Wyndham KINGSGATE special assessment?

[bobinmich]

Anyone have word of a special assessment with Kingsgate? At a recent presentation, they told me my MF were going up over 50 per month next year at kingsgate, due to a special assessment. Any word? Originally they said it was for "resale buyers" to try to scare me in to buying...I went to TWO presentations in Oct and BOTH said my fees at Kingsgate were going up over 50. I currently pay 91 for 238k points. I also have paperwork in process for a SECOND Kingsgate resale purchase.

If the special Assessment IS correct....how many years do they last? PS, do they go back "DOWN" after the special assessment? thanks! Bob

 

[Richelle]

Anyone have word of a special assessment with Kingsgate? At a recent presentation, they told me my MF were going up over 50 per month next year at kingsgate, due to a special assessment. Any word? Originally they said it was for "resale buyers" to try to scare me in to buying...I went to TWO presentations in Oct and BOTH said my fees at Kingsgate were going up over 50. I currently pay 91 for 238k points. I also have paperwork in process for a SECOND Kingsgate resale purchase.

If the special Assessment IS correct....how many years do they last? PS, do they go back "DOWN" after the special assessment? thanks! Bob

It’s a lie. One they’ve been using for years. The keep using it because people keep falling for it. If you knew they were trying to scare you the first time, what makes you think they are telling the truth now?


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[Richelle]

Oh and if there was going to be a special assesythat large, you better believe someone here or on the Facebook groups would be complaining it.

Also, you should have gotten the budget by now. They would have listed in it, if there was a special assessment. Special assessments are rare. If it’s a large one, they usually spread it out over the course of a few years or more. Twin Rivers (not a points resort or Wyndham resort), had a $150 special assessment for three years. That was per year, not per month.

Stop going to presentations if you are going to take what they say seriously. They don’t get paid if you don’t buy. Money is a very strong motivator to lie. They get paid commission only if you buy. Otherwise they get nothing. Also, don’t go there to “get answers to your questions”. They are not there to teach you or inform you. They are there to sell you and nothing else. Any “answers” you get will be whatever they think will get you to buy. That may not always be the truth. Most of the times it’s a lie. If you need information, you can come here or call vacation planners. Call Kingsgate and ask if there is a special assessment. I’ll bet $1 that they say no.

Finally, let’s say there was a 50% special assessment. I think Kingsgate is about $5.50 per 1,000 points? I know it’s in the $5 range somewhere, but let’s round it up to $6 per 1,000. Let’s also say you have 300,000. 50% of $6 is $3. Times that by 300, and the special assessment would be $900. Special assessments are not per so it would either be a one time charge or spread out over the course of two or more years.

How many points was the sales person trying to sell you? What were the maintenance fees? Let’s say they were “willingly to sell you 84,000 points for $15,000. Then you have to pay the extra maintenance fees on those 84,000 points. You’d spend all that to avoid a one time $900 special assessment? Oh and unless you’re giving up those resale points through ovations, you’re still paying that $900. They don’t accept resale for trade, so you’re still paying that special asset plus the extra fees and $15,000. How is this making any sense?


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[bobinmich]

Oh and if there was going to be a special assesythat large, you better believe someone here or on the Facebook groups would be complaining it.

Also, you should have gotten the budget by now. They would have listed in it, if there was a special assessment. Special assessments are rare. If it’s a large one, they usually spread it out over the course of a few years or more. Twin Rivers (not a points resort or Wyndham resort), had a $150 special assessment for three years. That was per year, not per month.

Stop going to presentations if you are going to take what they say seriously. They don’t get paid if you don’t buy. Money is a very strong motivator to lie. They get paid commission only if you buy. Otherwise they get nothing. Also, don’t go there to “get answers to your questions”. They are not there to teach you or inform you. They are there to sell you and nothing else. Any “answers” you get will be whatever they think will get you to buy. That may not always be the truth. Most of the times it’s a lie. If you need information, you can come here or call vacation planners. Call Kingsgate and ask if there is a special assessment. I’ll bet $1 that they say no.

Finally, let’s say there was a 50% special assessment. I think Kingsgate is about $5.50 per 1,000 points? I know it’s in the $5 range somewhere, but let’s round it up to $6 per 1,000. Let’s also say you have 300,000. 50% of $6 is $3. Times that by 300, and the special assessment would be $900. Special assessments are not per so it would either be a one time charge or spread out over the course of two or more years.

How many points was the sales person trying to sell you? What were the maintenance fees? Let’s say they were “willingly to sell you 84,000 points for $15,000. Then you have to pay the extra maintenance fees on those 84,000 points. You’d spend all that to avoid a one time $900 special assessment? Oh and unless you’re giving up those resale points through ovations, you’re still paying that $900. They don’t accept resale for trade, so you’re still paying that special asset plus the extra fees and $15,000. How is this making any sense?


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I went to a presentation in Orlando 3 weeks ago, They never presented me with a proposal. They DID say my fees were going from 91 per month to 146 next year due to a "special assessment that if I was an owner through them, would not have happened". I just said, we'll see what happens, and they never presented me with a sale. Last week, I went to a presentation at Governors green, only because they were giving me a "7 night 2 BR stay plus rest coupons"....again, they NEVER presented me with a sale package...but they said my fees were going up from 91 to "about 150". I am awaiting paperwork for a SECOND Kingsgate RESALE purchase, that the MF are "751" per year, so I thought maybe that was the 2 contracts together...? I called wyndham, and they said it would be "finalized in 8-12 weeks"....so I really don't know if there is a special assessment at Kingsgate, if my second contract was "included" in the amount they mentioned...or if they BOTH were blowing smoke up my heiney...but they said pretty much the same thing...which I found odd...

PS, another thing of note...there were about 25 couples at the presentation, I was the ONLY one in a room where no one could hear us, the others in a "cafeteria style" setting....I believe that is because I BOUGHT RESALE ON EBAY and they didn't want anyone hearing our discussions.

thanks, Bob

 

[Richelle]

I went to a presentation in Orlando 3 weeks ago, They never presented me with a proposal. They DID say my fees were going from 91 per month to 146 next year due to a "special assessment that if I was an owner through them, would not have happened". I just said, we'll see what happens, and they never presented me with a sale. Last week, I went to a presentation at Governors green, only because they were giving me a "7 night 2 BR stay plus rest coupons"....again, they NEVER presented me with a sale package...but they said my fees were going up from 91 to "about 150". I am awaiting paperwork for a SECOND Kingsgate RESALE purchase, that the MF are "751" per year, so I thought maybe that was the 2 contracts together...? I called wyndham, and they said it would be "finalized in 8-12 weeks"....so I really don't know if there is a special assessment at Kingsgate, if my second contract was "included" in the amount they mentioned...or if they BOTH were blowing smoke up my heiney...but they said pretty much the same thing...which I found odd...

PS, another thing of note...there were about 25 couples at the presentation, I was the ONLY one in a room where no one could hear us, the others in a "cafeteria style" setting....I believe that is because I BOUGHT RESALE ON EBAY and they didn't want anyone hearing our discussions.

thanks, Bob

As a general rule of thumb, never take them seriously and don’t go to presentations if you’re going to believe them, even if only a little bit. Those discounted trips that require a presentation are not worth it. If you’re worried about a special assessment, call Kingsgate.


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[hjsweet2002]

At a sales presentation at Governor Green, they tried to tell us that a special assessment was coming that would cost us hundreds a month for a year. What a lie. Wyndham doesn't set Special Assesment, the Home Owners Association does. Another sales tactic to scare people into buying. "We can waive the Special Assement if you buy more points". That was what they told us.
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[MaryBella7]

I got a proxy vote letter this week from Kingsgate. They mentioned all of the upgrades/fixes done over the past year without extra cost, but do not mention anything unusual coming up.

 

[bestpal38]

Anyone have word of a special assessment with Kingsgate? At a recent presentation, they told me my MF were going up over 50 per month next year at kingsgate, due to a special assessment. Any word? Originally they said it was for "resale buyers" to try to scare me in to buying...I went to TWO presentations in Oct and BOTH said my fees at Kingsgate were going up over 50. I currently pay 91 for 238k points. I also have paperwork in process for a SECOND Kingsgate resale purchase.

If the special Assessment IS correct....how many years do they last? PS, do they go back "DOWN" after the special assessment? thanks! Bob

First question is, did they try to get you to trade it in on something else?? Their game is, if you own one thing, they try to sell you something else, by lying, usually about the MF's. I was told at Grand Desert that I needed to get out of CWA because my MF's were going up to $1200 a month. Exaggerate much?? I love my Wyndham timeshare, just have a very hard time respecting a company that bases it's sales practices on lies. I still go to presentations though, I think they're pretty fun, to listen to what BS they are spewing this time!! I'm supposedly on a Do not sell list, I'll find out Wednesday evening............

 

[dgalati]

First question is, did they try to get you to trade it in on something else?? Their game is, if you own one thing, they try to sell you something else, by lying, usually about the MF's. I was told at Grand Desert that I needed to get out of CWA because my MF's were going up to $1200 a month. Exaggerate much?? I love my Wyndham timeshare, just have a very hard time respecting a company that bases it's sales practices on lies. I still go to presentations though, I think they're pretty fun, to listen to what BS they are spewing this time!! I'm supposedly on a Do not sell list, I'll find out Wednesday evening............

Its called daze and confuse, add in some half truths and lies, then BAM ( Blindside and Add More) Wyndham will sell more points then one can possibly use. Then Wyndham sales can tell the dazed and confused mark of the day that they can rent 1/2 of the additional points added to pay all maintenance fees.

 

[rickandcindy23]

We had a SA at Kingsgate 12 years ago. It was quite high. I would hope they would not do another one because then you have to just assume someone is not budgeting well.

 

[Jan M.]

We had a SA at Kingsgate 12 years ago. It was quite high. I would hope they would not do another one because then you have to just assume someone is not budgeting well.

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I'm under the impression that Wyndham is doing a much better job of guiding the Boards at the resorts in setting their budgets and reserve funds to ensure that special assessments aren't needed for repairs, big projects and updating the units.

As to extreme circumstances that have brought about special assessments in the past. At last year's owner annual meeting one of the topics addressed was insurance and how it effects the need for special assessments. Hurricanes had done damage to resorts last year and the year before too. The Wyndham resorts in Tennessee weren't damaged in the fire of 2018 but I believe it was a Westgate resort that was a total loss. So this was a topic fresh in our minds and of interest to many owners. It was explained that most resorts had elected to go with the group policy Wyndham had put together. That reduced the deductibles, the cost of the coverage and gave the resorts better coverage overall. I remember people wanting to know which resorts hadn't gone with the group coverage. They seemed intent on finding out if their home resorts were one of the resorts that hadn't gone with the group coverage so they could contact their boards of directors about making the change.

Every once in awhile when I am having very bad thoughts about Wyndham because of the website I try to remember that although the Voyager website was and still is a source of shame and failure on their part, there are other areas where they are making changes for the better that succeed.