When is maintenance fee paid?

[psac]

Real newbie, have read a lot, but one thing I haven't seen... when is the maintenance fee charged each year? In the use year month?

Thanks!!

 

[browniemtb]

Maintenance fees are charge once every calendar year. We should see a bill in December and its due in January or is it billed in January and due in February, regardless of use year. Some elect to pay electronically every month.....hope this answers your question.

 

[erionm]

Statements will be mailed out shortly after the annual meeting on 12/9/2010 at WDW. If you don't pay monthly by direct debit, dues are to be paid by Jan 15th and are considered late if paid after Feb 14th.

Dues can be setup for monthly direct debit from a US based financial institution with payment dates of either the 1st or 15th of the month. The January payment will always be taken out on the 15th. There are no fees or interest to pay monthly. If you wish to pay monthly, contact Member Accounting at the same number (different phone tree option) as MS.

 

[psac]

Thanks for the information. We're thinking about buying resale, so that's an interesting wrinkle since any offer we made now wouldn't close until after that due date, but the seller could be monthly. We'll have to find out on any deal we look at. Thanks again!

 

[cmanuli]

So you have up to February 13 to pay and you are considered on time?

 

[DebbieB]

Thanks for the information. We're thinking about buying resale, so that's an interesting wrinkle since any offer we made now wouldn't close until after that due date, but the seller could be monthly. We'll have to find out on any deal we look at. Thanks again!

Who is responsible for the 2011 dues should be addressed in your offer. The seller paying monthly or not really doesn't factor in. Depending on the points available, they may want you to pay all the 2011 dues or split them. If they have used their 2011 points, you may want them to pay all. It's negotiable on a resale.

 

[erionm]

So you have up to February 13 to pay and you are considered on time?

You can pay up until 2/14 with no penalties. This is what's posted on the member website:

Annual Dues are due on January 15, 2010. Late fees and interest will be assessed after February 14, 2010.

 

[Jason@dvcstore]

Thanks for the information. We're thinking about buying resale, so that's an interesting wrinkle since any offer we made now wouldn't close until after that due date, but the seller could be monthly. We'll have to find out on any deal we look at. Thanks again!

If you were to deal with The Timeshare Store, Inc.® here is sample of a typical transaction.

1) If you buy a 200 point listing at Saratoga Springs and you are getting all the 200 points for 2011 then most likely the seller will want you to pay the dues for all 200 points at closing and the seller would be reimbursed accordingly.

2) If you buy a 200 point listing at Saratoga Springs and you are getting only 100 points for 2011 then most likely the seller will want you to pay the dues for those 100 points at closing and the seller would pay the dues on the other 100 points.

3) If you buy a 200 point listing at Saratoga Springs and you are getting 0 points for 2011 then the seller would be responsible for all 200 points for 2011 and you would start paying dues in 2012.

I hope that helps.

Jason

 

[LisaS]

So you have up to February 13 to pay and you are considered on time?

Not "on time" exactly because payment is due by Jan 15th but no late fees are applied until after Feb 14. I have read here that if you have a reservation with a check-in date between Jan 15 and Feb 14 and haven't paid your dues by the time you arrive, you might not be allowed to check in until you do.

 

[Dean]

Real newbie, have read a lot, but one thing I haven't seen... when is the maintenance fee charged each year? In the use year month?

Thanks!!

Fees are paid on a calendar year basis, not a UY basis. Thus most people overpay fees on resale purchases. Still, you need to look at the overall package to see what works for you.

The overpayment of dues isn't generally big deal on loaded contracts but can be make or break on a stripped contract.

 

[psac]

Thanks again for all the useful info!! All makes a lot of sense.

 

[Caren]

Statements will be mailed out shortly after the annual meeting on 12/9/2010 at WDW. If you don't pay monthly by direct debit, dues are to be paid by Jan 15th and are considered late if paid after Feb 14th.

Dues can be setup for monthly direct debit from a US based financial institution with payment dates of either the 1st or 15th of the month. The January payment will always be taken out on the 15th. There are no fees or interest to pay monthly. If you wish to pay monthly, contact Member Accounting at the same number (different phone tree option) as MS.

How soon after the annual meeting are we likely to be able to pay dues on-line?

 

[erionm]

How soon after the annual meeting are we likely to be able to pay dues on-line?

In prior years dues have been posted to the member website around the 17th or 18th of December.