Maximum Cap on Maintenance Fees?

[camack7827]

I read somewhere on here that there was a maximum cap on maintenance fees increases. I believe it was 15% maximum. Is this bogus info? I can't see how this would be true unless it were a year on year number, in which case 15% seems awfully high.

Thanks again,
Chris

 

[Doctor P]

The ANNUAL cap is 15%.

 

[CarolMN]

IIRC, it is a max of 15% per year. The cap is due to Florida state law.

Fortunately, dues are based on actual operating expenses and at least since we have been members (1999), increases have been reasonable. (I find the year in which fees actually decreased to be very reasonable, LOL).

Best wishes-

 

[rocketriter]

BTW I can remember years (before the founding of DVC) in which annual inflation exceeded 15%. If we should return to stagflation, the 15% cap would be a blessing.

 

[Dean]

It's 15% per year and I believe that taxes are excluded. At 15% per year the increase would be astronomical very quickly. And it would only be a temporary help as any additional increases needed could be caught up over additional years. And there's also the possibility of a Special Assessment, something that would also be excluded from the 15 % cap.

 

[JimC]

...(I find the year in which fees actually decreased to be very reasonable, LOL).

Best wishes-

Carol, Was that the year DVC switched to the reduced housekeeping program?

 

[CarolMN]

Carol, Was that the year DVC switched to the reduced housekeeping program?

I don't think so - the housekeeping has been on the same schedule since we first stayed at the BWV in 2000. Did we used to get daily service?

Best wishes-