Harborside deed back

[Smalls]

Been an owner since 2003. I’ve greatly enjoyed my trips but not really able to use it anymore as the kids are older and schedules get in the way. Didn’t pay my MF fees during covid because I didn’t have access to my week as resort was shutdown. I received a letter at end of last year giving me 2 options. One was foreclosure. One was Deedback. I called to verbally accept the deedback option. Long story short, nobody could help me on the phone and after a few weeks, I was sent another letter claiming the deedback option in the original letter was sent in error as they don’t do deedbacks for Harborside. I’ve tried to give away my week for free with no success. Any advice would be welcome.

 

[CPNY]

Been an owner since 2003. I’ve greatly enjoyed my trips but not really able to use it anymore as the kids are older and schedules get in the way. Didn’t pay my MF fees during covid because I didn’t have access to my week as resort was shutdown. I received a letter at end of last year giving me 2 options. One was foreclosure. One was Deedback. I called to verbally accept the deedback option. Long story short, nobody could help me on the phone and after a few weeks, I was sent another letter claiming the deedback option in the original letter was sent in error as they don’t do deedbacks for Harborside. I’ve tried to give away my week for free with no success. Any advice would be welcome.

I’d keep trying to Give it away. If you have a decent week some may want it. Harborside maint fees are ridiculously high in the timeshare world but when you think about what you’re getting in regards to being at the Atlantis, it’s still a great value when compared to staying at the actual Atlantis. Also, you never know how Harborside shakes out in the new combined program come 2024 when it may be allowed to participate.

Phase 1 I assume, How many Star Options?

 

[Smalls]

I’d keep trying to Give it away. If you have a decent week some may want it. Harborside maint fees are ridiculously high in the timeshare world but when you think about what you’re getting in regards to being at the Atlantis, it’s still a great value when compared to staying at the actual Atlantis. Also, you never know how Harborside shakes out in the new combined program come 2024 when it may be allowed to participate.

Phase 1 I assume, How many Star Options?

Yes. Phase 1. Fixed Week 14. 1BR. 67,100 star options.

 

[CPNY]

Yes. Phase 1. Fixed Week 14. 1BR. 67,100 star options.

The small one bedrooms are a bit harder to give away. I was able to give my week 19 premium one bedroom away on a timeshare facebook group. I think you’d have a hard time trying to give it away in TUG but an easier time on Facebook. In the meantime you can rent it out to cover the MF, book spring break weeks in your home season. Those rent for a decent amount until you figure out what you want to do.

 

[Mulege]

Harborside is listed on the official list of properties under the new system. I saw the sales information. I have no other details.

 

[dioxide45]

Harborside is listed on the official list of properties under the new system. I saw the sales information. I have no other details.

Yes it is listed but won't be able to participate until at least 2023 for 2024 usage.

 

[Smalls]

Thanks for the quick responses. I’m not familiar with what the new system or participating means in regards to Harborside. I only went to Harborside outside of 1 year when I used my options to go to Westin St. john. I understand that other properties have better value in terms of maintenance fees per star option and that title fees are higher in the Bahamas than state side and that’s why it basically has negative value. Is there a possibility something changes?

 

[CPNY]

Thanks for the quick responses. I’m not familiar with what the new system or participating means in regards to Harborside. I only went to Harborside outside of 1 year when I used my options to go to Westin St. john. I understand that other properties have better value in terms of maintenance fees per star option and that title fees are higher in the Bahamas than state side and that’s why it basically has negative value. Is there a possibility something changes?

The possibility is they assign high DC point values to Harborside units. If Harborside will be eligible to participate in the Destination Club Exchange in 2024, you may be able to take the points and book Marriott resorts directly at 12 months. You may want to hang on a year or two. Another option is to look into interval. I know plenty of Harborside owners who have had great success exchanging into Marriott resorts in Maui, Aruba, or other Vistana resorts. You may be able to exchange that Harborside for a two bedroom in a Westin via an exchange plus small upgrade fee. That’s something that your star options would never allow because 67,100 won’t get you a two bedroom in those prime resorts.

 

[Smalls]

The possibility is they assign high DC point values to Harborside units. If Harborside will be eligible to participate in the Destination Club Exchange in 2024, you may be able to take the points and book Marriott resorts directly at 12 months. You may want to hang on a year or two. Another option is to look into interval. I know plenty of Harborside owners who have had great success exchanging into Marriott resorts in Maui, Aruba, or other Vistana resorts. You may be able to exchange that Harborside for a two bedroom in a Westin via an exchange plus small upgrade fee. That’s something that your star options would never allow because 67,100 won’t get you a two bedroom in those prime resorts.

Great to know. Thank you.

 

[EnglishmanAbroad]

Great to know. Thank you.

I'm not sure if any of what's being mentioned (give it away, wait for DC exchange) is feasible unless you pay the MFs.

 

[CPNY]

I'm not sure if any of what's being mentioned (give it away, wait for DC exchange) is feasible unless you pay the MFs.

Yes, Maint fees would have to be paid to give it away, and maint fees would have to be paid to keep it. Didn’t think that would have to be specified. Anyone who owns a timeshare should know this.

 

[emeryjre]

It will be interesting to see how Harborside is handled in the new program. Is Harborside capable of being booked using Westin Flex Points or Sheraton Flex points at this time.

 

[CPNY]

It will be interesting to see how Harborside is handled in the new program. Is Harborside capable of being booked using Westin Flex Points or Sheraton Flex points at this time.

No, it’s not part of the Westin or Sheraton flex program. My question is, who owns the unsold and foreclosed Harborside inventory?

 

[dioxide45]

It will be interesting to see how Harborside is handled in the new program. Is Harborside capable of being booked using Westin Flex Points or Sheraton Flex points at this time.

I don't beleive it is in Westin or Sheraton Flex.

Updated Flex FAQ

This FAQ has been built upon the previous Flex FAQ by okwiater from 2016 and makes updates to include the Westin Flex and Aventuras Flex systems, as well as some other recurring questions that arise on TUG. I did invite the original author to collaborate on this revision; however, the offer was...

tugbbs.com

 

[dioxide45]

No, it’s not part of the Westin or Sheraton flex program. My question is, who owns the unsold and foreclosed Harborside inventory?

Does Vistana even have a sales office at Harborside these days?

 

[CPNY]

Does Vistana even have a sales office at Harborside these days?

They do, I refused an update when I was there last month. I may go in July but by then who cares, I’ll already know the rollout.

I’m really confused on where the foreclosed and unsold inventory lies. If it was a 50/50 joint venture between Kerzner and SVO. I’d assume that ILG which became Vistana, acquired 50% during the spinoff. If that stayed, wouldn’t that mean that MVW owns 50% and the other 50% is owned by Brookfield the current owners of Atlantis? I know you can book rooms at the Harborside via Atlantis bahamas website but you cannot book it via bonvoy while All other “towers” are able to be booked via Bonvoy/Marriott hotels. It’s all so confusing

 

[dioxide45]

They do, I refused an update when I was there last month. I may go in July but by then who cares, I’ll already know the rollout.

I’m really confused on where the foreclosed and unsold inventory lies. If it was a 50/50 joint venture between Kerzner and SVO. I’d assume that ILG which became Vistana, acquired 50% during the spinoff. If that stayed, wouldn’t that mean that MVW owns 50% and the other 50% is owned by Brookfield the current owners of Atlantis? I know you can book rooms at the Harborside via Atlantis bahamas website but you cannot book it via bonvoy while All other “towers” are able to be booked via Bonvoy/Marriott hotels. It’s all so confusing

If it is a loan foreclosure, it would probably be Vistana since they are the ones providing financing. Though not 100% sure on that. If it is for maintenance fees, it would probably be the HOA. When the unit is resold, I would think the HOA earns any revenue from it minus any fees Vistana charged the HOA to sell the week.

 

[CPNY]

If it is a loan foreclosure, it would probably be Vistana since they are the ones providing financing. Though not 100% sure on that. If it is for maintenance fees, it would probably be the HOA. When the unit is resold, I would think the HOA earns any revenue from it minus any fees Vistana charged the HOA to sell the week.

I’m not sure how many new ownership they are selling down there. I think most of the foreclosures are for Maint fee non payment. I thought I read somewhere that Harborside was owned by another company and just managed by Vistana/MVW. Not sure that is accurate since it was a joint venture and SVO owned 50%.

 

[emeryjre]

It is all very confusing. I was told several years ago that if I attended a sales presentation at Harborside, I would be told about a "points" program. I had no interest in a sales presentation so I do not know if the person was lying, or if there was/is some type of point program there.

 

[tschwa2]

I’m not sure how many new ownership they are selling down there. I think most of the foreclosures are for Maint fee non payment. I thought I read somewhere that Harborside was owned by another company and just managed by Vistana/MVW. Not sure that is accurate since it was a joint venture and SVO owned 50%.

I wouldn't be surprised if they didn't do HOA foreclosures and just let it stay on the books of the owner with fees racking up.

 

[CPNY]

I wouldn't be surprised if they didn't do HOA foreclosures and just let it stay on the books of the owner with fees racking up.

That could be why everyone else’s fees are through the roof. If that were the case, legally wouldn’t the inventory have to stay in the VSN? It also makes sense since there was a person who used to rent out units for the HOA. I believe he made his business on that

 

[tschwa2]

That could be why everyone else’s fees are through the roof. If that were the case, legally wouldn’t the inventory have to stay in the VSN? It also makes sense since there was a person who used to rent out units for the HOA. I believe he made his business on that

Most resorts give the inventory to Marriott to rent out but maybe there are complicated rules from the original developer. I don't know. Bad debt is part of the problem with Harborside but I don't think it is the only one that causes the high fees.

 

[CPNY]

Most resorts give the inventory to Marriott to rent out but maybe there are complicated rules from the original developer. I don't know. Bad debt is part of the problem with Harborside but I don't think it is the only one that causes the high fees.

The VAT doesn’t help. It’s such a shame because if it had low fees it would be one of the best resorts to own. It’s also been noted today that the Harborside shuttles are no longer running. They are being replaced Atlantis shuttles. The HOA no longer has to maintain and pay shuttle drivers or buy new shuttles. I wonder if the Atlantis facilities fee will increase due to this change.