Ocean Forest Colony News

Transcription

1 November North Ocean Blvd. Myrtle Beach, SC Inside this issue: President s Message 2013 Board of Directors and Elected Officers Defender Realty s Resale Corner General Manager s Corner 2013 Interval Calendar 2013 Approved Operating Owner Be Aware - A MUST Read (insert) President s Message Hello Property Owners, Your OFC Board of Directors held their fall meeting on Saturday Oct 6, I am happy to report your Association is in very good financial condition. Also, the building and grounds are in excellent condition. The board was able to hold the maintenance fees to only a ten dollar increase for next year. We continue to be very pleased with Defender Resorts, our management company, for their hard work and co-operation in working with the Board of Directors. New officers were elected for next year and they are as follows: President: Keith Lawson V-President: Horace Porter Secretary-Treasurer: Sam Owens Director: Tommy Ervin Director: Erin Wurst We wish everyone a bountiful Thanksgiving and a Merry Christmas and Happy New Year. Sincerely, Tommy Ervin, President of OFC Board of Directors Board Members for Elected Officers for President Keith Lawson Vice President Horace Porter Secretary/Treasurer Samuel (Cortez) Owens Director Tommy Ervin Director Erin Wurst You may contact the Board of Directors By addressing a letter to the Board Of Directors C/O Defender Resorts, Inc. PO Box 3849 Myrtle Beach, SC Or at ofc@defenderresorts.com ofc@defenderresorts.com

2 Page 2 DEFENDER REALTY S RESALE CORNER A number of owners have taken advantage of the special opportunity to convert their week to RCI POINTS. This program gives them a tremendous amount of Flexibility and greater Tradeability. RCI POINTS plus the DEFENDER FLEX BONUS NIGHTS are now teamed up to offer the BEST of both worlds. RCI Point members at Defender Resorts now have the opportunity to use the Defender Flex Bonus Nights at participating resorts if you own a week 1-12 or If you own one of these weeks and convert to RCI POINTS, you become eligible to use up to thirty-two (32) Bonus Nights as well as enjoy the flexibility of the RCI Points program. Call for complete details. Even if you don t own a week that offers the bonus nights, the RCI POINTS is the best solution for great vacations. For a limited time we are offering an End Of Summer Special Opportunity to convert your week to points at over 37% OFF the regular conversion price and we will pay to enroll you in RCI for FREE, so act today. If you own a week that is eligible for Bonus Nights, you truly have a world of great vacations. Call Tony Circillo at (843) Ext for complete no obligation details on this expanded program. January 1 st February 1 st March 1 st April 15 th Maintenance Fees Important Dates and Additional Fees Maintenance Fee Due Date $50.00 Late Fee Added Interest Charges - 1.5% Added Monthly Right to Cure Date $50.00 Fee Added Turn to Collection Agency Collection Fees Added Be our friend, please! Find us on Facebook for updates, specials, events and more! If you like going to each year and do not travel any place other than Myrtle Beach, we have an opportunity to acquire a week in the Summer at tremendous savings. We have one summer week available well below the resale market price. These weeks have been selling for much higher, but at this price we will not have it long. So call Tony Circillo at (843) Ext today! Have a great fall and if we can be of any assistance, please do not hesitate to contact us. Frank Baker Defender Realty (843) fbaker@defenderresorts.com

3 Page 3 General Manager s Corner We have enjoyed seeing all the owners and guests during the summer season, and we look forward to seeing our owners in the fall and winter season. If you re interested in pre-paying your Maintenance Fees or making payments on future year s fees, just give us a call at the Beach House. There are some options available to help assist you with the burden of a one time charge verses spreading the expenses over 12 months with a monthly bank draft. The best time to check on your Maintenance Fee balance is before they become past due. There have been calls from guests inquiring about rentals for the summer months. If you would like to rent your unit, please fill out a rental agreement form and return it to the Beach House. We will do our very best to rent your unit. If you have any questions about renting your unit, please feel free to call the Beach House at (843) Please remember that parking at Ocean Forest Colony is very limited during this time of year. At this time we do not have any overflow parking and currently do not have a solution to this problem. While staying at, you are invited to participate in the daily activities that the Beach House offers. Activity sheets can be picked up at the Beach House during check in. We look forward to seeing you again, and have a safe trip! Betty and the Gang Owners always receive a discounted rate for rentals. Call the Front Desk and ask about availability for a weekend get-away, a second honeymoon, or just a few extra days at the beach Week Saturday to Saturday W 1 01/05/13 01/12/ /12/13 01/19/13 BLUE 3 01/19/13 01/26/ /26/13 02/02/ /02/13 02/09/13 WHITE 6 02/09/13 02/16/ /16/13 02/23/ /23/13 03/02/ /02/13 03/09/ /09/13 03/16/ /16/13 03/23/ /23/13 03/30/ /30/13 04/06/ /06/13 04/13/ /13/13 04/20/ /20/13 04/27/ /27/13 05/04/ /04/13 05/11/ /11/13 05/18/ /18/13 05/25/ /25/13 06/01/ /01/13 06/08/ /08/13 06/15/ /15/13 06/22/ /22/13 06/29/13 RED 26 06/29/13 07/06/ /06/13 07/13/ /13/13 07/20/ /20/13 07/27/ /27/13 08/03/ /03/13 08/10/ /10/13 08/17/ /17/13 08/24/ /24/13 08/31/ /31/13 09/07/ /07/13 09/14/ /14/13 09/21/ /21/13 09/28/ /28/13 10/05/ /05/13 10/12/ /12/13 10/19/ /19/13 10/26/ /26/13 11/02/ /02/13 11/09/13 W 45 11/09/13 11/16/ /16/13 11/23/13 R 47 11/23/13 11/30/13 W 48 11/30/13 12/07/ /07/13 12/14/13 B 50 12/14/13 12/21/13 RED 51 12/21/13 12/28/ /28/13 01/04/14

4 Page 4 OCEAN FOREST COLONY 2013 APPROVED BUDGET Operating Revenue Administration and General Expenses Current Year Maintenance Fee Billing $ 352,176 Management Fees $ 27,650 Allowance for Uncollectable Fees $ (71,879) Accounting $ 4,343 Maintenance Fees - Prior Years $ 2,000 Data Processing $ 4,314 Late Charge on Delinquent Fees $ 2,000 Outside Accounting/Audit $ 2,500 Interest Charge on Delinquent Fees $ 1,200 Board of Directors/Annual Expense $ 700 Rental Commission/HOA Rentals $ 600 Newsletter $ 500 Sale of Association-Owned Weeks $ 700 Postage $ 1,500 Rental of Association-Owned Weeks $ 2,500 Bank Charges $ 275 Dissolution Fee Income $ 1,150 Office Supplies $ 500 Vending Income $ 250 Legal Fees $ 1,000 Bank Interest $ 50 Printing $ 700 Miscellaneous $ 250 Taxes and Licenses $ 300 Gross Operating Revenue $ 290,997 Lockbox Charges $ 350 Dues and Subscriptions $ 150 Transfer Funding to Reserve $ 53,550 Administrative Services (Beach House) $ 4,734 Total Deductions from Gross $ 53,550 Mileage Costs $ 150 Miscellaneous $ 200 Net Operating Revenue $ 237,447 Total Administrative Expense $ 49,866 Utility Expense Leases and Contracts Electricity - Units $ 11,823 Exterminating $ 920 Electricity - Laundry $ 2,807 Refuse Collection $ 2,000 Telephone $ 7,439 Property Taxes - Real Estate $ 23,276 Water & Sewer $ 3,859 General Insurance $ 37,656 Internet Service $ 1,284 Federal & State Income Tax $ 550 Cable TV $ 3,745 Total Utility Expense $ 30,957 Total Leases and Contracts $ 64,402 Housekeeping Expense Total Operating Expense $ 237,447 Contract Laundry Service $ 10,403 Linen Purchases $ 1,950 Net Operating Income $ - Room Purchases $ 3,100 Contract Housekeeping Service $ 34,505 Total Housekeeping Expense $ 49,958 Maintenance Expenses Pool Maintenance & Repair $ 3, Maintenance Fee Per Week $ Pool Supplies $ 3,300 Building Maintenance $ 15,000 Contract Maintenance/ Bellman $ 18,334 Yards & Grounds Maintenance $ 1,680 Total Maintenance Expenses $ 42,264

5 THIRD NOTICE URGENT: OWNER ALERT OWNER BE AWARE of unscrupulous companies that make offers to sell or otherwise take possession of your deeded week interval for a fee. During the past few years while our Country has been in recession, numerous suspect Transfer Companies have mushroomed whereby offering owners, for a fee (which in many cases is several thousands of dollars), the opportunity to sell or transfer their ownership. Unfortunately, the deeds are not transferred and recorded which is found out by the unsuspecting owner when they receive a maintenance fee invoice for the next year. PLEASE DON T LET THIS HAPPEN TO YOU. CALL THE FRONT DESK AT BEACH HOUSE BEFORE ACTING ON ANY OFFER. In an effort to protect the Association and the owners of, the Board of Directors met on October 06, 2012 and as part of their order of business adopted the Ownership Transfer Policy found below. If you have any questions concerning the transfer of ownership policy, please contract the resort office. Policy Statement The Association has a fiduciary responsibility to ensure it has reviewed a new member s credit worthiness and that it has verified the identity of new Members. The Association also has the responsibility to ensure that the conveyance documents used to transfer an interest in the resort properly and legally describe the interest. Therefore, The Board of Directors of does hereby adopt the following Ownership Transfer Policy under its Rules and Regulations to replace the Ownership Transfer Policy language adopted on March 9, The amended policy language will read as follows: Rules and Regulations Ownership Transfer Policy Amended October 6, 2012 Notification of Sale of Vacation Ownership, Timeshare Interval or Timeshare Estate. Not later than (30) days before the voluntary or involuntary sale, transfer or assignment of any Vacation Ownership, Timeshare Interval or Timeshare Estate the current Member shall notify the Association in writing. The current Member or their authorized escrow agent shall submit a Standardized Vacation Ownership Estoppel request, a Company Resolution from the proposed transferee (if a Corporation, Trust or Company), a Membership Application from the proposed transferee and a pro forma of the conveyance document prior to its recordation. In the absence of such notice and required documentation, and prior to the Association s approval of the recordation of the conveyance documents, the Association shall not be required to recognize the transferee for any purpose. Any action taken, prior to the giving of such notice and required documentation by the transferor, as an Owner, may be recognized by the Association. Prior to receipt of any such notification and documentation by, any and all communications required or permitted to be given by shall be deemed duly given and made to the transferee if such communications are duly made and given to the transferor.