April 1, 2011 — During this year’s annual ARDA love-fest in Orlando, Fl there were many open discussions and the usual ‘Kumbayah’ fluff about those evil doers (and legit) resale and rental companies as well as the growing number of notorious (as well as legit) ‘post-card’ companies.
Even the Wall Street journal ran an article on the subject during the convention, addressing the need for the industry to come together (LMAO) and address the secondary market needs of existing timeshare owners.
Well, IMHO, and although I have no (real) proof, I think it is all bunk (BS). I believe that with the support of ARDA, Developers, developer-controlled HOAs, etc. actually need and want these secondary companies (legit or otherwise) to flourish and clean up the mess and devastation developers have left (and continue to leave) behind.
Maybe I’m wrong, but if so why then does ARDA allow these companies (the good ones and ones not so good), for reasons other than to collect desperately needed fees/dues, etc. from them, to become ARDA members in the first place?
I’ll leave the reasons for readers to decide. But of the hundreds of thousands of timeshare owners over the past couple of decades who have had legitimate reasons to no longer be an owner (lifestyle changes, age, deaths in the family, incomes lost or reduced, etc.) the developers have basically told their clients (owners’) to stick it where the sun doesn’t shine.
And here is the appalling aspect of that approach to an industry problem that goes back 30 + years.
They (developers, HOAs, ‘Clubs’) have told their clients who (e.g.) bought a two-week timeshare in 1980 for $12,000.00 (Cash or financed at high interest rates paid to the developer) and who faithfully paid their annual maintenance fess on time each year for 20-30 years:
Sorry Charlie, no-can-help and oh by the way if you don’t continue to pay-up Amigo, we’ll trash your credit, take back the inventory anyway (if they want to) and you, Mr. and Mrs. Client-Faithful, who paid us $80,000.00 (+ or -) over the years will not even be able to buy an old black and white TV set with rabbit ears on ‘terms’ over the next 10 years!
And that, in a nutshell, is ‘some’ of the thinking of those in, as they say, ‘the-biz’!
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