Understanding 2010 Maintenance Fee - US Collection

[Schooner Member Find all posts View Profile Close Schooner]

I just received my bill for 2010 Maintenance Fees for the US Collection. While I can easily whine about the double digit increase during a recession the point of this post is to ask whether anyone can shed any light on why things have gone up so much?? And yes, I know that Diamond controls the Board ….

You would think after last year’s 20%+ increase (blamed in part on skyrocketing energy costs) the line could have been held better this year with the major cut in energy cost??? I also wonder how bad debt, recession notwithstanding, could go up 154% when the manager has it within their power to rent any inventory in default. Given the scarcity of inventory at most resorts and all the rentals through web travel sites there doesn't seem to be a problem filling up the inventory. It is also interesting (or scary if they just plan continuing double digit increases!) that the Board talks about having a plan to retire the deficit yet they are projecting an even larger deficit this year?!

Is there any independent audit of these numbers? Is there a way to see a more detailed breakdown of the budget and expenditures? Anyone know? In the meantime I will put my "whine" in a glass!

[longtimer Senior Member Find all posts View Profile Close longtimer]

Is there any end to the skyrocketing MFs? I hate being held hostage by them. We are lucky that, for now, we can afford to pay them. But looking down the road to retirement, at the rate the costs are rising, we won't have enough money to pay the fees.

[dwmantz Senior Member Find all posts View Profile Close dwmantz]

Schooner

Can you spell out the breakdown of the MF bill for The Club for this year?

I've yet to see the detail - price per point, club membership, etc, etc

Thanks!!

[Schooner Member Find all posts View Profile Close Schooner]

Schooner

Can you spell out the breakdown of the MF bill for The Club for this year?

I've yet to see the detail - price per point, club membership, etc, etc

Thanks!!

ARDA-ROC Voluntary Fee = $5
US Collection operational fee = $197
The Club Fee = $245
Per Point Fee = 0.1102

[timeos2 Senior Member Find all posts View Profile Close timeos2]

ARDA-ROC Voluntary Fee = $5
US Collection operational fee = $197
The Club Fee = $245
Per Point Fee = 0.1102

Unbelievable! That translates to $1549. (ok, $1544 without ARDA) for one of the 3 bedroom owners at Cypress Pointe Grand Villas that gets 10,000 annual points and bought into the "save on maintenance fees" sales pitch they give to turn in your deeded week and become part of the trust. Had they NOT paid thousands to join the Trust and simply kept their deeded week - 3 bedroom - they would be paying $798. A 50%+ premium for what? A few internal trades that most likely could be obtained in trade through RCI or II? What a disaster of a decision to "save money". I'd be beyond complaining and looking to go after someone if I'd bought into that nightmare. And some wonder why you cannot leave the developer in charge of resorts/systems. They will not be fiscally responsible as raising fees directly benefits them.