Timeshare – A Look at Timeshares from the 1960’s to Today

A timeshare is a type of vacation property ownership. For years, this was the ideal solution for individuals who wanted to own vacation property on a limited budget. One villa or condo could be owned by a few different owners who take turns vacationing on the property. There are timeshare rental properties in tourist hot spots all over the world.

The first timeshares were in Europe during the 60’s. One of the first companies involved in this industry was a French development business called the Societe des Grands Travaux de Marseille, or “Society of the Big Works of Marseilles”. The SuperDevoluv ski resort in the French Alps was the very first company to adopt the timeshare strategy.

In 1969, the US joined in the timeshare industry. The company Vacation International was developed on the island of Kauai. Interested individuals were offered weeks of ownership on a leasing basis. In the 1970s, more states starting catching on to the timeshare strategy. The state of Florida in particular established many timeshare ownership programs.

Timeshare properties started to become popular with the middle class in the 80’s, and by 1990, “timeshare” was a household name. Even major hotel chains such as Sheraton and Hilton began to offer timeshare opportunities. Working-class families found these opportunities to be very appealing, since they didn’t want to spend a lot of money on accommodation.

Boy have times changed.

Now, the timeshare industry is in a horrible state. This is primarily due to two reasons: a failing economy and a multitude of scams. Due to the failing economy, people no longer have enough money to pay the annual fees that come with timeshare ownership. When they do go on vacation, they use the internet to find discounts on regular hotel rooms.

Timeshare scams have gotten out of control, as it isn’t as regulated as well as it should be. Now, there are more people who want to sell their timeshare than those who want to buy it. Vacationers are pressured to attend meetings where they will be solicited to. Sellers will tell vacationers almost anything to make a sale. Many people end up agreeing to the timeshare just so that they can get out of the presentation!

In addition to selling scams, there are also reselling scams. Some companies are taking advantage of those who are trapped in schemes and promise to help them sell their timeshares IF they pay a huge upfront fee. These scammers make it seem as if they have access to many buyers who are lined up to buy properties. When the timeshare owners pay the upfront fees, they never hear from the reseller again.

The best way to get out of an unwanted timeshare is to consult an honest company that offers a variety of ex strategies. An honest company will not make any guarantees or promises it can’t fulfill. It will offer more solutions than just “reselling” the property.