Many people ask me why I am so involved with the Hollywood Beach Resort, a condominium & timeshare property located in South Florida? The answer is really very simple, besides being the largest residential unit owner at this property for almost 20 years having more money invested than any five other residential unit owners combined and millions to lose if the Association is not managed properly, I also purchased the hotel operating company many years ago to improve the values and income for all of my fellow owners. Only to have my Ramada Inn Franchise destroyed by the condo commandos fighting for control the property. For almost 15 years, I allowed my hotel & management company to share resources with the Condo Association, which eliminated duplication of services and saved the Condo Association tens of thousands of dollars each year while my company would rent out the vacant timeshare units and pay the Association over $100,000 per year for almost 12 years plus do the pool laundry for FREE. In addition, my hotel company was the largest rent paying tenant to Oceanwalk Mall for almost 20 years providing Oceanwalk with the money needed to pay its maintenance & assessment fees to the Condo Association as the the commercial unit owner and the largest dues paying member of the Condo Association. In addition, my management company provided timeshare & condo management services which allowed me the ability to recycle the management fees back into the HBR Condo & Timeshare Association compared to what is happening today.
During my term as Condo President, money (management fees) never left our Association because I recycled it back into the Association by paying rent to Oceanwalk Mall. Consider the Association paid my company management fees, my company added additional money and paid the mall allowing the mall to pay the Association. It was a unbroken circle compared to today when the management fees leave the property and the Mall is now millions in arrears and in a position to cause the worst financial hardship for condo owners in the history of the Association.
The new Board President (Michel Jekic) andf VP (Laura Welliver), in my opinion, screwed every condo & timeshare owner in the Association and made a "closed door deal" that benefits nobody but Oceanwalk Mall and as more facts become known, maybe both Jekic, as a real estate broker, and Welliver as a want-to-be hotel operator. No matter how you look at it, the condo & timeshare owners have been screwed, plain and simple.
Today, after 20+ years most all of my friends and long time fellow owners have sold out and moved to other properties and as sad as it may be, I may be following them as the HBR Resort is becoming a money trap with million dollar assessments becoming an annual event. Unless Owners recall the Board and take legal action against the Mall Owners and the Board Members who sold them down the river with a $7.5 Million Dollar Lease & Financial Guarantee and a new 41% Assessment Rebate for the Mall Owners nothing will improve. Especially when Jekic & Welliver allowed the Mall Owners to divest their ownership to become almost "suit proof" allowing the Mall Owners to walk away from what is quickly becoming a $1,000,000 debt in unpaid maintenance & assessment fees.
Today, the NYC Mall Owners are laughing all the way to the bank after their "closed door deal" with Jekic & Welliver. However, don't believe me, just go view the Emergency Meeting Video of HBR Board President Jekic and compare what he tells owners to what actually exists today at the HBR Resort. No ethics, nothing but nothing…. For updates on the real truth visit www.hbrresortcondo.com