| Subject: Re: How do I stand if I refuse to pay anymore maintenance? |
Author:
stella
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Date Posted: 06:42:20 04/22/04 Thu
In reply to:
Sue
's message, "Re: How do I stand if I refuse to pay anymore maintenance?" on 03:56:03 04/05/04 Mon
>Sue, don't know what you are trying to say by "Con, why don't you put your message here so we can all see" but ... to answer the original question, I bought a studio with my husband in '86. At that time the maintenance charges were reasonable and we were in good health, however, ten years later my husband died, and the maintenance charges have risen (in real "pound for pound" terms as opposed to the unreal percentage terms) significantly - particularly after Portugal adopted the Euro, and in recent years. (see other pages in this web site for details of rises). I am now alone, and over 70 , so am finding the idea of paying for a timeshare I am not likely to use very worrying.
I have perpetuity rights. Where does that leave me in refusing to pay maintenance ?
My age may work in my favour, as any legal action taken by management co would be seen in a bad light by press and the courts, and I feel I can stop payments without the added worry of bad credit rating or court appearances - at my age , these things are hardly an issue, BUT what of younger people - with mortgages, loans etc - how are they to handle this ?
I am of the firm opinion that the resale register does not work. There are too many owners trying to sell and not enough buyers. Overall, my advise is.....Cut your losses and hand in the apartment, or else tell them you are STOPPING paying any more maintenance fees, until the management company slash their fees by a whopping 75% - which would be a far more realistic figure ot cover all the maintenance costs that CPO resort have in a year (the true cost of maintenance of the resort is a tiny fraction of the inbcome they get - most money goes as director dividends etc).
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