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Attn: Banff Rocky Mtn. Resort Owners

overthehill

TUG Review Crew: ELITE
TUG Lifetime Member
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Resorts Owned
WorldMark since 1998 - Stayed at WM 61 resorts so far, but slowing down
In October, you received the billing for the Special Assessment sent to you by Royal Host, the property management company. Hopefully you did NOT make any payment toward that Special Assessment.

Many BRMR owners have been emailing back an forth on this issue. I had my attorney review the Prepaid Vacation Package Agreement I signed seven years ago along with emails between Royal Host and me. He sent me an opinion which state in part, "Irrespective of the assertion of Ms. Lawlor in her email, there is nothing in Article 7, or anywhere in the Agreement, that authorizes the management company to unilaterally impose a special assessment."

Many owners have decided not to pay the special assessment as there is no basis for it in the agreement. The bigger question a BRMR owner must ask is why Banff Rocky Mountain Resort Ltd, the lessee, has not maintained the resort. Should owners find that they are blocked from useage of their week for failure to pay the special assessment or should II and /or RCI downgrade the trading ability of the resort, then a legal action may be required. After all, BRMR Ltd has had ample opportunity under the terms of the Agreement to collect adequate replacement reserves for the proposed rehab of the units. Had the reserves been set properly and the units been properly maintained all along, the special assessment would not have been attempted :mad: .

I don't think anyone disagrees with the need to maintain the resort but it should be done under the terms of the Agreement signed by all owners with BRMR Ltd.
 

barto

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I'd received a couple of notes from a particular person (Mark something) who was also questioning the special assessment with a legal opinion on it. There was a rebuttal by someone at Royal Host, and an admission by Mark's lawyer that there was grounds for this special assessment. From the sounds of it, if we don't pay the special assessment, we won't be allowed the use of our week (for exchanging or use/rental).

Bart
 

chris209

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Banff Rocky Mountain Resort-purchasing resale

I am considering buying a 2 bdrm unit (resale) but am concerned about what I have been reading here. It does sound like the units need renovating but if owners are refusing to pay the special assessments, what will happen to the renovation plans? Is this controversy going to slow things down considerably or put the resort in to any type of jeopardy? I was almost ready to purchase until I started to read these threads! Now I am thinking it might be better to wait and see what happens. Also, I guess if I was to purchase I will need to ensure that at least the 1st installment of the assessment has been paid? Any thoughts?
Chris
 
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