I suspect most of you are going to think that I am nuts, but here it goes.
I am not thrilled with idea of having to pay a special assessment, but if it is going to make a noticable difference in the look and feel for me as an owner and increase the trade value then I guess I can live with it. All I can say is look at marriots maintenance fees, they are huge and you can see the quality in thier units. You get what you pay for. I just want to see a difference if I have to pay this.
I just found out about the special assessment yesterday when I wanted to reserve for 2010. Of course I had not received any notice about it yet, but I was emailed the letter. I'm Club Regina, bought 2nd hand, and of course have never received the contract I've requested from Mexico.
On the other hand, I've heard of special assessments on TUG from other owners/groups. It was not a total surprise but I agree with many that I was not surveyed (maybe reasons people give to not buy?) and have no insight into where the money goes. I will pay it, but will count it as an unexpected expense. One of the reasons I bought this unit was it was a RTU 2026 and I figured I invested into a 21 year experience, unless I sell on ebay first.
Our experience with Club Regina has been good. We've enjoyed all of the times we've visited, but Puerto Vallarta is our favorite. I saw the 'upgraded' suite they are planning to go to, and I thought it takes away a lot of the Mexican ambiance. The wireless in the room is something I will appreciate.
Here is the text of what I received via email.
June 2009
Dear Member,
You purchased your Membership to enjoy memorable vacations in high demand locations. At Raintree, our commitment is to deliver upscale resort properties to our Members. You have come to expect a certain standard from Raintree and we know that meeting that standard will help you enjoy your vacations more for years to come.
Over the years we have actively sought to keep your Annual Maintenance Fees as low as possible. Your maintenance fees cover the annual operating costs of the resorts and provide for emergency maintenance and other necessary capital projects. Unfortunately, continuously rising operating and energy costs have resulted in the deferral of various maintenance and upgrade matters that no longer can be nor should be deferred. Many of these deferred matters have been minor, but when viewed collectively, have not kept the resort properties at the standard that our Members desire.
These deferred matters include normal maintenance items, adding features that Members clearly desire, such as ‘in‐room’ wireless internet capability, and updating furnishings, bedding and kitchenware. Despite the fact that we have spent approximately $6 million on improvements during 2007 and 2008, the rooms and units require additional work to bring them to the standard that you expect from Raintree.
You have expressed your concerns and requests for improvement and we have taken your feedback seriously. Raintree has spent a considerable amount of time analyzing the specific items that need to be addressed immediately so that the resort properties and amenities will be at the standard that you expect and demand. We have derived a plan to address these matters but it has required a very difficult decision on our part on how to fund these needed improvements.
The decision we faced included either materially increasing your Maintenance Fees over the next few years, or a onetime assessment to our Members to fund and implement the needed improvements as soon as possible. The feedback we have received is that many of you want these improvements sooner rather than later so we have elected to have a Special Assessment.
We know the timing of this assessment is not optimal, but it never will be. Our Members overwhelmingly desire these improvements to our resorts now, so this Special Assessment is necessary for implementation.
Some of the improvements we plan to undertake are:
RAINTREE'S CLUB REGINA CANCUN
RAINTREE'S CLUB REGINA PUERTO VALLARTA
install wireless internet in units
install wireless internet in units
replace bedding in all bedrooms
replace bedding in all bedrooms
complete kitchen renovation
complete kitchen renovation
replace tile in shower areas with marble
insulate cold water pipes
replace all ceiling fans
beach security system (Buoy)
replace lounge chairs and cushions
swimming pool filter equipment
renovate Pool Bar and add improvements to Inizio Restaurant
new umbrellas for pool area
replace all pool area lounge chair cushions
RAINTREE'S VILLA VERA ACAPULCO
install wireless internet in units
RAINTREE'S CLUB REGINA LOS CABOS
replace bedding in all bedrooms
install wireless internet in units
replace ice machines
replace bedding as needed
paint building exterior
complete kitchen renovation
replace A/C thermostats in all rooms
refinish nightstands, coffee table and end tables
replace boiler and hot water tank
paint building exterior
purchase flat panel TVs for each unit
add marble top to all nightstands
reupholster furniture (all rooms)
in room safe for each unit
replace curtains (all rooms)
replace night stand lamp (all rooms)
replace lounge chairs as needed
replace all lounge chair cushions
In addition to the above, other items within this project include significant improvements to infrastructure at most resorts for preventative maintenance purposes as well as to continue to meet safety standards.
Included with this letter is your special assessment notice. Please read it carefully as you have choices on how to remit payment.
Sincerely
Douglas Bech
CEO, Raintree Resorts International, LLC
To contact a Raintree Vacation Guide, please call: 1.800.424.6532 / 317.805.9167