Maintenance Fee Details

[DisDad-]

Hello everyone
I have a question regarding the maintenance fees on DVC properties.
We’re close to finalizing a deal at the Grand Floridian Villas and know that 2021 dues were listed at about $6.80 per point.
Does that figure include taxes and insurance or does it only cover maintenance costs?
I would have thought that it would since they don’t advertise any other costs associated with the condo association but I’m being told that the taxes and insurance costs are charged in addition to the maintenance fee.
Any info would be helpful. Thanks

 

[erionm]

The quoted rate per point for annual dues includes ad valorem (property) taxes and insurance.

 

[macman123]

Hello everyone
I have a question regarding the maintenance fees on DVC properties.
We’re close to finalizing a deal at the Grand Floridian Villas and know that 2021 dues were listed at about $6.80 per point.
Does that figure include taxes and insurance or does it only cover maintenance costs?
I would have thought that it would since they don’t advertise any other costs associated with the condo association but I’m being told that the taxes and insurance costs are charged in addition to the maintenance fee.
Any info would be helpful. Thanks

Everything - nothing else on top.

 

[Sandisw]

Everything - nothing else on top.

Unless there is some level of catastrophe and sometimes a special assessment can be applied.

But, that would be a rarity.

 

[macman123]

Unless there is some level of catastrophe and sometimes a special assessment can be applied.

But, that would be a rarity.

But then you can just blame it on the Belgians.

 

[skippytx]

Here's the breakdown from the most recent document

The estimated Annual Dues for the year January 1, 2021 through December 31, 2021 are $6.8118 per
Vacation Point, which is comprised of the estimated Annual Operating Budget ($4.1719 per Vacation Point),
the estimated Annual Capital Reserves Budget ($0.8513 per Vacation Point) and the estimated ad valorem
taxes ($1.7886 per Vacation Point). The total amount of Annual Dues paid by a Purchaser or Owner is
determined by multiplying the total number of Vacation Points represented by the Ownership Interest
purchased by $6.8118.

 

[The Jackal]

It is an estimated cost to run the resort for the entire year. Taxes could be higher or lower. Everything else DVC has a good idea what everything costs. If costs are lower you get a credit for next year.

 

[Sandisw]

It is an estimated cost to run the resort for the entire year. Taxes could be higher or lower. Everything else DVC has a good idea what everything costs. If costs are lower you get a credit for next year.

Any lower expenses that result in a credit, other than taxes, are added to the capital reserves budget.

What happened for the 2020 credit due to closing was not what typically happens. I think due to the nature they felt it more appropriate to give back to owners.