Do Maintenance fees increase after signing contract?

[cdnj]

We've only purchased directly from developers in the past. (Never again) I have one now telling me that once I sign a resale contract, the resort will often times raise the mf. Have any of you found this to be the case?

 

[Panina]

We've only purchased directly from developers in the past. (Never again) I have one now telling me that once I sign a resale contract, the resort will often times raise the mf. Have any of you found this to be the case?

The maintenance fees are the same whether you buy resale or from the developer.

 

[VacationForever]

Maintenance fees are revised, usually upwards, every year, just like inflation and wage increases. Maintenance fees are the same whether you buy from developer or resales. The fees are used to maintain the property.

 

[DeniseM]

When maintenance fees increase, they increase for all owners and the info is openly published - usually in a yearly newsletter that accompanies your maintenance fee bill. They cannot just increase the maintenance fee for specific individuals or for new buyers.

*One exception - in Mexico they have all kinds of maintenance fee structures, because the laws are looser there.

 

[theo]

....in Mexico they have all kinds of maintenance fee structures, because the laws are looser there.

I admire your charitable spirit of diplomacy and tact, Denise.
If I had to come up with a single word to describe (what passes for) laws in Mexico, "looser" would be much too kind.

 

[theo]

We've only purchased directly from developers in the past. (Never again) I have one now telling me that once I sign a resale contract, the resort will often times raise the mf. Have any of you found this to be the case?

As already pointed out, in the U.S. maintenance fees are the same for all owners, regardless of purchase origin. Predictably, that sales weasel was simply misrepresenting the truth --- which is always what they do best.

Some people have suggested planning for a 4-6% annual increase in maintenance fee amount. I haven't examined my past payment records in great depth, but I suspect that's probably a reasonably accurate "rule of thumb" average increase.

 

[Passepartout]

Rising tide (and maintenance fees) lifts all boats (and owners costs)

 

[cdnj]

Thanks everyone. Finally learning not to trust these "sales people". Too bad that happened AFTER I gave them 10k. Lesson learned!

 

[theo]

Finally learning not to trust these "sales people". Too bad that happened AFTER I gave them 10k.

How long ago did you "sign"? Any chance you are still within the contract rescission period provided by state law?

 

[cdnj]

How long ago did you buy? Any chance you are still within the contract rescission period provided by state law?

Unfortunately it was August. There was so much fraud involved. We were definitely not on our game that day!

 

[theo]

Unfortunately it was August. There was so much fraud involved. We were definitely not on our game that day!

Don't beat yourself up. What's done is done and many people have ponied up several times your purchase price.
Use and enjoy what you bought.

Timeshare developer sales weasels are masters of deceit, obfuscation and psychological manipulation. You could very well have been on your game that day, but those weasels conduct planning and strategy sessions every day. They are smooth, accomplished experts at what they do (and I hope that there is a special place in hell for them later for doing it).

 

[presley]

You can pretty much count on your MFs going up every year. It doesn't matter where you bought. Inflation is inflation.

 

[brianfox]

At every sales pitch we attended, the sales lizard would use the phrase "lock in the price of your vacation", stating that while hotel prices go up and up, we would always have a guaranteed week or that the number of points to book the week would never change. While those things are technically true, they never seem to mention that MF always go up and up, and there may be a surprise Special Assessment on any given year.

But I'm sure it just slipped their mind.

 

[theo]

At every sales pitch we attended, the sales lizard would use the phrase "lock in the price of your vacation", stating that while hotel prices go up and up, we would always have a guaranteed week or that the number of points to book the week would never change. While those things are technically true, they never seem to mention that MF always go up and up, and there may be a surprise Special Assessment on any given year.

But I'm sure it just slipped their mind.

Predictably, since it would obviously be against their own self-interest (i.e., sales commission), there is never so much as even a momentary passing reference to the resale market, where that exact same guaranteed week or those exact same points can be acquired for pennies on the dollar compared to their bloated developer figures.

But I'm sure that too just slips their mind.

 

[brianfox]

Predictably, since it would obviously be against their own self-interest (i.e., sales commission), there is never so much as even a momentary passing reference to the resale market, where that exact same guaranteed week or those exact same points can be acquired for mere pennies on the dollar compared to their bloated developer figures.

But I'm sure that too just slips their (alleged) mind.

Talking about the resale market only confuses the mark - er, I mean customer. And the resale market could expose them to unscrupulous sellers.

 

[Passepartout]

Talking about the resale market only confuses the mark - er, I mean customer. And the resale market could expose them to unscrupulous sellers.

I know that the majority here are timeshare owners (or past owners who stick around for the social aspect of TUG), but it seems to me that the ever-and sometimes statutory increase in MFs has made rentals more attractive in many cases than ownership. Unless one is tied to school holidays, one can often rent for less than MF and with no buy-in or timeshare exit cost.

Jim

 

[VacationForever]

I know that the majority here are timeshare owners (or past owners who stick around for the social aspect of TUG), but it seems to me that the ever-and sometimes statutory increase in MFs has made rentals more attractive in many cases than ownership. Unless one is tied to school holidays, one can often rent for less than MF and with no buy-in or timeshare exit cost.

Jim

Many of us do not feel comfortable to rent from private owners. We compare our MF to resort retail rental rates and it is still cheaper to own.

 

[Passepartout]

Many of us do not feel comfortable to rent from private owners. We compare our MF to resort retail rental rates and it is still cheaper to own.

Well, DUH! But many DO feel comfortable renting from private parties, or outfits with some rules- like VRBO or AirBnB. and again, even if the rental is more than just the MF, there's no buy-in, exchange fee or membership, or timeshare exit cost. All-in-all, I think renting makes (dollars &) sense in the current environment. Obviously there are exceptions either way, so my advice is to shop carefully, keep your pencil sharp, verify any agreements, and insure your travel if there is more money involved that would seriously impact your life or happiness.

 

[theo]

There are of course lots of different perspectives and lines of reasoning, all of them valid. We keep and use our fixed weeks (despite increasing maintenance fees) in large part because we could not realistically hope to reliably find rentals at all in our particular area of preference in that particular high demand / low supply time period, rental prices notwithstanding.

But......if / when maintenance fees reach or exceed our "pain threshold" at some future point in time, those weeks will promptly become expendable and we will deal with and accept the lack of certainty in rental availability then.

 

[cdnj]

Don't beat yourself up. What's done is done and many people have ponied up several times your purchase price.
Use and enjoy what you bought.

Timeshare developer sales weasels are masters of deceit, obfuscation and psychological manipulation. You could very well have been on your game that day, but those weasels conduct planning and strategy sessions every day. They are smooth, accomplished experts at what they do (and I hope that there is a special place in hell for them later for doing it).

Thanks so much!

 

[LannyPC]

At every sales pitch we attended, the sales lizard would use the phrase "lock in the price of your vacation", stating that while hotel prices go up and up...

...essentially saying that, come 2038, you will be able to thumb your nose at the travel industry and say "Bleeeeeep you, travel industry. We're not paying 2038 prices for a vacation this year. All this because we had the foresight and wisdom to invest tens of thousands of dollars in a timeshare way back in 2018."

 

[brianfox]

...essentially saying that, come 2038, you will be able to thumb your nose at the travel industry and say "Bleeeeeep you, travel industry. We're not paying 2038 prices for a vacation this year. All this because we had the foresight and wisdom to invest tens of thousands of dollars in a timeshare way back in 2018."

It's like you're trying to twist the sales lizard's words, trying to make him sound not fully honest...

 

[bobpark56]

You can pretty much count on your MFs going up every year. It doesn't matter where you bought. Inflation is inflation.

Those of us who own in the Virgin Grand section at Westin St John have seen our maintenance fees go down every year for the last 6 years.

 

[chapjim]

Rising tide (and maintenance fees) lifts all boats (and owners costs)

ew

 

[Jan M.]

.essentially saying that, come 2038, you will be able to thumb your nose at the travel industry and say "Bleeeeeep you, travel industry. We're not paying 2038 prices for a vacation this year. All this because we had the foresight and wisdom to invest tens of thousands of dollars in a timeshare way back in 2018."

Well whether you bought developer for tens of thousands of dollars or resale for far, far less, this really is true. We haven't paid for hotels, rented houses, etc. for over 15 years. Recently we got curious about the current prices and went online to see what they are. Needless to say we were shocked at the current prices of the places we used to stay before we bought the timeshare.