Biennial ownership

[joeyb1180]

Hi everybody-
I’m thinking of purchasing another property to add more points. I was thinking of a biennial but wanted to know if the rollover of biennial points are treated in a different way than an annual ownership. Thanks in advance.


Sent from my iPhone using Tapatalk

 

[escanoe]

One of the two HGVC properties I own is a biennial. It is an odd year with a great point/mf ratio and at a place I love to go. Like an annual ownership, you can pay to save your points for one year. You can also borrow points in the year before use. It really is pretty flexible.

I would not hesitate to buy another biennial. I would prefer it to be an even to balance out my odd ownership, but if it was good enough of a deal I would pull the trigger anyway (hopefully no one buys out HGVC and messes up our points system). People will point out you have to pay the membership fee every year, but I am already doing that anyway owning an annual.

 

[Todd Fogelberg]

Will they charge you a "club activation" fee ($639) to add the new contract to your account? Or is that free since you are already a member?

 

[escanoe]

Yep, they WILL charge that. But they are going to charge you that for an annual too. The only fee you save when buying your second property is the $176 annual membership fee IF you list the name(s) exactly the same on both deeds. A down side of a biennial (and one reason the resale price should be less than 1/2 of an annual) is all the fees associated with a purchase (closing fee, activation fee, etc.) are just as high for a biennial as an annual.

 

[joeyb1180]

Yep, they WILL charge that. But they are going to charge you that for an annual too. The only fee you save when buying your second property is the $176 annual membership fee IF you list the name(s) exactly the same on both deeds. A down side of a biennial (and one reason the resale price should be less than 1/2 of an annual) is all the fees associated with a purchase (closing fee, activation fee, etc.) are just as high for a biennial as an annual.

Thanks for your input. Can I borrow the points from a biennial ownership in an off year? Meaning if I buy odd for 2021 use, can I borrow from them for 2020 like I can on my annual ownership?


Sent from my iPhone using Tapatalk

 

[dayooper]

Thanks for your input. Can I borrow the points from a biennial ownership in an off year? Meaning if I buy odd for 2021 use, can I borrow from them for 2020 like I can on my annual ownership?


Sent from my iPhone using Tapatalk

Yes. It’s how they justify charging the Club Dues on off years. You can, for a fee, save your points till the next year.

 

[joeyb1180]

Yes. It’s how they justify charging the Club Dues on off years. You can, for a fee, save your points till the next year.

Thank you, right, I know I can save but can I borrow next years points for current year? Thanks!


Sent from my iPhone using Tapatalk

 

[escanoe]

Thank you, right, I know I can save but can I borrow next years points for current year? Thanks!


Sent from my iPhone using Tapatalk

Yes. You can borrow. For instance, if you have EOY 2021 points, you can borrow them early for reservations in 2020.

 

[Passepartout]

Yes. You can borrow. For instance, if you have EOY 2021 points, you can borrow them early for reservations in 2020.

I believe you'd have to pre-pay the next years' (in this case 2020) MF in order to borrow from those points. IOW, you can't borrow what you don't own.

 

[escanoe]

I believe you'd have to pre-pay the next years' (in this case 2020) MF in order to borrow from those points. IOW, you can't borrow what you don't own.

My experience has been you can always borrow from the next year’s pool of points without prepaying your MFs. I have Vegas (annual) and South Carolina (EOY odd) HGVC deeds. I have borrowed some points from each a year ahead, and no one has ever asked me to prepay MFs. My understanding from reading the rules is that there is no requirement for prepaying.

 

[GT75]

I believe you'd have to pre-pay the next years' (in this case 2020) MF in order to borrow from those points. IOW, you can't borrow what you don't own.

In HGVC system you don't need to pre-pay MFs in order to borrow following years points like you need to do I believe in many other TS systems.

I know I can save but can I borrow next years points for current year?

As already stated you can borrow from the following year only. For example, let say you own an odd year, so in 2020 you could borrow from your 2021 points. But in 2021, you wouldn't be able to borrow from your 2023 points. You can also save any remaining 2021 points into 2022 for a fee but then those points must be used in that calendar year.

 

[Passepartout]

I stand corrected. I am not an HGVC owner, and in my system(s), I have to actually own, or be entitled to points I borrow. How does it work to reserve time you don't own, then sell the ownership?we

Jim

 

[dayooper]

I stand corrected. I am not an HGVC owner, and in my system(s), I have to actually own, or be entitled to points I borrow. How does it work to reserve time you don't own, then sell the ownership?we

Jim

That happens. It’s why you ask for an estoppel.

 

[Passepartout]

That happens. It’s why you ask for an estoppel.

Be a lot easier if folks could just borrow points they own. But notice that MY name isn't on any of these systems. (shrug)

 

[dayooper]

Be a lot easier if folks could just borrow points they own. But notice that MY name isn't on any of these systems. (shrug)

In all reality, it really doesn’t happen all that much. The benefits far outweigh the problems. Being that flexible in what you can book really has it’s advantages. Example: next month, I will be booking our families next vacation. We will need a 3 bedroom. My points only allow for a 2 bedroom. I will be borrowing from next year when we won’t be needing all of our points.

In fact, what my wife and I ideally want is a great EoY so we can borrow half the points from the next year and then use the remaining on the year they are issued. If something great comes up that’s an every year, so be it.