Recipients of the September newsletter may remember the ... Marketing. The Marketing Department also rents unused invent
See How Your HOA is Saving You Money We are continually looking for ways to maximize income for the HOAs and minimize increases in your maintenance fee. With the rising costs of supplies, utilities and healthcare, the maintenance fee must rise to accommodate. We continue to do everything in our power to keep fees manageable, and we are excited about the success of our programs, particularly renting out defaulted inventory.
Defaulted Inventory Recipients of the September newsletter may remember the $468,000 rental income generated for the HOAs. We’re pleased to announce that this amount has since increased to $510,000 and we anticipate that this source of income will continue to be profitable in the coming year. In timeshare terminology, defaulted inventory translates to less income for the HOAs. It also means higher maintenance fees for the remaining owners that are forced to carry the burden of expenses when owners who default fail to contribute. When an owner defaults on their timeshare, the week they bought often sits unused until the foreclosure process is completed, which then frees up the inventory to be re-sold. In the current economic climate, some defaults are unavoidable, but at Plantation Resort we have developed a plan to help offset the costs associated with defaulted inventory. We dedicate a small percent of these defaulted weeks as vacation rentals and use online travel agents to advertise. We limit the number of units to insure
2015 Budget
Plantation Resort Villas II HOA, Inc. New Per Unit Hello Plantation Resort Vacation Owners, 2015 Budget Budget Week
Income
2015 Budget
Fee Income New Per Unit Budget Week Subsidy Income-Developer Income Fee IncomeDeveloper Weeks $ 200,000 303 Subsidy Income-Developer $ 20,000 30 Rental Income $ 3,000 Developer Weeks 5 Rental Income 2 Servicing Fees $ 1,000 Servicing Fees $ 1,000 2 Total Income $ 225,000 Total Income 341 Expenses
Expenses
Study after study show th productive, feel more fulf lives. (Sources:
We’re excited to play an i Study after study show that people who make their vacations a priority areand more we’re ho experiences Find the “Rental Income” productive, feel more fulfilled with their careers, and live happier and healthier line item of the budget in from home.” bit.ly/PRhealthy2) bit.ly/PRhealthy1,303 lives. (Sources: order to$see200,000 the money projected youranHOA. We’re excitedfor to play integral part in providing you wonderful vacation $and 20,000 experiences we’re honored that you call 30 Plantation Resort your “home away from home.” $ 3,000 5
Many of you asked quest maintenance fee proposa Many of you $ asked questions 1,000 or expressed concerns 2 regarding the variable Due to your we maintenance fee proposal described in last year’s newsletter. We’ve heardfeedback you! 1,000 2 forward with the variable Due to your$feedback we’ve decided not to move maintenance fee. If we c maintenance If we choose to reexamine this option in the future, we’ll be $ fee. 225,000 341 sure to address all your questions before moving forward. sure to address all your q Our Owner Services Department is busy on the phones helping you plan your
Our Owner Services Depa $ 57,035 87 much-needed and well-d $ 22,820 35 our assistance in making $ 10,460 16 Resort. We continue to r $ 1,300 2 articles, emails and social Monthly $ 7,368Maintenance 11 Fee ownership at Plantation R $ 1,035 2 money and paper in the p $ 23,000 35 $ 25 0 or send us your name and $ 1,500 2 godigi@plantationresort.
General Maintenance & Repairs $ 57,035 87 much-needed and well-deserved vacation. You may have received a call offering Annual Contract Maint & Hk $ 22,820 35 our assistance in making your exchange or return reservation to Plantation Contract Landscape Maintenance $ 10,460 16 Resort. We continue to reach out to you through online newsletters, blog that owners in good standing will always goes directly to the individual HOAs. Routine Non-Contract Landscape $ 1,300 2 articles, emails and social media to help you make the most of your vacation have inventory available to them. You can see this budgeted income listed Trash Collection & Janitorial $ 7,368 11 ownership at Plantation Resort. If you’d like to hear from us via email (and save Pest Control $ 1,035 2 “Developer money andunder paper in the process), please Weeks.” contact Owner Services at 888-913-4477 Improvement Projects $ 23,000 35 This program has seen great success. or send us your name and account number in an email to Association Meeting Expenses $ 25 0 ItIncome began 2013Fee and earned almost 2
[email protected]. Taxesin & License $ 1,500 Security Patrol 6,532 10 We’ve expanded the newsletter to offer you the more detailed information that $180,000 for the HOAs$$ and this year Electric 28,000 42 many of you have requested. We hope you enjoy the new format. Please let us has Waterseen & Sewereven more success, $ 5,600earning 8 maintenance fee monthly payment know whatThe you think. The newsletter can be viewed online by Cable TV $ 3,848 6 going here: Bit.Ly/PRNewsB. $510,000 at the printing of this plan has also helped collect income for Telephone & Internet $ 14,420 22 newsletter. This money$ belongs to the Wats Phone Charges 800 1 The 2015 maintenance fee is $Twenty-five health insurance 303. Federally mandated the HOAs. percent of our(the Lazy Riverand offsets expenses, $ 8,409 13 your HOAs keeping Affordable Healthcare Act) has increased labor contract costs contributing to owners have signed up for the monthly Health & Swim Club Dues $ 28,442 43 much of this year’s increase in the maintenance fee. Defaults and foreclosures maintenance fees even$lower. Outdoor Pool 21,860 33 payment plan, decreasing the number with associated legal fees also continue to be large expenses for the HOA. of Golf Membership Fee $ 4,080 6 owners defaulting on their maintenance Bankclarify, Service Charges $ 60 To this figure represents the0 We are actively looking for every opportunity to reduce your maintenance fee. Credit Card Charges $ 7,800 12 One success fees. Owners who switch to the is that renting defaulted weeks has generated more plan income for the total amount of money$ raised Insurance 29,868 for all 45 18 HOA than ever before. You can read more about this in the newsletter by going are finding it substantially easier to pay Management & Accounting $ 37,960 Since 58the timeshare HOAs collectively. online here: Bit.Ly/PRNewsD. Audit $ 1,000 2 smaller monthly payments than one lump number of defaulted weeks varies 106 by The “Win a Year of Free Maintenance Fees” Giveaway was so popular last year Housekeeping $ 69,525 sum at the beginning of the year. For Convenience Packs the amount $ of 9,750 we’re offering this same contest again this year. In the newsletter, you’ll find HOA, so will money 15 raised more information on maintenance the maintenance fee Reservation Services $ 34,915 53 more details about winning your year of free fees and additional through Legal Fees rentals. You can $ find 24,680 the amount 37 efforts to stem rising costs. Read about resort improvements, our newest monthly payment plan, please see the Developer Reimb Legal Fees (2,000) of money projected for$ your HOA in(3)the initiative to help save sea turtles native to our beaches and a reminder of how to monthly maintenance fee article in this Printing And Supplies $ 1,545 2 pay for your maintenance fee through the Circle of Friends program. To view “Rental Income” line item of your budget 81 Uncollectable Accounts $ 53,148 newsletter. Bit.Ly/PRNewsB the newsletter online, enter the following in your browser: For summary. Property Taxes (See caption.) $ 18,000 26 those of you who have signed up to receive this information digitally, simply click Total Expenses $ 532,785 808
General Maintenance & Repairs Annual Contract Maint & Hk Contract Landscape Maintenance Routine Non-Contract Landscape Trash Collection & Janitorial Pest Control Improvement Projects Association Meeting Expenses Income Taxes & License Fee Security Patrol $ 6,532 10 We’ve expanded the new Electric $ 28,000 42 many of you have reques Water & Sewer $ 5,600 8 know what you think. Th Cable TV $ 3,848 6 going here: Bit.Ly/PRNew Telephone & Internet $ 14,420 22 Wats Phone Charges $ 800 1 The 2015 maintenance fe Lazy River $ 8,409 13 Affordable Healthcare Ac Health & Swim Club Dues $ 28,442 43 much of this year’s increa Outdoor Pool $ 21,860 33 with associated legal fees Golf Membership Fee $ links to4,080 6 highly successful on any of the go to the newsletter. These steps have been Bank Service Charges $ togenerating 0 Net Surplus (Deficit) $ (307,785) (467) We invite you We are take full 60 advantage of your ownership and improve your health looking fo Marketing in income beyond the actively and well-being by experiencing an enjoyable, relaxing and rejuvenating vacation Credit Card Charges $ 7,800 fee for 12 maintenance your HOA. We will success is that rentin at Plantation Resort or wherever your ownership may One take you. The Marketing Department also rents continue to implement programs Insurance $ 29,868 45 these HOA than ever before. Yo Wishing You Many Happy and Healthy Vacations! unusedManagement inventory from the HOAs and update you on their We also & Accounting $ Executive 37,960 58 success. David C. Nelson, Vice President at Plantation Resort here: Bit.Ly/PRNew online by booking units for many of their continue to look for new and improved Audit $ 1,000 2 programs. They reserve several nights ways to generate even more income for Housekeeping $ 69,525 106 The “Win a Year of Free M in the shoulder seasons, for events like the HOAs now and for years to come. Convenience Packs $ 9,750 15 we’re offering this same c VIP Owner Events, the Circle of Friends program and other programs Reservation Services that help $ 34,915 53 more details about winni the number HOA owners grow. The LegalofFees $ 24,680 37 efforts to stem rising cost money Developer earned from renting these units Reimb Legal Fees $ (2,000) (3) initiative to help save sea Printing And Supplies $ 1,545 2 pay for your maintenanc 81 Uncollectable Accounts $ 53,148 the newsletter online, en Property Taxes $ 18,000 26 Total Expenses $ 532,785 808 those of you who have sig
