Quote:
Originally Posted by dewilson58
Depends.
Some have annual inflation limits.
Most, once sold out, are run/controlled by an owner committee.
Maint Fees go right back into the property..............there is no profit component.
Since units are sold "by the week".......it's easy for the site can have 5,000, 6,000, 8,000 owners..............so the committee could have a ton of whiners and headaches.
They operate like mini CDD's.
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The owner committee and inflation limits sound fine, if they are mandated in the original timeshare contract. But, if not, an original buyer is basically signing a blank check to the developer for future assessments and maintenance fee increases. I think that is why some owners actually need to pay a law firm to get rid of their timeshare.