Showing posts with label tbma. Show all posts
Showing posts with label tbma. 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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TBMA Continues its Focus on the Future of Legacy Resorts

6/10/2015 Unknown
At its upcoming fall meeting, the Timeshare Board Members Association (TBMA) will continue its focus on helping legacy timeshare resorts to successfully compete in the ever changing timeshare market. TBMA invites Board Members and Onsite Resort Managers to attend the meeting October 25-27 in Denver for an update on all the changes, challenges and solutions under TBMA's program, Timesharing 2020 - Creating a Vision for the Future of Legacy Resorts through Strategic Planning.

TBMA, a non-profit association, is dedicated to helping provide technical, organizational and moral support to directors of owner controlled timeshare boards. TBMA provides a forum for the exchange of views, and offers support, informational resources, and assistance to all association members in carrying out the responsibilities of the HOA.

TBMA Fall Meeting Offers Needed Insights

The October 25-27 meeting in Denver offers some needed insights from industry experts during an impressive agenda of educational panels. HOA Board Members will join in the discussions to add their detailed knowledge about running a timeshare resort, and establishing and implementing policies and procedures. 

Key Issues in Educational Sessions

Here are a few of the key issues that will be featured at the fall meeting:
  • Sunset Clauses - governing documents that call for expiration of the timeshare plan, and disclosure issues relative to those sunset provisions that affect resale.
  • Vacation Clubs - their impact on control of a resort and how they can help generate revenues from non-performing owners' association controlled inventory.
  • The Evolution of Marketing - a study of ownership preferences for new and younger buyers, and marketing strategies to reach them.
  • Creating and implementing property-improvement plans for refurbishing and reconstruction projects.
  • Evaluating your resort's financial health.
  • Monitoring a resort's public image, dealing with transient guests, and utilizing social media.

Special "Meet and Greet" session on Sunday

Board Members and on-site managers will get a chance to meet fact-to-face on Sunday prior to the start of the educational sessions. This is a good opportunity to discuss common interests and exchange contact information. More networking opportunities are scheduled throughout the sessions.

Membership and the meeting is free


Membership in TBMA is free and there is no registration fee for board members and resort managers to attend the TBMA meetings. Join at www.tbmassoc.org RSVP for the Denver meeting to resorts@tstoday.com

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Know Your Self-Destruct Clause

1/28/2015 Unknown
The purchase of a timeshare requires due diligence on the part of the buyer. Before the decision to buy is made, the governing documents of your timeshare should be studied carefully. One often overlooked area of the documents is the self-destruct clause (also known as a sunset clause). Timeshare is not alone in this area, many types of contracts include a self-regulating clause for "what if" situations. For instance, in technology, contracts might address: how does a regulatory body adjust and adapt to ever-changing technological innovations? Or when does a product become obsolete? Timeshare has shown to survive the test of time up until now, but what happens if innovations in vacationing one day make timeshare obsolete? This is where the self-destruct clause in your contract comes in.

The Self-Destruct Clause

The self-destruct clause emerged in the timeshare governing documents of the 60's. Timeshare was a new commodity. The first developers thought they had something good, but wondered if everyone would still think so in 25-50 years. As protection, a self-destruct clause was written into the timeshare contract and continues into today's documents. It usually features a date in the foreseeable future when the timeshare would terminate, unless a vote is used to continue the timeshare form of ownership. 
According to The Timeshare Board Members Association (TBMA) there is no industry standard on the self-destruct clause.  Resorts have different provisions for due diligence, the need to obtain votes from owners and the need to comply with state statues concerning the issue. Your resort management should know if a self-destruct clause exists and what that clause requires of owners. Owners should be prepared years in advance of the clause end date, in order to provide the best possible outcome for all.

Research Study Will Look at Governing Documents

The TBMA considers the self-destruct clause and your governing documents one of the top issues facing timeshare in 2015. They’ve commissioned a study with Ph.D. Jeffrey Weinland to do an academic review of the governing documents and their impact on current owners and new buyers, as well as how disclosures are handled as part of timeshare resales. Many issues will be reviewed including what happens after interval ownership is terminated.  

Importance of Preparation

If your timeshare governing documents contain a termination clause that ends the interval ownership what does that mean to the owners? Weinland states that "it does not end ownership of deeded property. The owners still own the pieces. What they lose is their right to occupy a unit for a week. Instead they might all become tenants in common of the real estate and co-owners of the furnishings, fixtures and supplies."
A decision has to be made at this time as to what to do with the property. This is another reason timeshare owners should be prepared ahead of time. If owners and HOA board members know their options well in advance, they can make a more educated vote should the time come. Says Weinland, finding a knowledgeable professional can help "place a value on an ongoing business and also market a resort to developers who may convert it to a hotel or a condo, or raze it and build something entirely different."

First Things First

Weinland suggests some steps to help you to take control of the destiny of your resort:

  • Find out if your resort has the kind of clause discussed above and not one that kicks in after a disaster like a fire or earthquake.
  • Determine how the clause operates. (Is the default a termination unless the owners vote to continue, or is the default a continuation unless the owners vote to terminate, or is no vote contemplated at all and the only way to avoid termination is to amend the governing documents.)
  • Consult with professionals and establish a long-term strategy for communicating with owners so when the time comes you are in control. 
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Who’s Helping Resort Managers and HOA Board Members?

10/15/2014 Unknown

Find out Who and How at the TBMA 2014 Meeting

Doesn't it sometimes seem that the big guys have it easy? The Marriotts, the Hiltons, the Wyndhams, with huge support staffs and access to all the latest in software and technology, seem to have all the bells and whistles to be successful. But, there's an organization that wants to make sure the little guys have what it takes to be successful too. 

The Timeshare Board Members Association (TBMA) 

The Timeshare Board Members Association (TBMA) helps on-site resort managers and HOA board members deal with the nuts and bolts of managing owner-controlled resorts. The organization works with these individuals to find what they need to run a successful timeshare resort—from where to buy linens to setting up booking engines on their websites. Through its educational resources, TBMA helps resort managers and HOA board members find the support and tools they need to be effective representatives of their resorts. 

"No Resort Should Operate in a Vacuum"

TBMA holds that no resort should operate in a vacuum. The organization feels that owner-controlled resorts have been especially hard hit in today's economic and business environment. HOA Board Members and managers are having to deal with issues such as: inventory of unsold intervals, fraudulent transfers, and managing delinquency rates. TBMA helps these members and managers identify problem areas, and make a plan for dealing with them. One way the organization provides information to members and managers is through informative, educational meetings with industry experts.

TBMA 2014 Meeting October 26-28 in San Diego, California

According to TBMA, this year's meeting features a new dynamic, interactive agenda and a special introductory session to meet and greet peers. Educational panels, case to case studies and peer to peer networking provide additional opportunities for ideas and support. A few of the key issues that will be featured and presented by industry professionals at this year’s meeting are:
  • Analyzing your resort’s financial health
  • Coping with unsold HOA inventory
  • A closer look at Board Member fiduciary responsibilities
  • Essential refurbishment/upgrades, planning and funding
  • An analysis of the evolving marketplace

It’s Free


Membership in TBMA is free and there is no registration fee for board members and resort managers to attend the TBMA meetings. Board members and resort managers can join TBMA at www.tbmassoc.org.  RSVP for the San Diego Meeting via Email: resorts@tstoday.com.

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