Scams take many forms in the timeshare industry. It is so prevalent that anyone can be victim of these fraudulent activities. Either you buy a timeshare, rent a timeshare, or an owner trying to get out of a timeshare by selling it, you are still vulnerable to these activities. In this article, we will just discuss the scams in timeshare rentals.
Timeshare rentals have a number of advantages but people who are looking to purchase one are often victims of scams. Thus, you should be aware of the methods used by scammers in order to try to trick you out of your hard earned money.
First, read all the documents before signing any. Usually, there is a sales presentation that you have to go through before finalizing the sale. Many timeshare sales presentations will trick you that a prize is included as an incentive for purchasing the timeshare. If it isn’t for purchasing the incentive they will try to charge you extra for delivery of the prize. Be very aware of what was written under the contract.
Another way that timeshare rental companies will try to scam you is through making the purchase the day they are given the sales presentation. If you are being asked to decide the day you are given the sales presentation, avoid it immediately. The people who usually do this are scammers and you most likely will not get the timeshare.
While there are many disadvantages of timeshare ownership that some owners even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property, there are also watch-outs and pitfalls that you should be cautious while on the process of owning a timeshare. Either you’re buying it or renting it.