Timeshares are tied to maintenance fees in the eyes of many consumers. Such fees often increase every year which usually led to the many owners trying to get out of their timeshares. However, there is more to timeshares than the hefty annual maintenance fees. There are also special assessment fees that the owners have to deal with.
When you buy a timeshare, most timeshare companies assert their rights on the contract to charge owners with special assessment fees. Such fees are the privilege of these companies in times where the property itself is damaged beyond the effects of the normal deterioration. Events like the natural calamities may cause significant damage on timeshare properties which allow the companies to charge the owners with fees for special assessment.
Most timeshare units today are condominium type structures with multiple units in it. This can solicit millions of dollars worth of special assessment fees each year to the financial detriment of timeshare owners. Thus, many owners are displeased with such additional monetary responsibilities.
As many owners are troubled with the special assessment fees, a lot of them decided to getting rid of their timeshares. Selling may be the most popular way of getting rid of such property but there also a number of owners who simply get rid of it by hiring a timeshare transfer company such as the Transfer Smart. Although there might be some costs involved, the result is more rewarding as it will cut off their financial responsibilities with their timeshares.