Marty Kandel was born and raised in New York City. He earned a Bachelor of Arts degree in Political Science from Rutgers University, and a Juris Doctor degree from the University of Baltimore School of Law. He is a member of the State Bar of Maryland and a former Maryland Assistant Attorney General and Counsel to that state’s Real Estate Commission, Home Imporvement Commission, and Commissioner of Consumer Credit. Marty is the primary author of both emergency timeshare legislation and the comprehensive Maryland Timeshare Act which followed.
Since 1984, Kandel has represented developers, lenders, and a variety of other timeshare related clients and has provided management, consulting, compliance, and product development services to public, private, domestic and international timeshare shared ownership and travel related companies.
Timeshare Advisory & Resolution Services LLC (“TARS”) is a Florida Limited Liability Company formed by Martin (“Marty”) Kandel, a veteran of over 35 years in the timeshare industry having served as a regulator, developer, and consumer advocate in the United States, Australia, and Europe. Marty’s credentials can be found below.
What is a "Legacy Resort"?
Generally, legacy timeshare resorts are older resorts (at least 25 years old) that were originally conceived as stand-alone single site resorts developed as a non-branded product. After the resort was originally sold-out to consumers, the developer usually went on to devise their next project by turning the resort management operation to the HOA and the Board of Directors.
How are legacy resorts different than newer timeshare resorts?
Legacy timeshare resorts typically offer a “fixed week” - “fixed unit” product, meaning that owners purchase a timeshare that gives them the right to occupy a specific unit (“fixed unit”) during a specific week of the year (“fixed week”). Today’s timeshare developers are more likely to be large corporations (Starwood, Marriott, Hilton, Disney), who offer resort properties in a multitude of states and internationally. Most offer a “points” product rather than fixed weeks and units, which may allow greater flexibility for owners. Legacy resorts are typically self-managed by the HOA or managed by smaller companies that may not have an expertise in the management of legacy timeshare properties. Many legacy resorts retain affiliations with one or more exchange companies.
Many legacy resorts suffer from a large percentage of aging owners base that no longer use their timeshare and want to exit ownership (but are generally not successful and are subjected pay-up-front scams); a lack of professional management specializing in legacy resorts; a lack of adequate reserves; the absence of a strategic plan; a resistance by the HOA board of to think "outside the box" or consider increasing maintenance fees; a lack of effective resale or rental programs; and constantly deferred resort maintenance.
improved communication with owners about the problems, the solutions and the cost /risk associated with the solutions; and an effective resale program that will bring new owners into the resort who will use and enjoy it and who will pay their assessments on time.
Can a legacy resort be saved?Although there is no one size fits all solution, the answer is yes! The challenges are many but any successful solution must rely upon effective HOA leadership. It starts with an independent examination of the effectiveness of the board; a deep dive into the resort governing documents in terms of percentages for votes to amend documents, potential to work around older documents utilizing applicable state law. would begin with three major areas:
Factors to consider
The resort location and property values are key. Legacy resort options are greatly enhanced when the value of the land supports a higher and better use than the current timeshare regime. If the resort can be sold or repurposed, for example, the proceeds of the sale can be distributed to the current timeshare owners.