Most WorldMark owners would not be surprised to learn a portion of their annual dues contribute to the upkeep of their WorldMark units and resorts.

Every year, a portion of your maintenance dues directly funds a reserve account used to refurbish units and replace major exterior components, as necessary. There are no additional, or separate, dues. Reserve contributions are part of your regular annual assessment, and are placed into an account for the sole purpose of resort refurbishment. This ensures that sufficient resources will be ready when needed.

Some WorldMark owners may be part of a community association if they own a condominium or live in a larger planned development. These owners know that their community association is required—through state statute or their own governing documents—to maintain a reserve fund for all property owned in common.

You’ll be pleased to know that WorldMark, The Club is no different.

Its reserves are divided into two categories—interior and exterior. Interior reserves cover items within units, such as carpeting, paint, furniture, appliances, electronics, and plumbing fixtures. Exterior reserves pay for common-area items, such as roofs, siding, exterior paint, asphalt, play equipment, and pools.

When a WorldMark resort is part of a larger association, the exterior reserves are collected through an assessment for the number of units owned by WorldMark at that resort.

During the club’s annual budget process, interior and exterior reserve contributions are determined separately. Interior reserves rely on a model unit approach. A typical one-bedroom unit is analyzed to determine the anticipated useful life and current value of each item, and to calculate how much each will cost to replace. This method lets us know the required amount to be set aside monthly to ensure adequate reserve funding for all units, adjusted for their size.

Calculating our exterior reserves begins with a reserve study. A third-party company is used to develop, or update, the exterior reserve study in order to have an expert opinion on all the unique conditions at each resort. Their study provides the basis for WorldMark’s needed exterior reserve contribution, factoring in sizes of different properties, the materials used, climate, and other variables. 

Months in advance of each new year, our Product Enhancement team works with resort management to identify the components, both interior and exterior, that will be replaced or renovated at each resort. Together they develop a refurbishment project list for the coming year at most resorts. Work then begins on setting aside units, locating competent contractors, and executing the myriad projects that will keep our WorldMark resorts in like-new condition for your next stay. If you receive an e-mail with a link to a survey, take the time to respond. It will be well worth the 10 or 15 minutes of your time!