Full Answer
How much does it cost to buy Diamond Resorts points?
As of October 1, 2016, the price of points in the Diamond Resorts U.S. Collection starts at $8.52 per point and a minimum purchase of 2,500 points is required. How do I cancel my Diamond Resorts timeshare?
Is Diamond Resorts International a reputable company in timeshare?
1. Re: Diamond Resorts International Diamond Resorts are one of the reputable companies in timeshare. DRI operate their timeshare club on a points basis and it does work for me. I have used their points system to take to to the USA, Carribean Spain and the Canaries on top of having a number of short breaks in this country.
What is the Diamond Resorts club?
Essentially "The Club" is a membership that allows you to participate within DRI's internal exchange system. Own "Trust" Points in one of the Diamond Resorts Collections. All owners in the "trust" are allowed to use their trust points to reserve time at any of the resorts within the resort collection of the trust which they own.
Where can I Sell my Diamond timeshare points?
This is typically your best option if you’re unable to sell your Diamond timeshare points for any sort of small profit on a site like eBay or Craigslist. Diamond’s “deed back” program is called Transitions™ by Diamond Resorts. Be paid off and current on maintenance fees.
What are the amenities at a resort?
Enjoy amenities at your resort such as a business center, swimming pool, fitness center, or on-site dining.
Do timeshares offer savings?
Timeshares on the resale market offer substantial savings over buying through the resort.
The Zwicky Case and Diamond Resorts Maintenance Fees
As we’ve discussed elsewhere in this blog, Diamond Resorts International (DRI) is a huge timeshare developer based in Las Vegas, Nevada. Rather than deeded weeks, DRI resorts boast a specialized points system that Diamond owners use to reserve units in destinations like Hawaii or Mexico.
Timeshare Exits: Getting Out of a Bad Situation
While you may not have known these details, they are probably not surprising. Timeshare maintenance fees are so high, and rise so often, that it makes sense that you might be paying more than necessary. The question is what you can do about it.
Break the Cycle
When you are stuck in a timeshare contract, it is difficult to think that there will ever be a way out. And as you pay more and more for maintenance fees, you may feel even more invested, like you now have to keep your timeshare for longer to justify your payments. But that is a losing game.
What does it mean to be a Diamond Resorts member?
You’re making a commitment to take time out for what’s important. Your membership is guaranteed time to reconnect with the things and people who matter most.
Why should vacations be fun?
They’re fuel for a better life in between our moments away, because knowing another vacation is just around the corner keeps us going.
What is diamond resort?
Diamond Resorts International is a global hospitality and vacation ownership company. Your ownership entitles you to travel to and explore 350+ destinations across the globe. What I like about Diamond is that it is a flexible, points-based program with multiple benefits, such as air travel and cruises. What I like most is the ability to exchange points ( no exchange fee) for short term or long term travel. The units are well maintained. Easy to navigate website and make online reservations.
How many happy owners does Diamond Resorts have?
With more than a quarter century in resort management and development, and nearly a half million happy owners, Diamond Resorts has proven that they know how to make vacationing fun, luxurious, friendly, and easy to enjoy. Now add in the flexibility of Diamond Points and the deep discounts available in timeshare resales, and you have every reason to go “shopping for a Diamond!”
Why are Diamond Points important?
Diamond Points are your currency to open doors of timeshare exchange and vacation flexibility.
What level of membership is Diamond Timeshare?
If you own Diamond timeshare purchased through DRI, you can choose your membership level at any of four tiers, each one offering additional travel rewards and opportunities, and all made available when you use your points as currency. Membership in THE Club can be at the Standard, Silver, Gold, or Platinum level.
What are the levels of Diamond Points?
Membership in THE Club can be at the Standard, Silver, Gold, or Platinum level . The higher your membership level, the lower your cost to take advantage of Diamond Loyalty Benefits. For example: if a Diamond Points THE Club member pays $100 to exchange his or her timeshare for a cruise, a Silver member would pay only $75 for the same exchange benefit, while a Gold member would pay only $50, and a Platinum member would pay no exchange fee at all.
How many points do you get for ownership of a hotel?
Hotels are in U.S. and World wide. You receive 4000 points a year and ownership is complete. The yearly upkeep, maintenance and insurance is around $1200.00 a year. There will be a balance to be paid off but the offer is a good one since it is with Diamond Industries a leader in the time share field.
Can you become a member of Diamond Resorts International?
Owners who buy Diamond Resorts timeshare directly through Diamond Resorts International automatically become members of THE Club at Diamond Resorts International at the membership level they select. Opportunities for membership in THE Club do not extend to the resale marketplace, and this is an important distinction to understand when you buy Diamond timeshare resales.
Is timeshare a good idea?
Timeshare is a good idea but when crooks with their lawyers get on board - its time for a change!
Is Diamond Resorts a good timeshare company?
Diamond Resorts are one of the reputable companies in timeshare. DRI operate their timeshare club on a points basis and it does work for me. I have used their points system to take to to the USA, Carribean Spain and the Canaries on top of having a number of short breaks in this country. Many people think it is expensive but if you use the system correctly you can get some great holidays without a great deal of expense.
Despicable Diamond Resorts - Diamond Resorts International
In 2013, we were visiting the Cancun Resort in Las Vegas when we were told that Diamond Resorts had taken over the membership that we had in two different timeshare companies.
Diamond Resorts Scams and Lies - Diamond Resorts International
I was visiting a resort in Utah when I was asked to attend a presentation with Diamond. I had previously been an owner with Monarch Grand Vacations and was told that this meeting was needed to address changes due to COVID.
Timeshare Misrepresentation - Diamond Resorts International
I was visiting Polo Towers in Las Vegas when I was asked to attend a sales update presentation. I told the staff many times that I was not interested but they insisted that it was necessary for me to learn about new updates. When I arrived, I was told that this meeting would take an hour of my time.
disappointment - Diamond Resorts International
Our first experience with Diamond was when we received an invitation in the mail for a weekend getaway to Orlando. When we arrived, we were asked to attend a sales meeting, where the staff told us about all of the benefits of being owners with Diamond.
Ripoff - Diamond Resorts International
Diamond Resorts nos ha engañado desde el principio! Le dijimos a su representante que estábamos a punto de jubilarnos y no queríamos comprar nada, sin embargo, nos coaccionó en un contrato que estaba muy por encima de lo que podíamos permitirnos.
Where did Diamond pitch his timeshare?
Diamond then subjected the seniors to an aggressive timeshare pitch in Nevada, he alleged, a tactic that his attorney told Courthouse News was common in the industry.
How much did Diamond pay to settle the case?
Diamond agreed to pay $800,000 to settle the manner. Such accusations are at odds with the image portrayed by Stephen Cloobeck, a vocal critic of Trump and a successful investor who founded Diamond in 2007 with a group of other Wall Street investors.
Why did Diamond ask Diamond to modify the agreement?
Burkhart asked Diamond to modify the agreement so that she could possibly get the other timeshare loans cancelled. She also requested that the $116,000 loan be completely rescinded and cancelled, rather than forgiven. Otherwise, she fears that her father will still owe taxes on it.
How much did timeshares make in 2017?
The industry's lobbying group bragged last year that timeshares made $9.6 billion worth of sales in 2017. Wyndham Vacation Ownership, another major United States timeshare company, said in a press release late last year that millennials are “raving” about timeshares.
Why are points not intrinsic value?
While the industry claims that “points” are no different than a deed, simply with more flexibility, consumers have noted that points appear to have no intrinsic value because they can’t be resold, making memberships that were purchased for hundreds of thousands of dollars essentially worthless on the resale market.
Can you return Diamond timeshare points?
The timeshare industry has claimed that unsatisfied owners can easily return points that they don’t want , and in that regard, Diamond has said that its own special Diamond Clarity program offers exactly that.
Did Diamond forgive her father's loan?
Burkhart replied that Diamond offered to forgive the loan on her father’s most recent and especially questionable Diamond purchase -- a points contract that he bought in late 2017 for $116,000. The purchase was made possible with a loan issued by Diamond and Barclays credit card, also issued by Diamond.
How many resorts are there in the Diamond Resort System?
There are more than 300 resorts included in the Diamond Resort System, you can view a list of all of them here: List of all Diamond Resorts. They are split up into Diamond "owned/managed" resorts, and resorts that are just affiliated with the Diamond system (for example you can reserve them with your DRI ownership).
How many days to book a resort with the Club?
If you can be flexible in your vacation planning, THE Club offers the opportunity to make weekly reservations at participating THE Club resorts when you book 59 days to 31 days prior to arrival at 50% off the current Points value. Save 50% off the regular Points price when you make your reservations from 30 days to 48 hours prior to arrival and plan to stay the minimum number of nights. Generally, the minimum number of nights is two (2) nights for resorts throughout the US and Caribbean. Check each resort for policies on minimum number of nights and check-in days.
What are points in the club system?
Points are the “currency” or “points” you use to reserve your vacations in the THE Club system . Every vacation is valued in Points, which is based upon the time of year, accommodation size, resort location and length of stay.
How often do you have to use points to vacation?
A Points Directory and Global Vacations Guide, which contains a list of resorts and the value of each vacation stay in Points, will be issued a minimum of once per year.
What is a DRI club?
Essentially "The Club" is a membership that allows you to participate within DRI's internal exchange system.
When do you save points for the club?
To save Points to the following year you must notify THE Club Reservations by the following dates: June 30 if you would like to save up to 100% of your annual Points allocation. August 31 if you would like to save up to 50% of your annual Points allocation. October 31 if you would like to save up to 25% of your annual Points allocation. Note: Your saved Points must be used by the end of the following year.
Can you contact the club to save points?
No. It is THE Club Member’s responsibility to contact THE Club to save Points.
What is a timeshare broker?
Similar to a traditional real estate agent, a timeshare broker may be able to help with the sale of your timeshare. Timeshare brokers are licensed by the state, so they are usually very trustworthy . Timeshare brokers typically work on commission and do not charge up-front fees.
Is it a scam to buy a timeshare?
They’ll ask you to pay an up-front fee to cover things like “taxes” or “transfer fees” and once they collect this up-front fee, they’ll disappear with your money and you’ll still own your timeshare. If anyone offers to buy your timeshare for more than what you paid for it, it is almost always a scam.
Is a contract a good idea for timeshare exit?
Always get everything in writing! A contract is always a good idea when engaging with a timeshare exit company.
Is there a timeshare exit scam?
Similar to the up-front fee scams prevalent in the timeshare resale industry, several timeshare exit scams also exist in the timeshare exit industry. There have been several timeshare exit companies that promised timeshare owners they’d be able to cancel their timeshare, but instead never cancelled the timeshare and simply kept the money instead.
Do timeshare brokers charge up front?
Timeshare brokers typically work on commission and do not charge up-front fees. In some states such as Florida, it is actually illegal for a timeshare broker to charge an up-front fee. Because timeshares are usually much harder to sell than traditional real estate, a timeshare broker will usually charge a much higher commission of around 50% of the sales price.
Can you get rid of a diamond timeshare?
Owning a Diamond timeshare can provide you with years of enjoyable vacations, but at some point, you may find yourself wanting to get rid of Diamond timeshare. This can be a tricky task because most timeshares decrease in value significantly after purchase. Many timeshare owners have difficulty giving away their timeshare for free. This is why there are hundreds of timeshares being advertised by current timeshare owners on sites like eBay and Craigslist for as low as $1 with no buyers.
Can you get money from a timeshare sale?
No matter the method used, you shouldn’t expect to receive any proceeds from a sale if you choose to work with a timeshare exit company. In fact, you’ll likely need to pay several thousands of dollars just exit Diamond timeshare. Take a look at the average cost to get out of a timeshare here.
