How to Get Out of a Timeshare

Ah, timeshares. Certainly, your timeshare sounded like a good idea when you first bought into it. After all, it’s in a beautiful location and you love the idea of visiting there! Now, however, you find that it’s not worth it and you’re stuck with it. Today we’re looking at how to get out of a timeshare!

How to Get Out of a Timeshare

Sell It

The first, and most obvious, way to ditch a time share is to just sell it. It can be difficult, however, since they’re inherently a bad investment. Many people find that it’s nearly impossible to even give a timeshare away, as, after all, it has associated, life-long maintenance fees. Those fees will continue whether or not you use the allotted time of the time share. In order to even get rid of the thing, you often have to pay companies a fee to absorb the property for you.

Similarly, real estate agents will sometimes take on the task of selling a time share. However, due to the nature of the transaction, the seller often ends up paying a lot more in commission fees and such to even get rid of the place.

Donate It

Some charities will allow you to donate a time share as a charitable gift. However, those charities then take on the associated maintenance costs, so this is uncommon. However, in the event that you do find a charity willing to take the place off of your hands, it won’t cost you anything. This can be a great boon to the seller, as it’s one of the few ways to get rid of it without spending any money.

Rent It

This is unlikely to get you to break even, but it might recoup some of the costs. The problem you run into is that resorts will charge less for rentals than your timeshare’s monthly costs. In order to entice people to take up your rental with the time share, you have to rent it for pretty cheap. This distances you further from breaking even, sadly. However, you will at least make a bit of money back to cover the costs while you look for a more long-term solution to your problem.