Transfer Smart News: BBB Warns of Recent Timeshare Scams

While many owners today try to get out of their timeshares, those current owners who still have their units are vulnerable to scams and fraudulent activities. Recently, there's a new warning from the Better Business Bureau about timeshares. Such fraud is targeting thousands of people across the country.

One of the victims is Patricia Valdez who had been trying to get rid of her timeshare. She received a promising phone call guaranteeing to sell her time share for a fee of $1,500. She paid the money and after that, she never heard from them. When she tried to call there, they would not answer the phone.

The Better Business Bureau says this is one of the top scams in the country. According to Michael Galvin of the BBB, millions of dollars are being taken from the general public on this scam. The BBB has been flooded with complaints from thousands of timeshare owners saying they get a phone call from a company with a hard to resist offer promising to sell their timeshare immediately.

Meanwhile, Lisa Ann Schreier, who calls herself the "Time Share Crusader" and writes consumer advocate books said, in these times where people are struggling to make their regular mortgage payments, lots of consumers are cutting back and, so, therefore, they find they're not using their timeshares or they can't afford their mortgage payments and/or annual fees.

On the other hand, the Better Business Bureau says if a company calls you and insists that you pay upfront, it should be a red flag. Also, if you think you've been taken by one of these companies, file a complaint with your states Attorney General. In a tough economy, struggling families look for ways to reduce their expenses and one popular option is to unload their vacation properties such as timeshares so they can recoup their investment and stop paying maintenance fees.

Transfer Smart News: First Bangladesh Resort Joins II Timeshare Exchange Network

Although many owners try to get out of their timeshares today, there are still several holidaymakers who choose this vacationing option. But for many timeshare owners, one of the great advantages of this is the timeshare exchange. Talking about timeshare exchange, there’s a new resort that should be watched out for Interval International members. Recently, a new Bangladesh timeshare resort called Sea Pearl Beach located on the Bay of Bengal joins II exchange network.

This luxurious brand new resort offers miles of golden beaches along the blue waters of the Bay of Bengal when it opens next autumn. Also, a mix of studios and, one and two-bedroom units with sea views were being built to eco-friendly standards and will offer visitors the best of eco-luxury, Indian-style.

Facilities include a clubhouse, cinema, restaurants offering an eclectic choice of cuisines, indoor and outdoor pools, tennis and a health club. Boat rentals, riding and more local restaurants are close by and the setting is spectacular as the resort is flanked by hillsides and overlooks the coastline and there are some special tourist attractions worth visiting as well.

Joe Hickman, the Interval International’s executive director for Asia Pacific believes the resort will prove a popular choice for members looking for something different. As he said, easily accessible by air and road, they believe Sea Pearl and its spectacular beachfront location will offer their members an appealing new holiday choice.

Moreover, there will be plenty of natural beauty to enjoy in this vacation destination and there are rich offerings for culture vultures, including ancient pagodas, Hindu temples and tribal villages. All of which complement the area’s scenic waterfalls, coral islands and impressive coastline.

Smart Ways to Profit from your Timeshare Unit

Timeshares are well-known as properties associated with a number of expenses. That’s why many owners try to get out of their timeshare contracts if they are having financial difficulties with it. However, there are some ways to make an income from such property and thus, it will help you pay some of those bills. Many owners today earn from their timeshare by having it rented out. This article presents a number of things to be considered to successfully rent out a timeshare.

First, be aware that timeshares are categorized as deeded or non-deeded. Deeded contracts allow you to own a particular unit with title and full rights. In other word, you have all the rights to whatever you want to do with the property. On the other hand, the non-deeded contracts will only allow you to purchase the right to use the property. Thus, before making a move, make sure you get to review your contract.

Location should be considered also. If you are fortunately situated in a popular location, you have the edge over the others. Also choosing properties that have a lot of usage as this gives your rental offers much flexibility and potential market is expanded.

You must be in a good timing when marketing your timeshare. Renting out your property during off season targets a few consumers only. To make a sale during off season, do plenty of advertising and good marketing ability. Moreover, make sure that your property is ready by the time you have a renter. It would be a great turn-off when you market something that is not ready for those interested renters. And it should have been taken good care of as a suitable place for a vacation.

Transfer Smart News: Timeshare Victims Get Refunds from Bluegreen Corp.

For the recent years, many complaints were reported regarding the timeshare industry. As a result, several owners want to get out of their timeshare contracts and a number of consumers avoid such vacation option. One of the companies that was reported to have been involved in misspelling practices is Bluegreen Corp. But this Florida-based timeshare company will refund Pennsylvanians who say they were tricked into buying expensive vacations they couldn't take as stated by the attorney general's office. Consumers have until June 24 to get the refund as part of the settlement that ends a lawsuit filed in 2008 against Bluegreen Corp. and its related businesses.

According to Pennsylvania Attorney General Tom Corbett, consumers complained they were unable to use their timeshare and that the company made false promises about when or where consumers could travel and situations where timeshare purchasers did not receive extra services or discounts that were promised during the sales presentation.

Other resorts such as Bluegreen Resorts, Bluegreen Vacations Unlimited Inc. and Great Vacations Destinations Inc., which are all of Boca Raton, Florida were also listed in the lawsuit. Bluegreen owns or manages more than 45 resorts across US including sites in New Orleans, Las Vegas, Orlando and Branson, Mo.

As Stephen Wilke, the company's corporate communications director stated, Bluegreen is very pleased that the matter has been settled. Many of the complaints filed at the office of Attorney General were from consumers who spent $20,000 to $40,000 on vacation packages. The state then expects more than $1 million to be refunded. The settlement also includes cash for those who were promised free gifts, including gas cards, hotel stays and airline tickets.

Transfer Smart News: AG Reaches Settlement Decision for Florida-Based Timeshare Company

Nowadays, although there are many owners who try to get out of their timeshares and avoid such vacationing option, there are still a number of consumers who have fallen into the trap of timeshare scams and mis-selling practices. One of the companies accused of such practices is Bluegreen Corporation. Three years ago, there were complaints about the company’s alleged use of deceptive contests, misleading sales presentations and improper contracts in the marketing and sale of timeshare vacation packages in Pennsylvania. But recently, the Attorney General’s Bureau of Consumer Protection has reached a settlement with this company.

As Attorney General Tom Corbett said, the agreement known as a Consent Decree, resolves a consumer protection lawsuit filed in October 2008 against BlueGreen Corporation, BlueGreen Resorts, BlueGreen Vacations Unlimited, Inc. and Great Vacations Destinations, Inc., which are all located in Boca Raton, Florida.

Corbett also added that as a major part of this settlement, BlueGreen has agreed to cancel contracts and pay refunds to consumers who have filed valid complaints about their timeshare purchases. The complaints include consumers who were unable to use their timeshare, false promises about when or where consumers could travel and situations where timeshare purchasers did not receive extra services or discounts that were promised during the sales presentation.

Corbett noted that the settlement applies to those complaints by Pennsylvania timeshare purchasers that have already been filed with the Pennsylvania Office of Attorney General. This is also along with any new complaints filed within the next 30 days.

For those owners who bought timeshares as a vacation option and were deceived about free gifts and prizes have until June 24, 2010 to contact the Attorney General’s Bureau of Consumer Protection. On the other hand, consumers who have already filed complaints with the Attorney General’s Office, either before or after the initial lawsuit was filed in October 2008, do not need to take any further action to have their claims considered as part of this settlement.

Transfer Smart News: Marriott Announces the Opening of Lakeshore Reserve

Recently, Marriott Vacation Club which is the premier timeshare brand of Marriott International, Inc., proudly announces the opening of Marriott's Lakeshore Reserve at Grande Lakes in Orlando, Fla. This is located on the pristine grounds of Grande Lakes Orlando, at 11248 Lakeshore Reserve Drive, the resort is the first-ever Marriott Vacation Club property to be co-located with a JW Marriott and The Ritz-Carlton. This shows that this industry is resilient despite the challenges like the number of owners trying to get out of their timeshares and the issue of being profitable amidst the current economy.

The first phase brings on 85 villas to the magnificent 500-acre Grande Lakes campus. Thus, evoking the timeless beauty of the Mediterranean with a blend of Italian and tropical influences. Located steps from the JW Marriott Orlando, Grande Lakes and The Ritz-Carlton Orlando, Grande Lakes, owners and guests is expected to enjoy a combination of impressive campus amenities, including The Ritz-Carlton Golf Club, The Ritz-Carlton Spa, boutique shopping and exceptional dining.

According to Lee Cunningham, executive vice president and chief operating officer for Marriott Vacation Club, North America and the Caribbean, they are thrilled to open the doors of this stunning new resort in one of Orlando's most prestigious settings. He added that they are constantly striving to meet and exceed their Owner's and guests' expectations believing that Marriott's Lakeshore Reserve will truly impress everyone.

Moreover, Lakeshore Reserve amenities include a stunning main pool with zero-entry, two dueling waterslides and two whirlpool spas; fitness center with full men's and women's locker rooms including sauna and steam rooms; The Marketplace convenience store; Blossoms Pool Bar & Grill offering lunch and dinner daily; tranquil fountains and themed courtyards; covered outdoor living area with views of the main resort pool; and brick-paved promenade from the resort to the adjacent hotels. With these, owners would surely enjoy their stay in this resort during their vacation.

Smart Things to Consider When Buying a Timeshare

Although many owners are trying to get out of their timeshare today, this vacationing option is still a popular option for many vacationers. But if you’re planning to buy a timeshare, just like any long-term investment, you need to weigh the pros and cons of doing so. Sometimes, the price is not the most important thing to think about. Take the time to not only see the property, but do a tour around the area, making mental notes of what you find.

Something else to consider when looking at timeshares for sale is the person or people who attempt to sell it to you. It is one thing to have a desperate seller as this can be a good thing. As you can get a very good price, most times thousands less than what you'd pay a developer. However, if you have that little voice in the back of your head telling you that something is just not right, then, stop. Just tell them that you'll consider things and give them a date you'll get back to them.

Another thing that you need to take into consideration when dealing with timeshares for sale is the type of timeshare they offer. With several different types like deeded, leased, points, and rotating, you need to see if it fits into your families’ life. There's no sense in opting for a rotating timeshare if the weeks you have available to you don't fit your schedule. If you're looking to rent it out, you'd want to have a deeded or leased timeshare, to take advantage of potential recurring income.

Ultimately when you are considering timeshares for sale, first you need sure that it fits your lifestyle, schedule and family. With this, you can have a clear picture of exactly what you're looking for. Your search will also be made that much easier and at the end of it all, you will have something you can enjoy during your vacation.

Smart Tips When Buying a Disney Timeshare Program

Although many owners today want to get out of their timeshare contracts, timesharing still remains a popular for several holidaymakers. But timeshare operators are coming up with new innovations to give variety and choices to consumers. One of these is the Disney Vacation Club which is said to be a timeshare program with a twist. Instead of the typical specific vacation week at a particular resort, here, you purchase points. Your points are then used for the accommodations for your vacation.

Several luxury resorts nowadays are available at the Disney theme parks where you can use your points. You can also use these points on a Disney cruise or they can be used at over 500 destinations around the world. There may be some restrictions along with your purchase, but DVC has worked to make things easy for its members.

After you've decided to purchase a DVC membership, you need to decide how many points to purchase. Currently, the smallest number of points that can be purchased is 160 and the maximum is 2,000. If you don't use all of your points in one year, they are transferred to the next or you can borrow points from the coming year for the vacation of a lifetime. Thus, you must consider carefully how you vacation and pick your points based on how you will use them.

However, if you decide that you didn't purchase enough points when you first signed up, it's easy to add on to your Disney Vacation Club membership. Just try to contact DVC and they'll help you add extra points to your membership. But if you're looking to add points to your membership without going directly through DVC, you can purchase points from other members. Try a number of sites online where you can purchase points or even memberships from others.

Smart Facts about Timeshare Weeks

When you plan to get out of your timeshare by putting it on sale or lease, it is important that you must be familiar with the designated timeshare weeks. We all know that timeshares are divided among different owners and a timeshare week chart is used so that all the owners will have an equal opportunity to use the vacation property.

The term timeshare week basically refers to a specified time wherein the owner is given the exclusive right to use the property for one whole week. For example, if your schedule implies that you can spend time on the property every 2nd week of March annually, then, that is your designated timeshare week.

This ensures that every owner will be given equal rights on the property. This is simply because one timeshare property can be owned by a certain number of people. In order to give them fair access to the property, the duration of stay is divided in weeks. However, the timeshare details and designation of use will vary greatly depending on the vacation property. Some may only be given one week yearly to access the property, while some can spend more than one week per year.

One of these common types of timeshare weeks is called the fixed week. This is technically an appointed week each year wherein the owner has the chance to use such vacation property. The good thing about this setup is the fact that you can rent out your designated week of stay to any vacationer or you can trade it to another owner if you decide not to use it during the allotted period time. Thus, be sure to check your designated timeshare week before deciding to rent or sell your share to ascertain that you will be able to come up with the right price value.

Smart Ways to Exchange Your RCI Timeshare to the Best Resorts in Los Cabos

Los Cabos is located at the tip of the longest peninsula in the world and considered as one of the best vacation destinations for timeshare owners. Despite the bad reputation of fractional ownership and there are many owners today who are trying to get out of their timeshares, this destination still attracts several holidaymakers every year. Meanwhile, some vacationers can avail this little paradise through timeshare exchange.

Before choosing any specific place in that area to exchange your timeshare, you must decide which place you'll most likely want to visit. Most of the towns offer excellent access to fine dining, fishing, shopping, night life and world class beaches but they are different as night and day. Next, is to determine the best the time of the year to go and not to go. You'll find much greater timeshare exchange availability and some of the best travel bargains in September.

One of the best ways to exchange timeshares is through RCI. As an RCI member, the earlier you bank your week the more trading power you have. If you have a fixed week, just make sure you bank it at least 7 months in advance or more to strengthen your exchange power. On the other hand, if you have a floating or points based timeshare, ask your resort to deposit the most powerful week available. Also, always deposit your next year's week this year if you know you will not be using it at your home resort.

When you decide to spend your vacation in Los Cabos through timeshare exchange, remember that how far in advance you should request depends on many different factors and will differ with each timeshare owner. If you have a very powerful exchanging timeshare and you're requesting shoulder or off season, it's possible you'll be confirmed when you request. Most of the times, there will already be a waiting list to get into the top resorts. So, as a rule of thumb you should request as far in advance as possible.

Smart Reasons Why You Should Stop Your Timeshare Ownership

For those people who opt for timesharing, they are looking to spend their vacation in luxurious places. One thing also that attracts them is that they are promised that they can save a great amount of money than going on an ordinary holiday club. However, there are also a number of disadvantages that potential owners should be cautious about timeshares. For those current owners these disadvantages could be the reason why they should get out of their timeshares.

First reason is that you might be loaded with your work so you don't have that much time anymore. Also, your children might already be tired of seeing the same place every time and thus, you can no longer maximize the use of your unit. Another one is that you might be sick of paying the increasing maintenance fees, special assessments, and taxes. These fees are not just like any other expenses. These are typically thousands of dollars which you have to pay every year.

Also, you may have gotten frustrated when the listing company you signed up with to sell your property. Considering it is very hard to resell or rent your timeshare, you would want to get rid of your unit as soon as possible. Moreover, you may feel that because you have a timeshare, you are restricted from experiencing other vacation getaways. If you want to enjoy vacation spots other than your vacation property, then your expenses would definitely double. You may also have discovered other options to go on vacation for less without purchasing timeshares and this could be the reason why you get rid of it.

The above points are some of the common reasons how timeshare ownership has turned into a nightmare. Thus, for a number of owners, they want to get rid of their timeshares as soon as possible. Especially with the current economy, most individuals are on a tight budget and should be smart in dealing with their expenses. Having a timeshare property is one of these things that should be dealt smartly.

Smartly Knowing the Real Cost of Timeshare Ownership

Timeshare ownership can be a way to achieve one’s dream vacation. Many individuals opt for this than any other ways despite the reported number of owners who want to get out of their timeshares. This also gives the owner the opportunity to take a vacation in a different resort every year. The timeshare owners don't really own the said property, but only of share of it. Moreover, they can enjoy a new accommodation for a specific period of time every year.

To understand the timeshare system, let’s have an example. For example, one real estate developer buys a resort of 200 rooms. The year is divided into 52 weeks and then the 200 rooms are multiplied by 52 weeks to get the potential number of customers using this facility during one week. The result is 10,400 potential customers. If 10,000 dollars are charged weekly per room, the developer will earn up to 104,000,000 dollars per year as an initial payment.

The common trap for timeshare owners is the fee charged in the name of the maintenance fund. At the beginning, these charges are kept low. Thus, this gives the owner a sense of contentment and relaxation. Unfortunately, this relaxation and contentment generally vanish after a while, as the maintenance charges go up.

It is said that timeshare ownership gives flexibility to the owner. This helps them to change the location and time period. However, this requires membership of an exchange company and this adds another financial burden which is the membership fee of that exchange company. In addition to this membership fee, an annual fee to maintain this membership is also required to be paid regardless of the fact that this facility has been used or not.

Moreover, timesharing as one of the most popular vacation options have many types of visible and hidden charges which increase its overall cost. This includes initial membership, purchase fee, annual maintenance charges, exchange club fee, additional exchange costs. The accumulation of all these costs makes the timeshare cost bigger than what the owner actually thought.

Transfer Smart News: New Laws in Malta Targets Abusive Timeshare Touts

For the recent years, the timeshare industry is well-known as a haven of scammers and mis-selling practices. Although most of the victims are owners who want to get out of their timeshares, potential owners are also vulnerable to these fraudulent activities. To battle these problems, new regulations have been passed to the local governments in some countries. For example, in Malta, there’s a new and tough legislation that aims to regulate the timeshare industry which was tabled in the House of Representatives by Parliamentary Secretary for Tourism and MEPA Mario Demarco. The “Timeshare and Timeshare-like Products Promotion – Licensing of OPC Representatives – Regulations of 2010” will see to it that timeshare touts will be fined up to a maximum of €2,300 for each infringement.

As revealed by sister paper Illum, each timeshare company will be required to deposit a guarantee to ensure that timeshare staff behave correctly with tourists, although the bond per timeshare representative has now gone down to €2,500 in the actual regulations from the €3,000. With the new regulation, the Malta Tourism Authority or MTA, which regulates the tourism sector in Malta, will be fining directly the companies found breaking the rules and taking the money out of the deposited bond money.

According to an international timeshare website, the legislation the tourist authorities needed to be able to protect the tourists had been recently passed. Moreover, the MTA was planning to outsource security patrols to police the timeshare touts. The decision to establish a pre-paid deposit by the MTA was described by the website as a clever move designed to enforce the legislation effectively. On the other hand, the timeshare reps were predominantly from the United Kingdom and targeting UK tourists who are on vacation and visit the island for the good weather in Malta as the UK was a main market for Malta.

Transfer Smart News: Mexico Imposes New Timeshare Rules

The timeshare industry has already been a haven of scams and misselling practices in the recent years. Many consumers are complaining about this especially those owners who are trying to get out of their timeshares as they become the usual victims of such fraudulent activities in this industry. With this, most countries establish new rules regarding timeshare offers. One of these is Mexico. With its Ministry of the Economy, it recently published new information on requirements and regulations for timeshare service providers, and failure to comply with the new rules will result in fines and affect timeshare purchase agreements.

This NOM or Official Mexican Norm which is entitled NOM-029-SCFI-2010, Commercial Practices, Information Requirements for the Rendering of Timeshare Service will perform a number of functions. It will broaden the definition of timeshare service "provider" to make timeshare regulations applicable to any person or entity that periodically offers, provides, and/or sells timeshare services. In the previous timeshare NOM, it applies only to timeshare service providers.

It also recognizes the privacy rights of timeshare consumers, prohibiting the use, sale, or assignment of their information for marketing purposes without their written consent. The new rule will also establish less onerous requirements for terminating a timeshare plan. Moreover, it lessens the burden of guarantees shouldered by providers regarding the performance of obligations under timeshare purchase agreements. The "guaranties" section and the "guaranty of alternate use" provisions of the previous NOM will not be included in the new NOM.

Today, timeshares ownership still remains as one of the most popular vacation option. To protect the consumers from being lured by certain timeshare providers, the new NOM will prohibit providers from using raffles, gifts, prizes, and lodging certificates to offer their services without specifying, in clear and unambiguous terms, the purpose of the corresponding offer. Furthermore, the new NOM establishes several requirements for timeshare sale and presale agreements.

Smart Benefits of Vacation Ownership and Timeshares to Senior Citizens

Seniors mostly want to enjoy high quality vacations for themselves or with their friends and loved ones. As they are on their golden years, that’s the perfect time for them shine and to share what they have with those dear to their hearts. When it comes to vacationing which most seniors would love to do, it could greatly benefit by having an ownership plan whether vacation ownership or a timeshare. Despite the negative image of these vacation options like the scams and the number of owners trying to get out of their timeshares, these still remain popular among holidaymakers.

With vacation ownership and timeshare, seniors are not sacrificing quality over costs. They get to stay in quality resorts instead of looking for bargain hotels that could cost much higher. They understand the idea of getting the ownership paid off and still having an asset for continual enjoyment that can become part of their estate or sold.

These options are also flexible and offer a variety of travel choices. As we get older, there are some situations that just crop up that require attention like doctor appointments, etc. Such programs do not require the buyer of the vacation to lock in to a specific week for their vacation every year, in a set sized condo, at only one specific resort. Moreover, some seniors are working part-time to keep them active and to supplement income or cover insurance needs. Thus, they need to have flexible vacation planning options.

Meanwhile, seniors are asking for programs which will allow them to be with others on vacation as compared to being by themselves. This includes being with their love ones or family members. Some of the vacation ownership companies have programs that able to arrange group travel. Furthermore, some seniors still look forward to visit someplace special while still alive. Hence, vacation ownership or timesharing can be a way for seniors to make their Golden Years glitter.