Special Assessment Fees are not a Relief for Timeshare Owners

A lot of timeshare owners today are desperate for any form of timeshare relief. Most of these owners are displeased with the accompanying financial liabilities associated with timeshare ownership. This is because of the sad fact that timeshare ownership also inevitably means the payment of perpetual maintenance fees for the whole duration of the timeshare contractual obligation. Worse, maintenance fees are not the only unending financial responsibilities in relation to timeshare ownership.

Timeshare companies also charge owners with sporadic bills for special assessment fees. Special assessment fees are a form of a contingent fund for timeshare companies for the refurbishment of the timeshare property itself. This type of fee is solicited from the owner in cases where the timeshare property is damaged beyond the effects of normal wear and tear though time.
Fortuitous events such as hurricanes, earthquakes, volcanic eruptions, or other such calamities may cause excessive damage to timeshare real estate properties. In the event of such calamities, timeshare companies may charge owners with special assessment fees for the restoration of the timeshare property itself. Hence, special assessment fees are sometimes very expensive. In fact, the onslaught of the hurricane season last year even caused Marriot Intl. to charge some of its timeshare patrons with up to $ 1,100 worth of special assessment fees, each.

Special assessment fees may also be charged by timeshare companies to owners whenever renovations of the timeshare property are underway. Hence, special assessment fees are also a perpetual financial liability for timeshare owners. It may be sporadic and intermittent, but owners have no guarantee about the costs of future special assessment fees to be billed to them: special assessment costs are wholly based on the discretion of the timeshare company as is evident on most timeshare contracts. Although only a minor nuisance compared to recurring maintenance fees, special assessment fees also adds to the disgruntlement of many timeshare owners prompting them to get rid of their timeshares.