I received a letter from The Plaza Resort in Reno, NV that they are ceasing operations as a timeshare property. I have owned 2 weeks there since the 1985.
They have given me the option of signing the weeks back over to them or selecting one of 3 resorts to transfer to by playing $325.00 transfer fee. I plan to return the weeks back to the as I don't want any of the selections offered in Tahoe.
They said that the building will be sold once all weeks are either returned to them or transferred to the resorts offered. They also said that after the costs involved in ceasing operations there will not be any funds left to pay out to members. That's the part that sucks to me. I have owned the 2 weeks free and clear and have always paid maintenance fees when due. I find it hard to believe based on property values that there will not be any funds left after the building is sold. Its prime property sitting along side the Truckee River, 2 blocks off the main strip in Reno. Its always been a Gold Crown Resort since RCI was started.
They have based closing on delinquent maint. fees and lack of unit sales over the past few years.
Thanks for listening to me rant.
Suzanne
They have given me the option of signing the weeks back over to them or selecting one of 3 resorts to transfer to by playing $325.00 transfer fee. I plan to return the weeks back to the as I don't want any of the selections offered in Tahoe.
They said that the building will be sold once all weeks are either returned to them or transferred to the resorts offered. They also said that after the costs involved in ceasing operations there will not be any funds left to pay out to members. That's the part that sucks to me. I have owned the 2 weeks free and clear and have always paid maintenance fees when due. I find it hard to believe based on property values that there will not be any funds left after the building is sold. Its prime property sitting along side the Truckee River, 2 blocks off the main strip in Reno. Its always been a Gold Crown Resort since RCI was started.
They have based closing on delinquent maint. fees and lack of unit sales over the past few years.
Thanks for listening to me rant.
Suzanne