VRI bill arrived

[susette]

I am NOT Paying this Special Assessment

I just got my Cape Cod Holiday Estates bill and its also $2795, with no explanation as to the Special Assessment.

So I called and the desk clerk said I should have received a letter last month explaining the charges.

I never received a letter, and I did not authorize this fee. I told him that the fee was more than my mortgage and I was not going to pay it. He told me to write the board.

Here is what I think...

CCHE is SUPPOSED to have a money reserve in place to pay for condo upgrades and any other required maintenance, including road work etc.

Where is the reserve? What have they spent our money on?

Every year they hit us with a bill for a special assessment. This is either the most expensive condo complex in the U.S. or our money is being sadly mismanaged.

My unit is suppose to have 50 owners. That means they just billed over $140,000 alone for my unit as part of this special assessment. Even if 30 of those owners have defaulted, they are trying to receive over $58,000 for my unit this year.

I am ABSOLUTELY not paying this bill. And I don't think anyone else should pay their bills either.

To be honest, I am starting to think we are being scammed by this Board. They overcharge us every single year and I am so tired of it.

GETTING AN ATTORNEY
What i am going to do is call my father tomorrow. He is an an attorney in Massachusetts and lives on the Cape. I'm also asking for an itemized statement of exactly where our money has gone in 2009.

If anyone has any information about this Special Assesment, or CCHE budget these past few years and would like to share it with me, I'd greatly appreciate it. I'll send it to my father.

AND if this Board has been ripping us off by overcharging us, or using our money inappropriately, I am taking that information direct to the MA Attorney General's office.

Any information you have would be greatly appreciated. My email is eurotraks@yahoo.com

Thanks,
Sue

 

[pedro47]

I have read this thread several times now and I have concluded that it's takes a very knowledge person to be on a t/s board.

 

[timeos2]

Rare case that VRI hasn't got the Board to pass along the needed information

I have read this thread several times now and I have concluded that it's takes a very knowledge person to be on a t/s board.

It seems this Board isn't doing a good job of communicating what is going on at the resort and why these fees are being charged. This is item one on any successful operation and in handling the never pleasant situation that any special assessment brings up. Open and frank communication of all available information is crucial to minimizing complaints and getting owner input and buy in. I'm surprised that apparently this Board hasn't done all it can to make this an open and interactive process. Big mistake. When owners have to come to TUG to attempt to get answers something is seriously amiss with the process.

 

[susette]

CCHE Members - Let's Organize

I think it was TREE who said that the CCHE members should get together and request an explanation. I completely agree.

I have serious concerns that we have a Board that does not communicate and instead sends us a $2800 bill and just expects us to pay for it. WHO DOES THAT?

Shouldn't we have been allowed to vote on this total renovation? Where is the transparency for these SA? I feel like this board has never been communicative.

To be honest here, I own the first week of January. My week is NEVER going to be worth very much. I only have it in case I want to visit my family once in awhile. So paying this SA is really not in my best interest. Nobody is ever going to want to trade or buy my week.

At this point I really just want to get rid of my unit but I can't figure out how. I don't want to default on it, but I don't want this hassle anymore. There are much cheaper beach-front condos out there than CCHE.

Short of giving this until to someone about to declare bankruptcy, I don't know how to get rid of it. I already tried to sell it and nobody would buy it.

Any advice is appreciated.

Sue

 

[susette]

Calling an Attorney

sorry, this was a duplicate.

 

[Shiz]

BAIL!!! No sense putting good money after bad especially if you don.t have a prime red week. You can take the SA moiney and buy an oceanfront T^S. See if the BOD will tell you how many units the HOA now owns and what it will own after SA. All thev money in the world will not put the TS on the ocean where the value of Cape Cod lies.


ps: This SA will cause a lot of owners to bail out leaving the rest with higher MF. Good luck.

Surfside is a nice property, but don't act all high and mighty. Those units are tiny, and anyone with a large family can tell you the value of the larger houses.

The fact you keep suggesting bailing on VRI and going down to Surfside/Captains Quarters makes you sound like one of the slimey sales employees that InnSeason is known for.

 

[susette]

called my attorney

Considering the next meeting is Dec 3, and I have been told I cannot allow a proxy to sit in on the meeting, I have called my attorney.

I'm very concerned about the lack of communication by the board to unit owners who do not live in the MA area. He is looking into the Board's requirements and responsibilities regarding communication to unit owners, and this renovation and S.A.

I'll let you know if anything turns up.

S

 

[susette]

When was the Owner's Vote for this Renovation?

This is to all the CCHE unit owners out there. Do you happen to know when the owners vote for this renovation took place??

I don't recall voting on this, but apparently this decision was made some time ago. Anyway, if anyone can tell me when this vote took place, I'd appreciate it.

Thanks
Susette

 

[timeos2]

No owner vote required

This is to all the CCHE unit owners out there. Do you happen to know when the owners vote for this renovation took place??

I don't recall voting on this, but apparently this decision was made some time ago. Anyway, if anyone can tell me when this vote took place, I'd appreciate it.

Thanks
Susette

You appear to be under the impression that the owners are required to vote on a renovation or special assessment or both. That is not the case. You are entitled to vote for your Board representatives who have the right to decide on the need for renovations, improvements, budgets, special assessments, etc. If you don't agree with what they decide you can vote new Board members in. Unless the Board decides to hold an owner vote they are not required to do so. It's like your government vote. You vote for the representatives and they decide what to tax you. They don't have to go back to you for an approval.

 

[susette]

oops I have that wrong. I'm not sure if its MA Law or in the CCHE Board rules. But apparently, the CCHE Board was supposed to put this to a vote.

 

[Corky]

Any word on how the CCHE meeting went?

 

[Vaca720]

The board decided to go ahead with renovations as planned. They did however vote that the special assessment payment could be deferred until July or even until January 2011 (with a $40 fee).

 

[Corky]

Thank you for the update. Just to be clear, does that mean that the entire special assessment can be deferred until Jan 2011 for a fee of $40?

So, as long as we pay our regular maintenance fees we will be permitted to use our units?

Do you know if there was a heated argument at the meeting or any consideration of scaling down the cost of the renovations?

 

[Vaca720]

Yes, the first installment would be $460 Jan 2011 and the subsequent years would be $420. The regular maintenance fee can be set up on payment plans as well so that's a good option to spread it all out.

There was discussion on revising the renovation plan but they had already hashed it out in so many meetings prior.

 

[Corky]

Thanks. That delay provides some breathing room.

I'm still not convinced all the renovations are necessary or that the best price was found. Seems excessive.

 

[palmtree7339]

Susette, you are incorrect.

oops I have that wrong. I'm not sure if its MA Law or in the CCHE Board rules. But apparently, the CCHE Board was supposed to put this to a vote.

Susette, your assumption is incorrect.
The Board indeed does has the fiduciary authority and responsibility to act in behalf of the owners, which they did. A S.A. does not require a vote of the owners for implementation. This is clearly legal in Mass. and also virtually everywhere else in the US. It also is clearly stated in the condo documents that you should have received upon purchase of your unit at CCHE. I hope this info finally clears up this matter, in your mind.
You sound as if you would like to understand further details on this renovation project, especially as to why it was deemed absolutely necessary for the Board to proceed at this time.
In addition to the numerous mailings, with photo's attached, which were sent to you and all other owners, prior to receiving the S.A. notice and
billing, you are entitled to contact the CCHE Board, the Resort Gen. Mgr., the Management Co., VRI., or all three.
They will be most pleased to have the opportunity to answer all of your inquiries. You can also contact me, and I will be sure to respond to you.
Hope this helps you.

Palmtree7339, TUG Member.

 

[CharlesS]

What about a proxy?

Considering the next meeting is Dec 3, and I have been told I cannot allow a proxy to sit in on the meeting, I have called my attorney.
S

Any follow up on the proxy question? I have used a proxy at a different resort HOA with no problems.

Charles

 

[palmtree7339]

Proxies attending CCHE Bd. Mtg's

Owner are entitled and welcomed to attend every CCHE Bd. Mtg. as well as the Annual Owners Mtg.. Proxies are not owners. Simple as that.

 

[e.bram]

BAIL!, BAIL! BAIL!. Most of the units will not be worth anything even after the renovation.

 

[palmtree7339]

E.Bram, you are mistaken.

E.Bram,

I do not understand your logic in recommending to CCHE owners, of which you happen not to be, to "bail", rather than support their BOD in the ongoing efforts to maintain and improve their vacation property.

Within 5 years, all 32 individual homes, each about 30 years old, will be virtually brand new, from the exterior walls inward.

What is to be gained by owners bailing? By walking away and not paying their MF & SA, they lose their interest in a Premier vacation Resort, located in a fabulous spot on Cape Cod, which has received Gold and Silver Crown Award designations from RCI EVERY YEAR since 1985, the year the developers turned the property over to the owners elected Board of Directors, (who, by the way, happen to have currently 3 Bd. members with the experience of serving during this entire 25 year period).

The answer is that such owners will lose the opportunity of being able to continue to enjoy the greatly improved facility. The unit will be foreclosed upon, will be rented to others with the rental income going to the Resort, or will be sold to interested buyers. All owner exchange privileges will be terminated as well.

The owner gains nothing.

As a non-owner at CCHE, you can be somewhat excused for not recognizing the full value of ownership at Holiday Estates.

I happen to be an owner since 1985, and would hope that fellow owners disregard your comments to "bail".

Palmtree7339

 

[timeos2]

Don't let the whining win

E.Bram,

I do not understand your logic in recommending to CCHE owners, of which you happen not to be, to "bail", rather than support their BOD in the ongoing efforts to maintain and improve their vacation property.

Palmtree7339

Palmtree - Take the comment for what it is. Some tend to be very negative about the whole timeshare world and try to make others pay for the mistakes they feel they made. While each owner has to decide what is best in a given situation for them a post like that, which is not unique to this thread but is representative of an anti-owner/resort attitude posted at every opportunity by some, really doesn't carry much weight with owners. They know what they have and how hard it is to keep things looking good. Most will realize that an owner Board is working for them and will support the efforts. I hope your resort does see the improvements planned and that your owners continue to enjoy great vacations at a resort they love.

 

[e.bram]

CCHC will be available on Ebay for a $1.00 even after the renovation and will make even harder(if not impossible) to sell with SA hanging over it now. Onlyowners who will benefit(maybe) are prime week owners(26-33). They probably compose the BOD and are for it. The property has more value if liquidated and made ito full ownership units.

 

[JACKJMP]

Cape Cod Holiday Estates S A

HERE IS WHAT THE BOD SENT BACK TO US.
Dear Cape Cod Holiday Estates Owner,



This letter is to make you aware that your board of trustees recently met and discussed at length the input and concerns brought forth by owners in regards to the special assessment. The amount of the assessment will not be changed but they did all agree to defer the payment to allow owners more time to pay. Owners now have the option of deferring the first payment ($420) until July of 2010 or until January 2011 with an additional $40 fee on the first payment ($460). They understand that the delay in getting the special assessment mailing out and then the billing was short notice for 2010. Your regular maintenance fee of $695 is due in January as normal unless payment arrangements have been with the resort or VRI.

THIS DOES NOT LOOKS TO ME LIKE HELP. IT LOOKS LIKE $80.00 INTEREST BY DEFERRING PAYMENTS THE FIRST YEAR!
WHAT IS THE REAL PROBLEM HERE? BOD OR VRI?
JACK

 

[timeos2]

The problem isn't the who but what is needed.

THIS DOES NOT LOOKS TO ME LIKE HELP. IT LOOKS LIKE $80.00 INTEREST BY DEFERRING PAYMENTS THE FIRST YEAR!
WHAT IS THE REAL PROBLEM HERE? BOD OR VRI?
JACK

If the payment is delayed for only those owners that choose that option there is a cost. The "problem" isn't with either party you name as VRI is merely implementing the policy/decisions of the Board. The need for a SA is the underlying problem but once it's needed its needed - there is never a good time or amount. The Board has done what they can to lessen the impact, but it's still going to be due.

 

[timeos2]

Make it better and enjoy

CCHC will be available on Ebay for a $1.00 even after the renovation and will make even harder(if not impossible) to sell with SA hanging over it now. Onlyowners who will benefit(maybe) are prime week owners(26-33). They probably compose the BOD and are for it. The property has more value if liquidated and made ito full ownership units.

The suggestion that owners bail and then buy back in once the resort goes to whole ownership, even if that could be done (unlikely) the bottom line cost would be FAR more than the current plan represents. Truly ludicrous. What the owners need to do now is to concentrate on getting their resort back in shape and protecting what they have already spent. Support the Board and the resort if you wish to protect your investment.