New to this, should I take this Timeshare? [Whiski Jack]

ORx5 · Oct 11, 2014

Hi! I've come to consult the experts because I've never owned a timeshare. I have the opportunity to have one transferred to me from a relatives estate because it is costing the trust money, and they just want to get rid of it. The resort is at Whiski Jack in Whistler Canada, and there are 2 timeshares available one at about 700-800 a year fees, and one about 900 a year fees. I probably would not visit whistler often but am interested in exchanging through RCI. I have been told it recently became compatible with one of the major exchanges. So far I don't have the name of the timeshare company or the exchange because I'm waiting on the paperwork.
A major concern is how much I may get charged additionally in assessments. The resort has had some major reconstruction in the few years and ongoing. I was told a couple years ago they received an assessment for around 2K and it said there may be more coming. Is there usually a cap in the original contract on how much can be charged in assessments per year? I don't want to be stuck in something that could charge me thousands at anytime!
I probably couldn't afford the yearly fees on both of the weeks so I'd probably choose one. Given this information would you take this or pass on it?

probowlsurf · Oct 11, 2014

Assessments

The resorts usually spread the SA costs over time to lessen the burden. As far as a cap, I've never heard of one.

tschwa2 · Oct 11, 2014

The fees are a little high to make it a cost effective exchanger unless it locks off into two units.

theo · Oct 11, 2014

ORx5 said:
Hi! I've come to consult the experts because I've never owned a timeshare. I have the opportunity to have one transferred to me from a relatives estate because it is costing the trust money, and they just want to get rid of it. The resort is at Whiski Jack in Whistler Canada, and there are 2 timeshares available one at about 700-800 a year fees, and one about 900 a year fees. I probably would not visit whistler often but am interested in exchanging through RCI. I have been told it recently became compatible with one of the major exchanges. So far I don't have the name of the timeshare company or the exchange because I'm waiting on the paperwork.
A major concern is how much I may get charged additionally in assessments. The resort has had some major reconstruction in the few years and ongoing. I was told a couple years ago they received an assessment for around 2K and it said there may be more coming. Is there usually a cap in the original contract on how much can be charged in assessments per year? I don't want to be stuck in something that could charge me thousands at anytime!
I probably couldn't afford the yearly fees on both of the weeks so I'd probably choose one. Given this information would you take this or pass on it?

I would be very surprised to learn that a "cap" on maintenance fees and / or special assessments exists anywhere within governing documents at this (or at any other) timeshare facility. Never heard of such a thing (...although it sure sounds good).

My personal opinion is that, as an apparent neophyte to timeshare matters, you should probably pass on taking on this ownership unless you actually already know the facility and know with some certainty that you would actually want to visit it in the season(s) available to you under the specific and defined terms of the underlying ownership. Otherwise (IMnsHO) it's just too risky, too expensive and too steep a learning curve (IMnsHO) to "own now, then (...maybe) successfully learn the intricacies of the (ever-changing) exchange game later".

Acquisition and ownership is always easy --- selling later most likely won't be. Maintenance fees are forever or until you sell, die or choose to default.
All of these indisputable facts are real and legitimate and worthy of serious consideration before taking that plunge. Your call...

pacodemountainside · Oct 11, 2014

Timeshares, even if free, can be like a horse, boat, motorhome, etc.! :ponder:

Talent312 · Oct 11, 2014

pacodemountainside said:
Timeshares, even if free, can be like a... boat.

About which it has been said:
"A boat is a hole is the ocean into which you pour money," and
"The happiest days in a boat owner's life are the first and the last."

That said, we quite enjoy our time in a home away from home.
Even with the caveat that... "There is no free lunch."
.
.

Passepartout · Oct 11, 2014

Acquiring a timeshare even free or through inheritance, often is no bargain. Add to that $700-900 about $90/yr for RCI membership, plus $209 each to exchange it adds up to as much as $1200/yr WHETHER YOU USE IT OR NOT! And those costs/fees go on as long as you own it. And that isn't counting on the possibility of a Special Assessment. Some of those we've heard of can be as much as several thousand$.

I think that under these circumstances (possible SA, no desire to use the TS) I'd pass.

Take a look on eBay. You'll find literally thousands of TSs for a buck to a few hundreds. Those can be at places you'd like to use half the time and have a network you can exchange into at much lower cost without the spectre of an SA hanging over your head.

Good Luck, and Welcome to TUG.

Jim

HudsHut · Oct 11, 2014

Additional threads related to Whiski Jack:

http://www.tugbbs.com/forums/showthread.php?t=177868

http://www.tugbbs.com/forums/showthread.php?t=197224

http://www.tugbbs.com/forums/showthread.php?t=149419

***
I know nothing about Whiski Jack, but after a quick skim of the above, I see no reason for you to accept this timeshare.
You don't want to go to Whistler every year. You don't want high maintenance fees, or the risk of another special assessment.

***
When you do decide you want to learn about timeshare, I'd advise WorldMark for you because you're in the Pacific NW. There are many resorts within driving distance. WorldMark allows you flexibility as to:
account size,
portfolio of resorts, rather than being tied to only one resort
flexible vacation length (choose how long you want to stay, rather than being tied to a full week)
any unit size (choose the unit size you need for each stay)

check out the resorts here:
https://www.worldmarktheclub.com/resorts/

come ask questions here:
http://www.wmowners.com/forum/

ORx5 · Oct 11, 2014

Thanks Everyone!

Thank you all for your explanations and advice. In a multitude of counselors there is wisdom, and since the general consensus is that it would not be a good idea, I think I will accept that. Thanks for helping me avoid the hassle and expense. I have developed an interest in timeshares however and may look into one that would be more affordable.

LannyPC · Oct 11, 2014

ORx5 said:
I have developed an interest in timeshares however and may look into one that would be more affordable.

One feasible option that you might want to explore is to simply rent from owners. In addition to the reasons others have already mentioned, often you can find rentals for less than what the owner pays in MFs. You can choose where and when you want to go if you put in an ad in the TUG Marketplace or the Last Minute Rental section.

ORx5 · Oct 11, 2014

LannyPC said:
One feasible option that you might want to explore is to simply rent from owners. In addition to the reasons others have already mentioned, often you can find rentals for less than what the owner pays in MFs. You can choose where and when you want to go if you put in an ad in the TUG Marketplace or the Last Minute Rental section.

Good idea thanks!

jaygould · Oct 21, 2014

ORx5 said:
I probably would not visit whistler often but am interested in exchanging through RCI.

If you are interested in exchanging through RCI, one way to dip your toe in the timeshare waters would be to just pay an annual membership fee to RCI. Then just look at their "Extra Vacation" or "Last Call" sections of their websites where there are some amazingly cheap timeshares available. Some are dumps, but many are not. Join TUG and use the resort review section to differentiate the good ones from the dogs.
As an RCI member, you will also get their "Directory of Affiliated Resorts" which you could use as a source of phone numbers for resorts to call directly to arrange rentals through their management, since many owners don't exchange through RCI but let the local timeshare management rent out their unused weeks at a better price (for you) than an RCI trade where you have the additional $209 expense of an RCI trading fee.

bjones9942 · Oct 21, 2014

I'd always heard you had to be a timeshare owner before you could join RCI. No?

pacodemountainside · Oct 21, 2014

That is what their fine print says.

Can sell TS and not mention to them and probably can keep.

shawnspringer · Oct 22, 2014

ORx5 said:
Hi! I've come to consult the experts because I've never owned a timeshare. I have the opportunity to have one transferred to me from a relatives estate because it is costing the trust money, and they just want to get rid of it. The resort is at Whiski Jack in Whistler Canada, and there are 2 timeshares available one at about 700-800 a year fees, and one about 900 a year fees. I probably would not visit whistler often but am interested in exchanging through RCI. I have been told it recently became compatible with one of the major exchanges. So far I don't have the name of the timeshare company or the exchange because I'm waiting on the paperwork.
A major concern is how much I may get charged additionally in assessments. The resort has had some major reconstruction in the few years and ongoing. I was told a couple years ago they received an assessment for around 2K and it said there may be more coming. Is there usually a cap in the original contract on how much can be charged in assessments per year? I don't want to be stuck in something that could charge me thousands at anytime!
I probably couldn't afford the yearly fees on both of the weeks so I'd probably choose one. Given this information would you take this or pass on it?

Whistler is a great destination for exchangers, as the units have very high trading value. I have a unit in one of the WhiskiJack resorts and typically use it as an exchange. Most of the resorts have exchange agreements with RCI, Interval International, Raintree and DAE. Most years I get 2-3 weeks exchanged for my 1 Whistler week through Raintree. DAE is one of the newer exchange groups and only charges $149 for the exchange - after you have it confirmed.

As for special assessments, most of the Whistler properties were built around 25 years ago and so are now at a point where major maintenance projects start coming up. Most of the resorts are building that into their annual reserves planning, so that special assessments will not be needed. The best way to find out is to contact the President of the resort homeowners association and talk with them about upcoming projects and plans.

New to this, should I take this Timeshare? [Whiski Jack]

ORx5

probowlsurf

tschwa2

TUG Review Crew: Veteran

theo

TUG Review Crew: Veteran

pacodemountainside

Talent312

TUG Review Crew: Veteran

Passepartout

TUG Review Crew: Veteran

HudsHut

TUG Review Crew

ORx5

LannyPC

ORx5

jaygould

Tug Review Crew: Rookie

bjones9942

TUG Review Crew

pacodemountainside

shawnspringer