SSR fees post Renovation

[LuigiSpice]

I've seen a lot of talk about an upcoming renovation at SSR. How has that affected maintenance fees at other resorts when this has happened in the past? Can we no longer assume SSR will continue to be the same bargain going forward?

 

[erionm]

The projected costs of refurbishments are built into the Capital Reserves portion of your maintenance fees.

 

[LuigiSpice]

The projected costs of refurbishments are built into the Capital Reserves portion of your maintenance fees.

I have no idea what that means. LOL

 

[chalee94]

I have no idea what that means. LOL

It means that part of your regular annual dues is set aside to pay for these planned/scheduled refurbishments. There should be no impact.

When a hurricane hit HHI, it caused unplanned damages - which led to a bump in annual dues. That was a different situation than SSR's planned refurbishment.

 

[drusba]

Dues are broken down into three categories: operating expenses which are mainly the costs applicable to operating the resort for the year, capital reserves which are mainly amounts collected each year designed to accumulate and then be used when significant work in the future is anticipated, and property taxes. Refurbishments that occur only every so many years are covered mainly by the capital reserves portion of dues and when it comes time to do those refurbishments, the total money needed has already accumulated in the capital reserves budget.

The result, giving BWV as an example: it had a refurb in 2015 to 2017. During that time we saw the total amount of the capital reserves fall annually while DVC was still collecting a usual annual amount applicable to future projects after 2017. Operation dues did not show any real change due to the refurb. In other words the refurb itself did not result in higher dues. There is a risk that there could be an addional assessment such as mentioned above for repairs after hurricanes but otherwise the capital reserves previously collected over the years cover it. Nevertheless. you should assume SSR dues are going to rise on an annual basis but that rise will mainly be due to higher operating costs, e.g., the new union contract for higher wages, higher capital reserves charged per year because the future projects will likely cost more than they do today, and the inevitable higher property taxes which depend on the ever-increasing degree of monetary greed of the local government entities.

 

[skippytx]

I have no idea what that means. LOL

To try to explain it simply: They put a little money away each year in a savings account to pay for the large expenditures like a refurbishment or roof replacement. $1.09 per point goes to this fund.

The details can be found here https://disneyvacationclub.disney.g...iation-notices/2018/2018-Condo-Notice-SSR.pdf

 

[disneynutz]

We went from a refurb schedule where years would go buy, to a more frequent schedule. How are our dues not increasing because of the additional frequency? Any idea why DVCMC didn't adopt the more frequent schedule years ago?
Bill

 

[Wakey]

SSR has considerable capital reserves (would have to review accounts again to remind myself how much). Whether this is enough to cover the refurb and leave some in the pot, who knows.

 

[Deb & Bill]

Increase in wages probably was a big reason for the larger increase in maintenance fees this year. Plus the need to have extra staff for security and daily trash pickup.

 

[Craig Williams]

Whatever the future increase in MF will be, it will certainly maintain its competitive edge over the other resorts with higher MF. Think about it, every resort gets a make over and full refurb every 7 years I believe. Its the same schedule for every resort. Meaning whatever SSR MF's increase due to the refurb, so will the other resorts.

 

[Deb & Bill]

Whatever the future increase in MF will be, it will certainly maintain its competitive edge over the other resorts with higher MF. Think about it, every resort gets a make over and full refurb every 7 years I believe. Its the same schedule for every resort. Meaning whatever SSR MF's increase due to the refurb, so will the other resorts.

I thought it was 14 years for complete renovation and seven years for soft goods.

 

[Craig Williams]

I thought it was 14 years for complete renovation and seven years for soft goods.

Yes I believe you are correct every 7 years they are doing some type of renovations.

 

[Jkarrows]

So what stage is SSR at, the 14 year full refurb?

Has anyone seen or read any details about what they plan to do?

 

[crvetter]

So what stage is SSR at, the 14 year full refurb?

Has anyone seen or read any details about what they plan to do?

It's a full renovation more inline with the amount done at OKW recently (more than what was done at BCV, BRV, BWV for example). Here is an article with the most pictures that have come out thus far. The biggest change is the sofa bed converting to what DRR will have.

https://dvcnews.com/index.php/resor...-first-look-at-saratoga-springs-refurbishment

 

[Jkarrows]

It's a full renovation more inline with the amount done at OKW recently (more than what was done at BCV, BRV, BWV for example). Here is an article with the most pictures that have come out thus far. The biggest change is the sofa bed converting to what DRR will have.

https://dvcnews.com/index.php/resor...-first-look-at-saratoga-springs-refurbishment

Thanks, interesting that it states to start in 2019 and finished in 2020 but as yet i have not seen any start date.

 

[crvetter]

Thanks, interesting that it states to start in 2019 and finished in 2020 but as yet i have not seen any start date.

They have already closed off some buildings and started the process it seems based on reports on the boards

 

[Jkarrows]

They have already closed off some buildings and started the process it seems based on reports on the boards

OH OK thanks for the heads up.