2025 Maintenance Fees Discussion

[VacationForever]

I am sorry for creating the confusion. I just saw Maintenance Fees Discussion and responded to that. It did not say it was a Marriot discussion. I did not scroll up far enough to see it was Marriott because I saw people who post on Wyndham. We are having the same discussion about Florida and maintenance fees going up on those who own Access.

This thread is in the Marriott Vacation Club / Abound forum.

 

[jwalk03]

This thread is in the Marriott Vacation Club / Abound forum.

Sometimes if you are viewing on a phone or whatever it may not be all that obvious which forum you are reading. It happens.

 

[jwalk03]

I got the proposed budget for Willow Ridge today in the mail. The proposal is a 5.6% increase over last year.

 

[gln60]

I got the proposed budget for Willow Ridge today in the mail. The proposal is a 5.6% increase over last year.

How much money is the 5.6% increase?

 

[jwalk03]

How much money is the 5.6% increase?

$93.91

 

[gln60]

Sounds reasonable after last years large increase.

 

[jwalk03]

Sounds reasonable after last years large increase.

Certainly better than last years 10%+, but still a substantial increase.

 

[rickandcindy23]

I agree that it is a big increase.

 

[dioxide45]

When the numbers get high, even a 5% increase is a lot of dollars.

 

[Superchief]

When the numbers get high, even a 5% increase is a lot of dollars.

This is double the proposed increase for Social Security payments. MVC management needs to realize that many owners will no longer be able to keep their timeshares if these increases aren't better managed.

 

[Red elephant]

I got the proposed budget for Willow Ridge today in the mail. The proposal is a 5.6% increase over last year.

That’s too much considering what just happened.

 

[dioxide45]

That’s too much considering what just happened.

What happened?

 

[Red elephant]

What happened?

The large MF increases for the past 2 years. They need to take a chill pill with these increases. 5% is a lot after the increases of last year. Unless this is on purpose to force people to give back their weeks.

 

[LeeSoFL]

Maintenance Fees (point/beneficial interest) for 2025, due by the end of the 2024 calendar year are:

.81480 per point
203.70 per beneficial interest

For our 24,750 points (99 beneficial interests) is $20,166

I started paying a portion monthly.

 

[dansimms]

Maintenance Fees (point/beneficial interest) for 2025, due by the end of the 2024 calendar year are:

.81480 per point
203.70 per beneficial interest

For our 24,750 points (99 beneficial interests) is $20,166

I started paying a portion monthly.

I did the same thing on a recently acquired credit card with no interest for 15 months. So I actually started paying off my maintenance fees a few months early, since the money for me carries zero interest.

 

[billymach4]

Any news on Grande Vista?

 

[dioxide45]

Any news on Grande Vista?

We received an estimated budget. The Net Operating Expenses are estimated to be up 4.4%. The reserves on estimated budgets always shows based on fully funded reserves. Those are estimated +42.3% A lot will depend on the vote for fully funding reserves. It has been mentioned that 50% of all owners need to vote to waive in order for it to pass, not just 50% of those that vote. I don't see any mention of that in the communications we have received.

 

[Ski-Dad]

We received an estimated budget. The Net Operating Expenses are estimated to be up 4.4%. The reserves on estimated budgets always shows based on fully funded reserves. Those are estimated +42.3% A lot will depend on the vote for fully funding reserves. It has been mentioned that 50% of all owners need to vote to waive in order for it to pass, not just 50% of those that vote. I don't see any mention of that in the communications we have received.

If we fully fund reserves for the 2025 year, is it reasonable to conclude that the contribution to reserves should fall in 2026?

Once fully funded, it should only take 2024 level contributions (plus inflation) to stay fully funded?

 

[dioxide45]

If we fully fund reserves for the 2025 year, is it reasonable to conclude that the contribution to reserves should fall in 2026?

Once fully funded, it should only take 2024 level contributions (plus inflation) to stay fully funded?

I am not sure I can really answer. But fully funded just means they are contributing enough each year to pay for the replacement at the end of the life of the item. So if something costs $1,000,000 to replace and has a 10 year life, they need to contribute $100,000 each year.

 

[Ski-Dad]

I am not sure I can really answer. But fully funded just means they are contributing enough each year to pay for the replacement at the end of the life of the item. So if something costs $1,000,000 to replace and has a 10 year life, they need to contribute $100,000 each year.

If we are keeping pace at x % of full funding, it makes sense that same amount would keep us at 100% funded if we were 100% funded. BUT we need a one time infusion to get from x% to 100%.

The risk is one you get to $2300 on MF, they are not coming down even if the cause is $600 per unit catch up to full funding.

 

[LeslieDet]

If we fully fund reserves for the 2025 year, is it reasonable to conclude that the contribution to reserves should fall in 2026?

Once fully funded, it should only take 2024 level contributions (plus inflation) to stay fully funded?

Not necessarily. The factors include whether there is damage or other repairs or replacements required (out of the intended schedule) that will be paid for out of reserves, such that the category funds are depleted. Then, the reserve for that category will need to be replenished, based upon the useful life of whatever it was that was replaced.

 

[Ski-Dad]

Not necessarily. The factors include whether there is damage or other repairs or replacements required (out of the intended schedule) that will be paid for out of reserves, such that the category funds are depleted. Then, the reserve for that category will need to be replenished, based upon the useful life of whatever it was that was replaced.

That makes sense.

 

[Superchief]

I am not sure I can really answer. But fully funded just means they are contributing enough each year to pay for the replacement at the end of the life of the item. So if something costs $1,000,000 to replace and has a 10 year life, they need to contribute $100,000 each year.

I also am concerned that MVC management may waste some of the additional reserves to fund some of their pet projects rather than keep it in the reserves for future essentials.

 

[billymach4]

We received an estimated budget. The Net Operating Expenses are estimated to be up 4.4%. The reserves on estimated budgets always shows based on fully funded reserves. Those are estimated +42.3% A lot will depend on the vote for fully funding reserves. It has been mentioned that 50% of all owners need to vote to waive in order for it to pass, not just 50% of those that vote. I don't see any mention of that in the communications we have received.

I got this same letter in the USPS mail today. The cover letter on the first page recommends a "YES vote for waiver. However there are no ballot material or instructions how to cast a vote online?
Did you get any additional mail ? Usually it arrives in a larger envelope with ballot instructions and supporting documentation?

 

[dioxide45]

I got this same letter in the USPS mail today. The cover letter on the first page recommends a "YES vote for waiver. However there are no ballot material or instructions how to cast a vote online?
Did you get any additional mail ? Usually it arrives in a larger envelope with ballot instructions and supporting documentation?

I receive all my material via email. I got the email to vote the proxy over a month ago. This is a separate mailing than the one that includes the estimated budget.