IMPORTANT PHONE NUMBERS
Resort Phone 772-231-1000
Resort Fax 772-231-6843
Reservation line ONLY 800-662-7333
Security 772-473-7308
Web Site reefoceanresort.com
Please remember the 800 line is a separate line and cannot be transferred to the rooms.
Vero Beach also has a web information site with lots of information about the Vero Beach area. The Reef web site is: www.reefoceanresort.com. There is a members only section you will need a password. Please e-mail the Reef for your password at: . The password is in lower case with no spaces or slashes, if you have a problem accessing the owners section with your ID and password you must go into your computer security system and allow access to the web site past your firewalls and security. Remember our web site address is: www.reefoceanresort.com
Don’t forget to check out the virtual reality tour of our resort.
PRESIDENT’S CORNER
I write this article as we approach the middle and most potentially active time frame for Hurricanes. All we can say is, “so far so good”.
The Board of Directors concerns for 2009 have unfortunately proved correct. Our rental income is down over 1/3. The LA Dodgers leaving from Spring
SEPTEMBER 2009
training and the economics combined to negatively impact our rental income.
Our history of assessment payments continue to be outstanding. However, non-payment has crept up from less that 8% to 10.2%. Of major concern are 54 new unit weeks added to the delinquency list. This represents about $20,000.00 in assessments paid in 2008 we don’t have in 2009. Adding that to the Reef owned units, the shortfall becomes approximately $41,000.00 Major adjustments have been made to our spending as we progress through 2009.
2009 property taxes have been set aside and invested. We are maintaining a $100,000.00 limit at each of our financial institutions to protect our monies. The limit of FDIC insurance was raised to $250,000.00 but was to end Dec. 2009. It was recently announced the date has been extended to 2013. We will continue to be prudent in choosing our financial Institutions.
All the railings on the 300 building have been replaced. The South fence has been replaced. We have final approval on our “Hot Tub” replacement. These were our major projects for 2009.
Be assured, all our bills have been paid. Our Reserves are spread across our nine categories total $417,000.00 (August 2009). Our largest reserve is the Seawall ($305,000.00). We continue to fund and watch the seawall closely. We have 300 feet of seawall. Two years ago, replacement costs were estimated at $1,000.00 per foot. Many owners can remember when the North seawall was washed out along with ½ the sand under the 100 building. We were lucky it didn’t fall into the ocean. That project required a Special Assessment to repair and replace. Your Board is attempting to fund and reserve for a major portion of that expense. Currently, the seawall is performing as designed.
We remain open for your comments, concerns and suggestions. Your Board of Directors weighs all of these with decisions based upon their judgment of what is best for the resort and all of the owners.
Our objective remains for each owner, exchanger and guest to have an enjoyable and pleasant experience with your stay at your Resort.
Respectfully,
Ervin Roberts-President-Board of Directors
Reef Ocean Resort
RENTALS
Rental revenue at the Reef is down 33% from last year, this is the first year we did not rent all of our units the month of March. We attribute this to the Dodgers leaving town and the downturn in the economy. We are hoping things will pick up in 2010. We have not raised our rental rates since 2007. We are in fact discounting some rentals at the last minute for walk-in customers just to fill some of the rooms. We are not only facing a downturn in the economy but there are two major luxury hotels open now on the beach (Costa del E’ste) and (Vero Beach Resort and Club) but also the Marriott has opened a new hotel on U.S. 1 in Vero. They have sharply discounted their rooms and offer many amenities we cannot compete with.
RENTAL CONTRACTS
We are enclosing a rental contract for 2010. If you have not ALREADY sent in a rental contract for 2009 or 2010 and you wish to rent your unit please fill it out and return it to us as soon as possible. PLEASE REMEMBER RENTAL CONTRACTS HAVE TO BE SENT EVERY YEAR. We do not carry over your rental contract from one year to the next. Fill out a new contract each year. Rent checks are mailed to owners 30-45 days after the LAST day of your rental week. We must wait for the guest to check out to process their payment,(sometimes they are here two weeks or more) then we wait for the funds to clear our bank at that time we process the rental proceeds and issue a check to the owner. We have been having problems with some owners not receiving their mail. If we mail the check to the authorized address and the check is lost and a stop payment is issued at the bank the fee $35.00 is taken out of the rental proceeds. Please remember RENTALS ARE NOT GUARANTEED, if you call and check to see if your unit rented prior to arrival this does not mean the person who rented the unit arrived. Sometimes there are last minute cancellations, also we take a deposit but if the person disputes the charge with the credit card company most of the time we do not receive any funds, therefore you will not receive any funds. If you call and you are told your unit was rented it is best to call back on Sunday or Monday of the week in question and verify the person has indeed checked it. Also, sometimes when the renter arrives at the resort they change their minds about the unit and move to a different unit, again there will be no rental money if the renter moves to a different unit.
If you have rented a unit there will be no cancellations for ANY reason if it is within 30 days of arrival. Your deposit will not be refunded. We offer trip insurance and strongly recommend you take the insurance to protect your travel plans. This is the same company CSA that offers your maintenance protection insurance.
EXCHANGE COMPANIES
We are affiliated with two of the major exchange companies. RCI (Resorts Condominium International) and I.I. (Interval International). We also have an alternate exchange company for those of you who do not have a membership with RCI or II and do not exchange often.
The name of the company is: Platinum Interchange, they are based in California and they do not charge a membership fee. Their main purpose is to do exchange for timeshare owners. The number is 1-800-854-2324 and the web site is: www.platinuminterchange.com
BOATS, CAMPERS AND TRAILERS
Please remember, due to lack of parking space we do not allow boat/trailer parking here at the Reef. If you bring your boat please call the city marina for docking space. The number is 772-978-4960
PETS
NO PETS ALLOWED—This is at all times. If there is a pet in the unit for any amount of time you will be charged a cleaning fee of $200.00, and the pet must be removed immediately. If you have a “service” animal you must notify management prior to your arrival. Also, upon check-in a certificate of service must be presented to allow the animal access. There is a cleaning and fumigation fee of $200.00 this is to ensure the unit can be used by the next guest; many people are allergic to pet fur and dander.
NO SMOKING IN UNITS
Since our no-smoking rule went into effect most of our owners and guests have respected our request to not smoke in the units. A BIG THANK-YOU to all of you for your co-operation, we certainly appreciate your help. Our units look great and we are working very hard to keep everything looking good for your enjoyment. There will be a $200.00 charge if we detect a smell of smoke in the units PLUS the cost of any damage and loss of rental revenue to shut the unit down for cleaning. This can run into several hundred dollars….SO TO BE SAFE DO NOT SMOKE IN THE UNITS—REMEMBER YOU ARE RESPONSIBLE FOR YOUR GUESTS IF THEY SMOKE IN THE UNITS ALSO.
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SALE!!!SALE!!! SALE!!!
REEF UNITS NOW ON SALE— OUR ½ PRICE SALE IS ONCE AGAIN BEING OFFERED
Due the successful past sales and the continued demand from many owners we are once again offering our ½ price sale on our Reef units. Bids and payment must be in by October 9th. We will open the Bids on October 12th and contact the person who wins the bid. Please be sure to enclose your check and phone number so I can contact you.
Please review the enclosed sale list and take advantage of our special prices. Call us at 772-231-1000 if you have any questions.
Remember this sale list is for the Reef Ocean Resort owned units only and are not units listed by owners for sale.
DEEDS AND TRANSFER OF OWNERSHIP
We are continuing to be very busy with owners changing the ownership of their units to their children and other family members. We are increasingly busy handing the transfer of ownerships. The following guidelines will be helpful to you if you are thinking of transferring your ownership.
1. The original deed must be sent to the Reef Ocean Resort with a letter from the seller including the details of the sale (unit number, week, the agreed upon price, who will pay the maintenance fees and closing costs, and the name of the buyer, signed by the seller) They must also request the Reef Ocean Resort assist in the recording of the deed in Indian River County.
2. The buyer must also send a letter to the Reef Ocean Resort stating their intention to buy the particular unit, the week number, agreed upon price, any other purchase agreement between seller and buyer, Buyer must also make it clear how they would like the names to read on the new deed, current address, phone number and social security numbers of all owners.
3. If any of the owners on the deed are deceased, it is necessary to include an original death certificate, or a certified copy (notarized), with the deed. Under these circumstances, the spouse may complete the transaction. If deceased party is other than the spouse, a power of attorney or notarized copy of the will must accompany the deed. If the person died in the State of Florida we must have a death certificate THAT DOES NOT SHOW THE CAUSE OF DEATH. This is a Florida law and we must require this form.
4. Maintenance fees must be current before deed work can progress. These can be paid by either party.
5. When the sale price is determined, the buyer will send a cashiers check to the Reef Ocean Resort made payable to the seller. A separate check must be sent payable to the Reef Ocean Resort for the closing costs to be determined by the cost of the sale of the unit plus recording and administration fees.
6. The State of Florida has new procedures regarding owners who are deceased and there is no other person on the deed, such as a spouse, we can no longer offer this service, surviving family members must contact an attorney to handle this type of transaction.
7. If you need assistance with your deeds we are happy to assist you. Please keep in mind: The preparing of deeds is a small part of my duties as your Resort Manager, Cindy Harvey. The hours available are 9:00AM to 3:00PM Mon-Fri. I am often busy with other projects, if I am not available leave a message on the phone and I will return your call.
8. Deed transfers can be a time consuming process, and several factors can hold up the progression. We will do everything in our power to make the transition as timely as possible. We appreciate your patience and welcome our new owners to the Reef Ocean Family.
RE-SALES!!!
Beware!! There are several companies operating in the U.S. that offer to sell your timeshare for you. Some are very good companies but most are scam companies. If a company wants you to pay a substantial amount up front for “fees” beware. Check with the Better Business Bureau or Attorney General before you give them money, most prove to take your money but not sell your timeshare. They will promise you anything but seldom deliver. I do not know of a single company I can honestly recommend to you. Beware!!! Some of our owners have fallen prey to these people.
MANAGERS CORNER
It is finally the end of a long HOT summer!! We experienced triple digit numbers for the first time in Vero Beach’s recorded history, in July we had a few days over 100 degrees!! We are now entering our maintenance weeks to spruce up the units for the coming year. We have also remodeled our office, we needed to be more handicap accessible, we opened up the front office to our owners and guests, so far the response from our owners have been very favorable so hope you like our new look when you come to Vero.
My fears concerning the rentals for 2009 have come to pass, it is no big news that 2009 is a year that the economy is really down and everyone has cut back on extra spending. For the first time since I have been at the Reef we did not rent all of our units in March (our busiest time) our summer was very slow with rentals, we had lots of owners and exchanges but few rentals, with that said, I want to remind all owners who have their units up for rent, this may not happen this year. We are VERY slow in our rentals this year. Like our owners, our renters are also cutting back and cannot afford to travel to Vero this year or they are only coming for a short visit and not the full week.