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Brewster Green news

SailBadtheSinner

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In the recently received newsletter for the Notice of the Annual Meeting, it is mentioned that a new policy has been established for owners who wish to surrender their ownership. The Association will take the deed back with the payment of 2 years maintenance fees. There was no mention of transfer fees.

Also, the Board has looked at an affiliation with a points base club (TLC Club) which will be utilizing non-performing weeks (weeks owned by the Association and delinquent inventory). They are assuming this will provide a much needed income stream.


SBtS
 

theo

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In the recently received newsletter for the Notice of the Annual Meeting, it is mentioned that a new policy has been established for owners who wish to surrender their ownership. The Association will take the deed back with the payment of 2 years maintenance fees. There was no mention of transfer fees.

Also, the Board has looked at an affiliation with a points base club (TLC Club) which will be utilizing non-performing weeks (weeks owned by the Association and delinquent inventory). They are assuming this will provide a much needed income stream.


SBtS

Thank you for this interesting information, "hot off the presses". ;)

FWIW, I believe that "transfer fee" is determined by VRI (i.e., not by the underlying resort) at VRI-managed properties (such as Brewster Green). When I sold off a week at a VRI-managed facility just a few months ago, the transfer fee imposed (by VRI, not by the resort) was $100, although VRI did not charge for estoppel issuance.

I hope that the Brewster Green BoD looks long and hard at TLC Resort Vacation Club, while wide awake and with both eyes open. I don't own at BG but I'm nonetheless very wary of some of the TLC (...ahem) "affiliations", such as with "sister company" Timeshare Liquidators, to cite just one very specific example of potential concern.
 
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WinniWoman

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In the recently received newsletter for the Notice of the Annual Meeting, it is mentioned that a new policy has been established for owners who wish to surrender their ownership. The Association will take the deed back with the payment of 2 years maintenance fees. There was no mention of transfer fees.

Also, the Board has looked at an affiliation with a points base club (TLC Club) which will be utilizing non-performing weeks (weeks owned by the Association and delinquent inventory). They are assuming this will provide a much needed income stream.


SBtS

This is the same company that has taken 500 units at Pollard Brook that I posted about. Interesting....
 

SailBadtheSinner

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I didn't know what the TLC Club was, and Googled it. I was extremely disappointed when I saw the negative results from the Google search :(. I sure hope the Board knows what it is doing. I would hate to see the Brewster Green's good name tarnished by association with TLC.


SBtS
 

e.bram

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The TLC member probably don't have to worry about the school calendar which could absorb some nonprime season weeks.
 

silentg

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Does this mean they will no longer be a VRI or RCI resort that we can trade into?
 

theo

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Does this mean they will no longer be a VRI or RCI resort that we can trade into?

VRI is just the management company currently under contract. Any management company can be replaced by the BoD at any facility upon contract term expiration or at any other time before then "for cause" (contract terms non-performance). That being said it is very rare indeed for a U.S. facility managed by VRI to actually drop VRI.

Brewster Green, AFAIK, is dual affiliated with both RCI and II. It would be unlikely for those affiliations to change, but the available exchange inventory could very well shrink if TLC acquired multiple weeks and squirreled them away for "club member access only", as opposed to banking weeks with either or both of the exchange companies. Owner deposits (i.e., non-TLC owned weeks / deposits) into either one of the exchange companies would not be affected in any way by anything TLC acquires or does.

Interesting situation, whose developments are worth closely monitoring. I hope that the Brewster Green BoD is not asleep at the wheel and about to be hoodwinked. :ponder:
 

silentg

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They must be in a financial situation? Owners not paying Maintenence fees? Nice place, I hope to stay there again?
 

e.bram

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It will not affect the prime exchange inventory, since those owners use or rent. The do not deposit. Who cares what it does to the dog exchange inventory, the HOA are getting MFs.
 

theo

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They must be in a financial situation? Owners not paying Maintenence fees? Nice place, I hope to stay there again?

Having once lived year 'round on the lower Cape for a few years, I can tell you with some certainty that it's a pretty desolate place in the dead of winter.
Beautiful certainly, but undeniably desolate nonetheless.

While 3 of 4 seasons are decent in terms of both demand and resale value, I suspect that there are plenty of "non-performing" (and / or HOA owned) winter weeks at Brewster Green. The BoD may well be looking for a cash boost and this is apparently one avenue they are examining. I just hope the BoD does its' homework and due diligence before getting too cozy with an outfit apparently having a "sister company" called Timeshare Liquidators. :ponder:
 
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Maple_Leaf

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Hapimag

tonyg

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It will not affect the prime exchange inventory, since those owners use or rent. The do not deposit. Who cares what it does to the dog exchange inventory, the HOA are getting MFs.

Generally owners of a resort get an internal trade preference, so if that is exercised, it could have a great impact on availability.
 
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