2017 MF for BeachPlace Towers [Proposed - may go up 11%]

[pwrshift]

Better get ready...estimated MF for BeachPlace Towers going up an estimated 11% to $1,527 (platinum) for 2017! Gold up 10.9% to $1,498. Not even close to cost of living increases.

Dramatic increases for Accounting up 21%; Board of Directors up 14%; landscaping up 45%; pool Maintenance up 24%; garage up 73%; property taxes up 15%.

Owners have lost control.

 

[mclyne]

Marriott MF

That number seems pretty steep. I am wondering if anyone knows when 2017 mf will be mailed out.

I am interested in Frenchman's Cove and Aruba Ocean Club in particular.

Thanks

 

[dioxide45]

I think what you are seeing is because of a change in how they have to report out estimated MFs in Florida. They have to include in the estimated budget the full operating reserve based on fully funding the reserves per Florida law. Though your last years operating reserve may have been based on not fulling funding the reserves based on the vote of members at last year's annual meeting. So I wouldn't expect the final number to be up as much as you anticipate as long as members vote for waiving the fully funding of reserves.

 

[SueDonJ]

Every year for FL resorts the proposed MF increase is higher than expected due to the proposal including mandated fully-funded Reserves, which they suggest owners vote against (because full-funding includes items/amounts which are more than what's necessary to maintain the property.) It's also an item relative to the SC resorts but not on the same every-year basis as with the FL resorts. Is that in play with the proposal you've received?

Also, BPT has been one of the resorts which has had problems in the past reaching a quorum. Regardless of whether you think owners are in control or not (I happen to think owner control of any Marriott resort is an illusion ) it's important to vote. If they don't reach a quorum they're mandated to re-ballot the Annual Meeting at full cost to the owners.

Here's last year's related thread. If you do a search you'll find others.

 

[SueDonJ]

That number seems pretty steep. I am wondering if anyone knows when 2017 mf will be mailed out.

I am interested in Frenchman's Cove and Aruba Ocean Club in particular.

Thanks

You can get an idea of when your resort(s) will send out the MF bills by reviewing last year's MF's thread - for the most part they follow the same pattern releasing them every year at the same time.

 

[SueDonJ]

Another question about the proposal - the garage fee is up 73%?!? Don't they lease floors of the public garage? If that's the case, is there an explanation along the lines of an agreement renewal with the garage owners, and, MVW and the owners being held hostage to whatever terms the the garage owner sets?

If that's what is happening it stinks for owners but I wouldn't put the blame for this one on MVW.

 

[dioxide45]

Another question about the proposal - the garage fee is up 73%?!? Don't they lease floors of the public garage? If that's the case, is there an explanation along the lines of an agreement renewal with the garage owners, and, MVW and the owners being held hostage to whatever terms the the garage owner sets?

If that's what is happening it stinks for owners but I wouldn't put the blame for this one on MVW.

I believe Beach Place Towers actually owns the floors of the garage that they use. This increase is probably also a results of how they are determining the reserve fee for the garage based on fully funded and not fully funded.

 

[dioxide45]

Looking at the estimated budget we received for Harbour Lake a few days ago, the operating fee in 2016 was $300.00. The estimated amount for 2017 is $430.59. This number is based on fully funding the reserves which I would expect the owners to waive. The actual operating fee is only up about $40 for 2017. So if they waive fully funding the reserves, I would expect overall MF increase to be more along those lines.

 

[dougp26364]

Another question about the proposal - the garage fee is up 73%?!? Don't they lease floors of the public garage? If that's the case, is there an explanation along the lines of an agreement renewal with the garage owners, and, MVW and the owners being held hostage to whatever terms the the garage owner sets?

If that's what is happening it stinks for owners but I wouldn't put the blame for this one on MVW.

I believe Beach Place Towers actually owns the floors of the garage that they use. This increase is probably also a results of how they are determining the reserve fee for the garage based on fully funded and not fully funded.

This caught my eye also. My thought was the maybe BPT was hearing MVC exchanger complaints about paying for parking. It would be nice if BPT stopped subsidizing the owners fee's by forcing other MVC owners to pay for parking. Yes 73% is a BIG number but, if it's 73% of a low number then it wouldn't impact the overall total increase all that much. For instance, the Shuttle/Garage expense at Grand Chateau, which provides free valet parking, is only $4.20. So a "huge" increase of 100% wouldn't only amount to $4.20. I don't have access to BPT's parking expense but would be interest to know what it is since they charge non-BPT owners $14/day to park.

 

[travelplanner70]

Did you get your maintenance fee bill yet? I just got mine, and it was a good thing I was sitting down.

Yikes. Add lockoff fees, Interval trading fee, additional fee if upgrading to a larger unit - timeshares are not has cost effective as they used to be.

Any thoughts?

 

[bazzap]

I have never received, seen or even heard of estimated budgets for any of my MVC resorts.
Is this unique to Florida?

 

[SueDonJ]

I have never received, seen or even heard of estimated budgets for any of my MVC resorts.
Is this unique to Florida?

I think it's not unique to Florida but not all of the resorts send out estimated budgets. We don't get them for the SC resorts but they do include some info in the cover letter announcing the Annual Meeting vote. One of the things that they explain in advance is "Fully-Funded Reserves" during the years in which it's a voting item.

 

[dioxide45]

In Florida, there is an yearly BOD meeting and an annual meeting. The notice of the BOD meeting includes the estimated budget. It is at this BOD meeting that they go over the estimated budget. It is at the annual meeting, after the vode on waiving fully funding do they actually approve the budget. The estimate budget must include the reserve amount based on fully funding. So you can't go by the estimated budget to determine the increase in MFs.

 

[MOXJO7282]

It's so frustrating to see these large increases. Where will the pricing be in 5, 10 years? If the increases were in the 2% range it would be reasonable because I really do still feel that a 2 OF/OV bdrm Marriott on the water provides good value at the current prices but the way they continue to rise where is the end?

 

[bazzap]

Oh OK, thank you both again.
I understand the BOD meeting reviewing the initial, proposed (estimated?) budget.
At our home resorts though, I don't recall this going out to all Owners with the notice for the AGM.

 

[SueDonJ]

Oh OK, thank you both again.
I understand the BOD meeting reviewing the initial, proposed (estimated?) budget.
At our home resorts though, I don't recall this going out to all Owners with the notice for the AGM.

I think it's something that FL law requires, that the estimated budget has to be furnished to owners in advance of/concurrent with the Annual Meeting. If it weren't required of MVW I'm pretty sure they'd handle the Annual Meeting notices for the FL resorts the same as they do all the others - with a cover letter introducing any board member candidates and a brief synopsis of any issues up for a vote.

 

[dioxide45]

I think it's something that FL law requires, that the estimated budget has to be furnished to owners in advance of/concurrent with the Annual Meeting. If it weren't required of MVW I'm pretty sure they'd handle the Annual Meeting notices for the FL resorts the same as they do all the others - with a cover letter introducing any board member candidates and a brief synopsis of any issues up for a vote.

I would agree. They wouldn't provide amy more than legally required. The notice of the BOD Meeting includes the estimated budget. However, it is the annual meeting notice that includes the items up for vote and a synopsis of the candidates. The notice of annual meetings is also what includes the proxy for voting.

Many items are discussed at the BOD meeting. Nothing that would come up for vote by the ownership base. However many items are brought up by the board for their approval, seconded and either approved or rejected. Not much gets rejected in my experience from the one BOD meeting I just attended for Grande Vista. Though many items reviewed for spending are put off for future review.

 

[tgropp]

BeachPlace Towers Maintenance Fees

After reading a post from PWRSHIFT regarding the 11% Maintenance Fees increase for 2017, I did some research on my MF History. My MF in 2012 were $1,072.00 and next years are $1,500.00. This translates roughly into a 42% increase in MF's for a five year period. Not sure if there will be any relief in the future. My Disney Vacation Club increases are around 3 to 4% for the same time period Are other Marriott resorts all in this same scenario?

 

[tynian16]

So based on the numbers you listed, that implies a 6.95% increase per year. At the Surf Club and Ocean Club over the past four years, my increases have averaged less than that but not drastically less.

 

[Pens_Fan]

Aruba Surf Club 2012 - $1373.86
Aruba Surf Club 2017 - $1803.50

Increase of 31.27%.

 

[StevenTing]

If you look at the link on my signature line, you can see the history of your MF going back to 2009. I have most of the numbers in there.

 

[SueDonJ]

After reading a post from PWRSHIFT regarding the 11% Maintenance Fees increase for 2017, I did some research on my MF History. My MF in 2012 were $1,072.00 and next years are $1,500.00. This translates roughly into a 42% increase in MF's for a five year period. Not sure if there will be any relief in the future. My Disney Vacation Club increases are around 3 to 4% for the same time period Are other Marriott resorts all in this same scenario?

Has it been confirmed that the BPT estimated budget with the 11% increase has been approved? I know the conversation is shifting towards historical MF trends but they should be based on approved amounts, not estimated.

 

[tynian16]

Aruba Surf Club 2012 - $1373.86
Aruba Surf Club 2017 - $1803.50

Increase of 31.27%.

So this equates to increases of 5.59%. Lower but not drastically lower.

 

[tgropp]

Has it been confirmed that the BPT estimated budget with the 11% increase has been approved? I know the conversation is shifting towards historical MF trends but they should be based on approved amounts, not estimated.

I just got an email with a bill to pay that is $1,500.10 for Gold Season so yes, it has been confirmed. My Disney contracts are seldom over 3% and we all know how well the mouse loves money. Wonder what kind of rodent MVC has representing it. So disappointed with Marriott right now

 

[dioxide45]

I just got an email with a bill to pay that is $1,500.10 for Gold Season so yes, it has been confirmed. My Disney contracts are seldom over 3% and we all know how well the mouse loves money. Wonder what kind of rodent MVC has representing it. So disappointed with Marriott right now

That would lead me to think that they did not vote to waive fully funding the reserves? If so, it would lead me to beleive that MVCI didn't want to waive since they likely hold the voting power in the trust.