need link to proper wording on rule

[DeeCee735]

I need the link or if anyone has it, the proper wording on the rule for dvc reserving the right to adjust, but not increase, points by season.

I have a friend who is very interested in purchasing, but before she meets with a guide she'd like to know if i have the answer to a couple of questions. Most of them I can answer, but this one I'd like exact wording.

Thank you for your help.

 

[dzorn]

I need the link or if anyone has it, the proper wording on the rule for dvc reserving the right to adjust, but not increase, points by season.

I have a friend who is very interested in purchasing, but before she meets with a guide she'd like to know if i have the answer to a couple of questions. Most of them I can answer, but this one I'd like exact wording.

Thank you for your help.

No clue but I think they can adjust by season. They would just have to off set it with another.

Denise in MI

 

[RobDoc]

From the POS Rev 5/93 - Exhibit "I" to Declaration of Condominium, Section II "Operation of the Club", 2.3 "Vacation Point Reservation Values":

"A certain number of Vacation Points have been or will be established by DVC in it's sole discretion for the use of each type of Vacation Home during each Use Day at the time the accommodation is associated with The Club, with variations that will take into account, among other factors, anticipated seasonal and geographical demand factors and the related actual use demand of club members experienced by DVC in the operation of The Club.

The total number of Vacation Points required to reserve all Vacation Home types during all Use Days, must always be equal, and be symbolic of, the total number of ownership interests owned by Club Members at that resort. In order to meet the club members' needs and expectations as evidenced by fluctuations in Use Day demand at a given DVC Resort experienced by DVC during a given calendar year, DVC may in its sole discretion increase or decrease the Vacation Point requirements for reservation of a given Use Day within a given Vacation Home type at that DVC Resort during the given calendar year by any amount not to exceed twenty percent (20%) of the Vacation Points required to reserve that Use Day during the previous calendar year; provided, however, that the total number of vacation points existing within a given unit and at that DVC Resort at any time may not be increased or decreased because of such reallocation. The twenty percent (20%) reallocation limitation shall not apply to increases or decreases in Vacation Point reservation requirements related to Holidays which do not occur on the same Use Day each year."

" Any increase or decrease in the Vacation Point reservation requirement for a given Use Day pursuant to DVC's right to make this Vacation Point adjustment must be offest by a corresponding decrease or increase for another Use Day or Days. Adjustments in excess of twenty percent (20%) in any calendar year will require approval of not less than sixty percent (60%) of all then-existing Club Members at that DVC Resort. This right to reallocate Vacation Points is reserved by DVC solely for adjusting the reservation system to accommodate Club Member demand. However, with respect to the Condominium, each Club Member will always be eligible to reserve at the Condominium, subject to availability: at least one (1) Use Day in a studio Vacation Home for every fifteen (15) Vacation Points; at least one (1) Use Day in a one-bedroom Vacation Home for every thirty (30) Vacation Points; at least one (1) Use Day in a two-bedroom Vacation Home for every forty (40) Vacation Points; or at least one (1) Use Day in a Grand Villa for every sixty-five (65) Vacation Points. The following is a graphic depiction of the number of consecutive Use Days eligible for reservation, subject to availability, following the maximum possible reallocations of Vacation Point reservation requirements, based on an annual allotment of 230 Vacation Points. A maximum reallocation of Vacation Point reservation requirements would result in a "levelling' of all seasons, such that Vacation Point reservation requirements would have no variation based on seasonality or different times of the year. Similarly, a maximum reallocation of Vacation Point reservation requirements would result on a "levelling" of differences in Vacation Point reservation requirements based on particular Use Days in one week. This depiction (as to the "Before Reallocation" component) assumes a check-in occuring on a Saturday: "

There is an accompanying chart demonstrating the number of consecutive days a member could reserve stay for each type of Vacation Home based on ownership of 230 points (which was the minimum purchase at the time of this specific POS). The chart is based on all seasons being the same and all days of the week being the same and simply reflects the numbers already stated for each Vacation Home (Studios - 15 points, 1BRs - 30 points, 2BRs - 40 points, GVs - 65) allowing 15 consecutive Use Days on a Studio, 7 use Days in a 1BR, 5 Use Days in a 2BR and 3 Use Days in a GV.

This section of the POS goes on to describe how the Member Getaways program, including RCI exchanges (RCI was the first exchange partner from 1991 - 1995, replaced by II and now back again as the exchange partner).

This POS was from May, 1993 and specifically addressed ownership at OKW so the maximum reallocation numbers won't necessarily apply to other resorts, but subsequent POS documents for other resorts will also have a section devoted to similar information pertinent to other resorts.

 

[RobDoc]

The same information is also found in the 8/98 POS for Hilton Head. It is located in Exhibit "H" to the Master Deed, Section III "Operation of the Vacation Ownership Plan", subsection 3.3 "Home Resort Vacation Point Reservation Values":

"A certain number of Home Resort Vacation Points have been or will be established by DVCMC in it's sole discretion for the use of each Vacation Home in the Condominium during each Use Day, with variations that will take into account, among other factors, anticipated seasonal and geographical demand factors and the related actual use demand of club members experienced in the operation of The Club. The number of Home Resort Vacation Points that a Club Member has will remain fixed and will always be symbolic of the Club Member's Ownership Interest. The total number of Home Resort Vacation Points required to reserve all Vacation Homes during all Use Days in the Condominium must always equal, and be symbolic of, the total number of Ownership Intrerests ownerd by Club Members in the Condominium.

In order to meet the club members' needs and expectations as evidenced by fluctuations in Use Day demand at the Condominium experienced by DVCMC during a given calendar year, DVCMC may in its sole discretion increase or decrease the Vacation Point requirements for reservation of a given Use Day within a given Vacation Home during the given calendar year by any amount not to exceed twenty percent (20%) of the Home Resort Vacation Points required to reserve that Use Day during the previous calendar year; provided, however, that the total number of Home Resort Vacation Points existing within a given Unit at any time may not be increased or decreased because of such reallocation. The twenty percent (20%) reallocation limitation shall not apply to increases or decreases in Home Resort Vacation Point reservation requirements relating to designated periods of high demand which do not occur on the same Use Day each year.

Any increase or decrease in the Home Resort Vacation Point reservation requirement for a given Use Day pursuant to DVCMC's right to make this Home Resort Vacation Point adjustment must be offest by a corresponding decrease or increase for another Use Day or Days. Adjustments in excess of twenty percent (20%) in any calendar year will require approval of not less than sixty percent (60%) of all then-existing Club Members at the Condominium. This right to reallocate Home Resort Vacation Points is reserved by DVCMC solely for adjusting the Home Resort Reservation Component to accommodate Club Member demand. However, with respect to the Condominium, each Club Member will always be eligible to reserve at the Condominium, subject to availability: at least one (1) Use Day in a studio Vacation Home for every fifteen (15) Vacation Points; at least one (1) Use Day in a one-bedroom Vacation Home for every twent- eight (28) Vacation Points; at least one (1) Use Day in a two-bedroom Vacation Home for every thirty-six (36) Vacation Points; or at least one (1) Use Day in a Grand Villa for every sixty-three (63) Vacation Points. The following is a graphic depiction of the number of consecutive Use Days eligible for reservation, subject to availability, following the maximum possible reallocations of Vacation Point reservation requirements, based on an annual allotment of 230 Vacation Points. A maximum reallocation of Vacation Point reservation requirements would result in a "levelling' of all seasons, such that Vacation Point reservation requirements would have no variation based on seasonality or different times of the year. Similarly, a maximum reallocation of Vacation Point reservation requirements would result on a "levelling" of differences in Vacation Point reservation requirements based on particular Use Days in one week. This depiction (as to the "Before Reallocation" component) assumes a check-in occuring on a Saturday: "

The Hilton Head document is essentially the same to the OKW document quoted earlier except for what seems to be minor variations (ie- using 'DVCMC' instead of 'DVC', using the term 'Condominium' instead of 'DVC Resort', etc.)

 

[Dean]

I need the link or if anyone has it, the proper wording on the rule for dvc reserving the right to adjust, but not increase, points by season.

I have a friend who is very interested in purchasing, but before she meets with a guide she'd like to know if i have the answer to a couple of questions. Most of them I can answer, but this one I'd like exact wording.

Thank you for your help.

Simplistically put, the points for a given resort for a given year must stay the same. They can change the points for a given unit, night or season at will otherwise. There is a limit of no more than a 20% change in a given year but that doesn't apply to the smaller components of a lockoff. Realistically this is only a significant risk if one is looking at stays that are not exactly a week, esp S-F or long weekends and/or if one is looking at lower seasons. I've always suggested one consider a cushion of points (around 10%), esp if looking at stays less than a week, off season or smaller units. The cushion is likely not necessary if looking a a 2 BR or larger for a full week Magic or Premier Season.

 

[bookwormde]

It is just as simple as the total points for resort in a year accumulated to all rooms can not change (they can not "create" points by changing the charts)

It is funny that for resorts with no dedicated 1brs they could charge 1000 points a night and still be in compliance (increasing it the maximum 20% per year).