Business ProfileforStock Development, LLC

BBB file indicates that the business has received complaints concerning the company's increase in dues. Customers have stated that for any home purchase there is a mandatory club membership in a Stock owned Players Club and Spa. The dues have risen from $960.00 annually to almost $4000.00 annually since inception (almost 11 years) with no option to withdraw from the club. Additionally, customers allege that the business failed to provide an Advisory Board of Governors (made up of members) as represented in the company's promotional materials.

BBB contacted Stock Development, LLC requesting information as to why the business believes the customers are filing the complaints, and what actions the business has taken to help eliminate the causes of complaints.

The business indicated that in 2017, Presidents of 18 HOA's representing approximately 1800 members of the Players Club and Spa LLC fPCS) a Stock owned business. There was a coordinated effort to contact members and encourage the filing of BBB complaints.

There are recurring themes in the complaints
filed and there are 4 inescapable facts related to this matter:

--In Stocks marketing brochures in selling their properties they promised an Advisory Board of Governors made up of members of the community, in fact it was included in numerous contracts of buyers, which we believe are legally binding.

--The Dues since inception thru 2017 have increased an average of 13% annually, while the Consumer Price Index (CPI) over the past 10 years has averaged 1.76%.

--Stock claims they do a competitive assessment in setting dues each year but have refused to share this information and in fact the most relevant comparison is Fiddlers Creek whose dues are approximately 30% less than the $4000 annual dues at the PCS.

--In season, the PCS is overcrowded and the entire membership cannot be serviced, there is no membership cap as requested.