, here are some of the best ways to navigate the process of getting out of your timeshare,” it continued.
From here, the TDCI tells readers to contact the timeshare company to work something out. “Working directly with your timeshare company is oftentimes the easiest and least costly option to exit the timeshare,” it reads. Discounts and fee waiving options are also mentioned.
Proceed With Caution, Questions Everything.
While it is always best to first reach out to your timeshare to understand what options may be available, most owners are simply told their timeshare does not take back their interest. There isn’t much they can do or say to gain favor.
Because of this, owners should be wary of continued sales tactics to resolve their complaints. Tons of websites are publishing pandemic timeshare tips right now. Contacting the resort is pretty much common sense. But our clients almost always inform us that doing so does not resolve their issues.
Selling or Renting Timeshares is Usually Bad Commerce.
The article continues to mention other anomalies like selling the timeshare with a licensed realtor in Tennessee to ensure a sale. But shouldn’t the state’s Department of Commerce and Insurance know a lot about numbers and probability? Owners looking to sell unwanted timeshares oftentimes can’t even get rid of them for $0.01 on eBay. Nonetheless, the article goes on about the possibilities of resale.
“For owners who still owe money on their investment, this is one of the few ways to recover some losses, particularly if the unit is in a desirable vacation destination. Depending on the terms of your contract, you may be able to rent your timeshare out for a year or two while you are not using it. The developer might also give you the option to defer your payments for a period while it is not being used,” TDCI says.
While this may all sound really good and super smart, it’s meaningless when a market is almost non-existent. Not to mention the reality of the pandemic – that the government agency appears to have forgotten. After all of this hot air behind their pandemic timeshare tips, TDCI finally shares with us the real reason behind their article.
Final Timeshare Solution Conveniently Explained.
A link to a “responsible” cancellation company was listed within the last few paragraphs of the page. While they did warn their readers about potential scams in the exit industry, they seem pretty confident in their backing of the ARDA related firm. Timeshare developers and ARDA share the same motives, so this seems to be an interesting referral.
Anyways, TDCI says you can contact them to speak to, ”Individuals who are trained at helping you understand your timeshare and how to properly exit it.” But before you get excited, it’s always best to crosscheck any advice you receive in this industry.
Navigate Pandemic Timeshare Tips Wisely.
When it comes to vacation ownership, the road to devastation is painfully common. Most desperate buyers try to work things out with the resort only to find themselves under further contractual obligations. After trying to rent or sell, they often find themselves with more debt and the same timeshare burdens. Even most third party exit firms are scams – no matter how trustworthy they appear or who recommends them.
If you’re experiencing a frustrating timeshare situation, then take your time and wait to speak to someone that’s willing to listen before offering advice. When pandemic timeshare tips involve selling something you can’t even use, you have to be willing to seek a second opinion. In our opinion, TDCI could have taken a better approach in their research before sharing this with consumers and provided more effective solutions.