BEACHPLACE TOWERS PROPOSED BUDGET FOR 2012 - PLATINUM
COPIED IN PART:
Administration up 12.2%
Front Desk up 20.8%
Maintenance up 12%
Management Fee up 15.4%
Pool Maintenance up 13.1%
Refuse Collection up 25.2%
Garage parking up 65.6%
Net operating fee up 10.5%
Reserve Fee up 13.4%
Property Tax down 32.4%
Owner Services fee up 3%
[eta] I'm not yelling at you, Brian, with the bolding. It's just that this has been mentioned several times in different threads since that first notice but folks still seem to be under the wrong impression.
Has anyone seen the formula being used to determine how much additional money the Destination Club pays the HOA when the Unit is rented for less than one week.
Bunk,
At BeachPlace, we have asked to see the calculation and expect it to be presented to us at tomorrow's BeachPlace finance committee meeting.
Eric
We have not seen the detail yet, but the Phuket Beach Club MFs for 2012 will have a 2.84% increase.
As we understand inflation in Thailand is running at 4.1% and the minimum wage is due to rise by 50%, this seems to show well managed financial control.
We wish this was reflected across all our the resorts where we own weeks.
Weeks have always been available for nightly rental through marriott.com. Has Marriott historically paid the resorts for those related fees, and given the HOA's the formula they used for them?
Trust MF's were way higher than weeks fees to begin with so maybe they didn't have to hike them up as much. Actually I'm surprised they raised them at all. They are not helping sales with that decision.
I was assured by several sales reps (two at Corporate in Orlando) right at the launch of the DC that the Trust MF's are likely to stay stagnant for several years to come...if I recall correctly, their rational was Marriott built in enough "buffer" and due to good planning.I was very surprised to see the increase in Trust MFs. I recall early on I did a guesstimate based upon the original Trust properties and the related MFs, and thought the MFs averaged about $0.36/Trust Point. I thought this gave Marriott a little bit of time before the MFs were raised, but it happened more quickly than I expected.
This may also be a reflection of the inclusion of Ritz properties and Grand Chateau properties, helping pulling up the MFs. But next year is probably looking like $0.42, then $0.43, then.....
We will see.
Best,
Greg
Was there any response from the finance committee? Overall (not just short stays), looks like the trust MF went up by 1 cent, about a 2.5% increase, where just eyeballing it here most MF have increased 4-6% (counting those <= 0% too).
Trust increase is 2.5%, most week owners 4-6%? Is Marriott trying to send a message, trust MF's hikes much lower than week owner hikes? Buy trust points to save in MF's?
Not all data is in. Barony I haven't seen but the meeting was Oct 28. I was hoping (expecting?) Barony BOD would at least post on-line the approved 2012 budget/MF.
... Not all data is in. Barony I haven't seen but the meeting was Oct 28. I was hoping (expecting?) Barony BOD would at least post on-line the approved 2012 budget/MF.
As I recall, last year Barony posted their MF really, really late which cut down on the time to pay the bill. I hope they're a little more prompt this year.
Thanks, AMJ. I'm seeing the budgets for both Barony and SW now where I wasn't seeing them earlier.
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2012 Barony Beach Club
$800.00 Operating Fee (including $95.41 Property Tax)
$235.00 Reserve
$1,035.00 Total
(2011 - $665.14 Oper, $94.86 Tax, and $240.00 Res = $1,000.00)
*********
2012 SurfWatch 3BR
$993.81 Operating Fee (including $81.59 Property Tax)
$214.28 Reserve
$1,208.09 Total
(2011 - $883.60 Oper, $79.39 Tax, and $204.08 Res = $1,167.07)
*********
2012 SurfWatch 2BR
$855.23 Operating Fee (including $70.21 Property Tax)
$184.40 Reserve
$1,039.63 Total
(don't know 2011 figures)
They were not there earlier today. Some enterprising individual maybe helped get them there.
You and I must have been checking at the same times; you're right, they weren't there until sometime last evening. Not sure it took an enterprising individual to get them there, though - it seems like the folks at my-vacationclub.com are just uploading them as they're coming in from the resorts. Still no invoices for Barony and SW yet but those should be up soon.
Now about the pleas that we don't use credit cards to pay our MF bills - this is one campaign I just can't support. My combined MF and Club Dues payments net over 30K Marriott Rewards Points and 1 Elite Night, and I'm not willing to give that up. I'd be happy to make cash payments if the resorts could work with Marriott to come up with some creative alternative that would still give us the same Marriott Rewards credit/status, but as long as our choice is either one or the other, I'm staying with the Marriott VISA benefits.
I agree with you. Maintenace fees are a lot of cash especially if you own more than 1 timeshare and you get good Marriott Visa benefits for putting them on the card. Its also easy because you don't have to worry if you own and you live abroad.
Anyone know about Oceanwatch yet? I am still waiting for my Silver week to be loaded into my account (closed on it July 16, and still waiting to be recognized)