# Palm Beach Shores help!?!



## deter1 (May 9, 2008)

I own at Palm Beach Shores Resort and am trying to connect with others who own. Have just received an assessment letter - need emergency $$$ to cover repairs to keep Gold Crown status, this is above and beyond yearly maintenance fees.
Can anyone provide help here? Or tips to post query?

Thanks, sedmdd

Whoops shows me as guest, but am a member as of today - now what do I do to correct that?


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## irish (May 9, 2008)

i own there too, but i'm not sure what you are asking...please explain


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## deter1 (May 9, 2008)

Irish - we got a letter from the Board, Dr Gene Nini, indicating that Palm Beach Shores Resort was in dire need of major repairs to the tune of $3.6M which would be an assessment to all owners regardless of unit size. I contend that our yearly maintenance fees should in part handle the repairs; we need a detailed accounting. Not knowing other owners has me at a disadvantage to 'sing this charge'.

Do you know other owners?

sedmdd


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## jesuis1837 (May 10, 2008)

I'm owner there, never received such letter (yet?) and i was there last summer and saw nothing that was in dire needs of repair! I know they are changing the area near the pool (or is it the pool itself?). When the hurricane hit few years ago, they had for over 250K in dommage i think but the insurance paid most of it and we had money in reserve for such event so i am very surprise about what you are saing! Last time i talked to managers (last august) i havent heard a thing about upcoming extra assesment...:annoyed: will wait and see if i receive such letter...


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## bocamike (May 10, 2008)

I also received the letter, looks like at the June 5th board of directors meeting there will be a vote on trying to get the special assessment through. The assessment, if passesd, will amount to $270 per week/unit owned.

Mike


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## dougp26364 (May 10, 2008)

sedmdd said:


> Irish - we got a letter from the Board, Dr Gene Nini, indicating that Palm Beach Shores Resort was in dire need of major repairs to the tune of $3.6M which would be an assessment to all owners regardless of unit size. I contend that our yearly maintenance fees should in part handle the repairs; we need a detailed accounting. Not knowing other owners has me at a disadvantage to 'sing this charge'.
> 
> Do you know other owners?
> 
> sedmdd



You're right, repair items should be covered by the regular MF's of a resort. However, there is the occasional unforseen expenses and, as is the case most of the time, HOA/BOD's the don't collect enough each year in reserves to cover the unforseen expenses. Thus, many resorts end up with a special assessment. You're neighbor resort, Marriott's Ocean Pointe, had a SA last year that was in the $200 range secondary to hurrican damage.

Many HOA/BOD's are tempted to keep MF's as low as possible. This almost always turns out to be a mistake in the long run. It takes an assessment to catch everything back up and, to poor salt into an open wound, usually means that MF's must (should) go up so that it's less likely to happen again.


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## jesuis1837 (May 10, 2008)

Well i,m IMPATIENT to receive that letter.... :annoyed: I'm really surprise by all this as our reserve covered the last hurricane and everything seems fine when i was there last august...


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## jesuis1837 (May 10, 2008)

Just to show you how the ''hurricane argument'' is useless (as i wrote i havent received that letter so i dont know exactly what is their point to request a SA) here is what i found from the website of dailymanagement resort (the one who is in charge of PBS) dating to 2006 and concerning the damage to our resort because of Wilma...

''Palm Beach Shores Resort

Greetings from beautiful Palm Beach Shores Resort and Vacation Villas!

Have you seen us lately?  Our beautiful “pink palace” has had a complete exterior paint job and we look fresh and new.

As many of you know we sustained over one Million dollars damage last October 23rd when Hurricane Wilma blew through town.  We were closed for 5 weeks due to having no air-conditioning.  I am happy to report we have a brand new roof, flat and tile, new chilled water pipe system (that controls our air-conditioning system) all with new pipe insulation on the roof.  Many of the sliding glass doors that were bent have been replaced, and many pieces of glass in the sliding glass doors that had seals broken from the wind which caused a dirty foggy appearance have been replaced, The Tiki bar roof , the musician bandstand and the pool towel hut received beautiful new thatch roofs, and several of our exotic bird’s cages were replaced, and all of this was paid by our property insurance carrier with the exception of $100,000 due to us buying a wind buy back policy that reduced our deductible from $473,000 to $100,000!

In 2005 we replaced all the bedroom carpet in all of our units.  This year we have installed DVD players in all the units and I am happy to report all units have received new beautiful, comfortable sofa beds.

We will soon be upgrading to high speed Internet access in the guest units, which will be complimentary with additional wireless hot spots in the public areas as well as the pool area.

Your team here at the resort has had quite a busy year and can’t wait to welcome you back to your “ home away from home.”

pbsr@dailymanagementresorts.com


SO...  if someone could attend the meeting of june 5th and refer to that point...


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## cw_racefan (May 12, 2008)

I got the letter last week. Looks like they're talking about replacing the elevators (outdated, no parts available), the lobby, repairing water damage under the domes, and a couple other things I don't remember. I don't remember if the elevators were included in previous budgets where they listed expected service life and how much was in reserves for them or not. You used to be able to get to the budgets/etc through the PBSR website, but since the dedicated website is gone, not sure how to access them (I don't have my printed copy). Seems to me like that is probably the biggest expense in the assessment.


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## irish (May 14, 2008)

i may be in the minority here but i truly don't mind paying the s/a AS LONG AS THE MONEY GOES WHERE IT IS INTENDED!!
now, while i agree that it is not really a good time for an s/a, but when is? i feel i made an investment in this t/s and want to keep it both GOLD CROWN and as high quality as possible. also, compared to the s/a's on my other properties AND the MUCH higher m/f's i pay(MARRIOTT) $270.00 is not bad (JMO) i would rather pay that amount NOW, then get hit with a HUGE s/a somewhere down the line.  when we stayed at the resort this year(March of 2008) i REALLY felt the the "powers that be " were making  needed improvments to the resort. so much so, that I am on the lookout for more weeks to purchase. 
also, people we met while there and keep in touch with, went on to  purchased 2 weeks(resale of course). they were originally scheduled to stay in a t/s in another part of florida(pompano or boca i think)  when they saw how rundown and gone to seed the  resort had  become, they got on the phone with RCI and DEMANDED a week somewhere else. so they were given PBS and loved it. THAT is the kind of feedback i want when someone stays at the resort for the first time.
i make improvements to my home all the time and while i may not enjoy spending the $$ to do so it is a NECESSARY evil. how can i expect to do less for my "vacation home". 
let's give the HOA the opportunity to improve the resort and see where they go with it. 
again ...this is JMO


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## Conan (May 14, 2008)

I'm also an owner, and I agree with Irish - - it's not that large a sum, and the letter makes a convincing argument....


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## JimJ (May 14, 2008)

I figured that the amount they ripped off exchangers for a parking fee would cover their extra expenses.


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## cw_racefan (May 15, 2008)

I have to say I agree with Irish here. As long as the money goes where they say, I'm not too upset about it.


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## Porkchop1281 (Jun 17, 2008)

*Palm Beach Special Assessment*

I am not sure how much all the owners paid for this timeshare but I am sure it wasn't cheap.  I am not opposed to pay the special assessment if I understand how this association budgets the money.  I looked at my owner documents and stubbled accross the 2002 budget and noticed that all there income was due to maintenance fees.  I hope that isn't the case in these past few years.  Does anyone have a copy of their 2008 income/expense report?  If they allow reservations through online travel sites such as Orbitz, then they must be making money outside the maintenance fees.

I know when you decide to rent the unit, they take a certain percentage on top of it.  They collect millions of dollars a year from our maintenance fees and typically they break even with little in there reserves.

I own a one bedroom unit on the 50th week.  I did a search on orbitz and found a similar unit for $1,222 for the entire week.  With our maintenance fees, insurance, taxes, and special assessment we are looking at $940.  This is still a $280 savings.  But chances are we bank it through RCI and pay 200 dollars.  Then we only save 80 bucks if we get a week somewhere else comparable. 

I just think at the end of all of this, some of us paid over 10,000 for this week for a very little return.  Now owners can't seem to be able to sell it for a few thousand dollars.  How are we, the owners, can market these units if a person who is not associated with this resort can come from anywhere and book it online without the upfront cost and annual fees.

There had to be considerable damages if the deductible was over $800k

I am very interested on your take to all of this?  I am having a converstation with Dr. Gene Nini sometime this week, your feedback will be appreciated.

Sincerely
Vic


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## jesuis1837 (Jun 17, 2008)

Have you received that letter by the way about that upcoming SA? I'm still waiting mine....   Never received anything by mail since that thread started so i'm kinda upset as i have paid big hard money (yes from the developpers.. ) to be an owner and if i hadnt stopped by at TUG i wouldnt know what is coming...  At least, i 've got my revenge from those developpers as after discovering TUG i got my Marriott on the resale!


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## Porkchop1281 (Jun 17, 2008)

*Palm Beach Shores Resort Special Asssessment*

I didn't recall receiving my letter either, Although I did receive the bill yesterday for $270 and that's why I emailed PBSR and they replied with this attachement which I posted to my FTP

http://members.cox.net/vpina5/PalmBeachSA.pdf

Hope this helps ya, I am requesting more information this week from Dr. Gene Nini

Thanks
Vic


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## jesuis1837 (Jun 17, 2008)

thanks Vic! Finally i have something to read about....


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## jesuis1837 (Jun 17, 2008)

tell me what you got from Dr Gene. The letter isnt perfect....  Each TS owner contributes to 270$...  Same fees for 1 bd vs 2bd?  It isnt clear to me...  What about the insurance deductibles of almost 875K?  In the last hurricane, as i wrote earlier, it was clear to me that it cost us only 100K and not 473K because of a wind buy back policy ?   See what PBS wrote about it in my upper post...


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## Porkchop1281 (Jun 18, 2008)

*Update w/ Dr. Gene*

I submitted my questions to PBSR and they are being fowarding them to Dr. Gene but he has no email.  They provided an mailing address to send regular mail.  The mail address is:

Dr. Gene Nini
P.O. Box 1114
Ruidoso, NM  88355

Another contact I have is Lueanne Fogel, Director of Owner Services, (561) 863-4000 ext 1071.  She was able to provide me the letter in May.

Questions I asked are

Budget Reports for the last 5 years (Income / Expenses)
What the Insuranced Coveraged
What was the actual Deductible
What was in our reserves before deductible

More to follow...  I also asked for a direct phone number since I believe these questions are quite straight foward.

I did a google search on the PO Box Address and his name above and figured his phone number is (505) 257-8852 if you need it.

Vic


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## Porkchop1281 (Jun 19, 2008)

*2007 Budget*

Here is the 2007 Budget....  Here it mentions the deductible can be up to $950,000

http://members.cox.net/vpina5/PalmBeach2007.pdf

Not sure what was covered yet by the insurance.

Vic


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## Z28 (Aug 6, 2008)

*PBS Special Assessment*

Shouldn't hurricane or other types of damage to the resort be covered by insurance? 
I can honestly tell you we have been very disapointed with the Palm Beach Shores Resort these past few years. Last March we had roaches in the room with a constant odor as well. The year before, the windows were so dirty, we could hardly see out. They seldom change the furnichure or carpeting and rip us off every year for a safe charge (which we never use). 
What this resort does have going for it, is a beautiful view. But I have seen this place mis-managed for years, and I am against any special assessment fee. It won't be long until we sell and move next door to the Marriott.


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## dougp26364 (Aug 6, 2008)

There is often a deductable that goes along with that insurance. Getting hit by one hurricane is one thing. Palm Beach was hit by either 3 or 4 a couple of years ago. The only thing that surprises me is that it's taken this long for the HOA/BOD to ask for the money to cover what was not coverd by the insurance payments. 

We own at the Marriott and paid a special assessment of $182.99 in 2006 for the unexpectd expenses associated with Hurricane damage not fully coverd by insurance. Not only that but they've also increased the amount collected for the reserves in an attempt to avoid future shortages. In 2006, the replacement reserve for our 3 bedroom unit was $129.81. By the 2008 billing it was $236.12. 

All timeshares are paid for by the owners. It's up to the HOA/BOD to set realistic MF's and reserve collections. Attempt to keep MF's low by ignoring future needs is short sighted and ends with the resort in decline or large special assessments. At home, most people don't set money aside for future needs but rely on credit to cover those needs instead. I don't believe timeshares can do this effectively so they need the money up front to replace and repair. If the HOA/BOD hasn't collected enough in reserves for such occurances, then they have to require a special assessment at some point in time for extra needs or just to maintain the resort to owners expectations. It's a problem other resorts suffer with from what I've seen.


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## Lizyyz (Nov 17, 2008)

*Any update re SAs on PBS?*

A 1-BR prime week just ended on e-bay with no bids.  Is it that bad of a buy? 

Thanks.


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## dougp26364 (Nov 18, 2008)

Lizyyz said:


> A 1-BR prime week just ended on e-bay with no bids.  Is it that bad of a buy?
> 
> Thanks.



I think it's more of a bad time to sell with the economy that way it is. This resort is ocean front and has a great beach with great water in front of it. We were just at Marriott's Ocean Pointe the first part of this month and Palm Beach Shores resort was actively working on getting the outside into shape.


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## Lizyyz (Nov 18, 2008)

*1BR EOY at PBS for less than $600*

including closing costs and 1 banked week, (and  it's a fixed week 26, partial oceanview), is this a deal not to be missed?  I read about the SAs but also read about owners being happy with management (so far).  I like the EOY idea but I promised DH I'm not buying any more timeshares... (but he doesn't know there's a qualifier:  unless it's a super buy and a deal of a lifetime!)

Would appreciate your advice.  Thanks.


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## cw_racefan (Nov 18, 2008)

That's probably not too bad,  we bought there 4-5yrs ago and paid about that before closing on Ebay for every year, week 45. Ours is off season, unlike the week your looking at, but a good time for comfortable temps down there. One thing to verify is whether it is a fixed unit or not. We have a fixed week, floating unit, so could possibly get a non ocean view (we never have though). Also, make sure the SA is paid (but you probably already know that since you own other TS).

We have no complaints and love going there, so have never exchanged. One nice thing was one year they were closed due to hurricane damage during our week, and they put us up in one of their sister resorts in Orlando for no charge. They are doing some renovating currently, redoing the domes on the roof, repainting/new light fixtures in the lobby area, etc.


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## Lizyyz (Nov 18, 2008)

cw_racefan said:


> That's probably not too bad,  we bought there 4-5yrs ago and paid about that before closing on Ebay for every year, week 45. Ours is off season, unlike the week your looking at, but a good time for comfortable temps down there. One thing to verify is whether it is a fixed unit or not. We have a fixed week, floating unit, so could possibly get a non ocean view (we never have though). Also, make sure the SA is paid (but you probably already know that since you own other TS).
> 
> We have no complaints and love going there, so have never exchanged. One nice thing was one year they were closed due to hurricane damage during our week, and they put us up in one of their sister resorts in Orlando for no charge. They are doing some renovating currently, redoing the domes on the roof, repainting/new light fixtures in the lobby area, etc.



Thanks.  I just checked and the $600 actually includes the 2009 MF which is $263 so total cost is really less than $350. I was told no SA due but I will recheck that and the other info.


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