Thanks for the update. It is good to know that the reserves are adequately funded and appropriate renovations and maintenance is being done..We attended the Bay Club Owners meeting yesterday. It was a big crowd of over 50 owners. Financials for the resort is healthy. Maintenance fee will increase approx 2%. Soft renovations will begin in August 2016 and will take 7 months. The mechanics of the elevators will be upgraded which is a big cost. It is fully funded by the reserve and no special assessment.
Owners do not have to pay the maintenance fee up front before making reservations as in the past. Trust owners will pay when billed since historically the receivable rate is in the high 90's.
What is the story behind that? Did hgvc drop the ball or something?The reserves should be adequate. About 4 years ago there was a big special assesment because there was inadequate reserves. Hoping this is a sign that the association is making sure that the reserves are sufficient.
What is the story behind that? Did hgvc drop the ball or something?
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As I recall the SA was in 2009, to bring the units up to HGVC spec, so it may have been when HGVC started managing or there was a contract update. Around 2008-2009 the economy tanked and with this SA there were a ton of Bay Club units being dumped on eBay, I picked up a 1br eoy for $299.
I'm wondering if the change in paying mf will allow the contracts to be added to an existing HGVC account now, when I owned there was a separate account because you had to pay mf before you could borrow points. Affiliates have separate accounts and rules but Bay Club has moved to into closer alignment with HGVC.
I remember when I first went there I met a few original owners that were not happy with HGVC taking over, they did not want to enroll and preferred trading in RCI. I suppose the balance has shifted now as the units have turned over to new owners because of the SA and shift to HGVC management.
There isnt ROFR at Bay Club.
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To the best of my knowledge, there is a ROFR at bay club, it just isn't ever executed (currently). This could change in the future.
Some EBAY adds now say that you have to enroll the unit into HGVC for new sales... if this is the case there are some significant changes that have been made and the "Affiliate" designation may have given way to full on HGVC... which is AWESOME (IMHO)
My wife and I just returned from our first visit to the Bay Club. We are new owners. We own a 2 bedroom. We were very pleased with the condition and size of the unit . Upkeep of the unit as well as the grounds were great. Everthing was very clean and the staff friendly.
My wife and I just returned from our first visit to the Bay Club. We are new owners. We own a 2 bedroom. We were very pleased with the condition and size of the unit . Upkeep of the unit as well as the grounds were great. Everthing was very clean and the staff friendly.
My wife and I just returned from our first visit to the Bay Club. We are new owners. We own a 2 bedroom. We were very pleased with the condition and size of the unit . Upkeep of the unit as well as the grounds were great. Everthing was very clean and the staff friendly.