Canceling a Diamond Resorts Timeshare
Diamond Resorts has been around since 2007. Founded by CEO Stephen Cloobeck, Diamond only sells vacation ownerships. It does not have any other products. Because its only source of money is Diamond Resorts timeshare sales, letting people cancel contracts is not in the company’s best interest. They do not want anyone to get rid of get rid of their timeshare. Diamond Resorts has done very well for itself with this strategy. Its earnings more than doubled in only 5 years, and they made $954 million in 2015. Linx Legal can and will get you out of your timeshare contract. Fill out the quiz below to get started.
Take Our Short Quiz To Cancel Your Diamond Resorts Timeshare 🏖️ 💰 ✈️
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Diamond Resorts Community Giving – But at What Cost?
Diamond also gives back to its community. Its primary event is the annual Diamond Resorts Tournament of Champions, held jointly with the LPGA. Profits from the Tournament have allowed the company to give over $3.5 million to Florida hospitals.
However, all this success came at a big price for the consumer. Diamond timeshare owners have claimed for years that the company lied to them about their maintenance fees and other program features. The company finally had to pay for it in 2016, when they settled with the state of Arizona. It refunded the owners in question a total of $650,000, and allowed them all to get rid of their contracts. It also had to change the business practices that led to the issue.
A Positive Answer to a Huge Timeshare Problem?
Diamond Resorts has risen to this challenge by creating the “Diamond Clarity” program. This is notable because not all timeshare companies will admit that this is a problem at all. This new program aims to improve employee conduct during the sales process to stop misrepresentation. It is focused on “transparency and accountability.”Clearly, this programs was started to discourage customers from getting rid of their timeshares. Diamond Clarity will require that customers receive easy-to-understand information about:
- The benefits and fees of each membership level
- Transferring their timeshare to third parties
- How to use points on travel and ownership fees
- Policies about billing cycles and payment increases
Customers will be given enough time to review their offer before signing. In addition, Diamond made a customer assistance channel to look into concerns “within 30 calendar days.” Timeshare owners can also use it to report resale scams (of which there are many).
A Great Start For Diamond Resorts But Not a Solution
This is a great start and certainly addresses many of the issues we have heard of from clients that own timeshares with Diamond Resorts. All of this information is important to understand before you can determine if a timeshare will work for you. We respect Diamond for their efforts to lessen the impact of lies in timeshare sales.
However, there are a few things they missed. First, much of the information that Diamond is “making available” to its owners moving forward is already in their contracts. This information is confusing, which makes it very easy for timeshare companies to hide it when numbers just don’t add up. People often fall prey to this tactic, especially with exchange rates between points and cash.
Second, Diamond describes these new codes of conduct in very relative terms. “Enough time,” for example, is subject to many different interpretations. That makes it just as easy as before for salespeople to act dishonestly while not “breaking the rules.” This is exactly what led to the problem to begin with.
So, Did Diamond Solve the Problems With Their Timeshares?
Diamond has taken a good approach to misrepresentation in timeshare sales. As one of the only companies to do so, that is a big plus. But it has not stopped the problem entirely. We still see complaints from Diamond owners about aggressive behavior and misleading promises. Diamond Clarity has been around for several years now, but these issues are still happening. Recent complaints we have seen include the company:
- Convincing owners to upgrade in order to access program features that were already available to them.
- Failing to answer complaints made to Diamond’s corporate office.
- Pressuring owners into upgrades without everyone on the deed present — this is a huge violation.
- Using owners’ distress to make them feel like buying was their only option.
These actions are predatory and we cannot ignore them. While Diamond has announced efforts to solve these problems, it seems that many owners still fall through the cracks.
Millennials: New Customer Base For Diamond Resorts Timeshare?
Diamond already has 400,000 members, and continues to see steady growth. Millennials are a new consumer group interested in vacation products. They want unique experiences, and will spend more on them than their older peers. They also prefer having a wide range of options.
In response, Diamond has made a product requiring a 10-year contract, rather than the lifetime that most timeshares are meant to last. While this kind of product may suit young people well, Diamond has still not shown that their forceful, profit-focused tactics have changed. They seem to be more than ready to profit off a new group. But they may not begin selling to them fairly until too many people have lost money.
Vacation time is valuable
No one should lose time or money to a stressful sales pitch. While they may work for some, point-based timeshares do not work in the owner’s best interest. There is not enough product for everyone. But these new vacation products will aim to generate even more money. In a system that is already too full to serve its owners, offers like this will often end up costing more than they’re worth.
How To Cancel a Diamond Resorts Timeshare
If you think your Diamond timeshare is the result of fraud, fill out our form to learn what you can do to get out of your contract. You can also complete our short quiz that is near the top of this page.
To call Linx Legal: 1-800-604-3989