Maintenance fees paid in advance?

[silentg]

Hello ,
I notice lots of you make exchanges way in advance. Is this because your resorts allow you too do this before maintenance fees are paid. Most if not all the resorts I own want the maintenance fees paid for the week I am using for exchange before I can proceed. I have all of 2015 weeks assigned and would like to start doing exchanges with my 2016 weeks. I have one (TUG) exchange in place. So that is not a concern, but my other weeks..I have to wait.
Also the resorts do not know what the fee will be yet. Just curious how you do it?
Like I said before, I have been an owner for years, but still have things to learn!
Silentg

 

[Luanne]

Both resorts we own at allow us to bank our weeks prior to the maintenance fees being paid.

For example, in August I will be banking our 2017 week for Maui Hill and we just paid the 2nd quarter 2015 maintenance fees.

 

[PrairieGirl]

MF paid in advance

One of my resorts allows you to book your use week exactly one year in advance and may your MF when it normally comes due. So I book in Nov for the next Nov and pay my MF when it is billed in Dec. BUT, you can't deposit the week with an exchange company before the MF is paid. If you want to do that, you pay the same as the current year's MF, deposit the week and then get billed for the difference at the normal time.

Another of my resorts requires payment before they will even reserve the week (and then you are free to rent or deposit it) - same thing, pay the amount of the current MF and get billed later for the difference. Funny, there never seems to be any concern about what would happen if the MF actually went down.....lol.

 

[tschwa2]

Most fixed week resorts let you deposit with an exchange company 12-24 months in advance. Most float week resorts let you deposit 11-12 months in advance although some let you do so up to 24 months in advance. Pay them the current MF for the future year if they require you to pre pay. Then when they send out bills in Oct-Dec you will only get a bill for the difference in the MF's.

 

[silentg]

I am buying a couple of resales, have to ask when I get the deed when I can deposit. The ones I have now require Maintenence fees be paid first.

 

[SueDonJ]

Marriott sends out the annual Budget Reports and MF invoices sometime Oct/Nov for the following year with full payment due in January. Pre-payment is not required in advance for any reason, but dues must be current at the time of check-in or they won't allow access to intervals reserved prior to MF due dates.

 

[missyrcrews]

No prepayment

As long as an owner's account is in good standing, they can deposit their weeks before the mf's are paid at my home resort (Cold Spring.) My parents own at Lakewood Resort in Missouri, and they have to prepay before depositing. I like my resort's system better.

 

[csxjohn]

My Tropic shores units can be claimed one year in advance of check in providing I pay the estimated MFs for the next year.

As you can see, not all of them work the same way.

I'm selling my Summer Bay unit and don't know how far out that one can be reserved, I've never had a problem getting the weeks I want with that one.

 

[Icc5]

We've had to pay early

Hello ,
I notice lots of you make exchanges way in advance. Is this because your resorts allow you too do this before maintenance fees are paid. Most if not all the resorts I own want the maintenance fees paid for the week I am using for exchange before I can proceed. I have all of 2015 weeks assigned and would like to start doing exchanges with my 2016 weeks. I have one (TUG) exchange in place. So that is not a concern, but my other weeks..I have to wait.
Also the resorts do not know what the fee will be yet. Just curious how you do it?
Like I said before, I have been an owner for years, but still have things to learn!
Silentg

I think it was with Orange Lake (we've been an owner for over 20 years in good standing). We called and they told us to pay same as last year and they would bill us if anymore was owed (I think). Anyway, it wasn't a big deal.

 

[dioxide45]

Marriott only requires payment when billed. You can reserve, deposit or rent out your week without payment. Of course to actually stay in your reservation or for a guest to do it, MFs would have to be paid unless the reservation is the first week or two of January, before the MF due date. If you become past due on your MFs, Marriott will cancel the home resort reservation. Not sure what they would do about a deposited week, probably nothing except to file a lien.

I believe Starwood will allow you to make a home resort or SVN reservation without paying MFs, but to deposit in to II or RCI, you have to prepay MFs.

 

[TSPam]

For my Club intrawest I can book 11 months in advance. As long as I am using points for the use year of the week I am booking I am fine. If I have to borrow points from a future year then I have to pay dues based on the current years charge.