Pagosa Fees 2012

[levatino]

Eagle's Loft Fees went from $741.88 up to 851.94. Seems a bit excessive to me.....

Anyone have any other thoughts to share?

I am including maintenance fees, reserve fund & taxes...

From my online statement:

Wyndham Pagosa

Maintenance Fees $621.46
Reserve Fund $216.19
Property Tax $14.29
TOTAL $851.94

Thanks, Paul

 

[rrlongwell]

Fees went from $741.88 up to 851.94. Seems a bit excessive to me.....

Anyone have any other thoughts to share?

I am including maintenance fees, reserve fund & taxes...

Thanks, Paul

Probably will be seeing more of this across the Wynhdam System with the continuing emphisis on building the Wyndham Rental Business for profit.

 

[ausman]

Pagosa, I believe has both UDI and fixed weeks in Wyndham.

The question should be addressed to the Pagosa HOA or equivelant for what the MF is.

Wyndham did for 2011, add an additional amount, about 5-7%, over and above one of my converted fixed weeks MF, for debatable reasons.

You might be looking at an increase in MF and some WYN add on. Start with what the HOA says the MF should be. The explaination may be there.

 

[ronparise]

Pagosa, I believe has both UDI and fixed weeks in Wyndham.

The question should be addressed to the Pagosa HOA or equivelant for what the MF is.

Wyndham did for 2011, add an additional amount, about 5-7%, over and above one of my converted fixed weeks MF, for debatable reasons.

You might be looking at an increase in MF and some WYN add on. Start with what the HOA says the MF should be. The explaination may be there.

Im not sure wyndham can add anything onto the maintenance fee. except the program fee

I found something new (new to me)on the website under
"my membership"/"financial services"/"assessments"/"printed statements"

Its a summary of my four contracts (all converted fixed weeks) with a breakdown by contract for maintenance, reserves and taxes. Also a letter with a discussion of how the program fee is calculated

Ive yet to see the bills or budgets from the individual resorts, but at least for the moment I can compare the statement for next year with the current information, to see what when up and what went down

At the four Wyndham HOA's where I own; one went up 5%, one 3%, and two just 1%

Overall for my wyndham ownerships maintenance fees went up 1.7%

 

[Cheryl20772]

Fees went from $741.88 up to 851.94. Seems a bit excessive to me.....

Anyone have any other thoughts to share?

I am including maintenance fees, reserve fund & taxes...

Thanks, Paul

I'd say that's a huge difference! The home owners' association should have sent you a budget before the annual meeting. For our Panama City resort, it shows a breakdown of just about everything and it's listed with this year next to the upcoming year; so we can see where the changes are. We get the same kind of break down for another resort we own that's not in Wyndham. Didn't you get something like this for Pagosa? Maybe someone on the forum who owns at your resort has a copy they can share (if there is such a thing for that resort).

 

[ronparise]

I'd say that's a huge difference! The home owners' association should have sent you a budget before the annual meeting. For our Panama City resort, it shows a breakdown of just about everything and it's listed with this year next to the upcoming year; so we can see where the changes are. We get the same kind of break down for another resort we own that's not in Wyndham. Didn't you get something like this for Pagosa? Maybe someone on the forum who owns at your resort has a copy they can share (if there is such a thing for that resort).

Cheryl

I got a budget for my unconverted weeks at Avenue Plaza. but not for my converted weeks at Fairfield Harbor or Fairfield Glade

 

[Cheryl20772]

The numbers Paul reports show a huge reserve fund ($216) annual amount. I'm going to guess, the HOA hasn't been taking enough in the past and now needs to make refurbishment or repairs. We pay in the range of $54 building reserves annually for our beachside resort in Daytona.

$216 looks kind of like a special assessment rather than a reserve fund. Shouldn't there be some kind of explanation?

 

[rrlongwell]

... The numbers Paul reports show a huge reserve fund ($216) annual amount ... $216 looks kind of like a special assessment rather than a reserve fund. Shouldn't there be some kind of explanation?

Went to the Pagosa Vacation Owners Association web page.
http://www.wyndhampagosa.net/
Went to their Rental Page.
http://www.wyndhampagosa.net/rentals.htm

It is interesting to note that their rental program is through Extra Holidays (Wyndham). I think it goes without saying that it is in Extra Holidays best interests to have the resort in as good as shape as possible to support their rental arm. Therefore, I think the speculation that the development of a war chest for resort improvements could very well be right. The owners pay for the upgrades with the intent of increasing the rental value. I understand that Wyndham gets 30 to 40 percent of the rental income. I am completely amazed that The Owners Association has a rental program that uses Extra Holidays instead of just having their management company just rent units for the owners from the front desk thereby keeping the rental percentage “in-house”.

 

[ronparise]

Went to the Pagosa Vacation Owners Association web page.
http://www.wyndhampagosa.net/
Went to their Rental Page.
http://www.wyndhampagosa.net/rentals.htm

It is interesting to note that their rental program is through Extra Holidays (Wyndham). I think it goes without saying that it is in Extra Holidays best interests to have the resort in as good as shape as possible to support their rental arm. Therefore, I think the speculation that the development of a war chest for resort improvements could very well be right. The owners pay for the upgrades with the intent of increasing the rental value. I understand that Wyndham gets 30 to 40 percent of the rental income. I am completely amazed that The Owners Association has a rental program that uses Extra Holidays instead of just having their management company just rent units for the owners from the front desk thereby keeping the rental percentage “in-house”.

How does inventory get into the extra Holidays program??
I think 3 ways 1) individual owners give up their weeks to the program, and pay a 40% commission 2) unsold units...no commission, Wyndham gets it all 3) owned, unreserved units. At the 60 day mark Wyndham can take inventory and rent it

The question in my mind is; for 2 and 3 does the POA get a cut....If not thats just wrong...these units should be available to us at a discount

 

[djohn75087]

strange

I own a fw 2br plus at Pagosa converted to 182k pts and my mfs went down this year, however they did hit me with a $374 SA so I guess in reality they really went up.

 

[rrlongwell]

How does inventory get into the extra Holidays program??
I think 3 ways 1) individual owners give up their weeks to the program, and pay a 40% commission 2) unsold units...no commission, Wyndham gets it all 3) owned, unreserved units. At the 60 day mark Wyndham can take inventory and rent it

The question in my mind is; for 2 and 3 does the POA get a cut....If not thats just wrong...these units should be available to us at a discount

I do not know if they do or not. A forth way, according to staff at Governor's Green is that the POA gives theirs to Wyndham Extra Holidays to rent.

 

[jjmanthei05]

Probably will be seeing more of this across the Wynhdam System with the continuing emphisis on building the Wyndham Rental Business for profit.

Because of the florida tax change last year (and double billing of them) there may be quite a few owners that see a reduction in the overall bill. For example mine last year was $2,815 and this year's is $2,681 which is about a 5% overall reduction for me.

My breakdown

Brandon 4%
Grand Desert 1%
Smokey Mountains 5%
Star Island -17%

Jason

 

[abbekit]

i own a fixed week at Wynham Pagosa, Village Pointe

2BR, Lock-off unit (each side is a full 1BR unit, with A side being larger and better appointed)

My 2012 MF went from $650 to $681, didn't seem too bad to me. Maybe we have a better HOA at Village Pointe who holds down the costs.

 

[rrlongwell]

Found the following on the web site. From the same cite, it also indicated that this association is or was auctioning off a number of owed units to owners.

"Our Eagle's Loft Board of Directors has to reluctantly announce an increase of $87.00 per year in our maintenance fees. The fees will increase from $675.00 to $762.00 for the calendar year 2012. The elected board of directors tries hard to balance the control of expense with the need to maintain a quality resort experience for the owners to enjoy. We review each line item in the budget, and alternatives are sought in order to keep expenses as low as possible.

Wyndham has made the decision to market a vacation product called Club Wyndham Access. Basically, as I understand, Wyndham will sell units, and as they are sold, each association will receive the proper allocation of maintenance fees. That should help us to keep our increases in maintenance fees at a lower level. I am confident that this will help the overall resort."

http://www.wyndhampagosa.net/eagles_loft_president.html

 

[myhottoddy]

Pagosa Fee Increases and Walk Away

I have owned at Eagles Loft several years and have seen MFs continue to rise. To my knowledge all of the units have recently been updated including adding air conditioning that is not needed at 7,000+fee elevation. I will be complaining to the HOA. I own 507,000 resale points with Wyndham at 3 locations. We have been recently satisfied until the trade power reductions with RCI.

We are now considering dumping our ownership. Yes we take better vacations, but can no longer justify the expense vs. renting.

I am retired and no longer need credit. I am thinking about stopping my automatic payments of MFs. Nothing owed on the units. What recourse does the HOA have?

 

[ausman]

Im not sure wyndham can add anything onto the maintenance fee. except the program fee

You may not be sure but I am.

levatino needs to come back to the topic.

Seems simple enough, compare the HOA charges to WYN charges.

 

[jjmanthei05]

I have owned at Eagles Loft several years and have seen MFs continue to rise. To my knowledge all of the units have recently been updated including adding air conditioning that is not needed at 7,000+fee elevation. I will be complaining to the HOA. I own 507,000 resale points with Wyndham at 3 locations. We have been recently satisfied until the trade power reductions with RCI.

We are now considering dumping our ownership. Yes we take better vacations, but can no longer justify the expense vs. renting.

I am retired and no longer need credit. I am thinking about stopping my automatic payments of MFs. Nothing owed on the units. What recourse does the HOA have?

They can sue and go after your assets to cover the costs of the foreclosure and past due maintenance fees/ special assessments. If there aren't enough assets to cover the total, they can also garnish any income you have up to 25% to cover the remaining judgement and it accrues interest at 12% a year. At least that is what can be done in my state (Wisconsin). Other than that, not much.

Jason

 

[levatino]

You may not be sure but I am.

levatino needs to come back to the topic.
Seems simple enough, compare the HOA charges to WYN charges.

The fees I quoted in my original post are the only fees I include in getting to $851. I have not included the program fee.

Also, the reserve fee has been over $200 for at least 2 years.