Do all owners , including the developer, have to pay assessment fees. The developer in our association is also the president of the owners association. As such he has never paid assessments for the weeks he owns. He claims to be able to vote these, but not paying assessments shouuld make him inelgible.
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Who pays assessments
- Thread starter merkel
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[triennial - points]
All Owners Have To Pay, Mox Nix.
The HOA-BOD members pay.
The timeshare company pays for all units it still owns.
Regular walking-around timeshare owners pay.
Nobody skates on annual fees & special assessments.
The official condo documents should have something to say about whether people not in good payment standing are allowed to continue in office with the homeowner association.
Everybody pays.
The HOA-BOD members pay.
The timeshare company pays for all units it still owns.
Regular walking-around timeshare owners pay.
Nobody skates on annual fees & special assessments.
The official condo documents should have something to say about whether people not in good payment standing are allowed to continue in office with the homeowner association.
-- Alan Cole, McLean (Fairfax County), Virginia, USA.
Read the documents - carefully
Usually all owners, developer or not, owe for any assessment (annual and any special fees). But its never that simple. How the documents were written (its that developer that held the pen) may impact what is owed and by whom. Often there are provisions that in the early years the Developer only has to make up any shortfalls in budget rather than pay the full fees while the resort is under active sales. Some developers may try to stretch that far beyond it's intent and say they still don't owe the full fees a decade or more after the resort was built. A careful read may reveal that they aren't playing fair. You may also find that there are provisions that require the developer to step back and turn control over to the individual owners after XX years or a percentage of the total propject is sold. Again some developers like to act like they control things long after it should be in the individual owners hands.
Take the time to read that 400+/- page book that they are required to give buyers (the disclosure). That is what sets the rules and must be followed by all owners including the developer. Don't rely on the developer/management to interpret things as they wrote it and will obviously tip it toward their own benefit. You actually hold the upper hand as since they wrote the document anything tat has two sides will be interpreted in favor of the individual owners NOT the developer. Of course this can get ugly should the developer play hardball (Wastgate immediately comes to mind - they seem to feel the state laws and written documents somehow don't apply to them). You should be prepared to have an attorney that is familiar with timeshares ready to give you legal support.
Bottom line everyone should be paying their fair share. It is up to the owners to be sure things are being done per the condo docs and within the law.
Usually all owners, developer or not, owe for any assessment (annual and any special fees). But its never that simple. How the documents were written (its that developer that held the pen) may impact what is owed and by whom. Often there are provisions that in the early years the Developer only has to make up any shortfalls in budget rather than pay the full fees while the resort is under active sales. Some developers may try to stretch that far beyond it's intent and say they still don't owe the full fees a decade or more after the resort was built. A careful read may reveal that they aren't playing fair. You may also find that there are provisions that require the developer to step back and turn control over to the individual owners after XX years or a percentage of the total propject is sold. Again some developers like to act like they control things long after it should be in the individual owners hands.
Take the time to read that 400+/- page book that they are required to give buyers (the disclosure). That is what sets the rules and must be followed by all owners including the developer. Don't rely on the developer/management to interpret things as they wrote it and will obviously tip it toward their own benefit. You actually hold the upper hand as since they wrote the document anything tat has two sides will be interpreted in favor of the individual owners NOT the developer. Of course this can get ugly should the developer play hardball (Wastgate immediately comes to mind - they seem to feel the state laws and written documents somehow don't apply to them). You should be prepared to have an attorney that is familiar with timeshares ready to give you legal support.
Bottom line everyone should be paying their fair share. It is up to the owners to be sure things are being done per the condo docs and within the law.
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"All animals are equal, but some animals are more equal than others."
-- George Orwell, Animal Farm (1945).
It depends on state law, the founding documents which created the HOA, and the willingness of some member to stick their neck out, to the point of suing if necessary.
-- George Orwell, Animal Farm (1945).
It depends on state law, the founding documents which created the HOA, and the willingness of some member to stick their neck out, to the point of suing if necessary.
thanks
I had read it over and over, this time I saw what you said. Hopefully it will help, we are supposed to have the annual meeting soon. Maybe we can get control of the board and start to get things straightened out. Thanks
I had read it over and over, this time I saw what you said. Hopefully it will help, we are supposed to have the annual meeting soon. Maybe we can get control of the board and start to get things straightened out. Thanks
L
lovelyym
It certainly would NOT be fair if board of directors owning weeks with the resort did not have to pay assessments. Really makes me curious. I'll have to look into my contract!