Biennial contracts

[Smo1990]

First off, I want to thank everyone who has answered one of my gazillion questions about getting into this timeshare thing. You all have been so helpful and nice

I am “purchasing” a biennial odd contract and was curious about the program fees and how they work. I’m pretty sure the maintenance fees they’ve told me aren’t including the program fee BUT do I still pay that yearly with a biennial contract or is it just every other year?

Also, I plan to buy either an equal even year contract or a decent annual contract to offset that year. If I do that, so I pay a separate program fee for each contract or is it just one regardless of how many contracts I have?

Thanks again!

 

[ecwinch]

Yes, you pay the minimum program fee every year. The 2018 dues statement indicates it is $136 per year.

The fee is based on how many points you have. So it applies to every contract, but once the minimum is met, you pay the points rate on additional contracts.

PROGRAM FEE* RATE IS $0.58 PER 1,000 POINTS *Program Fee is determined by the Total Points Determining HOA Billing less Bonus Points (if applicable). Program Fee listed for each contract is for informational purposes only and is subject to change based on the total number of points assigned to the member.

 

[Smo1990]

Thank you so much!

 

[OutSkiing]

You pay the program fee every year on half the biennial points you own. My 308,000 biennial contract has program fee of $.58/1000 on 154,000 points per year. The regular maintenance fee is every year as well but at half the rate you'd be paying for an annual contract at the same resort.

Bob

 

[Smo1990]

You pay the program fee every year on half the biennial points you own. My 308,000 biennial contract has program fee of $.58/1000 on 154,000 points per year. The regular maintenance fee is every year as well but at half the rate you'd be paying for an annual contract at the same resort.

Bob

Thank you!

 

[bendadin]

I find that most MF do include the program fee in it. That being said, you don't know if the owner was above the minimum threshold or not. If resale, .56/1k if you don't own any developer contracts. If you do, .58/1k. So that quote might actually be high.

I have a couple of EOY. I ended up getting another low MF resort to match one of my resorts. I can't seem to find the other contract's odd mate, though. I did see one but through a vendor that I'd rather not do business with. It takes a lot of patience.

 

[Smo1990]

I find that most MF do include the program fee in it. That being said, you don't know if the owner was above the minimum threshold or not. If resale, .56/1k if you don't own any developer contracts. If you do, .58/1k. So that quote might actually be high.

I have a couple of EOY. I ended up getting another low MF resort to match one of my resorts. I can't seem to find the other contract's odd mate, though. I did see one but through a vendor that I'd rather not do business with. It takes a lot of patience.

I HOPE it’s the case that they have included it but I’m planning on it being additional and hope to have a good surprise when it’s not. Ha!

 

[Richelle]

Yes, you pay the minimum program fee every year. The 2018 dues statement indicates it is $136 per year.

The fee is based on how many points you have. So it applies to every contract, but once the minimum is met, you pay the points rate on additional contracts.

PROGRAM FEE* RATE IS $0.58 PER 1,000 POINTS *Program Fee is determined by the Total Points Determining HOA Billing less Bonus Points (if applicable). Program Fee listed for each contract is for informational purposes only and is subject to change based on the total number of points assigned to the member.

Typo, minimum $131 a year.

 

[Richelle]

This is what my billing for my biennial Bail Hai contract looks like. As stated earlier, you pay the program fee and maintenance fees of half your points every year.

 

[Smo1990]

Perfect! Thank you!