2013 Maintenance fees from the BVC Annual Meeting
I was at the BVC annual meeting and took notes. Will provide other information later which was rather light this year. Here are the new maintenance fee rates. Biggest driver of increases was delinquencies and bad debt.
Trust Fund E: $320 + $.0493/point (previous: $320 + $.045/point)
Trust Fund D: $.078/point (previous: $.074/point)
Trust Fund B: $170 + $.0673 ($170 + $.063/point)
Most of the points are in Trust Fund E. So, your yearly increase depends on how many points you own. The marginal rate increase for Trust Fund E was 9.56%. For an owner with 9000 annual points, the increase was $5.34%. A platinum owner with 60000 points had an increase of 8.54%.
Trust Fund E represents 1.917B points out of a total of 2.120B points or 90% of all points.
I took a lot at the details of the Trust Fund E Budget. Here is something interesting:
1) The total pass through budget from the resorts for operations is: $116,030,000.
2) Amount Collected from owners: $140,429,000.
Total amount over resort budgets (gross reserve): $24,400,000 or 21%.
$3,136,000 (2.7%) was for special assessments at Christmas Mountain Village and MountainLoft
$6,111,000 (5.3%) was for extra housekeeping fees (average stay is less than 3 nights).
Net reserve: $15,152,000 (13%)
This seems like a pretty high net reserve. This is probably reserved for future special assessments and delinquencies and bad debt.
So, If I understand this correctly we have 15K points. 15k x .0493 = $7395 + 320.00 = 1059.00 Hmm.. When we acquired this I was told they were around $850.00
MF's can always be misleading. Do you buy developer or resale? Did you verify with the resort / BG first or did you accept what the sales person said? Cannot remember for sure but if that $320 includes the $129 "club fees" that would put you a little closer to the $850 you were originally told. Especially since they would have been based on the old MF's which were .045 per point.
Originally Posted by GuitarKidd
also depends on which trust fund your points are in. MFs are calc'd differently for different funds.
Looks like its back to squeezing the Lemons again
Over 8% is quite a hike.
The club dues are not maintenance fees. Maintenance fees and club dues are billed separately.
Does anyone know what the 2013 biannual trust fund E maintenance fee formula is?