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Thread: $5,893.32 special assessment for Diamond's Point at Poipu

  1. #1
    Diamond Club Contributor rikkis_playpen's Avatar
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    $5,893.32 special assessment for Diamond's Point at Poipu

    https://www.diamondresorts.com/hoa/2...andInserts.pdf


    The numbers on these things just keep getting more and more ridiculous.. This one doesn't even seem possible..

    I believe there are 219 units at this resort. If they leave two weeks unsold for maintenance that generates 50 ownerships per year per unit, or a total of 10,950 intervals. The special assessment looks like $5,893.32 per interval.


    According to my calculator- that ends up being $64,531,854..
    my travel website: Vacation-Times.org.

    "A vacation is what you take when you can no longer take what you’ve been taking."
    ~Earl Wilson

  2. #2
    Goomba & Super Moderator tonyg's Avatar
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    They could probably build a new resort for that much money.
    Good luck to anyone trying to sell their unit.

  3. #3
    Please excuse me, I'm a Dick. Not a moron just a Dick
    Join Date
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    15,333
    We spent a very nice week there, checking in the day we had a lunch tour with the infamous Georgio, who told us only owners can trade in.

    Then, we happened to get one of the best units, oceanfront/overview/end.

    Ah, the good ole days of RCI.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  4. #4
    Contributor - Bronze
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    I can't imagine anyone paying that much of a special assessment.

  5. #5
    That is brutal! Multiple week owners have to be sick! Somebody is making a lot of money on these repairs.

  6. #6
    Quote Originally Posted by catwgirl View Post
    I can't imagine anyone paying that much of a special assessment.
    I agree, ouch!
    Angela

    If you change the way you look at things, the things you look at change.

    BTW, I'm still keeping track of how many times you annoy me.

  7. #7
    Wow! Very well explained and yes, any structural work is going to be very expensive. Can you imagine being an owner of such a slice of paradise at a "savings" over rentals & then getting a bill like this? I fear the delinquency rate will skyrocket I threaten the very survival of this resort. 65 million could and has built some fine resorts.

  8. #8
    It would be interesting to know what it would cost to build a brand new resort.

  9. #9

    Assessment $$$$$$$

    Quote Originally Posted by odaddy View Post
    It would be interesting to know what it would cost to build a brand new resort.
    I owned at Poipu since 1996. Just received my assesment...$14,732!!! This does not count my Maintenance fee. They will allow me to pay $4000 Jan.1 +maintenance and put the rest on easy pay! I am so angry and told them my paradise turned into hell. I also said that they should have condemned the place. Was also told that Diamond Resorts was putting in 10 million. Did not make me feel any better. Would be interested in knowing how other owners feel.

  10. #10
    Hi rondiware, and welcome to TS4M's

    Wow, I think that's outrageous! Did the owners vote on this?
    Anyway, I feel your pain, and hope that you guys have some recourse.



    Quote Originally Posted by rondiware View Post
    I owned at Poipu since 1996. Just received my assesment...$14,732!!! This does not count my Maintenance fee. They will allow me to pay $4000 Jan.1 +maintenance and put the rest on easy pay! I am so angry and told them my paradise turned into hell. I also said that they should have condemned the place. Was also told that Diamond Resorts was putting in 10 million. Did not make me feel any better. Would be interested in knowing how other owners feel.
    Angela

    If you change the way you look at things, the things you look at change.

    BTW, I'm still keeping track of how many times you annoy me.

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