I’ve never met a timeshare owner who understood the ins and outs of why their maintenance fees go up every year. Of course there is inflation, but most resorts go up at a much higher rate of inflation than the national average. Believe it or not, there is a consumer protection in place that is now in jeopardy of being destroyed.
The Florida Vacation Plan & Timesharing Act is under attack with HB 453. It is sponsored by State Rep. Eric Eisnaugle, Republican and Senator Kelli Stargel, Republican and is making its way through congress now. Maintenance fees are one of the biggest complaints for owners of timeshare, but in the past, you had an annual cap in place of 125%. That is a lot, but at least there was a cap. If this bill passes, certain things will be excluded from this cap such as property taxes and various common area expenses. One of the biggest reasons to buy a timeshare is the common area, the pools and game rooms and waterparks. By leaving that out of the cap, the resort can raise those fees as much as they would like and there is no definition of “common area expenses.” This really affects anyone who is on a points based system. Points programs are paid for by your Club Dues and now a resort can raise those as much as they want as well.