Due increase?

[lenshanem]

Is there anything in our contract that keeps DVC from rising dues over a certain amount, taking into account inflation, too?
Thanks!

 

[RobDoc]

Dues cannot increase more than 15% in a year without approval by the owners.

Dues have never increased anywhere near that rate and have averaged 3-4% per year. There is nothing tying them to inflation, but they do have to reflect the actual costs of running the resort.

OKW had the largest increase this past year (around 8%, I think) because a large increase in insurance costs.

Some years, the dues have even decreased. The Property Tax component is always estimated each year and then an adjustment is made the following year based on the actual taxes paid. DVC has always over-estimated the tax and the overage deducted from the following year's fee.

 

[Granny]

Shan...this was the one thing that worried me the most about DVC before I bought.

As Doc indicated, DVD cannot make a profit on these dues. So that is of some solace. And it seems that they are working hard to keep our dues in line and not rising too much.

Time share laws...and especially those in Florda....are pretty strict about things like this. I think we'll be okay.

 

[Pa@okw95]

The dues at OKW over the last 8 years have not gone up enough to be noticed. I wish my local and state taxes were as steady as the dues at OKW have been. Of course I live in a state where the liberals have taxed us to death so it may not be a fair comparison.

 

[ncligs]

Rounding to the nearest penny, here are the dues for 2000/2001/2002/2003 byeach resort.

OKW - $3.16/$3.13/$3.22/$3.39
BWV - $4.02/$3.83/$3.92/$4.10
HHI - $3.26/$3.32/$3.49/3.69
VB - $4.08/$3.98/$4.17/$4.37
WVL - NA/$3.63/$3.80/$4.05
BCV -- opened at $3.77/$3.97