RDO turns up the heat on Resale and Holiday Club Fraudsters
Brussels 29th March 2010 - As part on an ongoing campaign to help stamp out fraudulent practices targeted at timeshare owners, RDO (Resort Development Organisation), the trade body for timeshare and fractional ownership, is calling for consumers to come forward with their complaints. Of particular interest are complaints from people who have been invited to a presentation either to discuss ways in which to dispose of their timeshare or to join a class action scheme, but are then persuaded to sign up to membership of a holiday club of which they had no former knowledge. A deposit is frequently taken and...
Consumer alert – EquitySecure.co.uk
We have been made aware that timeshare owners are making complaints that they are receiving unsolicited phone calls from Equity Secure, a company that operates using a website but does not appear to have office in the UK. This firm purports to secure ‘equity release from your timeshare commitments' and owners are informed that the law is to change in January next year, which will result in a doubling of their maintenance fees. There is no truth whatsoever in this statement and owners should be on their guard about this claim, scare tactics to persuade people to pay a fee to sign...
Help & Advice
The Resort Development Organisation AISBL (RDO) can accept no responsibility for the information it has provided, although it has used its best endeavors to supply factually accurate advice and guidance. This information is not a substitute for taking professional legal advice to cover your particular situation. Please note that the RDO Consumer Services only deal with enquiries/complaints about RDO members in writing via email on info@rdo.org or by regular mail at:- Resort Development Organisation aisbl Consumer Service Department PO Box 2481 London, WC1N 3XX TATOC (The Timeshare Association of Timeshare Owners Committees), who represent the interests of timeshare owners and their elected committees, provide information and...
Applicability of new Timeshare Directive to Fractional Ownership
Guidance Note issued by FSOTA - August 2010 Introduction The new ‘Directive’ (2008/122/EC) hereinafter referred to as the 2nd Directive is planned for final implementation across the EU by 23 February 2011. Some countries have implemented the Directive already, notably France, others like the UK have recently issued draft proposals for new laws, and several are consulting interested parties. Once the Directive is implemented in individual Member States where a fractional developer is operating and/or marketing, FSOTA believes it is likely the developer will have to comply with the new law. This Paper aims to clarify how the new Timeshare Directive will be...
How Timeshare Works
Timeshare Resort Developers Timeshare developers have the principal responsibility for shaping the development of the timeshare scheme as they take the decisions which establish the characteristics of their resorts and, in most cases, the way in which they will be run. As well as arranging their own project financing, developers may also typically put in place consumer finance facilities. Once the resort is ready for sale, the developer puts in place a mechanism to protect timeshare owners' rights according to the legal framework of the country where the development is located. In the United Kingdom, for example, there are typically two principal parts...
What is Fractional Ownership
Fractional ownership enables people to own an interest in a luxury property (often in an exclusive holiday resort or glamorous city centre location) that they might otherwise be unable to afford. It is equally attractive to those who can afford to purchase property outright, but do not have the time to use or maintain it all year round. It is commonly sold in anything from quarter to one twelfth shares, with periods of the year being allocated on either a rotational basis or a mixture of fixed and floating periods within a season. As well as having all the benefits of...
Why Join the RDO?
November is a month for reflection, not only because it is the month before we get into the hectic round that is the run up to Christmas and the New Year, but because traditionally this is a month when we have few meetings, the membership invoices for 2011 go out and we get a chance to draw breath and reflect on events and developments after the Conference. Next month I am afraid you will have to put up with my reflections on the year and thoughts on 2011 (something to look forward to!) . So why this topic? For the very...
RDO to crack down further on illegal operators 2011, following success of last year’s anti-fraud cam
Consumer protection is top priorityIn 2010, 32 bogus companies operating on the fringes of the timeshare industry were forced to close down following the efforts of the Resort Development Organisation's enforcement team - and those efforts look set to continue full steam ahead this year....
2010, A Year to Forget?
I was at a meeting recently and we were discussing the year from a business perspective and the other person, talking about the performance of his business said "I am going to forget 2010 as a year, business was so poor". After the meeting I set to considering whether this applied to RDO, as we all know that economically across the Northern Hemisphere we have all been struggling out of the banking crisis, shoring up the euro and preparing ourselves for some years of austerity - no wonder that in Asia where things are considerably better, they refer to it...
Supporting Timeshare Owners – The Timeshare Partnership Trust
A new trust fund has been established by The Resort Development Association (RDO) to help timeshare owners protect their resorts from local or national legislation or disputes that may impact negatively on their resort. The new self-funded trust is called The Timeshare Partnership Trust and will provide grants to resorts to help safeguard the timeshare holiday experience for owners. The Timeshare Partnership Trust is run by a grants committee comprising one representative from the RDO Secretariat, one from TATOC (the Timeshare Association) and an RDO chairman. This committee will review applications from owners associations throughout Europe for grants to resolve issues, such...