Showing posts with label ARDA-ROC. Show all posts
Showing posts with label ARDA-ROC. Show all posts

Looking Out for Owners' Best Interests

10/28/2015 Unknown
It's good to know that as a timeshare owner you are not alone. There are industry organizations that have owners' best interests at heart. Groups like the Florida Timeshare Owners Group (FTOG), The National Timeshare Owners Association (NTOA), American Resort Development Association’s special owner’s group ARDA-ROC and Timeshare Board Members Association (TBMA), make disseminating information to owners their priority. They work to keep owners aware of industry-related news and activities nationwide, changes in the industry and legal issues that may impact owners, as well as information on industry research and ongoing studies to improve the industry.

State Groups

Most states have their own timeshare owner group. These groups are particularly important because each state has different laws affecting timeshare that may change from time to time and owners need to be aware of any changes. Their meetings often include legal updates and other valuable industry information. 

As an example, the Florida Timeshare Owners Group's upcoming November meeting features the head legal counsel of a Florida law firm whose specialty is representing owners who experience disputes or differences with their timeshare resort, the management company or the resort developer.  The FTOG meeting also has scheduled guest speakers representing various exchange companies who will update owners on the latest benefit options. Plus, Greg Crist, CEO of NTOA, will give an update on timeshare industry-related activities nationwide and the evolving future of timeshare.

National Timeshare Owners Association (NTOA)

Another organization that owners can count on for valuable information is NTOA. Through partnerships with technology experts, they gather information and conduct studies of issues affecting the industry. A recent study resulted in data that provided insights on the latest consumer attitudes toward timeshare.  

Another groundbreaking study is in the works. NTOA's Secondary Market Solutions committee is working with the University of Central Florida to analyze and prepare data for the association’s first executive study on timeshare resale issues. These studies are made accessible to owners and others in the industry. 

Timeshare Board Members Association (TBMA) 

TBMA is a non-profit association dedicated to helping provide technical, organizational and moral support to directors of owner controlled timeshare boards. The group offers educational panels and meetings such as one recently held in Denver, which focused on the future of legacy resorts and how to help them compete successfully in a competitive timeshare market. The TBMA website offers a wide variety of information delivered through downloads, podcasts, reports on industry trends and more.  

American Resort Development Association (ARDA)


In case you need reminding, the industry's trade association ARDA offers a wealth of information on its website, from the latest in regulatory and legislative issues to questions about buying and selling and how to avoid scams. ARDA represents and advocates for the industry on regulatory issues, provides educational and networking opportunities at annual conventions, and ARDA-ROC reaches out to members with the latest industry news, market intelligence, trends and events. When was the last time you visited the ARDA site? 

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Maneuvering the Timeshare Secondary Market

8/19/2015 Unknown
You're probably used to seeing a lot of advertising from "postcard companies" soliciting anyone looking to get rid of their timeshare. As timeshare popularity continues to grow, these solicitations stand out, because most owners are happy with their timeshare and are not thinking about selling. But, if this is a time in your life when you have a reason to sell, there are resources to help you maneuver your way through the timeshare secondary market, avoid the scams, and even find alternatives to selling.

Where to Start

The approved party line on the retail market is ARDA-ROC's Timeshare Resale Resource Center. Since its inception in the 70's, ARDA has offered information on the often confusing and frustrating secondary market. They have held symposiums, monitored resale companies and utilized industry leaders to come up with the best solutions. The Timeshare Resale Resource Center site can answer most if not all of your questions. 

First Steps

The very first step the site recommends is to consult your resort developer, manager or owners' association. Often homeowner associations or the management company have websites or newsletters for advertising your timeshare. They may also have a resale program or an affiliated licensed broker that handles resales. Find out how much past resales sold for, what was the commission, and answers to other concerns. And don’t forget the other owners at your resort. If they own weeks before or after you, or own only a small amount of points, they may wish to purchase more time.

Answers to all Concerns

With the Timeshare Resale Resource Center, ARDA-ROC is attempting to answer the concerns and provide information about all aspects of maneuvering the secondary market from buying to selling. Questions about what kinds of resale companies are around, how to prepare to sell and price your timeshare, how to know if a company offering to sell your timeshare is legitimate, and much more can be answered on this site. 

Alternatives to Resale

Don't forget that there are alternatives to selling - in fact selling is not always the best option to choose.  Consider donating your weeks to charity or philanthropic causes. Organizations like Send Me on Vacation, can make you feel good by making someone else feel good through a donation of a vacation to a breast cancer survivor. Give your family or friends the gift of a week or points, rent your timeshare, trade for a cruise, or check with your resort developer or manager about giving your timeshare back.

Continuing Research 

The National Timeshare Owners Association (NTOA) is working on their first executive study on timeshare resale issues. They are partnering with Dr. Tammie Kaufman, a timeshare professor at the University of Central Florida, industry professionals and timeshare owners to analyze and prepare data compiled by the associations Secondary Market Solutions committee.  NTOA wants to help meet the need to educate consumers on how to buy or sell timeshares safely in the secondary market because of the problem of unscrupulous telemarketing and resale operations. According to NTOA more than 10 billion in available inventory sits idle with more piling on each year due to these scammers.

For more information go to www.ntoassoc.com or www.ardaroc.org/resales/ 
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Mixed Reviews from Industry Experts on Florida's House Bill 453/Senate Bill 932

4/22/2015 Unknown
House Bill 453 passed the House Government Operations Appropriations Committee on March 10, and Senate Bill 932 passed the Senate Regulated Industries Committee on March 11. According to the Orlando Sentinel, the bills - sponsored by State Representative Eric Eisnaugle, R-Orlando and State Senator Kelli Stargel, R-Lakeland - make a number of technical changes to the Florida Vacation Plan and Timeshare Act. 

Is the bill good or bad for the timeshare industry?  Some, such as the American Resort Development Association (ARDA), take a positive outlook on the bill while others like Gregory Crist, CEO of the National Timeshare Owners Association, are not so sure. 

What the Proponents Say

Proponents of HB 453/SB932 say it modernizes state law. Senator Eisnaugle claims the updates provide protections for consumers, including giving owners more control to terminate or extend a time-share plan on a 60 percent vote. ARDA supports the amendments to the Florida Timeshare Act, stating it would:
  • Make needed revisions to modernize the existing timeshare statute to update new product structures (i.e. Real Estate Trusts) and how they will interact with timeshare plans. 
  • Eliminate a fee timeshare owners now pay twice. This would save owners approximately $400,000 annually. Owners would only be charged once per interest rather than per timeshare plan in which an interest is included.
  • Provide a means for owners in older associations to either extend or end their timeshare plan when the plan contains no provisions to do so.
  • Add detail to current multi-site disclosure requirements regarding the term of component sites. The term of each component of a plan must be disclosed rather than only the shortest term.
  • Add detail to existing substitution provisions limiting the amount a plan can be changed in a given year. Adds new provision that gives owners an opportunity to object to a substitution.
  • Revise requirements for continuity in the operation of a timeshare plan when there is a change in plan management.

The Opponents Say

Gregory Crist, CEO of the National Timeshare Owners Association, interprets HB453/SB 932 in a different light than ARDA and lawmakers. He says, "this is a developer-sponsored bill that strips away at consumer-protection mechanisms." He thinks it's good for developers who do not intend to comply with the law.  

In a recent article in the Orlando Sentinel, Scott Smith, an assistant professor of hospitality at the University of South Carolina, responded to a proponent statement that the bill would remove property taxes and certain types of common-area expenses from a current 125 percent cap on annual increases in assessment fees paid by consumers. Scott said, "I don't see the logic in creating the exceptions that would allow greater increases. This would harm the image of the industry and remove one of the best-selling points for timeshares, which is that they are affordable."

Another concern voiced by timeshare owners and attorneys is a provision of the bill that reduces liability for timeshare developers if they make errors in contracts. "Nonmaterial" errors or omissions would not allow purchaser cancellation rights after 10 days. According to the Sentinel article, members of a House civil justice subcommittee expressed that there is no clear definition of "nonmaterial".  Patrick Kennedy, an attorney who represents timeshare consumers, expressed his concerns saying, "that kind of murkiness will lead to increased litigation."

Opponents also question the motives of some of the backers of the bill.  Those backers include:
  • Disney Worldwide Services, Inc. –  donated $40,000, supports the bill but isn't lobbying for it
  • Orange Lake Resort Alliance (Holiday Inn) – donated $10,000 
  • Realtors Political Advocacy Committee – donated $17,500
  • ARDA-ROC – donated $5000
If you would like to express your opinion, submit your views at Timeshare Info. For more information on this legislation, visit ARDA-ROC and The Orlando Sentinel.

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