Top Alternatives to Using Your Timeshare

Timeshare companies want you to use your property. The more you visit, the harder it’ll be to claim that you want out of the contract. Here are some top alternatives to using your timeshare that may help you build a stronger exit case down the line.

Rent It Out

One thing you can do instead of using your timeshare is renting it out. As an owner, you can look for potential renters who may want to visit the property occasionally. However, there are some drawbacks to this solution. For starters, the timeshare rental pool is rather small. Most people who are interested in timeshares buy one on their own. So, you might have a hard time finding someone interested in that type of agreement. You must also create a binding contract with renters if you’re lucky enough to find an intrigued party. The last thing you want is for folks to skip out on payments, making you unexpectedly liable in the future.

Sell It

Another top alternative to using your timeshare is to sell it. Keep in mind, though, that timeshare companies will do everything in their power to stop this from happening. For starters, resorts don’t want you to break your contract and potentially leave a bad review. Also, timeshare companies like folks who make their payments on time. They would rather keep that type of owner than switch to someone who may default on their expenses. These anxieties on the part of the resort make it nearly impossible for owners to sell their timeshares. That’s why it’s better to work with a trusted exit company that can get you out of the contract instead. Preferred Cancellation Services will fight tirelessly to rid you of the burden that is a timeshare.

Donate It

Sometimes, people try to donate their timeshares to charity. You can do this by transferring the title or selling it and giving the proceeds to a charitable organization. You might think this is a reasonable alternative because the IRS allows you to claim the property as a tax write-off. However, resorts go out of their way to make this process challenging. Timeshares that are being donated rarely appraise for what they’re actually worth. Also, some companies make it so that you can only donate one year’s worth of proceeds to charity. After a year, you’ll be responsible for payments again.

While these alternatives to using your timeshare may seem appealing, the best option for people who want out is to use an exit company. It’d be helpful if you worked with a company that specializes in timeshare cancellation services. Preferred Cancellation Services will take your outcries seriously and help you navigate this complicated journey.