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Re: Important Update Affecting Resale Purchasers (by Beck):
SVO has a pretty strong sales team, for the cost of foreclosure SVo can sell the units in direct sales environments and do just fine turning a profit. And good luck garnering sufficient owner cooperation to not pay maintenance so their units are at risk of foreclosure. It would be easier, less risky, and more efficient to cooperate to vote all the board members off the board and vote in owners who will not spend your money. Since the owners can't even do that, you have a strong challenge ahead of you.
May I suggest: 1) collect a team who will work to secure the phone and address of as many owners as possible. This includes speaking to owners while staying at your resort during your vacation. 2) Educate owners that even when they vote, their vote is by proxy. In most cases when an owner votes and does not name an owner attending the annual meeting, the Board votes the proxy and if the Board chooses to change the proxy vote, they can. thus, it is critical to have owners vote AND name your representative as proxy so your representative has the voting power to vote Board memebrs in, and vote them out. 3) Be realistic. I agree the method most boards use to decide about special assessments is less than optimal. Owners should be notified as far in advance as possible, not a few months before a bill is due. But it costs money to notify all the owners. It also costs money to ensure your timeshare is beautiful. By refusing to pay for special assessments your resort will lose its attractiveness an also amenities/activities on site. 4) It is my opinion the money spent on refurbishments could be accomplished for less. THIS is probably where your best focus is. Also, is SVO surcharging the refurbishment with management fees and or special relationships with the vendors? I have been watching a Diamond Resorts property in Orlando called Cypress Pointe. Phase I has an owner controlled board and Phase II is a developer controlled board. Guess who has larger assessments?