DVDMC files amendments to separate use year from unit #

[LAX]

That's what we agree to when we purchase. They can also split or combine points into whatever size contracts they want (within the same unit #). It is what it is.

I will admit I didn't read through all the paperwork line by line and page by page when I bought, so I honestly don't know what actually I agreed to. However, I do know that all of the changes DVD has recently made make me want to get out while I still can.

LAX

 

[ScubaCat]

will add that you aren't reserving a Unit but reserving a Vacation Home Type

I should have said reserve within any unit.

 

[zavandor]

It seems that DVC really does want to change the rules in the middle of the game if the score is not working in their favor. Some games they can win, others they were not able to, not yet anyways. But the ability to do this just screams to me, buyer beware.

It's more like if they're winning their game, but in another stadium another team is winning too in another game so they force the federation to change the rule to stop that game so they are the only winners in the league.

 

[Bearval]

I know it's DVD's "game" and it can set rules however it wants, but I still don't think it's fair for DVD to be able to change a contract's UY to whatever it wants while none of the other owners have that option when contracts change hands.

LAX

Sure you can, you just have to wait for DVD to ROFR the contact you made an offer on then pay 50% more to get it direct....................................

 

[ziravan]

The people who populate this and similar forums are what’s known as the Influentials. This group is the 5-10% of owners that are “in the know”; the group that other owners turn to for information and advice.

DVD has made a major error. You cannot be this ham fisted - all these changes at the same time - and it not have an impact on your perception as a brand.

The DVC masses might not be watching, but the Influentials are. As a brand, DVC needs its influencers to be a positive reinforcement.

That might not matter every moment or when the economy is booming. But DVC, like every major company, is always just an inverted bond yield curve away from needing to lean on its best brand promoters.

 

[freediverdude]

It wasn't the smartest time to do this. If they had made this change any other year, we would have kind of shrugged it off and thought it might even be good, let's see what happens. But this year, with all these other changes going on, it raises a red flag.

 

[SL6827]

The people who populate this and similar forums are what’s known as the Influentials. This group is the 5-10% of owners that are “in the know”; the group that other owners turn to for information and advice.

DVD has made a major error. You cannot be this ham fisted - all these changes at the same time - and it not have an impact on your perception as a brand.

The DVC masses might not be watching, but the Influentials are. As a brand, DVC needs its influencers to be a positive reinforcement.

That might not matter every moment or when the economy is booming. But DVC, like every major company, is always just an inverted bond yield curve away from needing to lean on its best brand promoters.

Right, I would not advise anyone I know to buy in now.

 

[SL6827]

It wasn't the smartest time to do this. If they had made this change any other year, we would have kind of shrugged it off and thought it might even be good, let's see what happens. But this year, with all these other changes going on, it raises a red flag.

I am just wondering if the Star Wars opening has something to do with all this.

 

[disneynutz]

I am just wondering if the Star Wars opening has something to do with all this.

More like greed and finally showing ones true colors.

We lost our love for DVC a few years ago and saw it for what it is. We still enjoy Disney but not like we once did, things change.

Bill

 

[SL6827]

More like greed and finally showing ones true colors.

We lost our love for DVC a few years ago and saw it for what it is. We still enjoy Disney but not like we once did, things change.

Bill

Ya, things change, that is for sure.

 

[Bearval]

I believe this latest move is just some more long term planning for DVC for when the contracts start getting close to expiring. They will start with OKW since this resort already has two expiration dates. When the bottom beings to fall out of the contracts , say when there is only 5 to 10 years left on OKW 2042. DVC with buy them up dirt cheap, repackage them and sell contracts for OKW with expiration date of 2057 ( they already do this but when the contracts are getting close to expiring they will really be cheap). For the other resorts that will expire in 2042 but only had 40 years when new they will do the same thing, buy them up when there is only 5 to 10 years left since these will be hard for people to sell and then repackage them as "new" contracts with new expiration dates of either 2057 or 2067.

 

[Katie L]

I believe this latest move is just some more long term planning for DVC for when the contracts start getting close to expiring. They will start with OKW since this resort already has two expiration dates. When the bottom beings to fall out of the contracts , say when there is only 5 to 10 years left on OKW 2042. DVC with buy them up dirt cheap, repackage them and sell contracts for OKW with expiration date of 2057 ( they already do this but when the contracts are getting close to expiring they will really be cheap). For the other resorts that will expire in 2042 but only had 40 years when new they will do the same thing, buy them up when there is only 5 to 10 years left since these will be hard for people to sell and then repackage them as "new" contracts with new expiration dates of either 2057 or 2067.

Maybe. But I can't imagine the cluster for member fees and defaults when your contract expires in 5 years and someone else's expires in 20. You think $8.31 is high.......

 

[KAT4DISNEY]

Maybe. But I can't imagine the cluster for member fees and defaults when your contract expires in 5 years and someone else's expires in 20. You think $8.31 is high.......

Things revert to DVC who will have the responsibility of upkeep on what they own.

 

[ziravan]

Things revert to DVC who will have the responsibility of upkeep on what they own.

DVC doesn’t pay dues on its points. They made a contractual deal common in the timeshare world where in exchange for guaranteeing any loss against their annual estimate of expenses, their points are shielded from dues.

That said, if an even small percentage of members default, DVC will have to make up for any (potentially massive) shortfalls in the year where defaults were triggered and then decide in future years to either:

1. Continue to eat losses on dues, or

2. Raise dues to compensate for the losses.

Option #2 seems a no-brainer unless you know that passing off lost dues onto current members is a self-reinforcing doom that ended up being the final knife in many a timeshare:

In a time of defaults, higher dues merely exacerbate the number of defaults.

 

[KAT4DISNEY]

DVC doesn’t pay dues on its points. They made a contractual deal common in the timeshare world where in exchange for guaranteeing any loss against their annual estimate of expenses, their points are shielded from dues.

That said, if an even small percentage of members default, DVC will have to make up for any (potentially massive) shortfalls in the year where defaults were triggered and then decide in future years to either:

1. Continue to eat losses on dues, or

2. Raise dues to compensate for the losses.

Option #2 seems a no-brainer unless you know that passing off lost dues onto current members is a self-reinforcing doom that ended up being the final knife in many a timeshare:

In a time of defaults, higher dues merely exacerbate the number of defaults.

The main point of my post was that there is no year end reconciliation that provides for a carry forward should they over estimate the dues as was being suggested.

 

[ziravan]

The main point of my post was that there is no year end reconciliation that provides for a carry forward should they over estimate the dues as was being suggested.

Gotcha. I wasn’t responding to you particularly but I’m not sure how many people are aware that DVC doesn’t pay dues on its points in the same sense that we do.

 

[KAT4DISNEY]

Gotcha. I wasn’t responding to you particularly but I’m not sure how many people are aware that DVC doesn’t pay dues on its points in the same sense that we do.

It is something that they could choose to do though I believe. I think that's a decent indicator that they don't come up short very often....if ever whereby they are paying more than they would if they just paid MF's.

 

[miTnosnhoJ]

The main point of my post was that there is no year end reconciliation that provides for a carry forward should they over estimate the dues as was being suggested.

I think I recall that in the Board Meetings in December, they always vote that any remaining funds from dues be added to Capital Reserves.

 

[crvetter]

I think I recall that in the Board Meetings in December, they always vote that any remaining funds from dues be added to Capital Reserves.

That’s correct it’s in the proposed budgets that they will apply that for the excess.

 

[KAT4DISNEY]

I think I recall that in the Board Meetings in December, they always vote that any remaining funds from dues be added to Capital Reserves.

Ok - I'll look for a line item there. My bad if that's what they do.