Can someone explain the MF's???

[JM48]

I just bought at sea world my MF's are $943.00 / yr. It is 5000 pts. gold.
I have seen others for sale with higher fees & others with lower fees at the same place with same pts. Why??

Also this is a great site!!

Thanks,

JM 48

 

[Socko33]

Hey JM!

Welcome to TUGG!

Maintenance fees are calculated based on the property you own at (Sea World, LV Flamingo, HHV, W57th NYC, etc) and the size of the unit you own...it is NOT calculated on points.

Everyone who owns a 1BR at seaworld is paying the same maintenance fees no matter if they own silver, gold, platinum.

2BR all pay the same fee as well...

Good luck perusing the TUG boards....there's a TON of info!

 

[alwysonvac]

MF fees may vary based on how old the listing is and/or if club dues were added.

Our HGVC Maintenance Fee includes the following components:
- Operating Fee
- Reserve Fee
- Real Estate Taxes
- Club Dues
- Voluntary Arda & ROC/PAC (optional)

For Seaworld, there is an additional difference...There are two budgets at SeaWorld. One for Orlando Vacation Suites I (for phases 1 and 2) and the other for Orlando Vacation Suite II (for phases 3 & 4). "OSV I" MF is the same regardless of unit size however their Real Estate taxes differs by season and unit size. "OSV II" MF is based on unit size (don't know whether Real Estate taxes differs by season and unit size for OSV II).

SeaWorld two bedroom MFs reported on TUG
OSV I - 2008 Operating Fee 01/01/08 $539.58, 2008 Reserve Fee 01/01/08 $140.40, Real Estate Taxes 01/01/08 $141.88 (HGVC season unknown)
OSV I - 2009 Operating Fee 01/01/09 $563.96, 2009 Reserve Fee 01/01/09 $165.00, Real Estate Taxes 01/01/09 $147.31 (HGVC season unknown)
OSV II - 2008 Operating Fee 01/01/08 $553.50, 2008 Reserve Fee 01/01/08 $110.87, Real Estate Taxes 01/01/08 $100.89
OSV II - 2009 Operating Fee 01/01/09 $568.31, 2009 Reserve Fee 01/01/09 $119.43, Real Estate Taxes 01/01/09 $ 72.06 (NOTE: 2009 Real Estate Taxes were different for OSV II - MadDawg reported $146.82 and Talent312 reported $72.06; I just checked mine, I have $92.78)

Links to 2008 & 2009 MFs
http://www.tugbbs.com/forums/showthread.php?t=83985
http://www.tugbbs.com/forums/showthread.php?t=57419

From the Orlando Vacation Suites 2006 Audit (found online under the Association name)

NOTE 1 - THE ASSOCIATION
Orlando Vacation Suites II Condominium Association, Inc. (the “Association”) was incorporated on December 6, 1996, under the laws of Florida as a corporation not-for-profit, to manage, operate and maintain Orlando Vacation Suites II (“OVS II”), an interval ownership condominium located in Orlando, Florida. The condominium consisted of 448 units (23,296 unit-weeks) as of December 31, 2006. The Hilton Grand Vacations Development Company - Orlando, a Florida general partnership (the “Developer”), is under no obligation to submit additional phases to the condominium other than Phases 1, 2, 3, and 4. Pursuant to Section 721.07(5)(t) Florida Statutes and the Declaration of Condominium, there shall be no time limit during which the developer shall be obligated to complete its phasing plan, and the developer reserves the right to submit additional phases, if any, to condominium use in any sequence. The owners of all unit-weeks in the condominium are the only members.

Orlando Vacation Suites Condominium Association, Inc. (“OVS”) was incorporated on October 13, 1994, under the laws of Florida as a corporation not-for-profit, to manage, operate, and maintain Orlando Vacation Suites, an interval ownership condominium located in Orlando, Florida. The condominium consisted of 68 units (3,468 unit weeks) as of December 31, 2006. The developer is under no obligation to submit additional phases to the condominium other than phases 1 and 2. Pursuant to Section 721.07(5)(t) Florida Statutes and the Declaration of Condominium, there shall be no time limit during which the developer shall be obligated to complete its phasing of Orlando Vacation Suites. The owners of all unit-weeks in the condominium are the only members.

Articles of Merger were filed with the Secretary of the State of Florida on January 26, 2001, whereby the associations for OVS and OVS II were merged, with the Association as the surviving corporation. However, each timeshare plan continues separately, with all members retaining their same voting rights and interests.