New year, new EU timeshare directive
This month sees the much anticipated implementation of the new EU-wide timeshare directive, which aims to provide protection for consumers in respect of certain aspects of timeshare, long-term holiday products, resale and exchange. RDO welcomes the new regulations, particularly as they establish tighter conditions for holiday clubs, such as the division of payments into equal annual instalments or the buyer’s right to cancel each year, which may deter them. Holiday clubs and rogue resale companies are currently unregulated and the reason for most complaints and bad press the timeshare industry receives. Another key feature in the new directive is the introduction of...
A New Piece of Legislation for the Industry
I have no that doubt those who read these blogs are heartily sick of me going on about the reputation of the industry and the detriment caused to the image of shared ownership by the holiday clubs. So apologies in advance for returning to this topic! RDO recently received a 160 page document from the BIS (Department for Business Innovation and Skills) in Whitehall, asking for our views on the implementation of the 2nd Timeshare Directive into domestic UK legislation. Before I go any further, I thought it worth quoting this piece from the Foreword to the Consultative Paper by Edward...
Timeshare Owner Testimonials
“We can plan our holiday in confidence, knowing we will have first class accommodation, with brilliant facilities” - the Oven family “We were very pleased with the island as a whole and the resort in particular. The accommodation was excellent, the resort was beautiful and the staff so friendly and helpful.” - Annette and Graham Barber “Our family enjoys the fact that you have everything you need at your doorstep, and we feel good knowing our kids are safe within the resort. One really has the feeling of coming home, and it makes all the difference!” - Mr and Mrs Breeze...
RDO Statement on Timeshare Resales
RDO (Resort Development Organisation), the European trade body for timeshare, applauds Which? Holiday magazine for highlighting the issues facing owners trying to sell their timeshare. Whilst timeshare owners who use an RDO resale member are protected through its code of conduct, there are many others who have unwittingly dealt with unregulated companies, many fraudulent, and have lost considerable sums of money. The RDO code prohibits its resale members from taking a registration fee and they must provide a cooling off period to buyers. The number of timeshare owners who are targeted by rogue companies is of great concern to RDO and for...
Consumer Alert – Golden Sands Marketing
A man has been arrested following a police investigation into alleged resale fraud. This investigation followed a complaint to police about Golden Sands Marketing which was offering to organise timeshare resales for a £1,000 advance fee. It is reported that the cheques made out by members of the public were sent to a Banbury address, where they were then sent on to Spain. It should be noted that there is no connection between this company and RDO member Golden Sands, Malta. Members of the public should never respond to cold calls from individuals or companies who claim they have found a buyer...
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...
Selling Timeshare Safely
When it comes to selling your timeshare, unless you do your homework properly you can end up losing money to unscrupulous companies, so our advice is well worth following. And in the meantime, don’t be rushed into making any decisions you will later regret – a cold call could leave you significantly out of pocket! Your first step should be to check to see if your resort or developer offers a resale service or uses a recommended resale agent. If it does not, you have a number of options available, including selling your timeshare privately or using a resale company to sell...
Arrests of Suspected Fraudsters in Tenerife
On 1st December 1st 2010, the Spanish National Police arrested 25 people who were behind 10 fraudulent timeshare resale companies operating from Tenerife. Most of the arrested people are Germans and their victims, timeshare owners, share the same nationality. It is reported that when contacting timeshare owners, the gang claimed to work in conjunction with notaries and even adopted the names of existing public notaries – but with subtle changes - using this as a hook to persuade their victims to part with money. The Spanish National Police conducted searches at six different locations, finding over 100,000 personal details of European timeshare...
RDO Enforcement in Action
On 5th January 2011, the Advertising Standards Authority in London issued what they call an "Assessment" but which we lawyers would call a" judgment", in that its publication has consequences with which the parties must comply. Let us wind back 7 months...
The world in turmoil
These last few weeks we have seen floods and fires in Australia, earthquake in New Zealand, the old regimes in Tunisia and Egypt falling to popular uprisings, problems in other North African States, the Gulf States and Saudia Arabia and of course what looks set to be a very nasty Civil War in Libya. On top of this we have just had the news of the severe earthquake and tsunami in Japan. It was pointed out to me recently by Dimitris Manikis of RCI, that European timeshare owners were the fortunate ones, compared to package holiday-makers or second home owners in...