2012 MF's

[AMJ]

Cypress Harbour Sport Week


CY*6723*47 2012 Operating Fee $634.29
CY*6723*47 2012 Reserve Fee $285.00
CY*6723*47 2012 Property Tax Fee $77.48

Total amount $996.77

 

[Bunk]

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%

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.

 

[pwrshift]

[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.

Just the thought that Marriott tried to slip in this dirty underhanded voting change in the beginning (or anytime) was enough to keep me and many others from joining. Once I made the decision not to join I didn't keep up on the DC crap and could again sleep at night. Because so many unsigned owners don't even vote, Marriott probably has enough votes to overwhelm any 'dump Marriott' vote anyways...but it still doesn't make them good guys in my book as the annual raising of MF far more than the inflation rate (or pay raise percent) is disgusting. We own nothing and have to pay more for it.

 

[minoter]

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

 

[SueDonJ]

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

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?

 

[fizzysoup]

Phuket Beach Club

Correct Bazzap,

The original proposal was for a 4.64% increase for 2012 which included a 25% increase in the Reserve Fund for 2012, dropping to a 10% increase for 2013 & a further 10% increase for 2014. However after some discussions it was agreed that Management would look to smooth out the increase in Reserve Fund across the 3 year period to 15% year on year. Thus it was possible to reduce the overall MF for 2012 to 2.84%.

As you know the PBC has undergone a significant refurbishment this year, and soft furnishing should be good for another 5 years.

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.

 

[RBERR1]

CYPRESS HARBOUR SPECIAL WEEK

Fiscal Year Description Due Date Amount Due
2012 Operating Fee 2012-01-11 634.29
2012 Reserve Fee 2012-01-11 285.00
2012 Property Tax Fee 2012-01-11 93.94
Total Charges $1013.23

5.4% increase on 2011

Interesting property taxes increased almost 16%

 

[MOXJO7282]

Kauai Beach Club nice 5.92% reduction!!

2BDRM OV

2012
Reserve Fee - 214.80
AOAO Operating Assessment - 603.97
Property Tax Fee - 93.13
Operating Fee - 551.96
Total Charges $1569.54

I don't have the breakdown from 2011 because I bought this unit only late last year but the total was $1663. Don't believe it included any special assessment. If no assessment, this represents a 5.92% ($93.46) reduction in maintenance fees.

Awesome!!

 

[RBERR1]

Sunset Pointe MF

Interval Description Due Date Amount Due

Reserve Fee 2012-01-18 $253.94
Property Tax Fee 2012-01-18 $64.06
Operating Fee 2012-01-18 $662.21

Total amount $980.21

6.2% Increase

 

[sparty]

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?

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.

 

[jimf41]

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.

 

[GregT]

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 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

 

[winger]

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

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.

That said, not too surprising to see the increase.

 

[aka Julie]

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.

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.

 

[SueDonJ]

... 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.

Yep, I'm waiting on Barony and SurfWatch as well. Looking through the 2011 MF thread it looks like Barony's came out last year on 11/15 and SW's on 11/26.

I thought when this thread started that it seemed so early for MF bills to be out. Then TUGger minoter explained that the BeachPlace fees that were posted were actually not official but only the proposed budget from Marriott. That made me wonder if any of the other early postings in the thread could also be proposed and not yet official? I dunno. Before this thread I didn't even know that some resorts released the proposed Marriott budgets - from Barony and SW I've only ever gotten the official budgets after the boards approved them.

 

[AMJ]

You can view the 2012 Operating Budget for Barony by clicking on the View Maintenance Fee Packages and Inserts link instead of the Check Status/Make a Payment.

 

[SueDonJ]

Thanks, AMJ. I'm seeing the budgets for both Barony and SW now where I wasn't seeing them earlier.

*********

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)

 

[sparty]

Thanks, AMJ. I'm seeing the budgets for both Barony and SW now where I wasn't seeing them earlier.

*********

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.

 

[SueDonJ]

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.

 

[RBERR1]

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.

 

[SueDonJ]

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.

It's interesting how this is probably the number one issue where the majority ownership will most likely act in such a way that they'll be supporting Marriott's stance rather than the individual resort BODs', despite the fact that they're at odds with each other. Marriott uses the MRP relationship to sell its timeshares and they're not wrong - using the Marriott VISA for all charges related to the timeshares really is beneficial to owners. But the BOD's stance is correct as well - if ALL owners paid MF's with cash then they could be better served, financially at the individual resorts' level, by forfeiting any MRP benefits.

It's not something I have to think twice about, though. I want those points.

 

[potchak]

Waiohai EOY Platinum 2nd Island view:
Fiscal Year Description Due Date Amount Due
2012 AOAO Operating Assessment 2012-01-18 230.60
2012 Property Tax Fee 2012-01-18 83.20
2012 Operating Fee 2012-01-18 392.13
2012 AOAO Reserve Assessment 2012-01-18 22.37
2012 Reserve Fee 2012-01-18 84.34
Total Charges $812.64

 

[potchak]

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)

 

[SueDonJ]

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)

It's not up yet on the OceanWatch page at my-vacationclub.com. (Anybody can check any resorts' Operating Budgets by signing in and clicking through the "Resort Search" prompts. When you get to the page for a particular resort, click on the "Weeks Owners" tab and scroll down for the list of financials.)

 

[rsackett]

Harbour Point week 32

...................................2012 ............... 2011
Replacement Reserve..... 335.80 ............ 318.68
Operating Fee .............. 686.40 ............ 671.11
Property Tax Fee ........... 56.73 .............. 55.91
TOTAL .......................1078.93 ............1045.70

3.18% increase

Ray