No Grandview accountability on rents!!! Scary

[gregg.wilson]

I just got this from the Grandview when I asked for an accounting of my week!

Hello,

Thank you for your inquiry.

No, Grandview owners are not permitted to partition their ownership week, nor are they provided with a detailed accounting of the number of days the unit was rented during that period.

Please do not hesitate to reach out should you require any further assistance.

Kind regards,

With accountability than how do I know that the rent check I received is correct or worse what if they said it didn't rent check, how would you prove differently. This whole thing is going to go sideways soon. Scary!!

 

[montygz]

This is because the inventory being dumped by owners is going into a pool and the rental revenue is shared.

For example, you and 30 neighbors each bring an food item and put it into a giant stew pot. After the stew is made, someone comes along and buys a bowl for $10.
Do you get all the money?

Certainly, how Vacatia is doing this should be better explained. There should be accounting as to the number of overall deposited units into the pool and the revenue generated. They should have gotten ahead of this by explaining how the rental income would be split.

It never made sense to me as to how Daily Management was paying such large rental amounts, but no one complained about that. Perhaps many people were just getting nothing and just told their units were not renting.

Vacatia is still new at the Grandview and hopefully more answers will come out.

This is a similar discussion about this in this thread....https://tugbbs.com/forums/threads/online-vv-system-vacatia.381449/

 

[gregg.wilson]

Ya, wish I could get out of this but who wants them. You know you have a problem when they don't want them back. :-(

 

[dioxide45]

For example, you and 30 neighbors each bring an food item and put it into a giant stew pot. After the stew is made, someone comes along and buys a bowl for $10.
Do you get all the money?

I think the problem is when people bring high value weeks to the rental pool and they get pooled with lower value weeks in the same month. Think Thanksgiving or Christmas/New Year weeks. Weeks 51 and 52 get pooled with 49 and 50 which likely don't even rent or only rent a few days. However all the money is split between all owners that put their week in for that month. So the stew analogy would be better stated as, 30 neighbors bring food items, one person brings potatoes while the other brings the beef. They both get the same spit even though the beef was a more expensive item.

 

[Ski-Dad]

The OP makes a good point about transparency. I own at Grandview, but never put my unit in the pool as they withheld 30% of my cut as withholding tax for non US residents

 

[montygz]

I think the problem is when people bring high value weeks to the rental pool and they get pooled with lower value weeks in the same month. Think Thanksgiving or Christmas/New Year weeks. Weeks 51 and 52 get pooled with 49 and 50 which likely don't even rent or only rent a few days. However all the money is split between all owners that put their week in for that month. So the stew analogy would be better stated as, 30 neighbors bring food items, one person brings potatoes while the other brings the beef. They both get the same spit even though the beef was a more expensive item.

There is no question that Vacatica should explain how that "stew" is being made.

The various weeks at the Grandview have different values, so you would think it would not be too hard to divide the money.

With the speed of the Vacatia takeover, and with many owners having reporting issues, I would not be surprised if they just did some quick-and-dirty way to split up the money. That is just all speculation.

 

[gregg.wilson]

Too bad, if they had more transparency and worked harder to bring value to ownership it would seen they would do better themselves. Maybe we would not see any Grandview $1.00 deals anymore. What are they afraid of UNLESS WHAT THEY ARE DOING IS A LITTLE SHADY! Ya think!!

 

[montygz]

Too bad, if they had more transparency and worked harder to bring value to ownership it would seen they would do better themselves. Maybe we would not see any Grandview $1.00 deals anymore. What are they afraid of UNLESS WHAT THEY ARE DOING IS A LITTLE SHADY! Ya think!!

To me the value in owning at Grandview has never been to rent it out, it is to use it as a timeshare for the number of trips you get vs. the cost of the fees.

I think this reinforces one of the golden rules of timeshare ownership --- buy it to use to stay in timeshares, not to rent out, not to try to trade for cruises, not to book all-inclusive resorts, not to trade for rental cars or the many other non-timeshare-related questions I often see about them.

 

[gregg.wilson]

I agree, the big problem is WE GET OLD! And after 12 years we would like to pass it on, it is paid for so the problem is YOU CAN NOT EVEN GIVE THE DAMM THING AWAY! If it had value it would be easy??? So if you want another it's Free! We will even put up $1,000 towards transfer. They just aren't running to grab it up and enjoy as you said the wonderful world of timeshare. IF IT WAS NOT FOR GETTING WE WOULD STILL ENJOY IT AS IT DID SAVE MONEY but now you are going to pay for that!!!!!