July 6, 2007, Newsletter Issue #54: Owner's responsibilities and liabilities
Tip of the Week
When you make the decision to purchase a timeshare, you must also commit to mainitaining the timeshare. There are a varying set of rules that come with timeshare ownership.
Owners responsiblities:
1) Stick to the resorts policies
2) Adhere to reserved dates, regardless of whether the owner uses it or rents it out for that specified period.
3) Keep the rental agency abreast of all situations and inform them of any changes that have risen. If need be - compensate the agency.
Owner's liabilities:
1) The owner understands the agent is not guaranteeing any amount of days of occupancies or particular income but will put their efforts into generating a competitive rate in all rental situations.
2) The owner will considered the agency blameless in damages or expense sustained either by the owners or other persons using the timeshare property.
3) If the owner seeks retribution in regards to any damages, it will solely be upon the owner and the agency will not be included.
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