Vacation Timeshare Rentals wants to keep readers up to date on the latest news in the timeshare industry which includes timeshare scams and how other companies try to implement these scams to separate timeshare owners from their money. Recently we found a report out of West Palm Beach by Shannon Cake of Contact 5, a local television station in the area. I would encourage you to read the entire article entitled, “Contact 5 Investigates: Premier Timeshare Solutions”. This story was written/filmed using an employee of the company as an inside informant, giving the reader a glimpse into the inner operations of a company trying to perform a timeshare scam.

Basically the company operates by contacting timeshare owners claiming they have found a buyer for their property, all the owner needs to do is pay an upfront fee and the sale will be completed over the next 30-45 days and the fee will be returned to the owner when the transaction is complete. To further cement the owner’s belief that the timeshare transaction will go through the sales man states the buyer has already deposited 20% of the total amount into an escrow account. According the informant Premier Timeshare purchases lists containing timeshare owner information which is used to contact the owner and make the company seem legit. The actual revenue figures these types of companies can generate are astonishing, according the informant “The company itself is doing a million dollars every week-and-a-half, anywhere from 40 to 50 thousand on the day shift they did 60 thousand on the night shift that I’ve seen.” This equates to literally hundreds of people being scammed every week, not to mention the informant told Contact 5 there never was a buyer interested in the property it was all a fabrication of the truth. Perhaps the most disturbing quote from the interview with the inside informant was regarding the managements’ view about the company practices:

“Buyers don’t exist, there is no buyer,” said the tipster. “We were told this during the pitch, we’re never going to sell this unit, we’re never going to list these units, these people are going to give you their money, the next person that calls they’re going to give them their money and they’re never going to get their money back. If they’re stupid enough to give it we’re going to take it, and you know why we’re going to sleep good at night is because we’re making a whole lot of money.”

“They told us what we’re doing, we’re never going to sell these timeshares, they will never sell,” added the tipster. “We don’t have buyers for these timeshares, but we say whatever we’ve got to say to get the credit card out of their pocket and if any of us have consciences we should stay home and not come back to work the next day.”

Regular readers of our blog have been informed of these types of scams for quite some time and know exactly what to look for and how keep themselves from being defrauded, however it appears this is still a major problem in the timeshare industry and does not show signs of slowing anytime soon. If you have been contacted by this company or another company with similar promises we recommend ceasing all communication with the company. If you have been defrauded or even contacted by a company like this we would encourage you to post the information here so no one else is victimized.

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