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

Superchief

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This would be nice. There is one board member at Ocean Pointe who is a member of these forums and has quite possibly been on the BOD from the beginning. I’ve been aware of her for at least 15 years as she was also on an owners Yahoo group. In fact, she was the single reason I left that group and is the primary reason I don’t participate often on the pinned forum on this site. I may read it sometimes but don’t usually feel the need to participate.

Their is to much control by Marriott with to little control by the members who actually pay the fees. I understand Marriott will have their minimum standards to maintain any resort with their name on the building. However, we own at three different resorts and I have yet to be included in any decision making for how the resort spends my money.

The BOD member at Ocean Pointe did include the members on the Yahoo group on some of the decision making, but that appears to be that persons own agenda, not the boards. At any rate, it appeared it was only that select group. When I disagreed, let’s just say the conversation didn’t take a respectful turn and the tone turned adversarial. A discussion often includes different views and, while we might disagree, there is no reason to be disrespectful. I have always appreciated the BOD’s ability to keep the resort looking beautiful and well maintained. I do, however, take issue with a few items. One of which we see on this thread. A lack of good communication with owners and gathering good owner input.

At the time my concern was the addition of several amenities that would require a larger cash reserve to maintain. Ocean Pointe already had, if I recall correctly, a history of 4-5% MF increases. My concern was future affordability for owners at the resort. I know my personal income hasn’t increased at the rate our MF’s have increased and, my concern was adding items that, while very nice, would add unnecessary burden in future costs to the owners without the owners having a say in the changes.

Mother Marriott may very well have mandated these additions. Unfortunately I may never know as I was essentially shouted down by the BOD member. I have pretty thick skin, but if getting a nasty response to what I considered a legitimate concern was the result….. life is too short. I can disagree with someone and still be friends. I won’t tolerate being spoken to in a disrespectful manner and have learned it’s easier to disengage with that person than stand a fight. To that end I’ve learned the block feature on TUG keeps my B/P a little lower when another member seems intent on attacking anything I say or post. I have enough real issues on my plate. TUG is a luxury.
I had a similar experience with the same person and also quit participating in the group. I really don't know how she got on the board and continues to hold a position. I saw no relevant experience in her background and she has no empathy for owners and is actually rude. After the hurricane, Ocean Pointe and MVC management were honoring Encore bookings at Ocean Pointe (and other MVC resorts) over owner exchanges and DC points reservations. She was unhelpful and actually insulted people who were outraged by these policies.

I vote for the board members of six MVC resorts and found only a few to have relevant backgrounds for these positions. MVC management screens the board applications and likely chooses people who will not stand up to their control over resort spending. I also think the forms they use for background qualifications need to be updated, and the election information needs to include how long each person has served on the boards. I'm not aware of any term limits and keep seeing the same names every year on many of the ballots. This situation will only get worse as the trust takes over more of the inventory. How is the trust represented on the boards of each resort? Trust owners should be represented rather than just adding more MVC managers to these boards.
 

Mark55

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New to the forum...we own 2 three bedroom ocean fronts at Ocean Pointe. We were shocked at the 27% increase from 2022 to 2023 and wonder if anyone has any insight or thoughts if this would be a one time thing or should we anticipate this type of increase in the years to come to build up the reserve to meet Florida requirements?
 

Mark55

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New to the forum...we own 2 three bedroom ocean fronts at Ocean Pointe. We were shocked at the 27% increase from 2022 to 2023 and wonder if anyone has any insight or thoughts if this would be a one time thing or should we anticipate this type of increase in the years to come to build up the reserve to meet Florida requirements?
ALSO...does anyone have any input as to the rise in maintenance fees on deeded points in the trust, is there a cap for the increase? Can you help me with the history of increases over the past 5 years?
 

TheTimeTraveler

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New to the forum...we own 2 three bedroom ocean fronts at Ocean Pointe. We were shocked at the 27% increase from 2022 to 2023 and wonder if anyone has any insight or thoughts if this would be a one time thing or should we anticipate this type of increase in the years to come to build up the reserve to meet Florida requirements?


These sharp increases were due for multiple reasons.....

a) Florida reserves need to be built up due to the new law which becomes effective December 2024.

b) The cost of repairing/replacing the Kingfish Building roof

c) Basic inflation


I am not sure where the Ocean Pointe finances stand at this point but I anticipate the maintenance fees will be higher than normal for the next few years.






.
 

Superchief

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I just received this information with my annual meeting notice for Ocean Pointe. It contains a report regarding a recent structural inspection for the buildings a the resort. Here is the executive summary from the report.

Structural components appeared to be in generally good condition. Unsafe or dangerous conditions, as those terms are defined in the Florida Building Code, were not observed. No further Phase 2 inspection is recommended at this time. Exterior wall and roof components also appeared to be in generally good condition, except for those components already scheduled for replacement at Pompano and Kingfish in 2023 and 2024. We observed some localized deterioration or damage to these components in other areas.

There are additional details regarding other repairs that will be needed. I was surprised to see that major roof repairs are already planned for the Pompano building. I recall that last year's special assessment and reserve increases were to cover the roof replacement for Kingfish. Will there be another similar assessment this year for Pompano? I also noticed that the recommended reserve funding level for 2024 is in the 800-1100 range, similar to the $900 last year. The reserves for 2022 were $526, so expect continued high MF's for Ocean Pointe and additional potential assessments for roof repairs.

The BOD and MVC management really need to look for possible reductions to the annual operating costs or many owners will be unable to afford these annual costs. There are definitely opportunities to reduce activities and staff in some areas, and cosmetic improvements to meet MVC'a evolving 'brand standards' need to be scrutinized.
 

dougp26364

TUG Review Crew: Expert
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Marriott Shadow Ridge
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Marriott Destination Club Points
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Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
I wish I could say this surprises me. I don’t anticipate MF’s ever coming down. Right now I’m just hoping we won’t see continued double digit increase for the next several years.

Over the years I’ve been critical of how the HOA and BOD spent owners money, but realistically I was mad at mother Marriott because I believe they’re the ones steering the HOA and BOD. In this case it’s bit the owners squarely on the buttocks and were the ones left holding the bag. Unless of course Marriott is kicking in some $$ to assist in the repairs.

I wonder how long this will remain financially feasible for many owners. When will the bad debt ratio push those of us holding on past the tipping point.

I guess we could all give in and swap out deeds for trust points, but at what cost? We have a little over 15,000 points and we certainly don’t need any more, nor do I want to pay for any.
 
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cubigbird

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I’ve always had conspiracy theories about maintenance fees as a manipulator to get existing owners to do what the developer wants. Not enough existing owners trading in their deeds to fund points trust?….raise maintenance fees and price out the weeks owners. Not enough inventory left to sell? Raise maintenance fees to get owners to deed back. There will always be a buyer at resort presentations. Deedbacks are a huge moneymaker for sales when they can sell it again for full retail. I, too, wonder how financially viable these % increases will be long term.
 
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timsi

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I don't believe Marriott has any motivation to push owners into selling their properties en masse. Their primary goal seems to be maintaining a balance in their inventory acquisition, ensuring they can sell and rent what they acquire. It will certainly be intriguing to monitor their sales over the next year. Many individuals are unhappy about the increases in maintenance fees and may be hesitant to acquire additional points, especially in a period where the post-Covid travel craze may have subsided.

One aspect I'm curious about is who manages all aspects of our budgets, including procurement. Is it a centralized process? Do the resorts handle all their acquisitions directly, or do they need to go through Marriott for that?
 
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