Generally, before you can accept the various timeshare presentation offers that include significantly discounted nightly rates, the timeshare developers want to make sure that you have sufficient income in order to be able to purchase a timeshare.
Therefore, in the fine print of most timeshare offers, they have certain income requirements that must be met.
The income qualifications can vary widely depending on the specific timeshare brand, the specific timeshare offer or the specific timeshare resort that they are selling.
In my previous post on the Holiday Inn Club Vacation offers, the minimum income requirements for that offer was $50,000.
in other offers such as the Hyatt Residence Club for San Antonio or Key West, Hyatt requires the minimum income requirement to be $75,000 per year.
For the new Hyatt Ka'anapali Resort in Maui, Hawaii, the minimum household income is at least $125,000.
For a Vistana offer that I received, the income requirements were at least $100,000.
Verification of Income
I have taken advantage of many of these types of offers. The pricing is usually fantastic and the various extra including points, resort credits, upgraded accommodations, etc. are generally too good to pass up.
I use to do these offers regularly when I was in school as it was a great way to vacation for cheap. While I would not encourage lying, I have never been requested to show any income verification. Maybe it is because I try to look the part when I go to these offers or maybe because they do not want to offend anyone, but I have never been asked for proof of income or have seen anyone being asked.
I have written about these timeshare offers before and they are a fantastic value. Depending on the person, sitting through a two hour presentation in exchange for a materially discounted vacation is a great deal. Timeshare presentations can be brutal but the vast majority of them have been pleasant and easy going.
However, I have definitely encountered plenty of horrific timeshare presentations that stretch way beyond 2 hours and they hold you hostage without giving you the promised gift. I would say that the name brand timeshares (Hyatt, Marriott, Hilton, Vistana, etc.) do not resort to these types of antics but there can always be an exception.
Overall, the purpose of the income requirements for these offers are to ensure that you can afford the product that they are going to sell you. They do not want you to say that you simply can't afford it as one of the reasons.
If you get targeted for some of these offers, I would definitely read the fine print before accepting. You need to know what the minimum requirements are for these offers as you simply do not want to show up only to be told that you are required to pay the "retail price". The retail price will be many times the advertised offer price and it will be an awful surprise and a great way to ruin a "cheap" vacation.
I definitely do not encourage lying but the income requirements should be a rough estimate of your financial position. If you make $50,000 as an employee but get tons of perks including health insurance, car payments, housing, etc., it is probably similar to someone making $75,000 or more as a self employed person who needs to pay out of pocket for everything.
I have never been asked to show any income verifications so I would not be too concerned when booking these packages but you should be aware of the desired demographic and make sure that you meet these income requirements in some form or fashion. You definitely do not want to be disqualified from the offer and be responsible for the difference in price. It will be massive.
Have you ever been asked for income verification?