HOA holding the line against MF increases?

[WahooWah]

When someone comes to TUG, and wants us to "raise our voices and defend our ownership," it's usually because they are sales people. It will be interesting to see who you turn out to be.

Since you are located in Hawaii, I'm guessing sales, or perhaps a local reseller, or since you know 3 board members, maybe lower management. Aloha!

And it's interesting to me when you advise buying prospects that they shouldn't purchase at the home resorts and should either rent or buy at a cheaper resort and use StarOptions to make reservations at the 8 month reservation mark as if it is an effective cure-all for someone who wants to come to Maui every year and that owning at the home resort is never a good idea. I guess it is all just really "interesting". Please spare me your self-righteous witch-hunt nonsense.

 

[DeniseM]

Hmmm... Touched a nerve, I guess.

 

[Ken555]

Your contributions to the discussion so far have been conjecture, uninformed opinions, baseless accusations and a general sense of entitlement. I have not seen you present a single fact or a shred of thoughtful analysis to this topic.

Your response does not encourage a civil discussion about this topic. Your posts also ignores the thoughtful and detailed earlier post, and I find it unfortunate that your escalation of this discussion with personal attacks is necessary.

Without evidence to the contrary, it seems your bias is extremely pro management. Historically, that bias on TUG tends to indicate an employee or otherwise affiliated with the industry. Your refusal to comment further on the three purported board members you know personally only encourages our disbelief.

Of course, someone needs to purchase these timeshares from the developer, so don’t let us stop you from buying some...I hear there’s a time limited great deal so you should consider buying today!


Sent from my iPad using Tapatalk

 

[bizaro86]

I 'liked' the post from @LisaRex but I wanted to further that by saying a more comprehensive thank you. That is one of the best posts I've seen on Tug, potentially ever. It was thorough and thoughtful, and included citations.

I don't own at any of the Maui resorts (although I've been there a few times, either on packages or as a renter). I think the best thing owners there could do would be gather up those 13k names from the deeds and send everyone a printout of that post by lisarex, and ask them to contact their board about why their costs are so much higher.

My personal opinion, is that Vistana raises MF to approximately the usage value of the lowest season unit. As evidence for this, I comment that WKORV fees are lower than WKORVN which are lower than Nanea. WKORV is held down by the island view deluxe units, which are getting pretty close to zero value, imo. WKORVN is a bit higher because there are no outliers, and nanea is even higher because they assigned more maintenance to the ocean front units so they can get more money there without raising the MF on the resort view out of line with value. This pattern is broadly repeated across the portfolio, with low season units at most resorts worth ~0, but the MF increases always seem to stop there, and even though vistana doesn't do takebacks directly there aren't many units with a deeply negative value.

I'm not sure why they'd do that, maybe they use any money in excess of the actual expenses to purchase things from affiliated companies to pad their own bottom line. There was some discussion awhile back about what various resorts were spending on buying cable/telephone services from a Vistana owned company, as one example.

If anyone decides to actually do a mail out, I'd be happy to contribute something to the cost even though I wouldn't personally benefit from any changes.

 

[YYJMSP]

the other thing to consider is while MFs may have been flat over the last few years, they've basically doubled over the last 10yrs...

 

[DeniseM]

Here's the other thing: Vistana makes a percentage of the maintenance fee for managing the resort - they higher the MF is, the more they make.

 

[FamilyEsq]

Just an FYI. The Ritz Carlton Residences has similar/more luxurious 2 bedroom/2 bath lock-off condos for sale that have use of the Ritz hotel amenities. The Ritz Carlton Residences have a rental program whereby Owners can rent out the condo. The Ritz Carlton Hotel manages the check-in/check out of guests. The Residences also have a third party to manage rentals.

Monthly Maintenance: $3293.44

I am quite certain that the Ritz is still making money charging $3293.44 monthly.

http://www.luxuryrealestatemaui.com...al-estate-the-ritz-carlton-residenc-for-sale/

http://www.luxuryrealestatemaui.com...lton-dr-1221-23-kapalua-real-estate-for-sale/