Timeshare maintenance fees tripled! What would you do?
Right across the harbor from Port Charlotte you’ll find Fishermen’s Village Resort. The resort location has roots dating to the 1800’s where the fishing industry was booming long ago. Over the years the area was transformed into a beautiful and inviting location for vacations, fishing, and more. Yet, being filled with history and sitting in a charming location did not deter hurricane Irma from making all 47 timeshare units uninhabitable.
On September 10, 2017 Irma slammed into Port Charlotte creating extensive damage.
Normally, the insurance company would fund the repairs. In this case insurance claims were denied and the resort managers passed on the cost to the timeshare owners.
As a result, their annual timeshare maintenance fees tripled from an average $650 a year to $1,940. Needless to say, the timeshare owners are stunned by the increased cost and are asking themselves “How could they do this to us?” Investigations are underway and there should be more light shed on this bad situation soon.
But, what recourse do the timeshare owners have? The only communication about this from the resort that I know of is that they are allowing the owners to give their timeshare week back to the resort if they don’t pay the fee. I suppose if I was already trying to get rid of the timeshare I would take them up on their offer.
However, quite a few owners have been using their timeshare there for many years and don’t want to give away their timeshare OR pay triple the maintenance fees. Maybe the Fishermen’s Village is calling the extra cost a special assessment. I don’t know. But I do know that if it was me – I’d be angry about the situation and demanding both answers and action to fulfill the resort’s responsibility.
When you bought your timeshare you were probably not told about your liability for additional fees through special assessments. If that were fully disclosed at the timeshare sales table few people would opt in for that kind of headache. Potentially the HOA or resort developer could force you to pay for improvements, additions, repairs, or even lawsuits arising from injuries on the property.
It will be interesting to watch this story unfold over the next few months to see how Fishermen’s Village Resort handles it.
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