Ocean Pointe 2023 MF's - More Than 25% Increase !! / Kingfish Roof [MERGED]

[Superchief]

It will be interesting to see whether the 10% management fee was applied to this $500.

 

[pedro47]

Can Marriott's suit the original contractor for poor workmanship?

 

[SueDonJ]

I vaguely remember other resorts where SA's designated for specific immediate, unexpected needs were rolled into the Reserves rather than being designated as SA's on a line item - maybe the recent Monarch 4-year assessment that included repairs due to unexpected water intrusion issues? It was at the same time as or shortly after the Hurricane Matthew-related SA's were assessed on the Hilton Head resort budgets as "Disaster Recovery Fee" line items rather than SA's, so after 2017? (The 10% Mgmt Fee was not assessed on those.)

There's definitely a trend away from line items designated "Special Assessment" but there's no reason why owners shouldn't be prepared in advance with the complete explanation of a coming SA, especially at the resorts where it's mandated that the estimated budget be furnished to owners in advance of the Annual Meeting packet. That's just poor service from the board.

 

[dougp26364]

I agree, there should have been communication BEFORE sending out the MF bills. This would be like being an employee at a company and getting to your annual review for them to give you a “doesn’t meet expectations” rating. Shouldn’t this be part of ongoing communications by the board to owners? Does the board provide an annual or semi annual newsletter to owners?

I don’t recall ever receiving a new letter for our BOD other than what’s ordinarily sent out with the MF billing. For that matter, I do t recall getting communication from either Grand Chateau or Shadow Ridge.

 

[dougp26364]

Can Marriott's suit the original contractor for poor workmanship?

This far down the road it’s unlikely.

I’m certain that, at the time the resort was built, it met all design and construction requirements/standards. The location of this building g provides more exposure to wind and salt water. Something that might not have been taken into consideration at the time Kingfish was built. Sometimes you just can’t foresee all the potential hazards and you learn from experience, adjust building codes and practice and move forward. Experience is a better teacher than text books.

 

[dougp26364]

I vaguely remember other resorts where SA's designated for specific immediate, unexpected needs were rolled into the Reserves rather than being designated as SA's on a line item - maybe the recent Monarch 4-year assessment that included repairs due to unexpected water intrusion issues? It was at the same time as or shortly after the Hurricane Matthew-related SA's were assessed on the Hilton Head resort budgets as "Disaster Recovery Fee" line items rather than SA's, so after 2017? (The 10% Mgmt Fee was not assessed on those.)

There's definitely a trend away from line items designated "Special Assessment" but there's no reason why owners shouldn't be prepared in advance with the complete explanation of a coming SA, especially at the resorts where it's mandated that the estimated budget be furnished to owners in advance of the Annual Meeting packet. That's just poor service from the board.

I have had issues with this board in the past. I voiced concerns and was, essentially, shouted down by a board member. I removed myself from that online group and initially blocked this thread until I saw this years annual bill. I only unblocked this thread to see if anyone could explain why such an increase.

I haven’t checked my mail yet this morning. Nothing was in my mailbox yesterday. On a FB Ocean Pointe owners group someone posted the information as to why there was a need for the increase. The explanation was reasonable.

I would have liked advance warning. I certainly would have felt better and less angry at the board. Advance notice would also have given owners time to plan and budget for this hit. There is NO WAY they didn’t know this would make a significant impact on the budget. They might not have had the exact figure, but they could still have let owners know there would be a significant increase. This was a MAJOR fail and shows little concern for Ocean Pointe owners IMHO.

At this point they need to be telling owners of this is a one time hit and the fees will go back down next year or, do we need to plan for this sort of end-of-year bill for 2024?

 

[Fasttr]

Grande Ocean’s GM puts out an annual letter to owners (6 or 7 pages) a month or so before the MFs come out explaining goings on at the resort, what’s been done in the last year, what’s planned for the upcoming year, along with other resort related info. Don’t all resorts do this? Seems like this would have been a great place to explain the issue to minimize surprise.

 

[pedro47]

Grande Ocean’s GM puts out an annual letter to owners (6 or 7 pages) a month or so before the MFs come out explaining goings on at the resort, what’s been done in the last year, what’s planned for the upcoming year, along with other resort related info. Don’t all resorts do this? Seems like this would have been a great place to explain the issue to minimize surprise.

A simple answer to your question No. All resort managers do not send out an annual letter to the owners a month before MFs are due.

 

[dougp26364]

Grande Ocean’s GM puts out an annual letter to owners (6 or 7 pages) a month or so before the MFs come out explaining goings on at the resort, what’s been done in the last year, what’s planned for the upcoming year, along with other resort related info. Don’t all resorts do this? Seems like this would have been a great place to explain the issue to minimize surprise.

Every resort we own EXCEPT for our Marriott resorts.

I do get some of the BOD meeting notes, which doesn’t have a lot in them and usually something explaining the increase in MF’s, but nothing like a newsletter.

To the other end of the spectrum, we receive a resort update newsletter every month for the management team with Breckenridge Grand Vacations. Even Spinnaker Resorts, which I consider a bottom feeder amung timeshare resorts, sends out a quarterly newsletter. There’s not much in it but they send us something each quarter. Grand Chateau, Shadow Ridge, Ocean Pointe and trust points………crickets.

Concerning trust points you’d like to think Marriott could send out something about the important goings on at various resorts in the collection. After 21 years of owning I’ve come to understand it’s not going to happen.

 

[dioxide45]

Grande Ocean’s GM puts out an annual letter to owners (6 or 7 pages) a month or so before the MFs come out explaining goings on at the resort, what’s been done in the last year, what’s planned for the upcoming year, along with other resort related info. Don’t all resorts do this? Seems like this would have been a great place to explain the issue to minimize surprise.

Harbour Lake usually sends out a spring and fall newsletter. We often get one for Vistana Villages too. I randomly see one from Grande Vista, but nothing consistent.

 

[dioxide45]

It will be interesting to see whether the 10% management fee was applied to this $500.

Does anyone actually have the budget breakdown that would normally be available online? If so, @SueDonJ can do the math for us.

 

[billymach4]

I am confused? Do we expect this to be a one time fee of $500 for 2023 at Ocean Pointe? Call it an SA or whatever it is?
If it's a one time fee aka assessment it does not become a permanent increase. I do understand nobody wants to pay more whatsoever. If it's one and done then I can deal with that.

 

[dougp26364]

I am confused? Do we expect this to be a one time fee of $500 for 2023 at Ocean Pointe? Call it an SA or whatever it is?
If it's a one time fee aka assessment it does not become a permanent increase. I do understand nobody wants to pay more whatsoever. If it's one and done then I can deal with that.

This is part of the owners frustration. We don’t know! Communication between the BOD and owners is as poor as anything I’ve ever seen. They’ve hit us with a huge increase without so much as a letter or email to explain it.

 

[Superchief]

I hope someone can provide the email addresses of the board members so owners can contact them regarding their poor management regarding this issue. Perhaps they would then appreciate the importance of communication. I agree with Doug that one board member is totally arrogant and unhelpful and I try to vote them off at every opportunity. However, I never received my ballots from Ocean Pointe this year.

 

[billymach4]

This is part of the owners frustration. We don’t know! Communication between the BOD and owners is as poor as anything I’ve ever seen. They’ve hit us with a huge increase without so much as a letter or email to explain it.

Indeed we've now find ourselves in a crisis. I am not being sarcastic whatsoever. I consider the Audience and members of this thread and tug2.net to be the eminent worldwide authority on Marriott consumer time sharing at ocean pointe.

 

[dioxide45]

If it is $500 per unit week, if my math is right, that means that the amount being collected is over $8 million! I suspect they sold 51 unit weeks and there are 341 units. Now the 3BR units might have a higher assessment, but assuming every week is $500 then it is 341 x $500 x 51 = $8,695,500

 

[billymach4]

If it is $500 per unit week, if my math is right, that means that the amount being collected is over $8 million! I suspect they sold 51 unit weeks and there are 341 units. Now the 3BR units might have a higher assessment, but assuming every week is $500 then it is 341 x $500 x 51 = $8,695,500

While I agree with your statement I don't want to say I like it with the Thumbs up.

 

[Vacation1]

FYI - Here is a letter dated October 24, 2022 outlining the reserve fee increase and why. The increase is due mainly to a special reserve fee for the Kingfish roof repair.

 

[dioxide45]

FYI - Here is a letter dated October 24, 2022 outlining the reserve fee increase and why. The increase is due mainly to a special reserve fee for the Kingfish roof repair.

This looks to be an estimated budget. That means that the "Reserve Fee" is disclosed based on not waiving fully funded reserves. The "Special Reserve Fee" is only about $198 per unit week. Not $500. Has a final billed amount been sent to owners? Does anyone have the final 2023 budget breakdown that is usually provided with the bill?

 

[MOXJO7282]

This looks to be an estimated budget. That means that the "Reserve Fee" is disclosed based on not waiving fully funded reserves. The "Special Reserve Fee" is only about $198 per unit week. Not $500. Has a final billed amount been sent to owners? Does anyone have the final 2023 budget breakdown that is usually provided with the bill?

This is exactly what happened with the Marriott Monarch and the higher reserve number was dropped and it only ended up being 7.63% higher than 2022. Let's hope this is the case here.

 

[SueDonJ]

This looks to be an estimated budget. That means that the "Reserve Fee" is disclosed based on not waiving fully funded reserves. The "Special Reserve Fee" is only about $198 per unit week. Not $500. Has a final billed amount been sent to owners? Does anyone have the final 2023 budget breakdown that is usually provided with the bill?

The quoted breakdown in Post #5 above (which I moved to this thread for discussion) is what was posted to the 2023 MF's sticky thread by @hangloose. It shows $1,000+ for Reserves on a 3BR unit, and I assumed (I know, I know) it was the actual billed amount since it was posted in the sticky thread.

Post #21 above has quoted info from the Ocean Pointe board that appears to support such a large increase? I agree, though, it would be helpful if @hangloose and @Wahoo could verify that the MF's have been billed as they're posted in the MF's sticky thread and that all owners were sent the same explanation.

 

[billymach4]

When I get back home later this week I will look thru my stack of mail in my inbox. Someone here on TUG must have it handy?
After all this is TUG and there are plenty of Ocean Pointe owners here.

In the interim I am going to check online at my account.

This looks to be an estimated budget. That means that the "Reserve Fee" is disclosed based on not waiving fully funded reserves. The "Special Reserve Fee" is only about $198 per unit week. Not $500. Has a final billed amount been sent to owners? Does anyone have the final 2023 budget breakdown that is usually provided with the bill?

 

[billymach4]

 

[billymach4]

 

[billymach4]

I realize these images may not be easy to read. Let me try and work some editing magic. It's a tough life being me on a vacation at the moment.