Question about the yearly fees...

[kerri0616]

OK, I'm still learning, so I'm not sure I'm using the right word. I'd like more info on the amount of maintenance fees/upkeep fees/whatever for each resort.

How are they determined? Can they increase over the next 40 years? Are they paid annually or monthly?

Thanks,
Kerri

 

[JimC]

Hi Kerri,

Annual dues are assessed on a calendar year basis. They can be paid monthly if direct debit out of checking account. Otherwise they are paid in January by check or credit card.

They do go up and the oldest resort (OKW) as averaged 3.2% annual increases over its life to date. There is a link to the details on this that I will find and post for you.

 

[DVCconvert]

Once a year the MF rates are set per DVC resort (currently for example BWV is $ 4.41). If you owned 100 points at BWV during 2005, you'd have to pay DVC $ 441.00 for MF's for the year. The more points you own, the more MFee's you pay.

MF's can increase (and have) year to year -- some year's increases have been more or less than others in the past. Occassionally the MF rate per year can actually go down.

You can pay either monthly, or yearly in one lump sum.

HTH

current rates:
Saratoga Springs $3.82
Old Key West - $3.86
Hilton Head - $4.03
Beach Club Villas - $4.26
Wilderness Lodge - $4.35
Boardwalk Villas - $4.41
Vero Beach - $4.86

 

[JimC]

Dues history thread
http://130.94.75.33/showthread.php?t=483351

DVC budgets (the basis for annual dues)
http://130.94.75.33/showthread.php?t=681217

 

[PamOKW]

The dues cover actual (or estimated in the case of taxes) costs. DVC can't tack on fees to boost profit. In recent years, increased property and health insurance costs for staff have been big contributors to increases. Also, the money DVC has invested saw a smaller rate of return and the drop in tourism effected the income from rental of unused homes. Hopefully, these things are turning around and we'll return to small/no increases for a stretch.

 

[dianeschlicht]

Last year at the annual meetings, they said they were kind of playing catch up with the taxes. It seems Florida tacked on a bunch of extra property tax for timeshares, and they have been trying to catch up to the new rate the past few years. Because they can't make a profit on this fee, I never worry that it will become too exhorbitant. Ours at OKW have even gone down several times.

 

[JimC]

Last year at the annual meetings, they said they were kind of playing catch up with the taxes. It seems Florida tacked on a bunch of extra property tax for timeshares, and they have been trying to catch up to the new rate the past few years. Because they can't make a profit on this fee, I never worry that it will become too exhorbitant. Ours at OKW have even gone down several times.

This may become a bigger problem. It seems that timeshares in Hawaii are getting the same treatment. Its so easy since we can't vote and those who can really don't care if taxes are loaded on us! Read this story:

http://www.hawaiireporter.com/story.aspx?d7457d26-4306-41ee-9f2c-57a4446b09df