harveyhaddixfan
TUG Member
2018 budget received in the mail today for Beachwoods in Kitty Hawk, NC.
This makes no sense. While a lot of stuff has gone down, the management fee and now called Indirect Corporate Costs (formerly Corporate Overhead Allocation) went up roughly $60k. Some of what doesn’t make sense is housekeeping. It went from roughly $50 a unit to $200 a unit. Huh?
It gets better. The “developer delinquency contribution” was about half the bad debt expense last year. This year it equals it. It looks to me like all DRI is doing is padding their pockets. MF at this resort 5 years ago before Gold Key took over and renovated the place (and there was a special assessment) was only $625.
This makes no sense. While a lot of stuff has gone down, the management fee and now called Indirect Corporate Costs (formerly Corporate Overhead Allocation) went up roughly $60k. Some of what doesn’t make sense is housekeeping. It went from roughly $50 a unit to $200 a unit. Huh?
It gets better. The “developer delinquency contribution” was about half the bad debt expense last year. This year it equals it. It looks to me like all DRI is doing is padding their pockets. MF at this resort 5 years ago before Gold Key took over and renovated the place (and there was a special assessment) was only $625.
