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Diamond Resorts Internationalfraud and cheating

L

My wife and I have ownership interests in the Flamingo Beach Resort and the Flamingo Beach Villas in Sint Maarten. These properties were acquired last year by Diamond Resorts International.

When we purchased the time share weeks the initial Maintenance Fees were set in the contract but the contracts were mute with regard to inflation but we were assured that the rates would follow the local inflation rates in St Marten. We have just received our invoice for this year and find that our fees have increased 34% and 42% respectively. When I expressed concern over the increase to Diamond Resorts International I was told to 'get a lawyer'.

If we do not pay the fees we forfeit the properties and our initial investments. We feel that the increase is unconscionable and intended to force owners to abandon their investment so that the properties can be resold.

We understand that a class action suit is being mobilized by a local law firm in Sint Maarten on behalf of owners to address the Maintenance fee increases and the purported use of capital reserves to pay debts. We have also contacted the Attorney General for our state. It is hard to imagine that firms like Diamond Resorts International can operate in such a heavy handed way.

Responses

  • De
    dennis daly Apr 04, 2018

    We have been Diamond owners for many years and attended many "owner updates". I believe we were lied to every time. Usually more than one lie each visit. We were able to cancel once due to their lying we caught within the cancellation period. They were fined $800000 by the Arizona Attorney General's Office in December 2016. They have continued the same shoddy and illegal practices since then. I will be contacting the Attorney General's Office soon to file another complaint. Fraud of this type in Arizona is a class 2 felony.

    0 Votes
  • An
    Anthony Romano Jan 26, 2015

    I have been researching the timeshare issue ever since I became an owner at Greensprings in Virginia since 1998 and have been amazed at the vitriol and hatred toward our somewhat less than desirable and esteemed management. I for one believe we should vote as a block at the next Bd meeting in November in James City Virginia (Colonial Williamsburg) and vote them out and at that point we can make some real changes to the direction and management of this resort, as well as organizing the same for the other resorts, which they can use our strategy as a basis to effect change. I have thoroughly read the By-Laws and it appears the "timeshare owners" have a great deal of more authority than what management wants you to know. With a few changes we can force the sale of the Greensprings development by changing the By-Laws with 95% of the voting membership (which is made up of current owners - not "point owners" and once we control the Board we can propose a different tact to make this easier). It appears only timeshare owners who kept their deed and not traded in for points can take control of the Greensprings Resort. Once we have control of the Board (which can happen by simple majority vote) we can systematically make the necessary changes and sell this financial train wreck to the highest bidder as a condo or apartment complex and split the proceeds with all the owners. Now I know why they wanted to rid the development of owners and put in the Point system (makes it harder to change the Board). Nonetheless, we should do this while the Greensprings Vacation Resorts is still a viable entity and can attract a well-heeled investor(s). I am completely paid up, have no loan with DRI and currently a licensed attorney from Texas and have reciprocity to be able to practice in VA. I have sued countless institutions/lenders and Banks and currently work for the Federal Gov't, but feel the need to right this horrible situation everyone is complaining about, but we need to band together either in person or by proxy at the Resort and vote these particular members off the Board. That is what will scare them and is the only way to get their attention. I am willing to do this and IF I were to get any payment for the sale from the fact that I am an owner, it would be when we SOLD the dam thing along with the other owners. I don't really care if I get any money out of this strategy, only that we all get out of this financial mess, that apparently will last not just a lifetime (like our brochures said), but for eternity - which they never CLEARLY told us (probably not a good selling point when they pitched the idea to us). Also, I wonder if any salesman ever said that in 20 years your timeshare that you paid off will be nearly worthless, in the timeshare resale market, since no one will want to take over your obligation to pay the maintenance fees (the response would be that "we can't predict the future"), fair enough but what is good for the goose and is good for the gander. Let's use the bylaws to our advantage and see what tune they sing then. Many know this Timeshare would be a good deal if the maintenance fees were many times cheaper, in fact, it would make it more marketable, like when the fees were $387 when I bought mine, it would be an easy sell. We all know that is not the case. What they have is a fish on the preverbal hook (we being the fish), and they can raise our fees us each year with impunity. In any event, I am fortunate because I can get out of my timeshare obligations any-time I want, and could legally transfer/sell my timeshare to ANY purchaser who will use it as a residence. This is so easy to accomplish and it's such a fantastic loophole that it makes me ecstatic that I did not fall for their sales technique to give up my deed back in 2008 when Sunterra got sold or was bankrupt. What they should have done then was sell darn Resort, pay everyone their money back and called it even, but no that as an opportunity to sell out except to DRI. To that end, please contact me to get organized so we can vote these current members off the Board. I will more than happy run the for the Board, but I can't do it alone and have to have some of you who are owners from Greensprings (deed owners) to join me so we can not only drastically change the direction of this Timeshare situation, but may well-prove as a model for other Timeshare Resorts to possibly rid ourselves of timeshares altogether, before it's too late. As I said my contract was signed in 1998 and I have an out, therefore for those owners in Greensprings you may have one as well. Send me an email to get started at [email protected] and hopefully I will get some volunteers to run for the Board, along with me, to help me dislodge this incredible journey we all have experienced and hopefully end it profitably. Hang in there. Anthony Romano

    0 Votes
  • Sa
    SariPa Jan 11, 2014
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    DRI, Royal Holiday Club etc.. why it has to be about scamming people? Why this business is based on misleading and lying to people?

    Please guys, be welcome to read also my story about RHC (Royal Holiday Club).

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  • Ks
    kschmidt5 Feb 24, 2012

    Did anyone ever find out how to join a law suit or get action against the rise of maintenance fees and that "Special Assessment" fee for another property? Our maintenance fees have more than doubled, and it's not right that DRI should get away with this? We stupidly or was convinced through sales pitch to trade our deeded one week into a points system the DR club? The maintenance fees went up by $500 a year, but now doubled to $3900+ and we've only been part of this points system for a little over one year. We can't afford this and now in collections and not sure what to do? After 10 years of owning one week and being fine with that, do we have any recourse or do we really walk away after all that? We were sold into something it's not, and especially the fact, they knew that Special Assessment fee was coming up the pipe and we had no clue. They should not be allowed to sell into DRI points or club knowing something wrong like this. We'd like to join a complaint or law-suit or something stating that DRI should not be able to do this to people?

    0 Votes
  • Ro
    rodney32 Jan 16, 2012
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    10 to 1 this guy is associated with and bought DRI from Dennis Hof, another Las Vegas area timeshare con artist who parlayed his fortune into the prostitution business. They're practically brothers on the surface, although I doubt Hof has anything close to the degree of paranoia shown by Cloobeck on the show-for those who missed it he has a bodyguard who drives him everywhere and he ditched the traditional budget hotel after his bodyguard inspected it and found it lacking. Needless to say, he certainly didn't stick to the diet of canned foods and inedible crap other CEO's on the show have traditionally had to endure. Instead, he checked into a luxury hotel-and not just a hotel, a suite. Naturally, Undercover Boss did NOT show him taking on the job of time share salesman, for which he knew he would be torn apart. Quite a sham of an episode, really.

    0 Votes
  • Va
    Vacation Owner Jan 16, 2012
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    Well said Rodney

    He truly is an ego-maniac I do not know if he is personable as I have never met the man, however his actions are that of a man full of himself and total lack of conscience when it comes to screwing over anyone else. He is all about how Rich he is and has no clue what the rest of the 99% must do just to make it, and frankly he does not care about the 99% as long as they keep paying him is extortion fees to run his resort acquisition machine.

    My two cents


    CVO

    BTW did not watch the S.O.B. on the See B.S. U C Boss...

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  • Ro
    rodney32 Jan 16, 2012
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    Quite interesting. Never have I seen an athletic head of a corporation display such paranoid behavior, especially on national television (CBS Undercover Boss). I doubt that the airing of the episode will win them a substantial number of new customers, when likely paired with the investigative reporting on websites such as this, that will also find new life in a number of highly publicized new stories throughout the internet and all types of media, from print to broadcast and everything else. It seems as if Mr. Cloobeck is extremely worried someone will come after him-which is hardly a surprise, given the number of complaints here and elsewhere. But to show such paranoia on national television? Wow...just wow...also, something I can say after taking a look at the detailed complaints at [redacted].com then there's the added mystery that somehow this guy knew when to buy a Lambourghini from a Southern California dealership the very same month 54 such cars were bought and never paid for. News reports indicate Mr. Cloobeck owes well over $300, 000 for his. Mr. Cloobeck strikes me as a quite personable guy who may want to do the right thing, especially when it makes him look good publicly, but possibly in way too far over his head in a business model that relies on a never ending parade of suckers. Timeshares are notoriously poor investments, and a building far more prestigious in Las Vegas than DRI's Polo Towers, Planet Hollywood's Westgate Towers, also has numerous complaints for fraud and other timeshare related issues. Mr. Cloobeck is driven by ego and a desire to be admired (same as Arnold Schwarzenegger) that is almost a DSM-IV level condition. A very decent person when he wants to be, but also one who can't help but use charm and intellect to get his way, no matter how trivial or important the matter may be. I think he just is in way over his head, which is a shame, because he's clearly talented and personable, and the paranoia is off the charts. Still, the guy is very likeable, just don't buy a timeshare from him (or anyone else) or trust him in any manner. That's my observation, anyway.

    0 Votes
  • Bh
    bhenning86 Dec 03, 2011
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    I bought in to Sunterra in 1999, My so called maintenance fees were around $500 Dollars now they have reached $1655. When is this going to stop, This is crazy!!! I did not sign up for this. I think we need to open this up to the media and let them take care of them! This is a big scam !!! All I can say is stay away from timeshares. I cannot believe something like this goes on in the USA, What a disgrace!!! I think we need a lawsuit against Diamond Resorts International! Who's in ?

    [email protected]

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  • Ba
    Bakersdozen Sep 26, 2011
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    Has anyone seen Mr Duffy lately? He seems to have stopped talking to us. Has he gone into hiding with his chum Steve Cloobeck.

    Where are you boys? Are you huddled together admiring Pat's collection of coloured squares? Oh Pat, it looks like you got great value for all that heartache and suffering you caused. Are you consoling yourself by thinking that art and beauty are all that matters?

    Try being kind to others. Be generour and thoughful. Put the needs of others before your own. That's the way to true happiness.

    If my money had gone to people that really needed it to get by, I would not be worried. In fact when we sold some old jewelry the other day, we gave the proceeds to the Somali famine appeal. But I do feel seriously annoyed that so much of my money has been taken by Duffy and Cloobeck using unethical means and all that Duffers can do with his share is buy coloured squares.

    Come out, come out, wherever you are. We want our money back.

    0 Votes
  • Li
    Lisa Blood Jun 15, 2011

    How do I join this class actionsuit against Diamond. Our wonderful property in Sedona was taken over by the evil empire. I hate DIAMOND

    0 Votes
  • Va
    Vacation Owner Apr 08, 2011
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    I noticed yesterday when I read the article there were two comments posted, last time I checked (just now) there were an additional 10 comments.

    HEY DUFFY O' PATRICK I know your reading these blogs (your future hangs in balance), maybe you would like to comment on what is happening to this house of cards you and the rest of the corrupt and greedy execs have run in to the ground or have you all not yet come up with the PR spin on this issue.

    Bark, Bark... No bite


    CVO

    0 Votes
  • So
    soon-to-be-ex-DRI-owner Apr 08, 2011

    http://blogs.mirror.co.uk/investigations/2011/04/diamond-resorts-sends-in-debt.html

    0 Votes
  • So
    soon-to-be-ex-DRI-owner Apr 08, 2011

    Disgruntled DRI owners from the UK have not only created a website counting over 1, 000 members ( http://drip.webs.com/) but they have also contacted several british newspapers and TV channels. It's becoming interesting.

    http://blogs.mirror.co.uk/cgi-bin/mt425/mt-search.cgi?IncludeBlogs=49&search=daniel+silverman

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  • Va
    Vacation Owner Apr 04, 2011
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    Bakers,

    How can you tell if DRI lieing?
    Their lips are moving...

    DRI does not know the truth anymore, they have been telling lies soooooo long... even they believe them. That is probably the first class a new hire takes at DRI "How to Lie and make it believable 101" Then they get the more advanced classes for the executives "Using big words and to obfuscate the truth".

    As for the exchange rate fluctuation these are not the burden of the members but the burden of doing international business. I should not be responsible for DRI's poor business model. They are nothing but a service company there not selling goods they are stealing property and handing out points in lue of REAL compensation and maybe you will be able to use those points to go to Alaska in the winter or Mojave in August... Providing there is any availability left...

    I can not say DRI planned to SCAM/FLEECE everyone from the beggining (certainly not ruling it out either), but maybe this ginormous international beast is just too much for SJC to handle. He really is not the brightest bulb on the tree, lucky yes, corrupt probablly, Living large on the backs of the membership/affiliated resort owners absolutly. Anyone who can personally donate $189, 000 in political contributions is probably making too much money...

    Birds of a feather I guess... I think Liers, Thieves and [censored]s is an appropriate description for both politicians and DRI execs.

    CVO

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  • Ba
    Bakersdozen Apr 02, 2011
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    The maintenance fees charged by DRI are now so high that they exceed market rental by a long way. Irrespective of misleading "subsidy" at the outset.

    In any case we were told categorically by the sales staff that maintenance fees would only go up in line with inflation. (actual increase in 12 years is 400%) We were also told that the bulk of properties owned at the time were in the UK and we would be protected against currency fluctuations.

    Strangely they tried to blame currency changes for the 37% hike they imposed a couple of years ago. When currency values went the other way, they did not bring the fees down. YOu cannot trust this slippery bunch...

    0 Votes
  • Ma
    MauiJim36 Apr 02, 2011

    Check your governing documents that were given to you when you purchased your timeshare. Especially the section regarding "subsidy" as it may read that this is to pay for the fees & expenses of unsold inventory of the developer. I will try to post the exact language in our documents. They want you to believe they are just giving this subsidy to be nice guys, [censor], they owe for the units they hold in inventory and rent out for profit.

    "Developers subsidized the resorts permitting a MF (whatever that may have been when you purchased) to be presented by sales and thus appealing to many potential or actual purchasers." quote from Patrick Duffy
    Is this not deceptive...subsidize the fee so it looks artificially lower to attract or appeal to many potential or actual purchasers! Fraudulent business practice and he said it well!

    0 Votes
  • Se
    Seeyoujimmy Mar 22, 2011
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    Hi US cousins, we now have almost 1200 members in our Diamond Resorts International Protest group in the UK and it is growing fast. Is there perchance a similar group or groups in the USA that would like to get in touch and combine against a common problem ? After all if we can take on Gaddafi together-----!!! Hope to hear from you soon.

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  • Ba
    Bakersdozen Mar 16, 2011
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    And he didn't come to talk to us?? And we are amongst his greatest fans...

    0 Votes
  • So
    soon-to-be-ex-DRI-owner Mar 11, 2011

    Mr Duffy will not respond to your post. He doesn't care about Customer Satisfaction. Ask him why the scorecards we used to fill at the end of our vacation have disappeared. Not that they were ever published nor acted upon but at least they existed.

    1 Votes
  • Ba
    Bakersdozen Mar 11, 2011
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    DRI Protestors Group now has 1018 members. I think that is more than the number of "likes" for DRI on their official Facebook page.

    Patrick Duffy: Do you still think that I am unusual in being dissatified?

    1 Votes
  • So
    soon-to-be-ex-DRI-owner Mar 06, 2011

    It's not only Expedia. Search eBay for rentals in DRI Caribbean resorts like Royal Palm or Flamingo Beach.

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  • So
    soon-to-be-ex-DRI-owner Mar 05, 2011

    I have yet to read a single word from Patrick Duffy or from anyone at DRI, justifying the fact that anybody can rent a unit in a DRI owned Resort for substantially less than what interval owners are charged in MFs.
    Not only interval owners have paid substantial money upfront, not only they have no real way out of their contract but they're gouged year after year compared to Jane Doe who can rent for much less without further commitment.

    1 Votes
  • Ba
    Bakersdozen Mar 05, 2011
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    DRI seem to have withdrawn themselves from debate. Their Facebook pages have basically been emptied. Memebers of the DRI Protestors group now number nearly 900... whilst the now dormant DRI fan site on Facebook has just 250 "likes".

    So Mr Duffy the number of protestors outnumber your so called "fans". A certain president of Egypt gave up when that happened (OK the army had something to do with it)

    Anyone got the number for the US Marines? Perhaps they could have a word with Cloobeck on our behalf...

    1 Votes
  • Va
    Vacation Owner Feb 24, 2011
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    Decieved,

    It seems we are funding all of the short falls for DRI, my understanding of MFs is they are to be used to MAINTAIN our home resort. Why should my excessive fees go to Maintain some run down DRI resort acquisition with little or no reserve. That is not my problem that is Diamonds Resorts problem and Diamonds Resorts Responsibility and unfortunately the Home Owners of the run down/low reserve resort. I understand DRI magic socialized points system tends to make it every members problem too. I however am not a magic points member and not part of Diamond Resorts Socialistic Magic points program yet Diamond Resorts still gets to put their grubby paws on my money.

    WTF is wrong with this picture, we are all paying for the acquisition of new fodder for DRI to pilliage and fleece, looks like a win win for DRI and a loose loose for DRI members and affiliated Interval owners. If I were corrupt and had no moral compass I guess I would probably screw over anybody and everybody too. If that is the direction of SJC for DRI, Good job... Karma shall eventually set us free, hopefully sooner rather than later.

    CVO

    1 Votes
  • Ba
    Bakersdozen Jan 30, 2011
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    Ah Patrick: I see that you are buying up Tempus Resorts INternational. Is that what you are doing with our money!

    Another 40, 000 victims for you to feast upon. I guess that you will be changing their terms as well.

    If you are a "member" of Tempus, you will find this site very useful: http://drip.webs.com/

    We will help you to cope with your Diamond Resorts problems. We look forward to talking with you.

    1 Votes
  • Se
    Seeyoujimmy Jan 17, 2011
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    Is it true that Thomas Cook and Expedia are now taking bookings for DRI Resorts ? Does this mean even less choice and availability for DRI members ? Do Thomas Cook and Expedia know what they are getting into ? If they do I will not be booking with them again.

    0 Votes
  • Ba
    Bakersdozen Jan 01, 2011
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    I am quite sure that the DRI executive try to use cut outs wherever possible. I would not want my name linked to what they have been up to either.

    Give it up Cloobeck and Co. Money will not bring you happiness. You may feel that you have been very clever in taking allthat cash from us. But what an empty and miserable waste of an existence. You could have done good in the world instead.

    There is still time for you to repent.

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  • Se
    Seeyoujimmy Jan 01, 2011
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    Happy New Year - Stephen Cloobeck, Patrick Duffy, Alan Bentley, Suzana Gomercic and Philip Broomhead from a resigned member of Diamond Resorts European Collection. I include Suzana and Philip so that we do not forget Sunterra and First National Trustee Company Ltd. Oh and happy new year Expedia - still taking those bookings for Diamond Resort Locations ?
    RESOLUTIONS
    Will I continue to pay MFs for Resorts I cannot use - NO WAY.
    Do I think I was mislead during the sales pitch - DEFINITELY.
    Do I think the DRI Board are absolved because they personally did not make the sales pitch - NO WAY.
    Do I believe in Santa Claus (SC) - DEFINITELY NOT.

    Well folks I hope you have a happy and prosperous new year, unlike some DR European Collection members who believe they have to pay their MFs until 2054 whether they can afford them or not and whether they can use them or not. To the Board of DRI - may your sleep be untroubled and your days be happy.

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  • Ba
    Bakersdozen Dec 30, 2010
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    No Dicko, if Patrick told us all he knows, he might get played by someone like Russel Crowe. Remember that film "The Insider"?

    Or remember that great performance by Liam Neelson of Schindler in "Schindler's List". That character changed from being a ruthless exploiter of the weak and vulnerable to become a real hero.

    Of course, if he doesn't have a "Road to Damascus" moment, then he will only be able to get an English actor to play him. Perhaps Alan Rickman. Did you see him in Die Hard? The epitome of evil personified. Or in Robin Hood where as the sheriff of Nottingham he called for Christmas to be cancelled. Of course DRI actions in jacking up maintenance fees have meant that a lot of people have had to cancel Christmas...

    Who would you prefer to take the role Patrick?

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  • Di
    Dicko 7 Dec 30, 2010

    Hi all
    It would be difficult to get respectable actors to play the Diamond resorts bad guys in your mini series Bakersdozen. Lets face it, they are lower than the low as they threaten money from pensioners and the frail.
    They tell complete lies in order to sell something then they use the signed contract to smother the buyers with harassment for 50 years.
    What about using crash dummies for the parts of Mr Duffy and Mr Cloobeck! It would save actors from never working again because of the shame!

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  • Ba
    Bakersdozen Dec 30, 2010
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    Hi Patrick: It's time for New Year resolutions.

    Why don't you leave DRI and get yourself a respectable job. One that does not involve creating misery for thousands of people.

    I am sure that you will not become as rich... but your chances of getting to heaven will be infinitely better.

    Let's make this a year for new beginnings eh Patrick. You could go further and tell us what really goes on at DRI. Like what you actually do with our money. I am sure that our readers would like to know. And you would have the personal satisfaction of having joined the good guys.

    I am just now pulling together all that we know (just the verifiable facts, not supposition, in case you start to get worried that I am making "unfounded" statements Patrick) in order to make an interesting story. Of course this is a very complex tale, so I see a serialisation to really get the story across. If anyone reading this has any additional information, especially insider information, that would be very welcome. If, for example, you used to work for DRI and can tell us what really happens, please let me know.

    Who do you think should play you in the TV mini series?

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  • Di
    Dicko 7 Dec 25, 2010

    Seasonal greetings to all.
    It's Christmas day but I still have time to complain about this company!
    I do not intend to pay any more money into this points / ponzi system with this useless company. In fact I want all the money I paid for their magic points back! This includes the initial up-front cost for the magic points and the years of maintenance fees conned out of me.
    The product - as Mr Duffy calls it - was missold because it was misrepresented by the salesman who told a load of lies in order to get a sale.
    I will NOT support their armani lifestyes with my hard earned cash.

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  • Ba
    Bakersdozen Dec 23, 2010
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    Yes congratulations Patrick. Well done. It has taken serious effort and dedication to customer dissatisfaction and discomfort coupled with a relentless drive to deliver less and less value for money.

    It's been a long hard road, but you have done it. Officially the worst company listed on Complaints Board.

    Champagne all round at DRI HQ. After all they can afford it with all the money that they have had from us.

    Keep living that American dream Patrick.

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  • Va
    Vacation Owner Dec 23, 2010
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    Hey everybody,
    Mr. Puffy is right! The high fees are all of our own fault because we did not exercise our right to vote and so the HOA (loaded with DRI supporters) voted to $crew everybody as best they can (Legally of course). So when you get that ballet in mail be sure and vote for that person you probably do not know and is more than likely a tool of DRI anyway. Then what Mr. Puffy DRI will still continue $crewing it's members annually.

    Oh and congratulations are due Diamond Resorts International, they have now made it to the top of the complaints board list. I guess we have a voice here anyway. Great Job DRI that shows a happy and healthy client base... Hey Datrick check your parchute this baby is going down...

    I still have a deed at my resort and it is not locked in to an irrevocable trust by DRI magic points. (I did not cave at the 90 minute /4 hour presentation) So when DRI crashes and Burns I will still have my Deed. I am wondering what will happen to all those folks that signed their deeds over, can the Irrevocable Trust be unraveled? I don't think so, since it is an irrevocable.

    Irrevocable Trust definition
    http://www.wisegeek.com/what-is-an-irrevocable-trust.htm


    CVO

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  • Ba
    Bakersdozen Dec 21, 2010
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    What's up Patrick? It's not like you to have nothing to say.

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  • Di
    Dicko 7 Dec 21, 2010

    Hi
    I WANT MY MONEY BACK NOW!

    0 Votes
  • Se
    Seeyoujimmy Dec 16, 2010
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    Is Expedia aware of what Diamond Resorts are doing? Are they happy with it? Does it make good Customer Relations Management sense ?

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  • Se
    Seeyoujimmy Dec 16, 2010
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    Great stuff maybe people are beginning to see Diamond Resorts for what they really are !! Diamonds are not forever.

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  • If
    ifeeldeceived Dec 16, 2010
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    bakersdozen: I purchased my unit 21 years ago from a company in AZ and yes, the developer subsidized our fees for many years - clearly noted on our annual balance sheet. It was a decreasing subsidy and we had to make up the difference every year. However that difference did not amount to anywhere near what DRI has assessed this year. I understand DRI's explanation that many resorts that they have acquired did not have sufficient reserves and they are now collecting to increase that fund to make improvements. That is all well and good, except that there must be a contingency plan for those who can no longer afford to be an owner. My complaint is that the company will not help you find a way out of the situation that THEY put you in with their business plan. (As a side note, we received notices during the bankruptcy proceedings of our resort that our ownership would not be affected. HA!)

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  • Ba
    Bakersdozen Dec 16, 2010
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    Verified customer

    Hi decieved: I doubt that your developer really subsidised the fees. With Diamond we find that the management fees equate to up to 3 times the market rental rate. Unless the market is operating substantially below cost, Diamond is actually coining it. I have asked repeatedly what they are doing with our money, but never get a satisfactory answer. Who knows what is being included in these fees. All I can report is that Diamond Executives are very touchy on the subject. Are Executive salaries included, investment in new properties etc etc? We just don't know, and they are not telling. But they are collecting a hell of a lot of cash from us.

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