Florida Legislation to Rein In Deceptive Timeshare Resales

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(ORLANDO, FL) -- The American Resort Development Association (ARDA) and the American Resort Development Association Resort Owners' Coalition recently announced its support of the Timeshare Resale Accountability Act, sponsored by Florida State Senator Andy Gardiner and Florida State Representative Eric Eisenaugle, and supported by Florida Attorney General Pam Bondi.

This bill was enacted to protect Florida consumers and help put an end to such deceptive marketing practices conducted by fraudulent timeshare resale companies that have been targeting consumers under the guise of offering a service to help sell their timeshare product.  Timeshare owners can now hold resale companies that use deceptive business practices accountable for their actions.  Also, the legislation seeks greater transparency and will require, among other things, timeshare resale companies to disclose all terms and conditions of their business relationship with a consumer, provide for a right of rescission for consumers to cancel a contract for resale services, and impose penalties on companies who continue these deceptive practices.

"General Bondi, Senator Gardiner, and Representative Eisenaugle are to be commended for their commitment to consumer protection and transparency," said Howard Nusbaum, president and CEO of ARDA.  "ARDA and the ARDA-Resort Owners' Coalition support their efforts to ensure that these important safeguards are put into Florida law."

The legislation - CS/HB 1001 and CS/SB 1408 - are in the legislative committee hearing process during the 2012 legislative session and will likely be passed by the legislature prior to its scheduled adjournment in March.

Nearly 25 percent of all timeshare resorts in the United States are located in Florida and represent a large and growing share of Florida's tourism market. The Timeshare Resale Accountability Act is proactive legislation that is vital to ensuring the long-term health of a key sector of Florida's tourism industry.

"This legislation is a needed first step by state authorities to take action against dishonest companies whose actions taint the industry's reputable resale companies," continued Nusbaum.  Similar legislation has been enacted in Colorado, and is being pursued in South Carolina.