Transfer Smart News: US Timeshare Resale Company Acquires Canadian Resale Firm

With the number of owners who are trying to get out of their timeshare contracts increasing every year, there is an apparent for timeshare resale companies. Meanwhile, deciding which resale company to work with does matter. Recently, SellMyTimeshareNow.com, considered one of the world’s largest and most respected online timeshare resale and rental marketing organizations, has recently announced the acquisition of the primary asset as well as the customers of Canada’s leading timeshare reseller, RapidResale.ca.

According to Jason Tremblay, CEO of SellMyTimeshareNow.com, during the recent months, RapidResale founder April Cummins has become more involved in sales and marketing efforts for Canadian developers and sought a company to whom she could entrust her resale business, one that would take over the management of the existing website and the servicing of its customers. Due to their high level of success and national recognition, April asked if they would be willing to acquire this segment of her business to ensure a high level of continuing service for her customers.

Tremblay added that the six-year-old RapidResale website is already a highly trusted, well-optimized, perfectly positioned site that ranks extremely well with Canadian search engines. They are excited about the acquisition since it will provide their web-based company opportunities to further expand their presence in Canada. Links on their website will lead potential renters and buyers to the Canadian site, benefiting everyone involved. Their ultimate plan is for all of their sellers’ properties to be displayed on all of their websites including RapidResale.ca.

Founded in 2004, the RapidResale.ca is the domain name for Secondary Solutions Group which is an Ontario-based Canadian timeshare resales leader with a solid reputation for success and its growth into a multi-million dollar organization. The company also provides sales and marketing solutions to developers of shared-use vacation properties. On the other hand, SellMyTimeshareNow.com is recognized as a global leader in online timeshare resale and rental marketing, with over $427 million in offers through its websites in 2009.

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Transfer Smart News: Timeshare Industry Gives Refunds to Federal Allegations

Today, there are numerous complaints in the timeshare industry and thus, many owners want to get out of their timeshare contracts. But in Broward County, Florida and across the country, owners will soon split $562,000. This is an amount equal to the illegal contributions collected by the political fundraising arm of the US vacation industry from 2003-2007.

The said payout is a part of a deal between the industry and the Federal Election Commission to settle civil allegations of wrongdoing in the solicitation and distribution of millions of dollars in political contributions. The American Resort Development Association - Resort Owners Coalition PAC will also pay a $300,000 civil penalty. This is the largest fine imposed by the FEC since 2007.

According to ARDA, the errors were made in the collection of contributions but called them unintentional and unfortunate. ARDA's Washington attorney Mark Braden said that ARDA has taken proactive steps to suspend any improper practices and rectify past errors in an open and transparent way.

Meanwhile, the sale of vacation timeshares is a $10 billion-a-year business, with a large footprint in South Florida. In 2008 alone, 4.7 million households owned one or more weekly interval or points-equivalent timeshare properties as cited in ARDA's website. Moreover, Florida has more timeshare resorts than any other state.

ARDA is the industry's Washington-based trade association and also a major lobbying force on Capitol Hill and in Tallahassee. As shown by Federal records, since 2006, ARDA has spent more than $1.1 million on Washington lobbyists to oppose such things as mortgage reform legislation, including the expansion of truth-in-lending requirements to timeshare buyers.

Meanwhile, ARDA-ROC PAC has contributed hundreds of thousands of dollars to Republicans and Democrats and nearly all that political money came from tens of thousands of timeshare owners who paid them in small amounts to their property management companies as part of their regular bills. In 2008, the FEC disclosed that timeshare owners had been misled into donating to ARDA-ROC PAC while paying their regular vacation property fees. Political contributions are voluntary, and federal law requires solicitations to make that clear. At least three of ARDA-ROC PAC's solicitations lacked that information.

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August 9 pics

A cute woman in overalls

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