2015 Grand Beach rate hike only 1.58%

[johnrsrq]

Diamond and our HOA has managed once again to keep a lid on large hikes as evidenced by the attached proposed budget. My three bedroom 3 bath extra large unit on the lake and a mile from Disney marketplace still only $965 for the year.

Diamond has done well for us. Way to go Diamond. I thought I'd see a much bigger hike. I wonder how the comparable Marriott three bedroom units have fared.

 

[winger]

Diamond and our HOA has managed once again to keep a lid on large hikes as evidenced by the attached proposed budget. My three bedroom 3 bath extra large unit on the lake and a mile from Disney marketplace still only $965 for the year.

Diamond has done well for us. Way to go Diamond. I thought I'd see a much bigger hike. I wonder how the comparable Marriott three bedroom units have fared.

How did you get this letter, from DRI.com? I still cannot see any statements, HOA docs, or budget docs for Polo.

 

[RuralEngineer]

assessment

Powhatan's increase is 6.62% Still not bad given that it is an older resort.

"In light of the continued improvements being made at the property, the Board of Directors has approved a 6.62% increase in our 2015 maintenance fee; an additional $62.21 to $88.66 per interval, depending upon unit type. Of this increase, a little over 3% of it will go to the reserve account, which has not had an increase since 2012. More reserve funds are needed in order to continue the pace of suite refurbishments. The Board is pleased to have held the increase to 6.62% given the impact of the increased number of employees participating in health care under the Affordable Health Care Act. "

Stephen

 

[johnrsrq]

How did you get this letter, from DRI.com? I still cannot see any statements, HOA docs, or budget docs for Polo.

In the mail from the HOA which is a property managed by Diamond since they took it over from Sunterra. (briefly was managed by Hliton with initial ties to Embassy).

I receive info separately related to Diamond points and collection fees usually in November.

 

[nightnurse613]

MY experience is the fees depend on who controls the Board- the HOA or Diamond. I get mine directly from the DRI website for my DRI managed property (Golf at SGR). Notified in late August-just made final payment yesterday. Surprised that I haven't seen my Club m/f yet; I thought I usually saw them by September..

 

[kalima]

bad mf's

Out of interest, is there anywhere on your letter about how much of each dollar paid goes to bad debt from peeps defaulting on their fees? Another member on our FB site said he just got the letter and it went up higher than what yours are stated as being and that a certain amount from every dollar paid by us in fees goes towards bad debt from peeps defaulting etc.

 

[johnrsrq]

Out of interest, is there anywhere on your letter about how much of each dollar paid goes to bad debt from peeps defaulting on their fees? Another member on our FB site said he just got the letter and it went up higher than what yours are stated as being and that a certain amount from every dollar paid by us in fees goes towards bad debt from peeps defaulting etc.

Post #1 has a pdf of the letter attached. So it is there for your reading pleasure.

 

[johnrsrq]

oh no! the new budget for Grand Beach weeks- Diamond renewal skyrockets mgmt fee

Diamond and our HOA has managed once again to keep a lid on large hikes as evidenced by the attached proposed budget. My three bedroom 3 bath extra large unit on the lake and a mile from Disney marketplace still only $965 for the year.

Diamond has done well for us. Way to go Diamond. I thought I'd see a much bigger hike. I wonder how the comparable Marriott three bedroom units have fared.

Last years preliminary budget was pleasant, not so this year. Aside from this years structural issues in the Grand Beach budget (to the tune of several million over a few years), the management fee renewal contracts soars over 214% . The local hoa indicated we've had a lower than market management fee for the last 6 years (guess that helped launch Diamond). In $ terms, the fee does go from $365,597 to $1,150,850. The lid (management) on the other costs looked reasonable. The local HOA for Grand Beach working with Diamond has done a great job.

On the bright side, the 3/3 extremely spacious units near Disney still trade very favorably when split up in II using II through Diamond. The 3/3 fixed week cost will finally break $1,000 year or more likely $1,109. This is up from $965 last year. This is still less than comparable Marriott's and DVC- using II vrs II.

I also have a voting ballot for anyone wanting to be on US points, if you're on this list and want my vote- let me know.

It still works favorably for me.

 

[johnrsrq]

Last years preliminary budget was pleasant, not so this year. Aside from this years structural issues in the Grand Beach budget (to the tune of several million over a few years), the management fee renewal contracts soars over 214% . The local hoa indicated we've had a lower than market management fee for the last 6 years (guess that helped launch Diamond). In $ terms, the fee does go from $365,597 to $1,150,850. The lid (management) on the other costs looked reasonable. The local HOA for Grand Beach working with Diamond has done a great job.

On the bright side, the 3/3 extremely spacious units near Disney still trade very favorably when split up in II using II through Diamond. The 3/3 fixed week cost will finally break $1,000 year or more like $1,109. This is up from $965 last year or 14.9%. This is still less than comparable Marriott's MGV and DVC- using II vrs II.

for comparison from another thread in Marriott.

Grande Vista
MGV 3BR Platinum Annual

2016 Club Dues 2016-01-05  42.78
2016 Property Tax Fee 2016-01-05  235.06
2016 Replacement Reserve 2016-01-05  378.63
2016 Operating Fee 2016-01-05  947.96

TOTAL: 1604.43 (last year was 1465.70, a 10% increase!!)

MGV 2BR Platinum Annual

2016 Club Dues 2016-01-05  42.78
2016 Property Tax Fee 2016-01-05  206.53
2016 Replacement Reserve 2016-01-05  286.96
2016 Operating Fee 2016-01-05  718.48

TOTAL: 1254.75 (last year was 1153.52, almost a 10% increase!!)

I can trade just as favorably in II. My entry was much lower. Not 30 or so resorts but trading worldwide. fwiw.