Timeshare maintenance fees are an essential (and inevitable) part of vacation ownership. If you're curious what exactly your timeshare maintenance fees cover, we have the information you've been looking for. Below we break down the most FAQ's of timeshare maintenance fees.
What are timeshare maintenance fees?
Timeshare maintenance fees are required for owners to pay to maintain their resort. They go towards employee wages, upkeep, and upgrading or enhancing resort units and amenities. Anyone who owns a timeshare pays maintenance fees. These dues are divided among all owners of a timeshare and are used to keep the resort attractive, clean and provide everyone an amazing vacation experience every year.
Just as you would pay monthly or annually on upgrades and care for your car or house, timeshares also need to be maintained and renovated over the years. In the event of a natural disaster, some resorts save a portion of their owners maintenance fees in case of emergency.
What do maintenance fees cover?
Timeshare maintenance fees go to several projects at your resort—all that benefit you! A few of the most common things timeshare fees cover are: beautification of your resort, aka maintaining the grounds and covering the labor of those who do. Upgrades and maintenance to your unit: new appliances and upkeep of existing ones is essential to make sure your unit is ready to welcome when you arrive. In addition, your dues help keep security up to date. Not to mention, you're allowing the resort to bring new amenities to the resort and maintain the existing ones. This includes spas, pools, recreation centers and amusements.
Did you know maintenance fees are also used by resorts in cases of emergency? If your resort experiences structural damage, your maintenance fees that you've already paid go to fixing what's been affected. This is good news and means owners don't have to pay any extra out of pocket when inclement weather affects their resort.
When are my maintenance fees due?
The due date for maintenance fees varies by resort and developer. In most cases, owners pay their dues once a year. Sometimes dues may be required monthly, quarterly or biannually. According to ARDA, the current average timeshare fees annually are $1000.
Need help choosing your home resort? Check out: How to Choose Your Home Resort Like A Pro
By paying your maintenance fees, you can rest assured that your resort will be ready to welcome you when you arrive!
What happens if I stop paying my timeshare maintenance fees?
You should never stop paying your annual fees on your timeshare. If you do, you will default on your ownership and it will affect your credit. Timeshare ownership is like owning real estate in a way. If you were to stop paying on your mortgage for your house, or the HOA to upkeep the neighborhood, your credit will be affected (and that doesn't look good to the bank!)
Wondering how to get out of paying them? If you're ever in a position that seems like paying your annual dues isn't possible, talk to your resort first. They may have options that will help you, like an in-house rental program or exit solutions.