Question about the maintenance fees

[Nicsmom]

I was told that the maintenance fee goes up about 2-3% a year. Does it ever go up beyond that to complete maintenance due to hurricane damage? Or what if (and I know this is a crazy question) SSR is totally destroyed due to natural disaster, does the maintenance fee go through the roof? Thanks for the info.

 

[bicker]

The association does have a reserve fund to address catastrophic repairs that may be necessary, so the maintenance fee will not skyrocket because of something like that, unless perhaps there is a total loss, which is comparatively unlikely at SSR, due to where it is located (at WDW instead of by the shore) and how well it is built.

 

[Plutofan]

The average may go up 2-3% but some years there may be no increase while other years they may go up a lot more. There is a 15% increase cap per year. Last year one resort went up approximately 10%.

 

[bicker]

10%???? I don't remember anything close to that. Ours went up about 4% I believe.

 

[RobDoc]

The biggest increase I can remember was a little over 8% at OKW a couple of years ago (and that included a property tax increase for the year). Increases have averaged around 4% per year and have actually decreased a couple of times.

There is a 15% maximum - independent of property taxes - unless the owners vote to allow a higher increase. That has never happened and there has never been a special assessment even with the hurricane damage at VB.

 

[Chuck S]

The resorts are insured. If there is a catastrophe and the resort is obliterated, it will be evalutated and if it is deemed that it "isn't worth repairing" the insurance will be distributed amongst the owners and they will no longer be DVC members. If the resort needs major repair, but is deemed repairable, any expenses not covered by insurance and other available funds can lead to a one time special assessment, and in fact, owners at Vero Beach were told to expect such an assessment after the hurricane damage a year or so ago. However, available funds did cover the repairs and the assessment was not needed.

DVC also has the ability to restrict usage of your points while your resort is under extended repair, where you could not use your points at all, as your closed resort would have no "trade value."

BTW, these things don't neccessarily apply to a resort as a whole, they could also apply if the particular building where you are deeded is destroyed...so while unlikely, in theory if your building is destroyed by fire you could be denied use of your points, even if the rest of your resort is undamaged. I doubt DVC would ever enforce that, but it is in the rules "just in case."

 

[Plutofan]

Here is a recap of the dues increase. OKW almost went up almost 10% while the others went up less. Sorry about the confusion.

Year OKW BWV VB VB(sub) HH VWL BCV SSR

2006 4.24 4.69 5.27 4.12 4.34 4.61 4.48 3.98
2005 3.86 4.41 4.87 3.84 3.86 4.35 4.27 3.83
2004 3.68 4.25 4.67 3.67 3.70 4.22 4.18 3.80
2003 3.49 4.11 4.37 4.37 3.69 4.05 3.97
2002 3.22 3.92 4.17 3.33 3.49 3.80 3.77
2001 3.13 3.83 3.98 2.70 3.32 3.63
2000 3.16 3.94 4.07 2.87 3.25 3.62
1999 3.16 4.02 3.99 2.82 3.18
1998 3.17 3.94 ---- 2.76 3.20
1997 3.14 3.84 ---- 2.90 3.16
1996 2.99 3.70 ---- 2.82 3.16
1995 2.84
1994 2.70
1993 2.63
1992 2.56
1991 2.51
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