Annual MF Inflation Rate

[Bustah]

It's one of those nights where I have too much time on my hands...what is the general consensus on how much our MF increase each year?

I was thinking I could more accurately calculate cost per point over a 20-year period by adding $30 to the MF each year (after the first year) getting a more accurate representation of the total cost over 20 years.

Any ideas?

 

[alwysonvac]

It's one of those nights where I have too much time on my hands...what is the general consensus on how much our MF increase each year?

I was thinking I could more accurately calculate cost per point over a 20-year period by adding $30 to the MF each year (after the first year) getting a more accurate representation of the total cost over 20 years.

Any ideas?

If you want to figure it out based on past dues, here are the MFs for the last six years for SeaWorld two bedroom OVS II.

YEAR Operating Fee/Reserve Fee/Tax/Sub Total/Voluntary ARDA/Club Dues/Special Assessment/Grand Total
2004 $404.03 $69.35 $94.55 $567.93 $3.00 $85.00 $0.00 $655.93
2005 $420.02 $72.92 $91.68 $584.62 $3.00 $85.00 $0.00 $672.62
2006 $435.40 $70.43 $92.01 $597.84 $3.00 $85.00 $0.00 $685.84
2007 $553.48 $78.38 $115.48 $747.34 $3.00 $90.00 $0.00 $840.34 (see NOTE below for the reason for the 2007 increase)
2008 $553.50 $110.87 $100.89 $765.26 $3.00 $90.00 $0.00 $858.26
2009 $568.31 $119.43 $92.78 $780.52 $3.00 $95.00 $0.00 $878.52

NOTE: From the 2007 Maintenance Fee Letter
"There are two major drivers for the increase in maintenance fees. These are insurance and electricity, which has increased 20% so far this year."
"After soliciting bids for property insurance, we were forced to accept a 311% increase to provide the Statutory requirement of replacement costs coverage. This is the major reason for the 2007 maintenance fee increase."

 

[jestme]

Here are Kalia numbers for the past 3 years, studio and 1BR. Thing that concerns me is that although the fees are up only slightly this year, the reserves are down almost 25% over previous years.
Studio
YEAR Operating Fee/Reserve Fee/Tax/Sub Total/Voluntary ARDA/Club Dues/Special Assessment/Grand Total
2007/$426.25/32.84/3.16/449.20/3.00/$85.00/
2008/480.91/37.77/3.52/508.79/3.00/90.00
2009/506.53/28.59/6.07/521.70/3.00/95.00

1BR
YEAR Operating Fee/Reserve Fee/Tax/Sub Total/Voluntary ARDA/Club Dues/Special Assessment/Grand Total
2007/$685.68/78.69/7.56/754.49/3.00/$85.00/
2008/$741.89/90.50/8.44/822.51/3.00/90.00/
2009/$815.64/68.52/14.54/870.74/3.00/95.00

 

[alwysonvac]

Thing that concerns me is that although the fees are up only slightly this year, the reserves are down almost 25% over previous years.

Perhaps check to see if anything was mentioned in the Maintenance Fee Letter to explain the reduction.
The HOA documents are also available online (after you log in select "My Ownership" and then select "My Homeowners Association" and click on the link for the homeowners association).


Here's the annual MFs for the Flamingo one bedroom for the last seven years (NOTE: it doesn't include the Voluntary ARDA and Club Dues)

YEAR / Operating Fee / Reserve Fee / Tax / Sub Total / Special Assessment
2003 $431.46 $62.32 $31.52 $525.30 $0.00
2004 $433.63 $67.59 $33.70 $534.92 $0.00
2005 $442.44 $72.40 $34.40 $549.24 $0.00
2006 $451.21 $77.67 $35.52 $564.40 $0.00
2007 $470.62 $89.41 $37.99 $598.02 $0.00
2008 $501.59 $105.74 $38.21 $645.54 $96.20
2009 $539.78 $100.56 $41.79 $682.13 $95.33

 

[Bustah]

Thanks for all the great info. Looks like a little bit of homework to do and maybe $30 per year was a bit of an understatement.