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MF's in PR

Mongoose

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Location
Colorado
Resorts Owned
Hyatt Pinion Pointe, Hilton The Bay Club, Worldmark
Any thoughts on when the crazy MF's for PR (result of hurricane) will get back to normal? It looks like they are in the neighborhood of $3600 per year for a 2 BR.
 

sjsharkie

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I don't know what the current breakdown is for the $3600/mf, and if any of that is a special assessment.

That being said, you should look at the approved budget line items to get a clue on what is to come:

1. Reserves -- are they replenishing reserves due to the hurricane and at what rate do reserves get back to normal?
2. Bad Debt -- I'd bet that bad debt reserves are increasing, especially with the pandemic and outsized maintenance fees for 2022; there still was no agreement for how to handle foreclosed/deed backs between HOA and Hyatt based on the last agreement.
3. Insurance -- I'd also bet that insurance expense has increased for the foreseeable future, but would look to that line item to clue you in.

These would be some of the areas of the financials I would check. In general, a YoY delta change would give you a good picture of which items had significant increases, and then you can make some judgements around those that are one time increases, and those that are not.

-ryan
 
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