Weeks, Points and Remaining Timeshare Inventory

If you're thinking of purchasing a house in a development, it's quite simple to figure out how sold out they are,

If you're thinking of purchasing a week-based timeshare, it's a bit more difficult to figure it out, but it can be done.  Find out how many units there are, multiply by 50 (leaving two weeks per year for maintenance) to find out how many total weeks there are, and then either ask the question or get the information from the county.

Not so with point-based timeshare.  How do you get the total number of points that have been allocated to a project?  I can pretty much guarantee that your salesperson has no clue.  It's not real estate, so the county records won't have it.

There are small resorts that I am quite familiar with in the Orlando area that have been in actives sales for years and years...what are they selling?

It's imperative for prospective owners to know how sold out any resort is.  Why?  It affects how and when control reverts back to the owners or the HOA.  It affects the legality of selling something that may or may not exist.  It affects the owners' ability to use what they paid for.

Do you know how sold out your resort is?  Did you ask before buying?  How did you verify the information?  Can you verify the information?

We want to hear your experiences.  Call your resort and ask the question.  We'll print all your responses.

What Is ARDA-ROC?

Some timeshare owners are still not familiar with ARDA-ROC and may be unknowingly making voluntary contributions each year through your annual fees accessed by your resort.

I'm not here to tell you if you should continue to make contributions or not...that's up to you.

You can read all about ARDA-ROC here:  http://www.ardaroc.org/roc/home.aspx

You should also read this from Irene Parker writing for Inside Timeshare:

http://insidetimeshare.com/friday-letter-america/

Irene kindly credits me with providing some information.  This information is not my opinion...this information was easily found online.

Personally, I invite Mr. Thomassen, listed as the sole "Owner Representative" on the board to contribute a Guest Post.

The more we know, the more we can grow.

A Timeshare Collector Speaks

Here's a guest blog that you'll find interesting.  A view from the other side so to speak:

http://insidetimeshare.com/timeshare-hoa-collections-agent-shares-experience/

Manhattan Club Update

Important update on the ongoing Manhattan Club issues:

In the upcoming hearing on 3/31, Judge Rakower' Court Room in NYC, the TMC defendants' motion seeks release of monies from frozen accounts to pay legal fees.  They are also seeking to use maintenance fees from TMC owners to pay their legal fees.

 

Item #10 Schedule B on the new 2018 TMC budget provides for $2.6 million for administrative costs and this include legal fees.  However, the Timeshare Association is not a defendant in the NYAG's case.  We need a more detailed breakdown of the $2.6 million.    It's vague and ambiguous. We need to see a breakdown.  For all we know they could be budgeting for legal fees.

 

It is also important to note that they are also budgeting $7,000,000 for a reserve for bad debts! Guess who pays that!  The unit owners are subsidizing the consequences of  sponsor malfeasance.