It happens every so often to timeshare owners˳ You’re taking a stroll to your friendly mail box with the sun beaming down wonderfully on your home; birds are out singing a happy tune˳ You open your mail box, reach in, and pull out a timeshare bill˳ “Same as every year,” you think˳ “Maybe a 2% increase˳ But nothing I can’t handle˳” Then you notice a sizably larger tab˳ “What?” you fume˳ “How can they charge me that much a year for my timeshare?” Then you read on, and your heart fills with the dread of an oncoming car crash, and you see it: a special assessment fee˳
The truth of the matter is that the timeshare industry is suffering, just like everyone else˳ Their extreme profits have lost a shine or two, and now they have to scrap barrels instead of throwing whole meals away˳ Unfortunately, you are that barrel they’re going to be scraping˳
But let’s get to the question: is there anything you can do about these special assessments? The truth is, there is very little you can do besides pay the tab˳ Many resorts offer payment plans, and for those of you unwilling or unable to pay off the fee upfront, these plans are a good option˳ You will, of course, be paying interest˳ What matters with special assessments is whether or not they are needed˳ In some cases, the fee may be a simple $200 for an extra couch or fixture˳ In other cases, there are going to be Hurricane Assessments, which pay for hurricane damage and can run over a thousand dollars˳
Not paying your special assessment will result in late fees and potentially a collections claim against you˳ For those of you who have already paid special assessments before and have just been hit again, a timeshare sale might be in your best interest unless you find such value in your timeshare that these extra fees and added expenses are worth the cost˳
If your special assessment fees are no longer within your budget, you may want to start considering your timeshare relief options˳
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