MGV Structural Integrity Report (SIRS)

[claraj]

I received a letter in the mail that the Structural Integrity Report is available to download. I took a look and nothing looks too concerning to me but I am a total newb at this.

 

[LeslieDet]

It is reflecting compliance with the updated FL laws regarding condo reserve analysis to complete the structure analysis by a fixed date. You are receiving it because you are an owner of a condo at that location. Reserves are being calculated. A reserve factor includes the structural integrity of the buildings. IMO they are not asking you to opine as to whether or not the buildings are safe, rather, they are sharing the professional report with you as required by law.

 

[Luvtoride]

Clara, Which Property do you own at in Florida (I couldn't open the attachment)? I just received this regarding my ownership at Cypress Harbour. I have already responded to MVC Management (and copied the board of Cypress Harbour), that while I understand this is a legal requirement, I expect to get a more descriptive explanation of the SIRS report and the future costs vs. what we have funded and how any shortfall will be made up in the near future. I'm not an engineer either and although nothing sounded alarming in the report, there were some pretty large dollars of required repairs over the next 3-12 years, that are going to have to be paid for by the owners. Fingers crossed, but it will probably cost owners alot of money in future MF increases or assessments.

 

[dioxide45]

Interesting that the sign they have in the photo on the second page isn't very structurally sound It was hit by a vehicle and is currnetly surrounded by a construction fence.

 

[claraj]

Clara, Which Property do you own at in Florida (I couldn't open the attachment)? I just received this regarding my ownership at Cypress Harbour. I have already responded to MVC Management (and copied the board of Cypress Harbour), that while I understand this is a legal requirement, I expect to get a more descriptive explanation of the SIRS report and the future costs vs. what we have funded and how any shortfall will be made up in the near future. I'm not an engineer either and although nothing sounded alarming in the report, there were some pretty large dollars of required repairs over the next 3-12 years, that are going to have to be paid for by the owners. Fingers crossed, but it will probably cost owners alot of money in future MF increases or assessments.

I own at Grande Vista.

 

[TUGBrian]

Shall be interesting to read these reports as they come in for some of the larger/more popular oceanfront resorts!

here is the same report/discussion from a hyatt resort: https://tugbbs.com/forums/threads/hyatt-beach-house-structural-inspections-reserve-funding-requirements.366557/

 

[4TimeAway]

I think we forget that as "owners" we get to deal with all these potential losses. I think EQ in CA, Lava in Hawaii, landslides in many locations, not to mention Fires, Floods and Wind.

On the other hand, someone else deals with it and large number of owners makes it somewhat less costly personally.

The Florida issue is somewhat shocking still. Can you imagine if our TS buildings are having these issues, what Hotels are dealing with? I can't.

Much of these issues seem like changes in construction technology and aging infrastructure that was somewhat marginal and not aging well. In the US, so much of our construction is in the 100-50 years that we are due for a massive updating cycle. I see the Florida changes something we will be dealing with for the next 20 years or longer at the national level.

 

[Danlop88]

Oh man, just saw this and won a bid for an EOY MGV today. Hopefully the cost will not be to high.

 

[Dean]

Oh man, just saw this and won a bid for an EOY MGV today. Hopefully the cost will not be to high.

Hopefully it falls through as, IMO, $2150 total for an EOY week there is a bit much. One should be able to get an EY for that or less IMO, esp with this looming.

 

[jwalk03]

There have been 2 annual platinum 2-bedrooms pass at $1800 in the last couple of months.

 

[Danlop88]

The every other year ones seem to be more expensive than every year ones lately. Needed an Even Year MGV. As I also had purchased an Even MGC so I could leverage the 13 month out reservation.

 

[Superchief]

One of the problems for the MVC Florida resorts is that there are several new building codes in place. The manager at the Palms locations told me that Royal Palms will likely have more repairs needed than Sabal Palms due to being included in the structural integrity requirement because it is more than 2 stories. They may also be required to add fire sprinkler systems that hadn't been included in building codes when it was constructed.

 

[MikeM132]

Oh man, just saw this and won a bid for an EOY MGV today. Hopefully the cost will not be to high.

I looked at this pretty quickly and it seemed to say the reserves as is appear adequate. I am assuming this means no major adjustments to reserves, unless they decide to fully fund them (still not required, apparently). Looks as though Grande Vista is in pretty decent shape but physically and financially.