Vacation Living: Understanding Timeshare Maintenance Fees

By: Chris Robertson
Submitted: 2007-01-17 16:42:23
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You're considering a timeshare for your next investment, but you've just learned about additional charges called "maintenance fees." This frightens you a bit because it seems to be just another add-on fee you'll have to pay. But actually, maintenance fees can be a good thing. Imagine buying a vacation home and being able to pay a set yearly fee to take care of all maintenance and other expenses! That would be a dream come true, but it's usually not possible with normal real estate. With timeshares it is possible, and owners are benefiting every single year.

What are Timeshare Maintenance Fees?

Maintenance fees are paid annually when you buy a timeshare. The fee may cover all or many of the following: timeshare maintenance, furnishings and carpet, property taxes, insurance, cable television, phone and utilities. Those who buy timeshares are financially responsible for the up-keep of the timeshare unit while the condo personnel are responsible for the physical, or hands-on, up-keep of the timeshare unit.

Benefits of Timeshare Maintenance Fees

Probably the greatest benefit of timeshare maintenance fees is you don't have to worry with the up-keep of your vacation property. The timeshare unit will be cleaned on schedule and receive repairs when needed - without your direct supervision. Obviously, if you buy a timeshare far away from your home, it would be very difficult to keep things running smoothly. For example, living in New York would make it very difficult to supervise Tahoe timeshares, Orlando timeshares or Las Vegas timeshares! The distance is too great.

Another benefit is you can cover many small expenses in just one yearly payment. Instead of having different bills for services like water, phone, cable, insurance, taxes and repairs, you can pay one yearly fee to take care of all these at once.

Don't be Afraid to Ask about Maintenance Fees

Before you buy a timeshare, be sure to ask about the maintenance fees. Find out what is covered and what is not covered beforehand. Also, be sure there are no other hidden costs. Read your contract carefully. The company that sells timeshares is responsible for including a thorough description of what your fees will include in your contract. Don't settle for anything less. Even in a timeshare resell situation where you are buying from another owner, be sure this information is disclosed in the contract. Those who rent timeshares also have a responsibility to let you know if there are other fees. So, always read the fine print!

Owning a timeshare is similar to owning any other vacation property. There will be additional costs any time you invest in a property, even if it's only for a space of one week out of the year. Think of maintenance fees as all your extra timeshare expenses in a bundle. It's a small price to pay for peace of mind and a worry-free vacation!

Article source: Expert Articles