Hello All,
I wasn't sure which forum to post this so I thought I would try here. My husband and I recently received a letter from the Board of Trustees of the resort where we own a timeshare. The letter basically says that the Board of Trustees has decided to take over financial control of the management of the resort and collection of maintenance fees. Apparently the Board found evidence of mismanagement of the maintenance fees by the Management Company. The resort is also extremely far behind in outstanding bills and is in danger of having services terminated if some of the bills are not paid immediately. The Board of Trustees is asking the owners to no longer deal with the management company and send them the 2009 maintenance fee along with an additional $30.00 to help cover the legal fees which might arise over this issue. I know I have been waiting for months to get a check from the resort for renting my unit this summer and have not been able to get through to anyone at the resort who can tell me what is going on. Now I'm concerned I'll never get the rental money and wondering what will happen to our timeshare if the resort goes bankrupt. Has anyone had a similiar experience? Are there any Edgewater Beach Resort owners out there who can shed some light on this? I'm very hesitant to send a check to this group without more specific information. So for now I'm not doing anything but worrying. Any insights on this would be appreciated.
Thank you.
I wasn't sure which forum to post this so I thought I would try here. My husband and I recently received a letter from the Board of Trustees of the resort where we own a timeshare. The letter basically says that the Board of Trustees has decided to take over financial control of the management of the resort and collection of maintenance fees. Apparently the Board found evidence of mismanagement of the maintenance fees by the Management Company. The resort is also extremely far behind in outstanding bills and is in danger of having services terminated if some of the bills are not paid immediately. The Board of Trustees is asking the owners to no longer deal with the management company and send them the 2009 maintenance fee along with an additional $30.00 to help cover the legal fees which might arise over this issue. I know I have been waiting for months to get a check from the resort for renting my unit this summer and have not been able to get through to anyone at the resort who can tell me what is going on. Now I'm concerned I'll never get the rental money and wondering what will happen to our timeshare if the resort goes bankrupt. Has anyone had a similiar experience? Are there any Edgewater Beach Resort owners out there who can shed some light on this? I'm very hesitant to send a check to this group without more specific information. So for now I'm not doing anything but worrying. Any insights on this would be appreciated.
Thank you.