njhowie
Thinks s/he gets paid by the post
- Joined
- Mar 11, 2012
- Messages
- 3,931
I'm a TS newb. Am I reading some of these numbers correctly? The TS is bought up front, then maintenance fee's are charged there on?
Yes.
So for example, pay $20k for the timeshare and it costs $800 a week for maintenance every week you use it for perpetuity? For the TS owner and the other owners of the unit, that's $41,600 a year in maintenance fee's PER UNIT?!
If the maintenance fee's are ~$950 a week, and it's a 20 condo unit, then that's close to $1m in maintenance fee's for the complex.
What in the world are in these maintenance fee's?
The amount will vary depending on the timeshare. You pay your fees annually (or monthly if they offer that as a payment option). The fees cover operating budget (housekeeping, maintenance, landscaping, etc.) as well as reserves (renovations as the property ages), and then property taxes are also included.