Daily Management, Inc -Resort Property Management Company

[AuntFrahn]

While I was searching for information on a possible rate increase for my maintenance fees at GrandView Las Vegas, I came across this company: Daily Management, Inc.

They have an agreement form for this resort and many others.

I was wondering if anyone has heard of them.

Looked at their site for more information as to fees, etc., but didn't find anything, yet. Just sent a message asking for details.

I'd rather sell my timeshare, but if I could get some of my money back renting - with no hassle - then that could work, too.

Thanks for your help.

 

[LannyPC]

I've never heard of them but I am unclear as to what you are hoping to accomplish by using this company.

Is this company charging an upfront fee? Is it promising to rent out your TS (or sell) for an unreasonably high return? Did you get an unsolicited phone call from them? These are usually signs of a scam.

If you are looking to rent out your TS, any agent that helps you will take its cut out of the proceeds of the rental and not upfront.

 

[Ty1on]

I've never heard of them but I am unclear as to what you are hoping to accomplish by using this company.

Is this company charging an upfront fee? Is it promising to rent out your TS (or sell) for an unreasonably high return? Did you get an unsolicited phone call from them? These are usually signs of a scam.

If you are looking to rent out your TS, any agent that helps you will take its cut out of the proceeds of the rental and not upfront.

It's the company that manages Grandview.

Maintenance fees typically increase every year. If I recall, I think Grandview increased about 3% this year.

Auntfrahn, are you considering renting through them? They keep 39% of rental proceeds. If you have a super week, it might pay the maintenance fees. Otherwise, Las Vegas is an overbuilt market and I wouldn't expect it to pay for itself year after year.

 

[tschwa2]

Daily Management is the management arm of Vacation Villages. They do not rent out weeks or days for owners. You can pay your MF and read your association documents through links on the http://www.dailymanagementresorts.com/index.aspx page. You have to register and log on to see the information- top right corner.

 

[AuntFrahn]

Could have sworn I read that they were not affiliated with GrandView. Must have been something else I was looking at.

I'd like to sell it because we don't need it anymore. It's kind of obvious now after reading all of this, that we will never get our money back.

The maintenance fees are about $121 a year, but just got a notice that we owe $6.00. Guess it went up.

The management company just replied which prompted me to look for responses here. In the message they do state that the resort takes a 38% commission. It looks like they do rent units for owners.

Don't know how much of a hassle it is to go through the rental process. Even a little bit will help, though.


Here is the quote from the management company:
"***Thank you for your email - please find attached our rental agreement to our owners. Please let us know if you need any further clarification in regards to the rental program.

Please bear in mind as the owner we advised that you follow up on your rental contract and that we cannot guarantee how many night a unit will rent for. Also, the resort cannot guarantee your unit will rent for the full 7 nights, nor can we guarantee what the unit will rent for. The resort takes 38% commission and travel agency fee from any rental secured. The remaining 62% that you receive from your rented unit can either be applied towards your maintenance fees (we need a letter included with the rental agreement stating this signed by all parties on the contract) or a check can be issued to you. If you change your mind about putting your unit in the rental program and wish to bank your unit you must contact the resort 14 days prior to your deeded week.
Rental checks are typically sent out around the 25of the month following the ending month your unit was rented for.

In order to place your unit up for rent you have to be a US citizen with a US Social Security number for tax purposes. If you don't have a US social security number a charge of 30% nonresident tax will ensue. You may apply with the Internal Revenue Service of the United States to receive a portion of this rental returned. Their website is www.irs.gov. If you do not want to obtainan ITIN number you may submit the Rental Agreement, but an additional 30% will be taken per the IRS."

It worked OK for a couple of years when I was only using points and last call or extra vacations. Actually, I can keep RCI for that.

So, basically, I want out of GrandView.

Is there a way to do that without paying out more money?

I do really appreciate all of your help.

 

[TUGBrian]

should be able to easily give away your grandview interval assuming its paid off.

what efforts have you made to give it away sofar? contacted the resort to see if they will take the interval back?

 

[AuntFrahn]

should be able to easily give away your grandview interval assuming its paid off.

what efforts have you made to give it away sofar? contacted the resort to see if they will take the interval back?

It is paid off.
I have called the resort and they don't deal with buying it back. Just gave me info that I found here about being very careful. Get a good real estate agency.

Contacted a real estate agency noted here, but they don't deal with that resort.
Another person wrote saying they were referred by that first agency. I responded and nothing back from them.

I don't believe I actually asked if they'd take it back, though.

I read the items in the Marketplace. Pretty much a giveaway from what I'm seeing.

Then, there would be closing costs, etc which I need to research. I imagine there would be. I don't want to pay any more.

Thanks for your quick response.

 

[tschwa2]

With the MF you owe, it looks like you own an every third year one bedroom. It isn't going to have any resale value. No legitimate broker will sell it because they usually have a minimum commission after it sells and it would never sell for enough to cover the commission.

If you want to get rid of it you will need to know exactly what you own and will have to give it away. Depending on the week and if it is in points, you may be able to give it away with $0 out of pocket for you. On the other hand a less desirable week may require you to pay the closing costs (around $150), the transfer fee ($250 I think) and possible some prepaid MF as well.

 

[AuntFrahn]

With the MF you owe, it looks like you own an every third year one bedroom. It isn't going to have any resale value. No legitimate broker will sell it because they usually have a minimum commission after it sells and it would never sell for enough to cover the commission.

If you want to get rid of it you will need to know exactly what you own and will have to give it away. Depending on the week and if it is in points, you may be able to give it away with $0 out of pocket for you. On the other hand a less desirable week may require you to pay the closing costs (around $150), the transfer fee ($250 I think) and possible some prepaid MF as well.

No, I do own one week every year.

Contacted the management company with the thought I could rent it out.

Since it's points, I had to call RCI to get a confirmation # for my week. BUT, must do that within 12-13 months before the week. My week is 16 - in April - so I cannot get that listed for 2016. If I want to do that beforehand, I would have to pay the exchange fee----with no guarantees.

Just talked to the people at Sell My Timeshare Now who I listed my Lifestyle Holiday Vacation Club membership with 2 years ago. I have reduced the sale price - my ad is here, too - but no interest, yet. I am at the lowest sale price now, but I'm not holding my breath.

They did say that my contract also does rentals. Will have to look into that.
It really is a lovely resort.

I think I was transferred to them from another company in the hopes I would sign a contract with Sell My Timeshare Now for the Grandview which is not going to happen.

Is there history here on this site where I can research sales? Wondering if these timeshares actually sell.

Thanks so much for your input

 

[scootr5]

Wondering if these timeshares actually sell.

For most resorts and weeks, "sell" would mean a few hundred dollars at best. There are some exceptions of course, such as Disney, some Marriott/Starwood/HGVC, and specific high demand weeks or units at various resorts.

 

[AuntFrahn]

For most resorts and weeks, "sell" would mean a few hundred dollars at best. There are some exceptions of course, such as Disney, some Marriott/Starwood/HGVC, and specific high demand weeks or units at various resorts.

Thanks for your input

 

[tschwa2]

I am not trying to make this into an ad, just want to make sure you know what you own when you advertise. How many points do you get each year?

The MF for a 2 br is just under $799, a 1 br would be around $350. A one bedroom in April should get 49,000 points annually. If you get less you own a one br eoy or one br triennial but get 1/3 of the points annually.

 

[Ty1on]

I am not trying to make this into an ad, just want to make sure you know what you own when you advertise. How many points do you get each year?

The MF for a 2 br is just under $799, a 1 br would be around $350. A one bedroom in April should get 49,000 points annually. If you get less you own a one br eoy or one br triennial but get 1/3 of the points annually.

Her MF indicates a 1 BR tri

 

[tschwa2]

That's what I said (1 br triennial) but this was her response.

No, I do own one week every year.

 

[AuntFrahn]

I am not trying to make this into an ad, just want to make sure you know what you own when you advertise. How many points do you get each year?

The MF for a 2 br is just under $799, a 1 br would be around $350. A one bedroom in April should get 49,000 points annually. If you get less you own a one br eoy or one br triennial but get 1/3 of the points annually.

Yes, you have it right. I hadn't realized that was what that was all about.
MF was 116 and went up to 127. It is a triennial and the points are 16,333 per year.

Not worth much, but then again I didn't pay what they were originally pushing.

Thanks for clearing that up.
You have been a big help.

 

[AuntFrahn]

So, I don't really own a week every year?

When I speak to customer service people, that is the impression I got.

Maybe that is what I had in my head and when talking with them, I didn't get the importance of triennial.

Oh, well, stuck unless I can give it away without putting out more money.

Will re-read everything again.

This is a great forum

 

[yoboy pres]

The way that the points are deposited is 16333 every year for tri-annual

 

[tschwa2]

So every 3 years you would have enough points to book a 1 br, or if you book your week during the home priority time 13-12 months in advance, you wouldn't get points for 3 years.

The only problem with what you own is you get so few points and can't book a lot but you pay the same RCI fees as someone who owns and uses it much more. Your type of ownership is good if you want access to points inventory and have other weeks that aren't at points resorts that you want to use as points for deposit.

 

[AuntFrahn]

So every 3 years you would have enough points to book a 1 br, or if you book your week during the home priority time 13-12 months in advance, you wouldn't get points for 3 years.

The only problem with what you own is you get so few points and can't book a lot but you pay the same RCI fees as someone who owns and uses it much more. Your type of ownership is good if you want access to points inventory and have other weeks that aren't at points resorts that you want to use as points for deposit.

I really didn't want to buy in. The first several hours were a nightmare and we threatened to walk out. That woman was nasty. Then at the end we talked to another 'kind old guy' and told us about this cheap buy in plan. I just didn't get what the points thing was all about because I was basically refusing to pay attention. I should have stuck to my guns and not done it. My own fault. We made the decision together.

However, I did use points to get a unit in Lake Havasu City for a specific time period when I couldn't find anything else there. And I borrowed against 2016 to get five days in SD. So, I used my points and essentially got those places for the price of the exchange fee. Hopefully, I can continue to get deals like that. I looked at it as if I was finding an advertised extra vacation deal when those places wouldn't be 'on sale'.

Today, I tried to find a way to search by points, but didn't have much luck.Being retired, I'm not tied to a schedule so I could look around for deal.

I have not paid full price for anything, yet. Just take advantage of the extra vacations or the points mentioned above.

We have a new travel trailer which we will use most of the time, but if something comes up where we cannot use it, this would be a good backup plan. However, that did not work this summer after the time in SD when we went to Cody, WY. There are no resorts anywhere near there, so we used VRBO to rent an apartment for a week. That was not cheap, but better than a motel for a week.

Another silly question. If we manage to sell or give away, then do the buyers expect our RCI membership???? How do they get one if they don't have RCI? What does that do to my membership? I really do have some kind of mental block about timeshares. Always swore I'd never own one, but here I am.

Thanks again for all of your time and input.