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Old 11-12-2019, 11:36 AM   #31
helenabear
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Quote:
Originally Posted by zafiro View Post
On one hand, MOs are praising the refurb of OKW, the oldest DVC resort at almost 30 years old, and a resort that has been in dire need of upgrades and room transformations for many years. On the other hand, they are complaining about the seemingly excessive increase in annual fees.

Why don't you go to the annual meeting or at least review the actual costs to refurb the 30 year old hotel property? Roofing (with probable hurricane code structural enhancements), interior plumbing, electrical, lighting, safety systems, elevators, etc. all need to be brought up to current code requirements and these fixes aren't the spackle and paint, change the drapes cheapo refurbs.

These things are required to safeguard YOUR interest in the resort, as an owner and to keep the resort's valuation on par with other DVC holdings. Think about trying to sell or get a current valuation on a 30 year old house that is looking every second of its 30 years when the comparable offerings are new or refurbished. I'd be complaining as an owner if DVC was letting the resort rot into the green carpet, mauve, Miami blue, pink tile, shiny brass fixture grave yard and not attracting any new buyers.
You know what? OKW has been hit with higher increases than expected supposedly for these much needed upgrades (your words not mine) for more than just this year. The last 4 years I've heard that. Enough is enough
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Old 11-12-2019, 11:44 AM   #32
Lamima
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Holy crap, am I glad we sold the OKW this year. Those hiked up a lot. Was expecting higher hikes for my BWV and CCV so I am pleased. My total comes to about $135 less than I was estimating. Not bad. Now I will go back and read what you all said about these increases.....
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Old 11-12-2019, 11:44 AM   #33
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Originally Posted by helenabear View Post
You know what? OKW has been hit with higher increases than expected supposedly for these much needed upgrades (your words not mine) for more than just this year. The last 4 years I've heard that. Enough is enough
If Disney would spell out what these increased dues are actually going to, it might be better to swallow. But they are never transparent.
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Old 11-12-2019, 11:46 AM   #34
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Originally Posted by helenabear View Post
You know what? OKW has been hit with higher increases than expected supposedly for these much needed upgrades (your words not mine) for more than just this year. The last 4 years I've heard that. Enough is enough
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Originally Posted by BWV Dreamin View Post
If Disney would spell out what these increased dues are actually going to, it might be better to swallow. But they are never transparent.
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Old 11-12-2019, 11:56 AM   #35
Lamima
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OKW dues are second only to RR!!!

OKW seems to be in Disney’s crosshairs. First the high levels of ROFR and the, to my mind, unreasonable dues increases. Thank goodness that Disney ROFRed my contract earlier this year. We bought SSR instead.

OKW has pretty low points charts. Maybe these increases are a way of compensating for that. We have 250 sellable points at OKW. They are extended and should sell.

I think that these increases at OKW are not finished. The increase should not be blamed on the refurbishment. A portion of dues is kept aside every year to pay for those.

I thought that our OKW points were the ones we would keep until expiration. I thought we might sell some of the others, but never OKW. Never say never, I guess.
So I wonder if all the OKW ROFR buy backs are being kept by them and not resold direct. So they have less and less members to pay dues and need to up them to cover costs. I wonder if they are wanting to buy back and keep OKW since they did that whole extension mess up. They can, in meantime, rent for cash. Is DVC allowed to keep a larger % of resort points than initially sold...like could they legally be buying back these contracts and hold them or do they have to maintain a certain % of points owned by members?
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Last edited by Lamima; 11-12-2019 at 12:04 PM.
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Old 11-12-2019, 12:03 PM   #36
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Originally Posted by helenabear View Post
The last 4 years I've heard that. Enough is enough
You can call member accounting and ask for the OKW accounting details. If I really felt "enough is enough" then I would certainly do so; and / or I'd sell ASAP before January.
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Old 11-12-2019, 12:09 PM   #37
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Quote:
Originally Posted by Lamima View Post
So I wonder if all the OKW ROFR buy backs are being kept by them and not resold direct. So they have less and less members to pay dues and need to up them to cover costs. I wonder if they are wanting to buy back and keep OKW since they did that whole extension mess up. They can, in meantime, rent for cash. Is DVC allowed to keep a larger % of resort points than initially sold...like could they legally be buying back these contracts and hold them or do they have to maintain a certain % of points owned by members?
The assessments are done by point, not by owner. The holder of the points, no matter pays their own share. DVD-DVC can keep / buy back / hold as many points as they desire. They are the primary owner.
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Old 11-12-2019, 12:09 PM   #38
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Originally Posted by Lamima View Post
So I wonder if all the ROFR buy backs are being kept by them and not resold direct. So they have less and less members to pay dues and need to up them to cover costs. I wonder if they are wanting to buy back and keep OKW since they did that whole extension mess up. They can, in meantime, rent for cash. Is DVC allowed to keep a larger % of resort points than initially sold...like could they legally be buying back these contracts and hold them or do they have to maintain a certain % of points owned by members?
If Disney owns the points they have to pay the MF's on them. I think there buying back all the 2042's to resell and make them all 2057's to have less of a headache in 20 yrs. One less property to have to deal with when all the 2042's expire. Can't have everyone just disappear over night, that would put a hurting on the guaranteed 12% they make managing the properties. Yes they could rent them out for cash but that a lot of extra rooms to fill as most previous owners I don't think would go back to paying rack rate.
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Old 11-12-2019, 12:23 PM   #39
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I will also say that our total dues will be $3537 for 450 points. Let's see what that gets us...1BR for, not even, 3 weeks. More like 2.5 weeks. If even that. But let's go with 19 days. $186.16 a day for a 1BR. And that discounts the buy in cost. Which I will now go figure that out by taking what we paid to buy and dividing by how many years and how many points.....

Even with just dues per night...$186 is about a going rate for other condos/hotels elsewhere. My HHI in particular (and there have been folks on here saying this for a while now)...you can get many 2BR condos/villas all over the island for cheaper than our annual dues works out to be per night at DHHIR. Can even get closer to the actual ocean for less $$. It's getting to be the same for at WDW...or getting to be a wider cost difference than usual. Especially since I figured 1BR DVC yet you can get 2BR condos on VRBO or whatever for similar costs...and this is to the $186/night in dues only (before adding in the buy in cost).

Edit to add: figured my price per point buy in cost (over life of each contract)...adds $1564.75 a year and brings the 19 nights in a 1BR each year to $268.53 a night. Now we're way over board. For my 450 points I might be able to swing 10 nights (stand view at BWV) in a 2BR and that comes out to be $510.20 per night. Or $3571.40 for 1 week in a 2BR villa. That is a lot to rent a 2BR condo for a week.
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Old 11-12-2019, 12:25 PM   #40
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In addition to these dues, I fear the upcoming points chart will further erode our membership. I am not looking forward to round two......
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