- Joined
- Oct 6, 2008
- Messages
- 218
- Reaction score
- 20
- Points
- 378
I happen to be staying a week at Mizner Place in Weston the week of the owner meetings.
Since all 3 meetings were held back to back I attended all three meetings even though I am only a owner at Mizner Place but have been comparing the budgets of Mizner Place to other timeshares I own. The line item for bad debt expense is about 25% of the total maintenance fees. I brought this up at the meeting and the accountant said if the owners didn't make up the bad debt the whole timeshare would go bankrupt. On the other timeshares I own the bad debt runs from 2 to 10 percent. I feel this a real scheme they have going there. It is my observation that the sales department makes no effort to do a very good job of checking the credit of the people buying. I had a reliable source tell me that the sales people's commission is from down payment of the purchaser. So it seems the management company just passes the non payments of maintenance fees to the owners who pay their maintenance fees. I enjoy my stays at Mizner Place , I can only take the traffic at the beach in Fort Lauderdale so long. Weston is a upscale community where I feel safe and real appreciate the pride of the community in maintaining the roads and parks. It doesn't seem that the Vacation Village timeshares have elected board members as other timeshares that could question the budget.
Since all 3 meetings were held back to back I attended all three meetings even though I am only a owner at Mizner Place but have been comparing the budgets of Mizner Place to other timeshares I own. The line item for bad debt expense is about 25% of the total maintenance fees. I brought this up at the meeting and the accountant said if the owners didn't make up the bad debt the whole timeshare would go bankrupt. On the other timeshares I own the bad debt runs from 2 to 10 percent. I feel this a real scheme they have going there. It is my observation that the sales department makes no effort to do a very good job of checking the credit of the people buying. I had a reliable source tell me that the sales people's commission is from down payment of the purchaser. So it seems the management company just passes the non payments of maintenance fees to the owners who pay their maintenance fees. I enjoy my stays at Mizner Place , I can only take the traffic at the beach in Fort Lauderdale so long. Weston is a upscale community where I feel safe and real appreciate the pride of the community in maintaining the roads and parks. It doesn't seem that the Vacation Village timeshares have elected board members as other timeshares that could question the budget.