Is it too early for a dues increase post?

[PoohBears#1fan]

I guess it was inevitable!

dvcnews/index.php/dv...s-in-2019-dues

[boo2]

It seems a lot😢 and it feels worse with such a rotten exchange rate. I was hoping for a bit less this year, I always live in hope😟

[YorkshireT]

This is a ridiculous hike.

I have previously posted on here what would happen in 10, 20 years if dues increased by just 5% and how it needs to be got under control otherwise it is a scary prospect.

At 7,8,9+ % it is more than that. Imagine now if dues are $7 a point now and you say own 200 points, and they went up 8% (below many of these increases) on average per annum. Your current $1400 pa dues becomes the following (first column is years from now, last column what dues would be).

This is a truly scary prospect and it also means, if we get many more rises like this, the contracts will plummet in value.

Expect to see Vero plummeting in value already, and I wouldn’t be surprised to a lot of contracts coming in the market quickly, and possibly prices depressing.

DVD needs it’s backside kicking. Whilst I know they have had to increase salaries, some of these increases such as transport, look to be very dubious, how much is being loaded onto DVC owners.

DVD need to remember the owners can vote their management out.

1 $112.00 $112.00 $1,512.00
2 $120.96 $232.96 $1,632.96
3 $130.64 $363.60 $1,763.60
4 $141.09 $504.68 $1,904.68
5 $152.37 $657.06 $2,057.06
6 $164.56 $821.62 $2,221.62
7 $177.73 $999.35 $2,399.35
8 $191.95 $1,191.30 $2,591.30
9 $207.30 $1,398.61 $2,798.61
10 $223.89 $1,622.49 $3,022.49
11 $241.80 $1,864.29 $3,264.29
12 $261.14 $2,125.44 $3,525.44
13 $282.04 $2,407.47 $3,807.47
14 $304.60 $2,712.07 $4,112.07
15 $328.97 $3,041.04 $4,441.04
16 $355.28 $3,396.32 $4,796.32
17 $383.71 $3,780.03 $5,180.03
18 $414.40 $4,194.43 $5,594.43
19 $447.55 $4,641.98 $6,041.98
20 $483.36 $5,125.34 $6,525.34
21 $522.03 $5,647.37 $7,047.37
22 $563.79 $6,211.16 $7,611.16
23 $608.89 $6,820.05 $8,220.05
24 $657.60 $7,477.65 $8,877.65
25 $710.21 $8,187.87 $9,587.87
26 $767.03 $8,954.89 $10,354.89
27 $828.39 $9,783.29 $11,183.29
28 $894.66 $10,677.95 $12,077.95
29 $966.24 $11,644.18 $13,044.18
30 $1,043.53 $12,687.72 $14,087.72
31 $1,127.02 $13,814.74 $15,214.74
32 $1,217.18 $15,031.92 $16,431.92
33 $1,314.55 $16,346.47 $17,746.47
34 $1,419.72 $17,766.19 $19,166.19
35 $1,533.29 $19,299.48 $20,699.48
36 $1,655.96 $20,955.44 $22,355.44
37 $1,788.44 $22,743.88 $24,143.88
38 $1,931.51 $24,675.39 $26,075.39
39 $2,086.03 $26,761.42 $28,161.42
40 $2,252.91 $29,014.33 $30,414.33

[Andi]

Wow I wasn’t expecting a 10.04% increase, ouch 🙀

[boo2]

Originally Posted by YorkshireT

This is a ridiculous hike.

I have previously posted on here what would happen in 10, 20 years if dues increased by just 5% and how it needs to be got under control otherwise it is a scary prospect.

At 7,8,9+ % it is more than that. Imagine now if dues are $7 a point now and you say own 200 points, and they went up 8% (below many of these increases) on average per annum. Your current $1400 pa dues becomes the following (first column is years from now, last column what dues would be).

This is a truly scary prospect and it also means, if we get many more rises like this, the contracts will plummet in value.

Expect to see Vero plummeting in value already, and I wouldn’t be surprised to a lot of contracts coming in the market quickly, and possibly prices depressing.

DVD needs it’s backside kicking. Whilst I know they have had to increase salaries, some of these increases such as transport, look to be very dubious, how much is being loaded onto DVC owners.

DVD need to remember the owners can vote their management out.

1 $112.00 $112.00 $1,512.00
2 $120.96 $232.96 $1,632.96
3 $130.64 $363.60 $1,763.60
4 $141.09 $504.68 $1,904.68
5 $152.37 $657.06 $2,057.06
6 $164.56 $821.62 $2,221.62
7 $177.73 $999.35 $2,399.35
8 $191.95 $1,191.30 $2,591.30
9 $207.30 $1,398.61 $2,798.61
10 $223.89 $1,622.49 $3,022.49
11 $241.80 $1,864.29 $3,264.29
12 $261.14 $2,125.44 $3,525.44
13 $282.04 $2,407.47 $3,807.47
14 $304.60 $2,712.07 $4,112.07
15 $328.97 $3,041.04 $4,441.04
16 $355.28 $3,396.32 $4,796.32
17 $383.71 $3,780.03 $5,180.03
18 $414.40 $4,194.43 $5,594.43
19 $447.55 $4,641.98 $6,041.98
20 $483.36 $5,125.34 $6,525.34
21 $522.03 $5,647.37 $7,047.37
22 $563.79 $6,211.16 $7,611.16
23 $608.89 $6,820.05 $8,220.05
24 $657.60 $7,477.65 $8,877.65
25 $710.21 $8,187.87 $9,587.87
26 $767.03 $8,954.89 $10,354.89
27 $828.39 $9,783.29 $11,183.29
28 $894.66 $10,677.95 $12,077.95
29 $966.24 $11,644.18 $13,044.18
30 $1,043.53 $12,687.72 $14,087.72
31 $1,127.02 $13,814.74 $15,214.74
32 $1,217.18 $15,031.92 $16,431.92
33 $1,314.55 $16,346.47 $17,746.47
34 $1,419.72 $17,766.19 $19,166.19
35 $1,533.29 $19,299.48 $20,699.48
36 $1,655.96 $20,955.44 $22,355.44
37 $1,788.44 $22,743.88 $24,143.88
38 $1,931.51 $24,675.39 $26,075.39
39 $2,086.03 $26,761.42 $28,161.42
40 $2,252.91 $29,014.33 $30,414.33

See more...

That’s a frightening prospect! SSR had a big hike last year so I wasn’t expecting such a big rise this year! Surely the big increases need to stop at some point or it will be totally unaffordable for the majority of owners.

[YorkshireT]

What is highly concerning is the article concludes a big reason for the increase is $1 an hour wage hike, which is again going up $1 next year, then the year after again, then the year after again, then again.

So this looks the norm for the next maybe 4-5 years.

I hope I don’t see bad service when I’m there next year, there will be no holding back.

[YorkshireT]

Originally Posted by boo2

That’s a frightening prospect! SSR had a bit hike last year so I wasn’t expecting such a big rise this year! Surely the big increases need to stop at some point or it will be totally unaffordable for the majority of owners.

See more...

And the big hike last year was because of the special assessment for hurricane damage. That isn’t on this year, so the hike is even bigger at SSR than it looks.

[TinkTatoo]

That's some hike, stand by for a glut of resale contracts drop in resale prices. I'd wouldn't fancy being a Vero owner!

[dippiedawnie]

Oh dear! Last year hubby wanted to sell with the hike and I persuaded him not too so I have a sinking feeling for when the bill comes in this year 😢.

[YorkshireT]

I almost wish I hadn’t bought my new contract now, which is likely to pass ROFR. Some people on here have very large numbers of points it will really hit home.
What really concerns me is with these continuing wage increases, it looks like it may be the norm. If you have say 600 points, the amount being paid in 5 years would be a massive increase.
If it’s all to do with wage increases, also how come such a variance in increases across resorts? I know Copper Creek had a special low tax assessment which is expected to be reversed in coming years (if it is, that increase could be scary as this year’s dues there went up, even though taxes decreased massively) but what else is going on? Attempt to level up dues so new resorts look better value? Where’s the transparency on for example, how much of transport and shared facility costs are loaded onto the DVC from the hotel side?
I’d like to be at this year’s members’ meeting. I’m hoping someone live streams it again like they did last year on Facebook.