When people hear the word “timeshare,” the expected knee-jerk reaction is to recoil and frantically scramble to the nearest exit. And there’s good reason for this.
The timeshare industry has provided, admittedly, a lot of fodder for bad press. In its earlier days, potential buyers were given the celebrity treatment and would wake up the next day with a hangover, clutching the deed to a property they couldn’t afford.
Timesharing was born in Europe in the mid 1960s and the first North American programs were launched in 1969. Over the next few decades, dubious sales tactics and pushy pitches gave the industry a notorious name. However, as sales tactics changed over time, timeshares also evolved with the changing needs of their owners. Rather than owning a fixed week at one location, concepts like floating time, split weeks, fractional ownerships, clubs and point systems literally introduced owners to a whole new world of travel options. This new flexibility attracted hotel industry heavy-hitters including Marriott, Disney, Hilton, Wyndham Worldwide and Ramada. And with this rebirth, a new term was born: Vacation ownership.
With this renaissance, the market also saw its share of fraudulent companies surface, advertising timeshare units for sale on the secondary market. The Better Business Bureau warned timeshare owners about resale scams, including companies that charged an advance fee for transferring timeshare ownership or claimed to have a buyer waiting to snap up a property at an unrealistic price. With timeshares being a $9 billion industry, every shark in the water wanted to take a bite.
If you are going to invest your hard earn`t money Buy a Vacation Home dont rent or fall for these scam company’s.
If you need to get out of your timeshare this is very hard to do. However ITRA Singapore can help you claim compensation