Are you adapting your resort to the times?
The Autumn issue of Sharetime magazine features top tips for committees developing an exit strategy from My Lawyer in Spain solicitor and abogado, Alex Radford.
Here’s a run down of the top ten:
- Can owners return their weeks? Is it viable to accept them or should you stage their return? How will this affect club finances? What income stream will replace this?
- Do you take legal action against delinquent owners? Why?
- If an owner does not pay the maintenance fees, do you suspend occupation rights? How long for?
- Is it fair to continue to issue membership fees to owners who will not pay? Why not repossess?
- What is the procedure for returning weeks? Can you simplify this?
- If you have too many empty units, release and sell them.
- Is your report sustainable as a business? Do you have the ability to develop resorts where tomorrow’s travellers wish to stay? Where would your children like to stay?
- What is the duration of your club? Will your membership last this long? If not, is it time to change the duration?
- What happens upon the death of a member? Make the process easy for the heirs.
- Have you considered developing a short-term product that’s more attractive to new owners? If they like your resort, they might upgrade to full ownership and stay for longer.
You can read the full issue, include Alex’s article here
http://issuu.com/sharetime-magazine/docs/sharetime-22-web/23?e=1911513/15188140
