Hi, We're long time owners of Unit 179H, week 49. We rec'd the latest Sand Script newsletter and glad to hear abut continued improvements to units & property. The problem is the high maintenance fee of almost $800 a year! This is getting out of hand and too steep for retirees. I feel we are being priced out. We're trying to rent this year but unsure about future. We love visiting but after paying for air fare and maintenance fee, we find we can do better on other vacation deals. I'm sure new buyers will not be eager to pay these fees either.

You are so right in your observations! 20 years ago timeshare was a new thing, and had never been tested before. It has now reached a point where you are loosing the advantage in owning a unit in the first place, you can now almost find units renting for less or equal to your maintenance fees including tax.

(and do not forget including your investment cost owning the unit in the first place)

WHAT HAPPENED TO OUR OWN INVESTMENT IN OWNING THE RESORT?

A low but appropriate return on investment of $20,000 for a unit should be 2-3% or $400 to $800 a year and added to our present fees to reach a proposed rental income.

w h e r e d o w e go f r o m h e r e ?

The time-share idea has perhaps outgrown its value with our new budgets triplet in 20 years with an almost constant rental charge income if we do not do anything about it.
The 2010 budget meetings will be the most important meetings for the survival and existence the of time-share idea. Our board members will need all the help they can get from the owners! And owners must help the board this time before the action takes place.

Our budget board meetings 20 years ago lasted almost 3 days for years. More than ever do we need transparency in each budget line item!!! Explain what the budget line item is, and what it contains.
Propose the budget this year should be mailed to any owner who requests it, in time for study before the actual discussion meetings take place with details of line items. Appeal to owners to take part, and set some limits for all our expense items. Clarify what we are paying to other contractors besides our local Hilton managers.
The line item of sending more than $100,000 to HGVC in Orlando each year for just using their name should be stopped. With our multi Millions of $$$ in our budget we should be able to have reached a stage where a local General Manager could be installed and run the FGHIJK organizations with a much more controllable cost with a better maintenance control. Let us all get involved in the new 2010 budget plans!!

You will also find a new suggested plan for our casaybel.com web site in the Forum that could help all owners.