Reba Management in Hilton Head Island

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Original Message:

Re: Reba Management in Hilton Head Island (by Tracey S.):

Apparently they are following the lead of Southwind/Spinnaker Resorts also on HHI. Southwind Management began requiring $1500 for annual contracts and $750 for EOY contracts a little over a year ago. At that time I had heard that Reba would probably follow and now they have.

Supposedly the reason behind the requirement is that people were transferring their timeshares to individuals and "donation LLC's" who would then default on MF's. The transfer fee is supposed to be put in an escrow account and pay the first year or two MF's for the new owner. I don't see how it will prevent default because now people will be able to buy for cheap because this is going to tank the value and use or rent the unit for 1 or two years and then default and the problem will still be the same.