Timeshares may be older than you think. Some believe that timeshares are only about 50 years old, according to Forbes. Supposedly, they came about because, at the time, developers had overestimated how many condo units needed to be developed in the US, leaving an excess of units throughout the country. However, timeshares have been tracked back even further. Let’s take a look at the history of the timeshare.
The True Beginning
According to Hotel-Online.com, the origin of the timeshare dates back to a decade earlier in Switzerland, when Dr. Guido Renggli bought resorts and started selling them on the basis that renters should stop paying rent, and start paying to own the resort.
According to Redweek, timeshares saw incredible expansion in the 1980s. Many timeshare companies emerged, and conferences were held. A large portion of the timeshares currently held in the US date back to an original agreement in the 1980s.
Timeshares are extremely marketable and seem like a good deal, but the truth is that many timeshare owners don’t get their money’s worth, and end up trying desperately to get out of their timeshare, which is no small task. Timeshares are frequently inherited, and end up being a curse, rather than a gift. There are countless timeshare companies and timeshare owners in the US. Consider that more than 19 million households own a timeshare, according to Timeshare Consumer Guide.
Wanting out of a timeshare is such a common situation that many timeshare exit companies have sprouted up in more recent years. Not all are created equal. The experience and quality of the timeshare exit support are crucial in helping people smoothly exit their legal arrangements. It’s vital to work with a team and attorneys that have had success, as timeshare companies are notoriously difficult to work with.
A first step that should be checked off but is often unsuccessful is to call the timeshare developer and ask what can be done. Often, the response won’t be helpful. Next, the timeshare owner should consider whether there is someone who might accept the timeshare as a gift. This is a legal way to offload the timeshare without too much trouble. After taking this step, the timeshare owner should do some research and contact someone who can help.
The hurdles placed by the timeshare developer should not discourage someone looking to get out. With proper timeshare exit support, the seemingly impossible can be accomplished. Contact us today to receive assistance with exiting your timeshare and learning more about your options.