Frequently Asked Questions and Answers 1. Why is this happening now? The resort is in need of major renovations. A special assessment will be needed to bring the property up to Spinnaker standards. 2. Will I lose my ownership immediately? No. You will have time to review your options, and decide on the best course of action for your situation, without losing access to your vacation ownership benefits. 3. What if I want to keep vacation ownership? You can stay an owner and will be subject to special assessments. 4. What happens if I don’t do anything? Owners who retain their deeds until the property is renovated will be subject to special assessments or other charges. 5. What if I simply want to exit? If you are current on your HOA fees, you will have the option to deed your week back to the Cottages Association with no further obligation. 6. What should I do next? Call Spinnaker’s special owner services number at (843) 564-7783 or email us at cottageupdate@spinnakerresorts.com to determine what is the best choice for you. 7. What happens to my upcoming, previously booked reservation at The Cottages? We will try to accommodate this future reservation based on availability as long as all of your maintenance fees and special assessment fees are current. |