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Hello,
By way of introduction I received "ownership" of my parent's timeshare after my mom died and my dad decided he'd never travel again. It's 1 week every 2 years from Pahio Kauai Beach Villas in Hawaii. Before my child was born my wife and I would bank the years and travel for long stays at the resort or trade with RCI for other long vacations. Back then, my Mom used to just ask me to cover the maintenance, which I remember being in the $400 - $600 range.
Two years ago I got the property moved into my name and made a back payment and a current payment for ~$1200 each. That should give me two years in the bank right now. I still need to call and confirm. Friday I received this year's maintenance bill and it's over $1400.
It is a two bedroom unit, so if I count it against the cost of 2 hotel rooms it's still about 1/2 the price of a hotel room on Kauai at a comparable place. But the growth in fees is staggering to me. It seems to go up about $100 per year if my memory and my math is correct.
Given that I'm likely to bank a year and then use it every 4th year, the pre-pay on this is getting to be mathematically absurd. I can easily see the maintenance fees getting up to $2000 in another 6 years or so.
Seeing as how I can buy an identical 2 bedroom ever other year timeshare for $1 on eBay I get the feeling others have come to the same conclusion. Since the property is essentially worthless, I want to know what my options are if I decide to stop paying the maintenance? I think the best I can expect is that the Wyndham/Pahio will have the property revert to them and then ignore me and stop asking for maintenance money. I'm not sure what the worst case is, but I'd like some advice.
MORE INFO:
My mom was an RCI member. Two years ago when the property transferred to me, I contacted RCI and had her account moved into my name. It only recently occurred to me that I've never received any postal main from them nor calls nor emails. I have a feeling that the xfer of that account never got properly processed. If I get an RCI account, whether it's my mom's old one or not, what options will I have? Will I be able to make suitable cash or points to offset the cost of the semi-annual payment for maintenance?
Any advice you can give would be greatly appreciated.
-GotMineFromMommy
By way of introduction I received "ownership" of my parent's timeshare after my mom died and my dad decided he'd never travel again. It's 1 week every 2 years from Pahio Kauai Beach Villas in Hawaii. Before my child was born my wife and I would bank the years and travel for long stays at the resort or trade with RCI for other long vacations. Back then, my Mom used to just ask me to cover the maintenance, which I remember being in the $400 - $600 range.
Two years ago I got the property moved into my name and made a back payment and a current payment for ~$1200 each. That should give me two years in the bank right now. I still need to call and confirm. Friday I received this year's maintenance bill and it's over $1400.
It is a two bedroom unit, so if I count it against the cost of 2 hotel rooms it's still about 1/2 the price of a hotel room on Kauai at a comparable place. But the growth in fees is staggering to me. It seems to go up about $100 per year if my memory and my math is correct.
Given that I'm likely to bank a year and then use it every 4th year, the pre-pay on this is getting to be mathematically absurd. I can easily see the maintenance fees getting up to $2000 in another 6 years or so.
Seeing as how I can buy an identical 2 bedroom ever other year timeshare for $1 on eBay I get the feeling others have come to the same conclusion. Since the property is essentially worthless, I want to know what my options are if I decide to stop paying the maintenance? I think the best I can expect is that the Wyndham/Pahio will have the property revert to them and then ignore me and stop asking for maintenance money. I'm not sure what the worst case is, but I'd like some advice.
MORE INFO:
My mom was an RCI member. Two years ago when the property transferred to me, I contacted RCI and had her account moved into my name. It only recently occurred to me that I've never received any postal main from them nor calls nor emails. I have a feeling that the xfer of that account never got properly processed. If I get an RCI account, whether it's my mom's old one or not, what options will I have? Will I be able to make suitable cash or points to offset the cost of the semi-annual payment for maintenance?
Any advice you can give would be greatly appreciated.
-GotMineFromMommy
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