Silver Lake Resort Special Assessment

[Diane62]

We are also Canadian & also bought around that time (1991, when only clubhouse & a couple of buildings). Went more when kids were little & have always thought it was one of the better resorts.
I called in January to pay via credit card & didn’t know until recently that I paid for a special assessment & now they want my maintenance fee. I’m super pissed.
This Capital Vacations is bad for service & don’t care to talk to anyone or reply to emails.
I’m on a number of large boards & think they didn’t follow protocol. The Board of Directors & chair person should be sued for damages. There can’t be many proxies sent in and the votes were whoever lives near by. There is no public view of financials or minutes of board meetings. I did know management changed until after the fact & board now made this decision to charge extra assessment. In theory if this board is just a rubber stamp and doesn’t represent owners properly, this extra charge can be more often. No need for good management practices if you can just raise management fees & make short fall with another fee. This reminds me of some shady partnerships where the board is friendly to management & scams shareholders (because the shareholders can’t get the list of all voters to kick out management). I have a cousin that hosts a business show on US network TV & thinking of getting her opinion, maybe her investigative TV show could expose as I am sure many people get ripped off. I also have a number of friends that are partners at law firms. I usually don’t get angry but now I’m really pissed !!

That's what this needs someone in the USA who can expose this companies dirty dealing as UK based legacy owners who do not wish to convert to Capital we are being ignored by Capital who say that as we will not convert we can no longer access the owners site and our maintenance will increase by 15% every year compared to Capital owners who will only increase by 0.003%! Capital bought Silver lakes and its existing owners and therefore shouldn't be abandoning us.

 

[dioxide45]

If it was a salesperson telling you this, they are likely lying. Don't ever believe a timeshare salesperson in a decision to purchase. Generally converting, upgrading, or whatever they call it is a bad idea. Just continue to use what you own. It will work just fine.

 

[jrb916]

Complete lies & they do it to their US legacy owners also. If MF go up that amount, the CV Point MF will go up that amount or more as the are based on the original deeded properties & have to be paid.

 

[wheniwasyoung]

So as of today, it looks like we are still able to use our RCI Points. Does anyone have any more info on when we can no longer use points with RCI?
Here is what I found on Silver Lakes website under "documents".
NEW BUSINESS Eric Assam explained to the owners a relationship with RCI points. The contract for the RCI points comes up for renewal in 2023 and will not be renewed. The Capital points system will be in place. Anyone who currently has the RCI points program can still continue on with that and will not lose their points. Eric Assam talked about Trading Places which is the new internal exchange company being provided by Capital Vacations.

 

[Kozman]

So as of today, it looks like we are still able to use our RCI Points. Does anyone have any more info on when we can no longer use points with RCI?
Here is what I found on Silver Lakes website under "documents".
NEW BUSINESS Eric Assam explained to the owners a relationship with RCI points. The contract for the RCI points comes up for renewal in 2023 and will not be renewed. The Capital points system will be in place. Anyone who currently has the RCI points program can still continue on with that and will not lose their points. Eric Assam talked about Trading Places which is the new internal exchange company being provided by Capital Vacations.

I tried banking my fixed week unit with Trading Places but was told I could only use RCI. Strange since SL is supposed to be with Trading Places.

 

[Miles K]

We just returned from a trip to silver lake. What a pack of lies. They tried to tell us we had two days lol, who does a two day time share? We have two units 29 and 30.... thats week 29 and 30. We told them to stuff it We were not paying $42,000 for points!
Has anyone considered a class action lawsuit?

 

[dioxide45]

We just returned from a trip to silver lake. What a pack of lies. They tried to tell us we had two days lol, who does a two day time share? We have two units 29 and 30.... thats week 29 and 30. We told them to stuff it We were not paying $42,000 for points!
Has anyone considered a class action lawsuit?

What would you be suing for? If you don't want to hear lies, stop going to timeshare sales presentations.

 

[Miles K]

What would you be suing for? If you don't want to hear lies, stop going to timeshare sales presentations.

Our points and ownership as a deed this is whats on our contract.

 

[dioxide45]

Our points and ownership as a deed this is whats on our contract.

I'm still not sure what you would be suing over? That they tried to tell you that you only owned two days vs two weeks?

 

[wheniwasyoung]

Did anyone get the letter requesting that you update your info and register as a Capital Vacation member? Haven't read the fine print yet but wondering if it commits you to anything that we don't want?