This message was passed on to us from a man called John who believes that we and all consumers should be aware of what is happening at Loch Rannoch and how they make a difference to they own timeshare property.
I hope to report more on this resort, as it shows all timeshare is not bad. It’s the present managing and administrating of it which leave empty pockets and large personal exposure to bad committee members, who act against the interests of the club members (they say they serve) which is the ongoing issue.
see our invitation to a road show.
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Message as received
Hi John my name is David and I am new to the owner’s forum. As I said, in an earlier message, I own at Villacana, Elmerscourt and Loch Rannoch. The owners committee run the resort themselves and this has proved to be very cost effective and better controlled and works in the interests of all owners at the resort. The club save the whole 15% fee on the maintenance costs which MRL charge at all their resorts.
The owners recently voted for an exit strategy which the owners committee had been considering for some time because of perpetuity contracts.
Three motions were passed by a vote of over 90%
(1)was to allow a representative of a deceased owner to hand back his apartment week/ weeks to the club on payment of an exit fee, which could be up to £2500 per week but is determined by the owners committee.
(2) A voluntary hand back of apartment week/weeks to the club, again with an exit fee to be determined by the club committee. To ensure that the hand back of apartments is done in an orderly manner no more then 1/2% of apartment weeks can be handed back at the owners committees discretion each year, which equates to 1/2% of 4335 weeks (22 weeks).
(3) The club have created an associate owner system whereby apartment weeks handed back can be purchased for a fixed term of 10 years or re-let for rent as the case may be. The associate owners do not have the same rights as other Loch Rannoch owners and are not allowed to vote at AGM’s or any other meetings. The main difference with these proposals is that the whole of the exit fee goes to the club. Existing owners who want to stay are fully protected because they can continue to use their fixed weeks in fixed units.
This could be rolled our everywhere. This is what some owners and the TCA have been saying all along. You own the property it’s yours. You can control it, manage it and invest in it.
The TCA are not on the side of fixed week owners or floating week owners. We are just here to inform you the owners of legal, legitimate and more beneficial ways of owning managing and enjoying the property you in fact own.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk