Today, the timeshare industry is met with two distinct lines of thought - some believe the industry is booming, while others consider parts to be busting.
How can these both occur? Largely because both are essentially true, and Timeshare Nation possess a solution to the problems plaguing timeshare resorts and HOAs (Homeowner Associations).
Over nine million people own timeshares, a number expected to continue growing, according to The American Resort Development Association (ARDA), the Washington D.C. based trade association. This helps explain the ‘booming’ line of thought.
In effect, timeshare resorts have transformed to accommodate the travel needs of owners, and exchange companies led by Interval International and RCI continue to serve millions.
Someday, though, these nine million timeshares owners will no longer be able to use timeshares because of age, health or financial reasons.
Currently, owners are faced with limited options to find someone to take over ownership, and resorts and HOAs running the timeshare resorts offer limited assistance.
Transfer companies, sometimes referred to as relief companies, have stepped in to relieve this problem, but not every relief company is reliable or honest.
While timeshare owners fork over thousands of dollars to relief companies to dispose their timeshare, many of these relief companies have found loopholes in the law and are now being sued for their practices.
Without going into much detail, there are thousands of stories about the dishonorable business practices used by some relief companies.
However, the limited assistance provided by the timeshare resort or HOA forces owners to use relief companies, ultimately creating a non-performing maintenance fee payer for the resort. This is because resorts or HOAs don’t have the capacity to find someone to take over someone’s timeshare ownership.
The lack of a proper timeshare resort or HOA owner support system contributes and explains the ‘busting’ line of thought.
According to Daily Breeze, many timeshare resorts and HOAs are dealing with 50 percent maintenance fee delinquency rates. This is largely the fault of the HOA for turning away owners in the first place.
If the timeshare resort or HOA could support their owner to find a new person to take over the timeshare affordably, delinquency rates would be greatly affected.
Since the resort or HOA would have more maintenance fee payers, it is likely fees would actually decrease instead of the recent rise of 2.5 times the inflation rate from 2009 to 2014.
That’s right - with more people becoming unable to pay their annual maintenance fees, the resort companies are upping the prices for everyone. The party carrying much of the financial burden are the timeshare owners capable of paying annual maintenance fees.
This is where Timeshare Nation comes into play.
Our expertise lies in the fickle timeshare resale market. We use a methodical and analytically driven method that we’ve termed ‘Timeshare IQ’ to find new owners for timeshares.
We target potential owners based on the data we’ve collected, tracked and established; data such as socio demographics, likes and interests and resort attributes.
Because of Timeshare IQ, we have the ability to match a potential owner with a specific resort. Without revealing too much of our process, we have the ability to match certain customer behaviors with resort and destination attributes. Therefore, we are able to find the perfect match between owner and resort.
We strongly believe the Timeshare IQ methodology can greatly impact the industry by allowing, for the first time, timeshare resorts and HOAs to offer their owners a safe, simple and affordable exit of their timeshare.
We believe certain criteria should be established by the resort or HOA, and once an owner fits that criteria (age, health, death, financial, etc.) the resort or HOA can allow Timeshare Nation to find someone to take over the ownership.
By allowing owners to pass along their timeshare ownership in a transparent and beneficial method to the resort, timeshare resorts or HOAs will be able to offer a sustainable vacation product to their owner-base.