BELLEVUE, Wash., June 5, 2019 /PRNewswire/ -- The Coalition to Reform Timeshare (CRT), which was launched to advocate for the rights of more than 9 million timeshare owners in the U.S., has created a petition on Change.org demanding reform of the timeshare industry through a proposed Timeshare Bill of Rights.
Recent U.S.-based lawsuits allege that timeshare consumers have been subjected to fraud, deception and preying on the elderly, along with violations of local, state and federal regulations. Concurrently, state legislatures in Arizona, Florida and Nevada have introduced bills that would either increase or lessen the rights of timeshare owners.
"The timeshare industry is perceived by millions as fluent in high-pressure sales techniques, making customers feel locked in perpetuity with non-cancelable contracts and practices that make it difficult for owners to vacation where and when they want," said Brandon Reed, a founding member of the CRT. "We are long past due for a major change, and that's what the Coalition to Reform Timeshare and this Timeshare Bill of Rights are all about."
Signing this petition will signal support for establishing a Timeshare Bill of Rights that will promote fair and ethical business practices and aims to enhance the owner-developer relationship by promoting healthy, respectful communication and business practices.
The Timeshare Bill of Rights includes:
1) The right to a 24-hour uninterrupted period prior to signing a timeshare contract that allows for the review of all sales and contract information including, but not limited to, other governing documents, public offering statements and covenants that run with the land.
2) The right to receive complete disclosure of the true market value of the timeshare, prior to the timeshare being purchased.
3) The right to be free of any high-pressure sales techniques and verbal misrepresentations intended to circumvent the assessment period. For example, "Today Only" offers or the requirement of any form of advance payment to attend a timeshare presentation. Developers would be prohibited from collecting and withholding a credit card, driver's license or other item before or during the timeshare presentation.
4) The right to record the entire sales presentation or to require the developer to record the entire sales presentation, including the closing of the sale, and to retain the recording for a period of 24 months with no waiver.
5) The right to full transparency during the sales presentation without any waiver of verbal representations during the closing of the sale. This right also prevents owners from being required to attend "update meetings" or similar meetings if a sales presentation is conducted during this meeting.
6) The right to full disclosure of the resort owners' association financials, as well as disclosure of any and all HOA fees, including indirect resort costs imposed on owners which may increase maintenance fees and special assessments. This right also includes yearly owner roster notifications that disclose the number of weeks or points under developer control with the HOA, not excluding resale and rentals the HOA has control over.
7) The right to have the rescission period for a contract extended to one week after a person returns from their vacation to allow appropriate family and/or legal counsel review. The rescission date would be clearly noted in the contract based on input from the consumer on when they return home.
8) The right to be free of sales calls from the timeshare developer before or after the sale and the right to be free of attempts by the timeshare developer to have a consumer re-activate a previously rescinded sales contract.
9) The right to full disclosure of the entire cost of timeshare ownership, including available interest rates, before a consumer signs a contract. This would include projected increases in maintenance fees based on the average maintenance fee increase for the past five years for an individual property.
10) The right to have sales agents and timeshare companies subscribe to an industry code of ethics.
11) The right as a timeshare owner or vacation club member to have priority booking of reservations over the general public.
12) The right to unilaterally terminate an unencumbered, non-deeded timeshare interest with written notice to the developer upon making the current "use year" maintenance fee payment.
CRT is inviting timeshare owners to become members, share personal stories of problems with timeshare ownership, and show lawmakers and the timeshare industry that there is a real demand for change. To join the coalition or share your story, go to ReformTimeshare.org.
About Coalition to Reform Timeshare
The Coalition to Reform Timeshare is made up of individuals dedicated to reforming the timeshare industry. We believe that timeshare companies should be subject to a strict code of ethics and transparency in their sales techniques. We advocate for consumer rights to legally exit from timeshares and educate consumers on state, local and federal legislation that may positively or negatively affect timeshare owners. The coalition's goal is to change the industry by holding timeshare companies responsible and advocating for honesty and consumer fairness. For more information, please visit reformtimeshare.org or sign the petition to reform the timeshare industry at Change.org.
SOURCE Coalition to Reform Timeshare