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Fairmont Vacation Villas

Discussion in 'Canada Timesharing' started by two2go, Oct 9, 2012.

  1. two2go

    two2go TUG Member

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    We recently received information from Northwynd properties re buyouts of our lease at Fairmont Vacation Villas. Anyone know anything about this...
     
  2. Tacoma

    Tacoma TUG Member

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    I thought they bought out Fairmont about 2 years ago. The only difference that I've noticed is a large increase in maintenance fees and they have closed the office in Fairmont so all booking is done in Calgary now.

    Joan:)
     
  3. Steve Phy

    Steve Phy Guest

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  4. Quadmaniac

    Quadmaniac TUG Member

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    Just a note, they changed the transfer process where they are holding seller's to the MF if the buyer defaults on payments now. Not sure that is going to be enforceable, but to change ownership of their units, this is a part of the transfer process now and requesting ID of the seller as to keep on record as well.
     
  5. chips1

    chips1 TUG Member

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    Lake Okanagan Resort

    I found out that this is the policy now at LOR. No notice given. They also told me last year that I could relinquish my vacation interval at any time last year but now say that will not allow. I am not able to pay the fees due to financial situation and they would not even discuss a solution. So first they limit your ability to sell than they eliminate relinquish right without notice. This is last staw, I filled out the relinquish papers and will not pay another dime.
     
  6. TUGBrian

    TUGBrian Administrator

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    any owners on here from this resort? just heard of a massive special assessment of more than 4 grand for it? yikes.

    I was contacted by a media outlet in canada that is having me on their morning show monday to talk about it (well talk about sa's)

    can anyone shed some more light on the details at this resort for me?
     
  7. kenie

    kenie TUG Member

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    We own, for now, but haven't heard much other than there was going to be a special assessment. They sent out an info packet a while ago with artist's depiction of the new unit, etc. We won't be paying the assessment, and I don't even know if they can legally do what they're doing.....
     
  8. TUGBrian

    TUGBrian Administrator

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    tis what the media person was looking into...

    I inquired if she had spoken to any owners about when the hoa/bod meeting was held to approve the changes/fees etc etc.
     
  9. eal

    eal TUG Review Crew: Expert TUG Member

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    Here is a quote from Meow posted on this 3-page thread started 22/11/12:

    http://www.tugbbs.com/forums/showthread.php?t=182857&highlight=fairmont

    "With Sunchaser's last mailing you will now realize what the "new program" is all about. Their planned renovation is estimated to cost from $28 million to $38 million. They have not disclosed what it will cost on a unit basis, but one can try to estimate. The unit cost is about $900 for the $9 million 2013 maintenance budget. Therefore we would be looking at somewhere from a $3000 to $4000 special assessment spread over two years. There is no question that the Hillside/Riverside complex is badly in need of a renovation. My question is - is this a voluntary assessment? I'm not sure the lease allows for a special assessment like this. Perhaps, those that wish to bail out, can do so. Defaulting on this assessment does not appear the same as a default on maintenance fees"

    And this one from Jjareed:

    "I called them up this morning and chatted with a nice women about the upcoming renovation project. She told me we don't have a choice about paying the renovation cost which in my case will be between 3000 to 4000. I asked her if they would buy my unit back and she said they don't do that. I suggested just giving it back and she said they don't want them back. My reply to her was that the units must be worthless or you would take them back. I also got into a discussion of what is going to stop them from doing this later if I give in and pay. Did not have a good response, meaning she implied that they can do what they want. I asked her if we could vote on any of this and she said no. I mentioned to her that when we bought our timeshare in 97 that I was told if we didn't like what was going on we as owners could vote to change things. She didn't know if that is correct or not. She also mentioned there was a survey sent out and the majority of the owners wanted the change. I don't know if I can agree with her on. Thinking about getting out! Suggestions?"

    And here is a link to sunchaser's take on it:

    http://www.sunchaservillas.ca/owners/faq.asp

    Hope this helps!
     
  10. kenie

    kenie TUG Member

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    I just looked at my contract.
    I will simply default on any special assessment and they can take the lease back.

    This is what clause 13 says.

    13. DEFAULT OF THE LESSEE IN ANY PAYMENT REQUIRED UNDER THIS LEASE: In the event that the Lessee should default in making any payment required to be made by the Lessee hereunder, within the time stipulated for payment, then the Lessee agrees that the Lessee's right to occupy a Vacation Property shall be suspended until such time as all payments due have been duly paid. If a default in any payment required to be paid according to this Lease has not been remedied within 90 days from the date of such default, and the Lessee has been given a minimum of one written notice of such default, the Lessor may terminate this Lease upon written notice to the Lessee, and from the date of such notice all of the Lessee's rights to the Vacation Property pursuant to the provisions of this lease shall be terminated. Furthermore, from the date of such notice of termination, the Lessor shall be entitled to the full and exclusive right to use and occupy the Vacation Property free and clear of all rights of the Lessee pusuant to this lease or otherwise and Lessor may grant the right to use the Vacation Property during the week period to which the Lessee is entitled hereunder to another person or may retain it for any other purpose. The monies received by Lessor on account of rights of occupation or otherwise following such default or termination shall be retained by the Lessor as its sole and exclusive property as liquidated damages and not as a penalty. In the event of termination as hereinbefore provided, the Lessee shall, following such termination, be released from all obligations hereunder except for any monies then owing to the Lessor, or any other liabilities then outstanding of the Lessee, under this lease.

    Clause 21 states that the Lessor agrees to help establish and maintain a Lessee's association which they have never done.

    Clause 23 states the process to remove the manager....
     
  11. kenie

    kenie TUG Member

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    To the best of my knowledge there is no HOA or any other association.
     
  12. tdjanzen

    tdjanzen Guest

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    I am not a lawyer but I have bolded what I believe is the key terms here. The lessor MAY terminate the lease. It doesn't say MUST or WILL terminate the lease.

    From what I have heard from other people's posts, the current management don't want to own more units. So default all you want, they are not going to release you from what they believe are your obligations. They would rather pursue you in court or have collection agencies hound you forever.
     
  13. TUGBrian

    TUGBrian Administrator

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    has to be some sort of board of directors that answers to the owners if its a deeded property no?

    also would be interesting to see if a US citizen defaulting on a canadian debt would have a credit ding in the US?
     
  14. Maple_Leaf

    Maple_Leaf Tug Review Crew: Rookie TUG Member

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    No, not really

    Welcome to the world of Canadian timeshare governance. This is likely a long-term lease registered with the province, not a deed. For a playbook on how this is going to play out with the developer, refer to the experience of the Lodges at Horseshoe.

    Good luck and be prepared to lawyer-up.
     
  15. kenie

    kenie TUG Member

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    These were all sold as 40 year leases.

    i'm sure this will get ugly...

    Some of the newer Canadian developers are making the Mexicans look ethical...
     
    Last edited: Mar 9, 2013
  16. kenie

    kenie TUG Member

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    post deleted
     
    Last edited: Mar 9, 2013
  17. kenie

    kenie TUG Member

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    I don't read anywhere in my contract that this is an either/or situation. I am not a lawyer either, but the language gives them the option of taking back the unit or restricting my rights to use it, and seems to give me the right to not pay and loose my title or use.
    I owe nothing on the property and my M/F is current through 2013.
     
  18. Maple_Leaf

    Maple_Leaf Tug Review Crew: Rookie TUG Member

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    You are spot on

    If Canadians worked really hard to improve their timeshare governance we might get to the level of the Mexicans.
     
  19. TUGBrian

    TUGBrian Administrator

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  20. jekebc

    jekebc Guest

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    Want out of your Sunchaser Villas Timeshare

    Do you own a timeshare at Sunchaser Vacation Villas in Fairmont, B.C. and have concerns re the notice of major renovations that will increase the maintenance fees. A group of 30 timeshare owners that share your concerns are working together on a plan of action as to how to deal with Northwynd and the management company for the resort. If you would like to join this group, please email: thebelfrys@shaw.ca for details.
     

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