Nearly 10 million people in the US own part of timeshare companies. That works out to roughly 3% of the country.
The problem is that timeshares are a tricky business. Many of them are very useful if you know how to use them. However, they’re not a great way to make money.
Worse yet is that some of them aren’t even legitimate. Stories abound of fake timeshare companies scamming customers out of money.
Timeshares are a lucrative target because those who buy timeshares tend to be wealthier than average. A skilled scammer can net thousands out of a single customer if they know what they’re doing.
Some companies are more notorious for this than others. We’ll talk about some of the worst timeshare companies in this article.
1. Timeshares By Owner
Timeshares By Owner is among the worst timeshare companies out there. Reviewers often point out that they use unscrupulous tactics to trick investors out of their money.
One thing they’re known for doing is promising clients that they will frequently have the opportunity to rent the property out, but few offers ever arrive, if any.
When a person tries to get out of their contract and walk away, the company usually makes it difficult for them and encourages them to stay, often with more empty promises.
Timeshares By Owner isn’t an accredited company, meaning that they haven’t been certified as legitimate by any business authority. The Better Business Bureau says that the company misrepresents when doing business.
2. VRBO
VRBO has reportedly done many of the same things Timeshares By Owner has. They have a habit of making promises they don’t keep.
Rude and unprofessional staff is another complaint that often gets leveled at VRBO. Many claim they tend to overbook destinations and not tell customers until it’s too late to change plans.
VRBO is also not accredited.
3. Wyndham Vacation Resorts
Yet another unaccredited company, Wyndham Vacation Resorts, has been accused multiple times over of mistreating customers and showing other unprofessional behavior.
They often promise returns on investments that never come, and their fees tend to be very high. Like many other scam companies, they will often make it difficult for investors to drop out.
When dealing with some of the worst timeshare companies out there, it may be tough to get out by yourself. The good news is that there are attorneys who specialize in timeshare-related law.
Like all professionals, though, it’s always best to ask questions with a timeshare attorney. These questions can separate a good lawyer from a bad one, and you can find a few by following the link.
The Worst Timeshare Companies and Why You Should Avoid Them
You hear a lot of stories about timeshares being a scam. Not all of them are, but the worst timeshare companies have built a bad reputation for everyone.
We’ve talked about just a few timeshare scammers in this article, but these aren’t the only ones. It’s best to keep an eye out if you ever plan on getting in on a timeshare.
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