Sheraton Vistana Resort Special Assessment[MERGED]

[Ken555]

When someone on ebay is selling a time share rental, they're just selling a week's vacation to someone right? Not selling the actual timeshare.

Yup. A rental is a rental, not the sale of a deed.

 

[Jeffy3]

Yup. A rental is a rental, not the sale of a deed.

Where are all the so-called Vistana deeds for sale on eBay? I think I saw one. Other posters made it sound like a glut of them just went up.

 

[Ken555]

Where are all the so-called Vistana deeds for sale on eBay? I think I saw one. Other posters made it sound like a glut of them just went up.

There are almost always 3-10 Vistana's listed on eBay, plus others from SDO. Just search eBay for "sheraton timeshare" and you'll find a lot.

 

[DeniseM]

In the Owner Resources sticky will you find 2 links to search ebay for Starwood properties, listed under the Buying & Selling heading.

Current Starwood Auctions & completed Starwood auctions.

 

[jjlovecub]

I have emailed the Board (again) and am waiting a response. I submitted it with it an estimate for my home to be refurbished with all new countertops, cabinents, new tile and appliances, and everything else under the sun. Basically a complete rework....The bill came to $57K and change. I have a 2500 sq ft 4 BDR home and some how it is $30K cheaper than each unit. And they are getting a bulk deal on supplies. Can't wait for the response. Oh wait, I probably won't get one

 

[Jeffy3]

I have emailed the Board (again) and am waiting a response. I submitted it with it an estimate for my home to be refurbished with all new countertops, cabinents, new tile and appliances, and everything else under the sun. Basically a complete rework....The bill came to $57K and change. I have a 2500 sq ft 4 BDR home and some how it is $30K cheaper than each unit. And they are getting a bulk deal on supplies. Can't wait for the response. Oh wait, I probably won't get one

Keep us posted !

 

[Joshadelic]

I have emailed the Board (again) and am waiting a response. I submitted it with it an estimate for my home to be refurbished with all new countertops, cabinents, new tile and appliances, and everything else under the sun. Basically a complete rework....The bill came to $57K and change. I have a 2500 sq ft 4 BDR home and some how it is $30K cheaper than each unit. And they are getting a bulk deal on supplies. Can't wait for the response. Oh wait, I probably won't get one

I CAN'T WAIT TO HEAR THIS!!!

 

[Ken555]

Oh wait, I probably won't get one

While it's a significant effort, you do live in Florida. Perhaps you might convince yourself to go to the next public Board meeting at Vistana? Ask them the question during a public session - they've got to offer one...

These fees to remodel the units are extremely high and make no sense to me, or any of us! What are they thinknig? Oh, wait... it's Florida... 50% profit must go somewhere...

 

[Dave55123]

Ebay Auctions

I've seen some for rental, but most are for clear title. I see people trying to dump the timeshare due to limited use or special assessment IMHO.

 

[Jeffy3]

So who is going to sell there's and who is going to roll over and pay the assessment?

 

[GKK]

We're going to try to donate ours!
GKK

 

[Jeffy3]

We're going to try to donate ours!
GKK

I would like to sell for just the asessment fee, but something tells me even that would be asking too much! I'm really irritated by this whole thing. I would like to know why they need the money so early, why they need it in such close-together installments, and why it's so much more than most reasonable people think it should be.

( we own a fixed week at a court townhouse )

 

[CeeWoo]

We paid the assessment in Fountains over the last couple years and I can feel your pain.

We just got back from Vistana and stayed in a 2BR fountains unit. It's nice but I still wonder if it's worth what they paid (or at least collected) to do the remodel. HOWEVER, since we no longer will normally be traveling with our kids (they're now 20 yrs old). Future trips using StarOptions will give us 2 full weeks in a 1br or about a week & 5 days in a 1BR Premium (either Vistana or the Villages). I'm guessing the other areas will have the choice of whether or not to join SVN after they have collected the $ for the remodels there. Now the question becomes "how much success will I have using staroptions to get to the 1br units or even moving to other resorts?" We're considering going back next May so I just might find out soon.

Slight change of topic--we went to the sales pitch while there and when the guy assigned to us kept saying that ALL the owners had 'agreed' to the special assessments, I kept correcting him and saying that I had never agreed to any such thing. After doing that a couple times he started saying "The board who represents all the owners". He said if I don't agree with the board I have every opportunity to become a board member. My reply was "sure and I could become president of the US, but that's not gonna happen either". (You wouldn't even want to hear how the conversation turned when he talked about how reserves would pay for any future improvements) He couldn't get us out of the sales area quick enough LOL

 

[Linda74]

I am very interested in donating my Vistana week, especially since my husband has been diagnosed with cancer.....does anyone have the name of an organization that would take it and do you think it could be donated without paying the assessment????

 

[DeniseM]

I am very interested in donating my Vistana week, especially since my husband has been diagnosed with cancer.....does anyone have the name of an organization that would take it and do you think it could be donated without paying the assessment????

Hi Linda - I am so sorry about your husband.

Unfortunately, charities want a week with all fees paid that they can turn around quickly, so I'm not sure if that will work for you or not. Here is more info. in case you want to look into it: scroll all the way down to the bottom of this page.

Have you considered selling it for $1 on the TUG Bargain Basement Board with the stipulation that the new owner pays all fees?

Let us know how it goes!

 

[woosterjc]

Courts Unit

Has any court owner filed a complaint to the state of Florida for these high assessments and for us not having a say in what we want?

Also why the Courts board not respond to us owners directly if we send mail or email to them?

We may also start a petition to stop the assessment,

James

 

[GKK]

I agree with James...I hope something is done. As I said in an earlier post, where have they been using the replacement reserve we have been paying since 1996. We did not pay that when we bought in 1983, then in '96 it just suddenly appeared on the maintenance bill and has doubled since then. They evidently did not use it to remodel anything, because all we have heard from visitors for years, is what a dump the courts are.
They want us to start making the first payment in Nov., since when do you pay for something 2 years before work is even started. Hopefully something can be done.
GKK

 

[jjlovecub]

He said if I don't agree with the board I have every opportunity to become a board member.

LOL - as someone who has TRIED to get on the Board for a year now - I assure you it is not easily done.

 

[CeeWoo]

I assure you it is not easily done.

Especially when existing board members can easily send proxy forms to every owner and basically get their support without saying a word as to what they want to do. ie: they 'almost' get to elect themselves

(btw-as per my previous post---I used options yesterday to make reservations for next May in a 1br premium with no problems at all, so there is a potential payoff in the future for the $ I paid in the Spec Assessment since they gave me free SVN membership)

 

[James1975NY]

Hi guys,

As a comparison.....we just received our Cascades renovation fee schedule. Have been owners since 1989. Started in Springs then switched to Cascades when it opened.

$95,100.00 per unit
$17,700.00 per unit covered by reserves.

Which leaves $1,571.00 per 2 bedroom week(WEEK).....on top of normal maintenance / taxes.

The last FAQ that they give is "How do I sell my Villa?".......so they quite possibly might be wanting people to sell by the OUTRAGEOUS costs. That FAQ just seems way, way out of place.

....and what do you think "other/contingency" to the tune of $18,000.00 per unit week might be referencing?

I really thought that this was why the annual maintenance / tax fees were so high. To repair and replace.

Somebody(s) really screwed up......or is everything going as planned!?

steve

I suggest writing to your board of directors to get your answers. As mentioned earlier in this thread a vote must have taken place and approved. Your yearly maintenance fees cover for maintaining....not updating. Hopefully with the costs that are planned there is a lot of updating...

 

[Ken555]

Your yearly maintenance fees cover for maintaining....not updating.

James,

Sorry, you are incorrect. As part of most HOA maintenance fees there is a "reserve fund" which is not for maintenance, but intended for replacing fundamental structural and cosmetic items which predictably wear out over time. In other words, a reserve fund is typically used to slowly store money for the eventual replacement of roofs, elevators, painting, etc. With timeshares, that reserve fund should naturally include internal unit updates. Whether or not there is a reserve fund at all is a good question, though I believe I read elsewhere on these forums that most (if not all) of the Orlando properties have them.

Reserve studies are performed by a third party on a regular basis (mandated by law in most States) which objectively show how well the reserve is funded and recommends appropriate changes to keep the reserve in sync with expected expenses. The Board of each HOA may elect not to adequately fund their reserve fund, with the obvious eventuality of forcing its owners to pay substantial amounts when major updates are necessary.

I'd like to see more information on the reserve funds for the Starwood resorts. How much is in the funds (one for each resort)? If it was insufficient for the updates, then what did the reserve studies show over the last 10 years? Were those reserve studies available for all owners to review? Did the Board know years ago that large special assessments would be required? Perhaps we should get copies of the Board minutes & resolutions from the last 10 years and see what really happened there (assuming the minutes are accurate).

There are ways for a HOA Board to artificially reduce maintenance fees - and one of the prime methods is simply not to adequately fund the reserve.

Of course, the reserve and special assessment amounts need to be balanced by the wishes of the membership. It is apparent there there has been a disconnect between those groups, especially as many owners seemingly had no opportunity to present their views or even vote on the special asssessment. FYI, at least in California, HOAs are now required to have a secret mailed (must be postal mailed in a double envelope) ballot for Board elections and special assessments. And, I believe that special assessments must typically pass by 2/3 or so, not just 50% + 1.

Ken

 

[Jeffy3]

Has any court owner filed a complaint to the state of Florida for these high assessments and for us not having a say in what we want?

Also why the Courts board not respond to us owners directly if we send mail or email to them?

We may also start a petition to stop the assessment,

James

I'm really new to all this. Does anyone know if there is a way to get a list of all the homeowners in the courts?

 

[Jeffy3]

This really has me agitated. They're assessing us with townhouses possibly 3 times than what it would normally cost to do the work, so one would assume that zero percent of this is coming from the maintenance fees we've been making all along.

 

[LisaRex]

I'm wondering if the assessment doesn't include some sort of major exterior upgrade, such as a new pool....

 

[botham]

Surely one of our members must be a lawyer, who can advise us all?