Very few travelers purchase a timeshare without dreaming of all the times that they’ll stay there. Life can get in the way though and leave you with a timeshare that you rarely or never visit. You might purchase a smaller unit as a newlywed that doesn’t have space for your kids, or you might buy one in an adult community that doesn’t let you bring your kids. Other circumstances like changes to your job can prevent you from traveling as much as you would like. There are various things that you can do with your timeshare though.
Turn it Over
Turning over your timeshare to the resort you bought it from is just one option. Some resorts actually make owners sign contracts that state the resort gets the chance to buy it back before anyone else can. If you still owe money on your timeshare, the resort may foreclose on the property and try to get as much money as possible from you. When you turn your timeshare over, the resort may take it back and charge you a fee or pay you a small amount to purchase the property.
Finding renters is another option, especially if you want to use the property again in the future but cannot make the trip one year. You can use the newspaper to find travelers, but there are also a number of websites that let you put up an ad to find renters. This gives you the chance to include photos you took on previous vacations and include details about the property. Make sure that you check with the resort ahead of time to find out whether you can rent your timeshare to anyone else and if they need to do anything special when they arrive.
Many people search the web for information on how to get rid of timeshare legally. The short answer is that you can usually sell that property. You may need to give the resort approval over your buyers, and you may find that you lose some money in the transaction. Some companies actually specialize in buying timeshare properties from owners who no longer need them. These companies will help you follow the terms of your contract when making that sale. To get rid of your timeshare, you can sell it, find renters or turn it back over to the resort.