Gold Point reserve charges

[Gophesjo]

In addition to the 20 plus percent increase in my annual maintenance fees I see a $625 reserves charge on my annual fee bill. Does anyone know if this is a one-time additional fee or if it's recurring does that mean we had a 75% (approx) increase in annual maintenance that likely will not go away in the future? Seeing this also makes me curious about whether or not Breckenridge Grand short sheeted our reserve accounts while they still were the management company in charge of the property.

 

[dougp26364]

In addition to the 20 plus percent increase in my annual maintenance fees I see a $625 reserves charge on my annual fee bill. Does anyone know if this is a one-time additional fee or if it's recurring does that mean we had a 75% (approx) increase in annual maintenance that likely will not go away in the future? Seeing this also makes me curious about whether or not Breckenridge Grand short sheeted our reserve accounts while they still were the management company in charge of the property.

Makes me wonder, and also a little concerned as well, since we own a fairly expensive week at Grand Colorado on Peak 8.

There defiantly appears to be something amiss here. BGV may have been keeping fees artificially low and dumped the management contract when just before things crashed. BGV didn’t have full control of the BOD and felt they couldn’t maintain the resort with the BOD approved budget so they left and now the BOD finds they have underfunded the resort. Perhaps since it’s an older resort the BOD wanted to make some major improvements that are costly, and BGV didn’t want to be a party to the huge increase.

It would be nice to know so I can gauge the level of concern I have with my own deeded week at GC on Peak 8.

 

[Gophesjo]

Makes me wonder, and also a little concerned as well, since we own a fairly expensive week at Grand Colorado on Peak 8.

There defiantly appears to be something amiss here. BGV may have been keeping fees artificially low and dumped the management contract when just before things crashed. BGV didn’t have full control of the BOD and felt they couldn’t maintain the resort with the BOD approved budget so they left and now the BOD finds they have underfunded the resort. Perhaps since it’s an older resort the BOD wanted to make some major improvements that are costly, and BGV didn’t want to be a party to the huge increase.

It would be nice to know so I can gauge the level of concern I have with my own deeded week at GC on Peak 8.

Thanks Doug - I actually want to keep this because I'm fond of the resort and enjoy Breckenridge, but if the maintenance fee level is going to remain this high at infinitum I may need to look at other opportunities. I have no idea what's going on with BGV and the other properties and unfortunately therefore I can only share your curiosity rather than assuage it.

 

[Gophesjo]

I got my answer. Vacatia informed me that they had sent me the wrong bill. The corrected bill they have sent me reflects a relatively insignificant increase over last year's fees. My unit there is a one bedroom unit and they had sent me the maintenance fee statement for a three bedroom unit. As you might imagine I am much relieved.