February 11, 2022

By Sheilah Brust, TARDA Board President

It is tax time again in America and we have already received this year’s first question about one of the most punitive and unfair taxes to be found in the IRS tax universe, as it is applied to those lucky enough to have their timeshare loan forgiven. The Internal Revenue Service 1099 form implies that the taxpayer received income and should therefore pay taxes on that income. A lender is required to report the amount of a cancelled debt when the forgiven debt is $600 or greater. 

August 5, 2021

Timeshare Consumer Association (TCA) was launched in the U.K. in 1997 by Sandy Grey, a timeshare owner himself who expressed the same concerns timeshare members, and some sales agents and managers express today. Sandy sadly passed away in 2013, but his legacy lives on through volunteers. Like North American, South American and Canadian timeshare buyers, European buyers question why there is so little help available for those who experienced unfair and deceptive marketing, sales and lending practices. The solution always comes round to consumer awareness and consumer education.

July 16, 2021

By Jessica Burke-Crosby, Virginia Beach Timeshare Rentals

Questions Jessica Burke-Crosby answered during our interview: 

1. Is the cost to rent more or less than what the owner pays in maintenance fees?

2. Can existing members rent out points or just deeds?

3. Do some timeshares prohibit renting or have restrictions? 

Renting through a licensed real estate broker is safe. Virginia Beach Timeshare Rentals holds all funds in an escrow account to protect both parties and there is always a rental agreement that clearly spells out rental terms. Jessica is a licensed real estate broker and has lived in the Virginia Beach area most of her life.