Even after paying full of cash for your timeshare, you were still responsible for paying huge amount of money for its upkeep in the form of yearly maintenance fees. It usually increases by about 4 per cent every year. No matter you visit the place once in a year or even not a single time in two years, you need to pay this amount.
Maintenance fees are actually a huge revenue source for timeshare developers. This is the biggest income source for them. You need to pay a certain amount every month and there should be an average timeshare maintenance fees that you need to calculate and to pay as the yearly maintenance fees of your timeshare.
Fact about the fees
Naturally, one may think that selling his timeshare would be the easiest way to stop paying maintenance fees. But it is not as simple as it looks given the volatile state of the resale market. More than half of all timeshare owners are trying to get rid of their timeshares because of several reasons and even for increasing maintenance fees, making it a very competitive market.
Individual timeshare sellers have to compete with the resort developers themselves who own a good amount of the discount travel websites offering timeshare rentals at rates far below what the are paying. When you are dealing with your timeshare company, you need to know about the rates that you will pay monthly or annually.
First, you need to know what will include in your timeshare charge. There are several costs that they need to pay.
It includes your
- down payment
- The interest of payments
- Special assessments
- Property taxes
- Maintenance fees
- Fees of the caretakers etc
Timeshare resorts are luxurious, beautiful but they need to be maintained so that you will be able to visit the place years after years. These fees are important to maintain the beauty of the resort. It is for upkeep, wages and renovation of your timeshare. This is so important to have the resort in tip-top condition. Nobody wants to have a resort with outdated amenities, services and which is very dirty.
When you are calculating the average timeshare maintenance fees, you need to cover a lot of things:
Unit up gradation
Every year you need to pay a certain amount for caring for your vacation home. The maintenance costs will cover the expenses of upgrading your unit, like buying new appliances, new beds, conditioning servicing, and lighting fixtures and so on.
The cost also covers maintaining charges of your ground; beautifying your lawn etc. you need to pay for keeping the place secure and safe too. You can keep costs for new curtains or furnishings too.
You need pay also for the onsite amenities which are important to taking care during a specific period of a year. The cost may include the supplies and labor requires maintaining the spas, pools, parks and gyms etc.
These costs are a must for the owners that they need to pay. To calculate average timeshare maintenance fees, you need to consider these prices first.