What is a Timeshare Maintenace Fee?

 

Here is some helpful MAINTENANCE FEE INFORMATION pulled fresh from the February 2016 Time Sharing Today Newswire.

  • Maintenance fees are an owner’s responsibility for the upkeep of their home resort.
  • Review the annual budget received from your Home Owner’s Association (HOA) or Management Company. This is a breakdown of total fees billed, collected and what those fees were used for.
  • Maintenance fee bills should be reviewed so you understand each charge, just like you review a monthly credit card statement. The National Timeshare Owner’s Association (NTOA) also suggests comparing the current bill to last years and look for any new or missing line items.
  • Maintenance fees, like the cost of most things, rise over time. The average annual increase is about 6%. If the bill is substantially higher, look at the budget, ask some questions and let the NTOA know by contacting their HELP LINE at info@ntoassoc.com or 1-844-ASK-NTOA.
  • Ownership of deeded property may require the payment of real estate taxes. Some people may be eligible to deduct these taxes when filing income taxes. Check with your tax preparer.
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