Does the board have the power to close a resort during corona if the governor opens hotels and resorts?

[owner1949]

Does the board have the power to close a resort during corona if the governor opens hotels and resorts?

 

[Luanne]

Does the board have the power to close a resort during corona if the governor opens hotels and resorts?

I would say yes. It's a private business, right?

 

[CalGalTraveler]

Yes. A private enterprise is just that and they allow or deny entry to their private property based on Terms of Service. A government cannot force a business to open.

 

[JerseyJim]

I am in the yes corner. The safety of employees, guests and owners is paramount at this time. We need to get through the rough patch at this time.

 

[tschwa2]

The decision of the board may also be based on not having the people to safely staff the resort due to illness, and/or voluntary or involuntary leave.

 

[Fredflintstone]

Yes. A private enterprise is just that and they allow or deny entry to their private property based on Terms of Service. A government cannot force a business to open.

I agree that the resort can choose to close longer. However, if they close and the owners cannot access their time, I suppose the right thing to do is issue 2020 MFs. No service, no money.

Or...

They can just forget 2021 MF in lieu. However, my guess is they will forward credit and still bill full 2021 MF. The problem here though is that you have to double up vacation time and perhaps cannot afford to do that and let the forward expire. In which case, they still pocket the MF and you lose your time and MF.

My other guess is that 2021 MF will go up a lot under the guise that sanitation costs more, lost revenues, etc. It will be interesting to see 2021 MF posts this year describing MF invoicing.


Sent from my iPad using Tapatalk

 

[Panina]

I agree that the resort can choose to close longer. However, if they close and the owners cannot access their time, I suppose the right thing to do is issue 2020 MFs. No service, no money.

Or...

They can just forget 2021 MF in lieu. However, my guess is they will forward credit and still bill full 2021 MF. The problem here though is that you have to double up vacation time and perhaps cannot afford to do that and let the forward expire. In which case, they still pocket the MF and you lose your time and MF.

My other guess is that 2021 MF will go up a lot under the guise that sanitation costs more, lost revenues, etc. It will be interesting to see 2021 MF posts this year describing MF invoicing.


Sent from my iPad using Tapatalk

Independent HOAs are not in the position to wave mfs. The taxes still need to be paid as are other expenses. I would also hope they are still paying the employees so when it is time to open again there is a good staff available.

I was just talking with my other half earlier today and we both realize our weeks this year and next might be lost even though we are paying mfs. Even if they open up, changing circumstance can make them close.

Whereas no one including me likes paying money for a timeshare we cannot use, it is the risk of owning. I own a studio coop in a NYC borough and obviously I am not going there. I still have to pay my monthly maintenance fee.

 

[Fredflintstone]

Independent HOAs are not in the position to wave mfs. The taxes still need to be paid as are other expenses. I would also hope they are still paying the employees so when it is time to open again there is a good staff available.

I was just talking with my other half earlier today and we both realize our weeks this year and next might be lost even though we are paying mfs. Even if they open up, changing circumstance can make them close.

Whereas no one including me likes paying money for a timeshare we cannot use, it is the risk of owning. I own a studio coop in a NYC borough and obviously I am not going there. I still have to pay my monthly maintenance fee.

Sure @Panina, you can go to NYC or the other timeshares.

You will just need to wear today’s new travel gear

Sent from my iPad using Tapatalk

 

[Panina]

Sure @Panina, you can go to NYC or the other timeshares.

You will just need to wear today’s new travel gear

Sent from my iPad using Tapatalk

I prefer pink.

 

[montygz]

Does the board have the power to close a resort during corona if the governor opens hotels and resorts?

They can close the resort, however, they would still owe property taxes, mortgage costs, utilities, etc.

Closing the resort would save money on staff, utilities would be less, they could differ some maintenance and rehabs.

In the short term, I don't think maintenance fees will change much. A bigger issue might be people just not paying them. It really depends on how fast the economy rebounds.

 

[AJCts411]

Small or large, the resorts are a business. Some assume the larger ones can absorb the loss more than a smaller one. I don't agree, the losses are just bigger.
In Florida, I would question the wisdom of the board if they did not have some sort of reserve fund for "resort closing events" like hurricanes or adequate insurance. ( I'm fully aware of how insurance co. are weaseling out of their responsibility.)
While the resorts are closed the bills keep coming in, and maintenance fees have to be paid to keep the resort afloat. Large or small.
I suggest a lot of those owners who do not accept their responsibility were about to walk away anyway, for what ever reason, loss of interest, "bought an investment, change in financial situation... and just looking for another, final excuse.
This may rub some the wrong way but if you bought with your eyes closed, that's on you, not the rest of the owners paying for dead beat owners.

 

[DannyTS]

Yes they do have the right IMO. It is a tough decision to balance the economics with the safety of the staff and the guests. Litigation costs may go up. I wish everyone was reasonable but some will try to take advantage.

Also, once they open, what do you do with staff claiming not feeling well? You can literally have 20-30% of people wanting to stay home in self-isolation and continue to get paid.