Proven Results speak for themselves .
OWNERSHIP & TRAVEL Page 9 Sep / Oct , 2024 | TimeSharing Today
unit bayfront timeshare in Ocean City , Maryland , developed in 1978 . It is one of Lemonjuice ’ s partial reimaginations . Ocean City is a highly seasonal market with about 10 weeks of peak usage , and over the years , ownership of the off-season weeks deteriorated . An engineering study in 2022 determined the building was structurally sound , though it indicated that approximately $ 3 million in doors , windows , and pool renovations were urgently needed .
Lemonjuice assisted the Association in securing a construction line of credit and worked with the Board of Directors to amend the governing documents and terminate the timeshare plan for 24 of the units . Sales of the 24 condominium-hotel units , called the “ Bay Club Residences ,” began in March 2024 . Currently , 11 have sold . Sales proceeds are projected to satisfy the construction loan , fund the reserves , and modernize the property and financially stabilize it . In the process , timeshare owners who wished to remain were consolidated into the remaining units with improved accommodations . Those wishing to end their timeshare commitment will receive between $ 4,000 and $ 18,000 for their intervals .
Egrets Pointe
Egrets Pointe Townhouses in Edisto
Island , South Carolina , was a phase of 24 timeshare units within a mixed-use community developed by one of the industry ’ s largest brands . The phase suffered functional obsolescence , active ownership had fallen below 60 %, and the Association had no reserves . Owners faced special assessments , and many had fallen victim to relief scams . Lemonjuice funded and managed a range of crucial improvements to enhance the property ’ s structural integrity and livability . Improvements included replacing aging decks , installing a state-of-the-art vapor barrier in the crawl spaces , doing extensive roof repairs , redesigning interior spaces , and adding a bedroom to each unit .
The 24 townhomes were sold as residences , making the phase an attractive component of the community , much to the benefit and delight of its neighbors . Owners received more than $ 4,500 for their weeks .
Borderlinks
Borderlinks is a 54-townhome community on a golf course in Ocean Pines , Maryland . 34 three-story duplex homes , built in the early 1970s , were sold as timeshares in the early 1980s . The structures were built on pilings , and over the years , the pilings deteriorated and floor systems began to fail .
The Board employed several engineers and contractors to try to remedy the problems but was unwilling to assess the owners to make the needed repairs . Some units had to be taken offline as they were unsafe to occupy . The resort was censured then de-listed by its exchange provider , and the pace of decline accelerated .
Maryland does not currently have the benefit of legislation to simplify timeshare restructuring or non-judicial foreclosure . The timeshare termination required all owners in every unit to sign a deed . To make things worse , each building had a separate ( and inconsistent ) timeshare declaration .
Many owners were delinquent and out of contact . Some deeds were even in the names of household pets . Lemonjuice acquired inventory and receivables from the associations to provide liquidity for repairs and operations and , over three years , accumulated the votes necessary to get all the homes sold as whole ownership .
Lemonjuice also financed and managed the arduous legal process that enabled the sale of the property . In the end , timeshare owners received as much as $ 6,800 for their previously unsellable and often unusable timeshares .
ARDA-ROC remains committed to fighting for owners on this issue as the team continues to identify opportunities for more termination / extension legislation in the future .
We have thousands of grateful owners , happy boards , and millions of dollars returned to owners with millions more on the way !
Proven Results speak for themselves .
$ 83,000,000 +
Combined Owner Distribution
$ 31,000,000 +
Invested in Legacy Resorts since 2016
If your declining resort needs to be repositioned , call Jan at 863.602.8804 to learn more about our
Resorts Reimagined™ program . There ’ s hope !
LemonjuiceSolutions . com | Jan . Barrow @ Lemonjuice . biz
www . timesharingtoday . com to start or renew memberships .