[RESOLVED] Relinquishment« Back to Questions List
Relinquishing a property because the increased management fee makes it more expensive than renting a comparable property in the same week.
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My original question was poorly worded as I am new to this noticeboard. However, since posting I have had my invoice through for WK 50 Whinlatter with a cost of £784. This hike in fees from previous years has left me aghast. Is there no stopping these price rises. How can this be justified and where will it end? The unfairness of the situation is that a similar Underscar property in August will be paying the same fees. The bottom line is that I can rent a similar property at Underscar through Heart of The Lakes for £825 in the same week. After paying for utilities etc. the cost of my week will be the same, or higher, than renting through HOTL. It is no longer economically sensible to keep my week. In fact, I would be better off to give the week away, if that is possible. Do any other owners have a similar issue? Have you managed to get rid of an unpopular week, or even give it away? Are there any rules in place that prevent fees going above a certain level? Finally, I suspect that the out-of-season weeks, which will not see full occupancy, are subsidising the high season weeks, which will have near full occupancy. It just seems quite wrong and unjust. |
The factors that appear to govern relinquishing a property are not just associated with renting comparable properties at a cheaper rate in the same week, but also the fact that the exchange facility currently provided no longer competes with other products on the market (such as holiday property bonds, which now provide far more equivalent highly rated properties as exchange options). Plus I suspect ongoing sales and rental marketing concerns. The original ”promises” upon purchase at Underscar were to provide the option, if required, equivalent status properties elsewhere both in the UK and abroad. But sadly since the change to Dial and Exchange there is no easy means of identifying equivalent status properties since they are not star rated. Neither does there appear (upon further research) to be a large enough choice of 5 star equivalent properties for exchange on their books. These factors, together with other concerns as expressed on the owners website, only adds to disillusionment that sadly appears to be leading to a growing desire to relinquish property at Underscar. The current Director Responsibilites pdf file, whilst being informative of responsibilities, also does not appear to contain contact email details for each Director. These are just a few wider-perspective thoughts to contemplate when considering the possible reasons behind relinquishment of properties, with a view to addressing concerns in as productive a fashion as possible, as opposed to suppressing or ignoring owners’ ongoing valid concerns. |