I am at Sheraton Vistana Villages and was just told these reserves are for all condos in the country not just Florida . So all our maintenance fees will go up. Is this true?
Each resort establishes their own reserve and maintenance fee budget.
I am curious regarding who pays for the concierge. They offer some support in answering questions and making reservations, but their primary purpose is to generate sales presentations. Do Owners pay their salaries?
They are saying that the new law applies to all not just those in Florida
That isn't true. The law in question is a Florida law.
That’s what I thought. I told them no I was not given up any deeds outside of Florida . That’s their new angle at scamming now.
That would only be true if it were a federal law, but the laws regarding reserve funding for timeshare and condo associations are state by state. It would be unconstitutional for one state to pass a law and say that it is binding on other states.
Well, we don't know if it is or isn't going up for deeds outside Florida. As noted in another thread, the maintenance fees will go up at other resorts, as will the reserve fees. Fees almost always go up. I doubt there will be any that go down this year.
Apparently they've done it with Sales Tax. Otherwise I agree, when it comes to real estate, laws are on a state by state basis. Thus why we will never see federal consumer protection laws as it relates to timeshare.
I was under the impression they were going up significantly because of the reserve situation .
In what sense?
South Dakota vs. Wayfair.
I've noticed these inconsistencies too. Our two Marriott weeks (Grande Vista and Harbour Lake) both show the comparison to the prior year where our two Sheraton Vistana Villages weeks do not. I don't know or understand the reasoning for this. Perhaps it has something to do with the number of units?
I'm not sure I'd say that the Feds imposed anything, so much as they ruled when States could legally charge it. The States still set the rules on how much, and what qualifies.
I was more or less replying to this below. Not necessarily federal laws, but apparently the US Constitution supports it.
The sales tax thing has to do with doing business in the taxing state, like internet sales to a resident. It's not generally binding on other states or people in other states that are not doing business in or with the taxing state. It's not the same as passing a law in Florida and saying that every timeshare in the whole country has to follow this even if they're not doing business in Florida.
WOW, JUST WOW ...... that's some jump.
The problem is that this is not a victimless action. When you obtain something for virtually nothing, any profit you can make from it becomes significant and this allows Marriott rent units at a (much) lower rate, and that includes non-owners who come to attend sales tours paying a very low rate. Owners suspect that non-timeshare owners are more inclined to neglect the property, create disturbances like noisy music, leave behind litter, and fail to supervise children, among other concerns. Consequently, we not only shoulder the financial burden of routine wear and tear, utilities, housekeeping (probably daily!) labor costs etc, but are also burdened with issues probably uncommonly associated with regular patrons (owners and exchangers).
An owner has already paid a maintenance fee for that unused booking. So the resort has received compensation to cover costs. The owner who fails to reserve is the one that loses out.
28% increase last year for WSJ Sunset Bay. If 15% holds, that’s a 43% increase over 2 years. That’s not sustainable. I would expect delinquency to spike as that’s significantly above the rate of inflation.
I should have been more precise - that's VGV. $3,184.15 for a 1 BR, $2,388.02 for a studio.
