I've been a bi-annual owner since 2009 and have watched my annual maintenance fee on my 1BR junior suite grow from $510 to $775. Shame on me for never paying attention, but based on recent dealings with this place I decided to pull my contract out and review the maintenance fee stipulation ... here it is .... verbatim ...
in the SEVENTH clause ... "The regular fee for the first year shall be in the amount of 510.00 US cy, which may be increased in the subsequent years based on the consumer price index rate of the United States, with a maximum increase of 10% annually.
Please note it states "maximum increase of 10% annually" ..... NOT "minimum increase of 10% annually". This was very important to me when deciding to purchase this timeshare as I did not want escalating maintenance costs.
So then I decided to get the CPI from January of every year since 2009 to find out what the true % increase was (I knew inflation was fairly minimal) ... here's that info ...
CPI CPI chg % Change
Jan-09 211.933
Jan-10 217.488 5.555 2.55%
Jan-11 221.187 3.699 1.67%
Jan-12 227.860 6.673 2.93%
Jan-13 231.641 3.781 1.63%
Jan-14 235.436 3.795 1.61%
Jan-15 234.954 -0.482 -0.21%
Jan-16 238.107 3.153 1.32%
total 11.52%
So ... in my mind my maintenance fee should not have increased much more than 10-12% TOTAL since 2009.
I have already requested a detailed accounting from them, given this information, as to how they arrived at going from 510 in 2009 .... to 565 in 2011 ... to 615 in 2013 to 685 in 2015 to 775 in 2017.
I'll keep you posted .... check your contracts folks!
in the SEVENTH clause ... "The regular fee for the first year shall be in the amount of 510.00 US cy, which may be increased in the subsequent years based on the consumer price index rate of the United States, with a maximum increase of 10% annually.
Please note it states "maximum increase of 10% annually" ..... NOT "minimum increase of 10% annually". This was very important to me when deciding to purchase this timeshare as I did not want escalating maintenance costs.
So then I decided to get the CPI from January of every year since 2009 to find out what the true % increase was (I knew inflation was fairly minimal) ... here's that info ...
CPI CPI chg % Change
Jan-09 211.933
Jan-10 217.488 5.555 2.55%
Jan-11 221.187 3.699 1.67%
Jan-12 227.860 6.673 2.93%
Jan-13 231.641 3.781 1.63%
Jan-14 235.436 3.795 1.61%
Jan-15 234.954 -0.482 -0.21%
Jan-16 238.107 3.153 1.32%
total 11.52%
So ... in my mind my maintenance fee should not have increased much more than 10-12% TOTAL since 2009.
I have already requested a detailed accounting from them, given this information, as to how they arrived at going from 510 in 2009 .... to 565 in 2011 ... to 615 in 2013 to 685 in 2015 to 775 in 2017.
I'll keep you posted .... check your contracts folks!