Time Share Cancellation/Exits

Hi @Victower, welcome to the community.

I have moved your post to an existing thread as it may be of interest to followers of this thread.

This will be of interest to some community members. Do you have any further information about the process used to discharge your obligations under a time share contract?

Such information would be useful and may provide an understanding to others whether their own situation would also qualify.

Choice (@AndyKollmorgen) may also be interested in contacting you and Exit Timeshare based on the information you may have, especially if it may assist others getting out of their contracted timeshare obligations.

2 Likes

The business is called Exit Timeshare Now Pty Ltd and have two offices on the Gold Coast.

Australian Company Number: 626621592
Status: Registered
Incorporation Date: 5 June 2018 (over 2 years ago)
Company Type: Australian Proprietary Company, Limited By Shares
Jurisdiction: Australia
Registered Address: ROBINA 4226 Queensland Australia

I haven’t found any feedback on the business thus far.

4 Likes

I own timeshare at Beachcomber in Coolangatta. It is managed by Classic Holiday. I believe that there is a management committee who are supposed to act on behalf of the owners. Classic were engaged by the management committee to provide services. I believe there is a conflict of interest in that the management committee are Classic associates and act on behalf of Classic rather than the owners. Theoretically all the owners could vote at the AGM of the management committee and elect a different management committee and that committee could terminate Classic as service provider.
Well, that’s the theory. In practice it is almost impossible to do it. At the AGM last year the Secretary was holding 32 proxies representing 2370 shares. That’s over 70 shares per person and represents over a third of the total shares. If these are legitimate holdings, those people would be paying over $30,000 per year in maintenance levies, and for what? Classic have a stranglehold on timeshare and are milking it. The management fees for Beachcomber now exceed the wages. On the Balance Sheet there’s an item “Reservations, Bookkeeping and IT” for over $200,000. That’s more than $64 per booking (the titles are for even and odd years so only a maximum of 3110 come up each year). Clearly the system has been hijacked. Calculations based on management of hotels leave me to think the actual cost for a week per year is about half what is being charged. When people are prepared to walk away from owning a fraction of a piece of real estate worth millions of dollars, there’s clearly something wrong. Each apartment would be worth at least $250,000 valuing a week/year at $5,000. Classic have destroyed that value. Some sort of investigation is needed.

3 Likes

After posting yesterday, I looked at the minutes of the last Beachcomber AGM. There was a proposed change to the constitution put forward, requiring 75% of votes to pass. The vote was for 2378 against 2 abstain 2. When the Secretary holds a proxy for 2370 shares it is almost impossible for any real owner to exert any influence over what the board does.
It is bizarre that people are paying to give away valuable real estate. It would not surprise me to find that Exit Timeshare Now Pty Ltd are in fact another associate of Classic.
Classic are supposed to work for the benefit of timeshare owners, but the only message they send is timeshare is a burden, get rid of it. Each time we go to the resort we are invited to go to an “information session” that is a hard sell to unload your timeshare and be involved in a different scheme, Escapes. I looked at the Escapes contract and basically you pay to join, you pay to stay joined, and you don’t actually have any equity in anything. And there is no limiting clause on fees. They could be jacked up 200% next year and there’s nothing you can do but leave. And Classic then own your bit of real estate that you paid them to take. It is absolutely shonky.

3 Likes

We’re searching for timeshare owners to complete a survey to help inform some of our future work. If you or someone you know has had a timeshare in the past, please complete our survey.

4 Likes

An article regarding the disgraceful behaviour of a temeshare operator.

https://9now.nine.com.au/a-current-affair/timeshare-debt-dying-aussie-pensioner-chased-dead-exhusbands-9000-bill/a334c325-525c-4424-99df-df408a966d59

image

Not sure here, but to get a debt collection order, dont they have to get a court order first?

1 Like

It appears that they don’t. Along with court debt recovery processes, there are also a non-court debt recovery processes…see

3 Likes

Ahh negotiation first. But if you ignore that, they have to get a court order to sieze assets. Wonder if they would really go down that route?

anyone had anything to do with RECLAIM AUSTRALIA PTY LTD based in Qld?
Trying to establish if legit.

Could you give more information please as there are several organisations of that name.

1 Like

Welcome to the Community @gbsa

I merged your query into this existing topic as someone might have encountered them with their own timeshare problem.

I believe you intended to post about

https://reclaimtimeshare.com/

since Reclaim Australia is a ‘far right nationalist protest group’, nothing to do with time shares.

A word of caution, the address appears to be in a residential unit block and there is no business related information such as an ABN. They could be legit, but I would be wary.

2 Likes

Classy looking website. Since the claim is ‘no win, no fee’ on their ability to help with timeshare issues, why not try them out.
However, I would not give any money upfront, nor any account details that could be used.

1 Like

Their ABN is 20643174270

Nothing to do with the radical group (at least I hope!!)

1 Like

There is fee for their lawyer work and it’s upfront…

1 Like

Well then since they claim several times on their website that they are ‘no win, no fee’, but they want upfront fees, then you can work out what sort of company they are.
SHONKY.

1 Like

does anyone know how to sell timeshare?

1 Like

Welcome to the Community @nt1711

I merged your post into this existing topic that should be informative if you peruse it from its beginning.

1 Like

Charlatans in shopping centres?

Bought into timeshare way back in the 1980s and now in Classic. Huge Management Fees but what I don’t want is to ‘pass’ the burden onto my one and only son. Any suggestions? (such as wording in a will?)