Reduce Delinquencies :: Improve Cash Flow
6.7% of timeshare accounts are more than 120 days delinquent. An additional 1.5% of accounts are 31-120 days delinquent. Given current interval volume and average maintenance fees, this represents an industry cost of $875 million per year in delinquent payments.
The ARDA International Foundation
"State of the Vacation Timeshare Industry" 2018 Report
For Timeshare Management Companies, Timeshare Owners, and Prospective Buyers, delinquencies can be a major nuisance. Owners who do not pay their monthly maintenance fees on time lead to an endless collection cycle that starts over every thirty days for the unit. This leads to expensive legal fees and countless hours spent chasing money in a very inefficient manner.
Through Sperlonga’s partnership with the credit bureaus, our technology provides management companies the ability to attach maintenance fee payments to an individual owner’s Credit Score.
By providing an immediate reporting mechanism when payments are due, owners have an incentive to make their payments on time. Timely payments will positively impact an individual’s Credit Score and conversely, late payments will negatively impact an individual’s Credit Score.
Increase portfolio value
Less expensive process
Higher credit scores
Build credit faster
Lower your interest rates
Limit special assessments