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[Sandisw]

Yes, that I understand. But it also begs the question of why it was so off. There's also might be a correlation with DVC using RIV points to square up with April-Oct UY's. Perhaps they decided to contribute to the dues which ends up producing a larger credit. Something makes RIV unique since it's not their first rodeo and budgeting operating costs should be that far off.

edit - RIV dues are remaining relatively flat for 2021 compared to 2020, yes? That would almost seem to be excessive budget again if this really is because of too large of operating expense budget but at least it flows into cap reserves the next year if it is.

What I am wondering is that with the closure this year, and it not being a normal year, they may have kept them pretty flat because they still don’t have a full year under its belt?

Yes, they have set budgets before, but the Skyliner is a new piece not part of others.

 

[CarolynFH]

What I am wondering is that with the closure this year, and it not being a normal year, they may have kept them pretty flat because they still don’t have a full year under its belt?

Yes, they have set budgets before, but the Skyliner is a new piece not part of others.

I think you’re right. They seem to overestimate the first year’s MFs for new resorts and then can make more accurate forecasts after that based on actual expenses. RIV hasn’t had a full year of operations, so they’re still overestimating to be safe.

 

[drusba]

The provided credits at the meeting to 2021 dues resulting from the lower 2020 operating costs does not provide everything. We still do not know whether there is going to be any credit to 2021 dues, or possible increase, as a result of actual property taxes paid in 2020 in relation to dues collected for taxes.

 

[Winston Wolf]

I thought they were going to post a video of the event at the conclusion of the meeting. Anyone find that yet?

 

[_auroraborealis_]

I thought they were going to post a video of the event at the conclusion of the meeting. Anyone find that yet?

Probably being edited and compressed.

 

[WilsonFlyer]

Reminiscent of middle school assemblies and pep rallies.

 

[KAT4DISNEY]

The provided credits at the meeting to 2021 dues resulting from the lower 2020 operating costs does not provide everything. We still do not know whether there is going to be any credit to 2021 dues, or possible increase, as a result of actual property taxes paid in 2020 in relation to dues collected for taxes.

True. It's still not the final calculation until the tax adjustment is included.

 

[KAT4DISNEY]

What I am wondering is that with the closure this year, and it not being a normal year, they may have kept them pretty flat because they still don’t have a full year under its belt?

Yes, they have set budgets before, but the Skyliner is a new piece not part of others.

I wonder what the definite number are in their allocation between all the resorts. And of course part should be to Disney parks too as I'm sure there are park only visitors that use it between Epcot and DHS.

 

[Lorana]

They moved BRV's refurb to 2022 but will do softgoods at VGF and Poly next year?!

VWL is the stepchild, isn't it.

Given that said refurb was to start in 2021, it wouldn't have been especially difficult to not allow them to be booked in the first place, which is now what they are doing with VGF, Poly and Aulani, and what they did with Saratoga, and what they have done in every other refurb ever.

Right?? There's fairly large availability open for BRV, too. Surely they could start the refurb in 2021? BRV is so past due and I was really hoping for a refurb before the 50th Anniversary. We're also likely moving our family trip to Feb 2022, and it would have been nice to have the refurb done by then, too!

 

[AZMermaid]

Thanks for the dues credit info. Did they say if Aulani subsudized dues are also receiving the credit? It seems like we should be, but 6.68 is higher than my 2021 subsidized dues without the credit.

 

[KAT4DISNEY]

Thanks for the dues credit info. Did they say if Aulani subsudized dues are also receiving the credit? It seems like we should be, but 6.68 is higher than my 2021 subsidized dues without the credit.

Credit of $1.68/pt should go to all owners.

 

[AZMermaid]

Thanks!

 

[Tigger2ntinkerbell]

So let me see if I understand this.
I paid my 2020 dues this year, like everyone else.
And in the second half of this year I sold 3 of my contracts - Disney states dues must be current to sell a contract.
The "new" owners who did not pay any 2020 dues on the Resale , are getting my credit.
The money I had to pay .
And I am not getting the credit .

 

[Lorana]

So let me see if I understand this.
I paid my 2020 dues this year, like everyone else.
And in the second half of this year I sold 3 of my contracts - Disney states dues must be current to sell a contract.
The "new" owners who did not pay any 2020 dues on the Resale , are getting my credit.
The money I had to pay .
And I am not getting the credit .

Did they reimburse you for the dues when you sold the contract, or did you cover the dues? Asking only because if they did reimburse you - which is common in resales - then they effectively did pay the dues.

But regardless, to answer your question, yes it does seem whomever currently owns the contracts will get the credit towards their 2021 dues.

 

[Bing Showei]

So let me see if I understand this.
I paid my 2020 dues this year, like everyone else.
And in the second half of this year I sold 3 of my contracts - Disney states dues must be current to sell a contract.
The "new" owners who did not pay any 2020 dues on the Resale , are getting my credit.
The money I had to pay .
And I am not getting the credit .

As it pertains to tax estimates and adjustments, prior to 2014, your understanding is exactly right. And as it was prior to 2014, when there was an underestimation, the new deed holder was on the hook for, and charged for, the difference.

It’s also the case that whenever a stripped contract is sold, where used points are reimbursed dues, the new owner ends up having to pay the difference between the “reimbursed” dues from the seller and the actual dues. All of this is the responsibility of the buyer and seller to work out during the price negotiation phase of a transfer. A buyer of a stripped contract should make the case that dues plus 5% is what they want to be credited. Maybe that’s worked into the purchase price. Whatever it is, once you sell, you have no stake in the matter.

You are surrendering your deeded interest, you no longer have legal obligation or claim to anything on the contract.

This is how it should be. When someone buys your contract they are assuming all rights and responsibilities that ownership entails. 20+ years of dues and all.

 

[KAT4DISNEY]

So let me see if I understand this.
I paid my 2020 dues this year, like everyone else.
And in the second half of this year I sold 3 of my contracts - Disney states dues must be current to sell a contract.
The "new" owners who did not pay any 2020 dues on the Resale , are getting my credit.
The money I had to pay .
And I am not getting the credit .

Must be current but you could have had in the deal to be reimbursed by the buyer if they received all the points. Most resales do have the seller reimbursed if the points are there unless it's sold late in the year but that's all negotiable.

 

[Tigger2ntinkerbell]

Did they reimburse you for the dues when you sold the contract, or did you cover the dues? Asking only because if they did reimburse you - which is common in resales - then they effectively did pay the dues.

But regardless, to answer your question, yes it does seem whomever currently owns the contracts will get the credit towards their 2021 dues.

I was told that it was too late in the year to ask for reimbursement because the new owners would have to pay the 2021 dues in less than 30 days.

 

[_auroraborealis_]

I was told that it was too late in the year to ask for reimbursement because the new owners would have to pay the 2021 dues in less than 30 days.

You could have requested it.

 

[Sandisw]

I was told that it was too late in the year to ask for reimbursement because the new owners would have to pay the 2021 dues in less than 30 days.

I am one who believes that because dues are based on calendar year, not UY, they should be treated as Disney treats it...for ownership of the contract.

I have sold in the fall, and did not ask for reimbursement either because it wasn’t worth trying to negotiate a month or so of dues...I am sure that is what the broker was referring to.

Regardless, since you are no longer the owner, you are not responsible for the 2021 dues and this credit is being given to current owners against those vs, putting it in the capital reserves budget which is where it normally would normally go.

I too sold a contract this year in June and did not ask for 2020 dues and would not expect DVCM to reimburse me for something I no longer own.

 

[CarolMN]

So let me see if I understand this.
I paid my 2020 dues this year, like everyone else.
And in the second half of this year I sold 3 of my contracts - Disney states dues must be current to sell a contract.
The "new" owners who did not pay any 2020 dues on the Resale , are getting my credit.
The money I had to pay .
And I am not getting the credit .

When you sold, you transferred the contract and all of the associated rights and obligations to the buyer. It's not your credit. You transferred it to the buyer as part of the sale.

If the taxes ended up more than estimated for 2020, the extra due would have been added to 2021 dues and the buyer would have been obligated to pay that, even though he didn't own the contract for most of 2020.