When the topic of timeshare scams comes up, it seems that everyone has their very own opinions and prejudices. Many individuals are upbeat advocates of vacation clubs while other individuals hold the belief that all timeshares are scams. In our experience, timeshare is not the scam that people think it is; however, there are dangers and scams involved, such as timeshare rental scams, which is the topic of this blog post.
Timeshare Scams – Beware Rental Scams
The main goal of timeshare rental scams is to defraud innocent, hardworking people from their hard earned money! For example, you have found an amazing timeshare week at one of the top resorts, and it is being advertised solely and privately, so you decide to book this for your family. You pay the price that is being asked, then the day arrives that you and your family head out to enjoy your vacation to only arrive at the resort where you are given bad news. The resort informs you that the timeshare member that you have rented the vacation week from is delinquent with their maintenance fees or they have not booked your week in advance. Whatever the reason you are given, the bottom line is you and your family can’t not enjoy your vacation that you paid for with the timeshare week. This is a timeshare rental scam that you should beware of, and they are also involved in credit card scams and identity theft, serious crimes.
Protection from Timeshare Rental Scams
You can follow just a few steps to protect yourself from timeshare rental scams along with any other types of rental fraud. The timeshare rental scam tips are provided below:
- Only visit trustworthy websites for timeshare rentals. This will ensure that your credit card information is safe and you can also request a guarantee and rental agreement when you pay.
- Low and cheap timeshare rental rates are a sign that it is a scam
- Researching a timeshare resort to make sure that it exists and researching timeshare reviews is recommended.
- Never wire money or make cash deposits to the renter. This is a scam.
- Personal information such as your social security number, banking passwords, credit card numbers, and any personal passwords and codes should never be given to anyone.
- The timeshare company that you have booked your vacation week should be contacted to make sure that the renter has authorized you as a guest. Any additional fees upon arriving should be asked along with any requirements that they may have should be discussed as well.
Timeshare rental scams can also affect timeshare owners and buyers
Not only do the timeshare rental scams affect the timeshare owners, but also the buyers who are just wanting to rent a timeshare week. There are timeshare rental agencies that are out there who claim they can rent out your vacation week, but they want to charge an upfront fee to do this for the timeshare owners and then they never rent out the vacation week. They take your money and run. If you are wanting to rent out your timeshare, then just search for an agency who is reputable and only works on commission, then you don’t have to pay any upfront fees that are expensive.