• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 26 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG has now saved timeshare owners more than $14,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $14 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Special Assessments

SteelerGal

TUG Member
Joined
Mar 8, 2019
Messages
1,217
Reaction score
514
Points
174
Resorts Owned
WKV, SDO, HPP, Bay Club
Our Independent is putting for a Special Assessment to refurb and to correct unfunding. I am for the assessment because it will help in the long run.
My question is when have owners decided against an assessment and how did it affect the resort long term?
 

RNCollins

TUG Lifetime Member
Joined
Jan 2, 2016
Messages
1,798
Reaction score
667
Points
274
Location
Hudson Valley, NY
Resorts Owned
Tradewinds, Divi, Quarter House
We just had a special assessment at one of my resorts. I didn’t realize that owners could decide against assessments.
 

DrQ

TUG Member
Joined
Jun 13, 2005
Messages
1,494
Reaction score
974
Points
323
Location
DFW
Resorts Owned
HICV, Westgate (second cousin, twice removed)
At our independent, it was written in the bylaws that a majority of owners could vote down a special assessment within 30 days of it being enacted.
 

SteelerGal

TUG Member
Joined
Mar 8, 2019
Messages
1,217
Reaction score
514
Points
174
Resorts Owned
WKV, SDO, HPP, Bay Club
Our bylaws require it to be approved by Board then owners vote.
 

geist1223

Guest
Joined
May 20, 2015
Messages
2,961
Reaction score
2,417
Points
299
Location
Salem Oregon
Resorts Owned
Worldmark 89,000
Seaside Oregon Residence Club
DRI Hawaiian Collection 50,500
Royal Solaris San Jose del Cabo
From what I have seen Special Assessments occur primarily for one of two reasons:

1. The HOA BOD kept the MF's artificially low. Then there is a need for a major refurbishment but there is not enough money set aside.
2. A major weather event occurs and the HOA BOD had insufficient insurance.
 
Top