OFFICIAL THREAD: VSE/Starwood 2016 maintenance fees

[DavidnRobin]

I believe the MF/HO is the same for a given number of HomeOptions, irrespective of the season; however, the MF/HO does vary depending on the size of the points package(s) purchased. In other words, the total MF for a 81,000 HO package and a 67,100 HO package is going to be much more than the MF for a 148,100 package, even though both scenarios result in 148,100 HomeOptions. That's how it works at WSJ-CV, at least. Sheraton Flex does not work that way.

Yikes - Nico is going to have to work overtime to figure that out...

However, why not just go with complete HO packages (e.g. 67.1, 81, 148.1...) and not additive ones. the ones with additive ones will just have to deal... besides - who here has actual CV MFs at this point?

 

[okwiater]

Yikes - Nico is going to have to work overtime to figure that out...

However, why not just go with complete HO packages (e.g. 67.1, 81, 148.1...) and not additive ones. the ones with additive ones will just have to deal... besides - who here has actual CV MFs at this point?

Judging by this post from the original Coral Vista thread, the points packages which should probably be added to the database appear to be:

176,700 HomeOptions
148,100 HomeOptions
95,700 HomeOptions
88,350 HomeOptions
81,000 HomeOptions
74,050 HomeOptions
67,100 HomeOptions
47,850 HomeOptions
44,000 HomeOptions
40,500 HomeOptions
33,550 HomeOptions
22,000 HomeOptions

 

[thewhitehouse]

Cascades Annual Fees

I just received this letter from the Cascades Condo Association today.
Shows maintenance fee up from $940.52 last year. It doesn't reflect any taxes so I'm not sure how much the total increase will be. I don't know how to edit the image so that can be orientated correctly sorry.

 

[DeniseM]

The property taxes are listed as "Ad Valorem Taxes."

 

[grgs]

Sdo mf

2 bedroom LO EY:

Maintenance Fee(s) $ 1,112.98
Tax - If Applicable $ 0.00
Membership Fee - If Applicable $ 0.00
Other* $ 0.00
Interest $ 0.00
Late Fees $ 0.00
ARDA ROC PAC Contrib.** $ 5.00
Sub-Total
Current Year Charges $ 1,117.98​

1 bedroom premium EY:

Maintenance Fee(s) $ 765.17
Tax - If Applicable $ 0.00
Membership Fee - If Applicable $ 0.00
Other* $ 0.00
Interest $ 0.00
Late Fees $ 0.00
ARDA ROC PAC Contrib.** $ 5.00
Sub-Total
Current Year Charges $ 770.17​

Approx. a 2.5% decrease from last year.

 

[okwiater]

WKV 2-bedroom without ARDA and SVN is up a reasonable 3.2% from last year ($1,413.87 last year vs. $1,458.86 this year).

Maintenance Fee(s) $ 1,406.15
Tax - If Applicable $ 52.71
Membership Fee - If Applicable $ 140.00
Other* $ 0.00
Interest $ 0.00
Late Fees $ 0.00
ARDA ROC PAC Contrib.** $ 5.00
Sub-Total
Current Year Charges $ 1,603.86

 

[Quiet Pine]

2 bedroom LO EY:

My 2 bedroom LO EOY is $581.49, subtract ARDA $5 = $576.49. That's 1/2 of the EY plus a $20 fee.
Because I pre-paid MF for my other 2 bedroom LO EOY, I have a credit. I don't want to pay ARDA, so I'll have to ask them to add $5 to my $8.79 credit.

 

[DavidnRobin]

WKV 1Bd Premium - Large (81K SO)

Maintenance Fee: $863.18 (2015: $838.98)
Tax: $31.44 (2015: $28.35)
Total: $894.62 (2015: $867.33)

My calculator has this total (MF+Tax) increase of 3.1%, with MF increase of 2.9%

Note: These have been very cost effective resale SVO VOIs - as they are easily rented for ~$2,150. My mid-March 2016 reservations have already rented, and even had a contact from previous renter to see if I had a rental available. They have effectively paid for themselves, and still could be sold for around the original purchase cost in 2006-07.

 

[DavidnRobin]

I do not think it has pointed out here, but 2016 SVN fees are $140 (for 1st), and $40 more for 2nd ($180) - HI adds tax (arg)

The %increase year over year have been pretty high - haven't calculated, but I would estimate 8-10% annually over last 5 years (?)

 

[DavidnRobin]

2016 MF for WSJ-VGV (Hillside)

Studio - $1,399.39
1Bd - $1,865.92
2Bd Th - $2,332.45
2Bd Prem - $2,798.79
3Bd - $2,798.98

this is a decrease of 1.5% (-1.5%)

Property Tax ~$150 (billed separately) for our Gold+ 2Bd TH (95.7K SO)

 

[DavidnRobin]

Good old days... WKORV %increase over decade

I was curious - for WKORV OFD - found a thread:

2005 $1623.77
2006 $1813.16 (11.7%)
2007 $1954.27 (7.8%)
2008 $2203.79 (12.8%)

forward to...
2016 $3121.30 (92% since 2005)

these % increases apply to all WKORV villas

Question: Does it really cost 92% more to maintain WKORV than in 2005?

 

[okwiater]

Question: Does it really cost 92% more to maintain WKORV than in 2005?

I used to live in a condo that went from a $135/mo condo fee to $255/mo from 2007 to 2012. It turns out the increase wasn't the problem; rather, it was the irresponsible condo board that kept fees artificially low. $135 was not sufficient to build an adequate replacement reserve, and other expenses went up as well, particularly as the economy emerged from the housing crisis.

Do you have the operating budgets from 2005? My guess is that either the developer was funding part of the MFs to obscure the real costs, or the replacement reserves were inadequate. Combine that with increased Maui taxes and labor costs, and I bet that explains most if not all of the increase.

But I agree that your question is worth asking, and it would definitely be interesting to pull out a microscope and take a closer look. You're a scientist, right?

 

[YYJMSP]

How come I'm the first to get these bills?!? Am I special?

I'll update this post when the real MF bill arrives, but history shows that the proposed budget amount that arrives in the mail is rubber-stamped through to the MFs a few weeks later (BoD meeting is scheduled for Oct 21st).

SVR Spas, 2BR dedicated, annual, looks like it will be $753.72 (excluding property taxes) as compared to $717.51 (excluding property taxes) last year, so a ~5.0% increase.

The MF bill has posted, and it's actually a few dollars less than the proposed budget.

SVR Spas 2BR annual:

Due Date 01/06/2016

Maintenance Fee(s) $ 744.63
Tax - If Applicable $ 92.11
Membership Fee - If Applicable $ 0.00
Other* $ 0.00
Interest $ 0.00
Late Fees $ 0.00
ARDA ROC PAC Contrib.** $ 0.00
Sub-Total
Current Year Charges $ 836.74

2015 Maintenance Fee(s) were $717.51 so this is a ~3.6% increase. About half of the increase is wages, a bunch for "Reflects a decrease in 60-day Club rental occupancy for weeks not reserved by Owners under the Club priority period" and the balance is storm water system maintenance and increase in the reserves.

 

[DeniseM]

"Reflects a decrease in 60-day Club rental occupancy for weeks not reserved by Owners under the Club priority period"

60 days before check-in, Starwood can confiscate any unreserved inventory and rent it.

Apparently those rentals are down, but I am not exactly sure how that relates to maintenance fees. I'm guessing that Starwood has to reimburse the HOA a certain percentage for the weeks that they confiscate and rent, but I don't think that has ever been disclosed.

 

[YYJMSP]

60 days before check-in, Starwood can confiscate any unreserved inventory and rent it.

Apparently those rentals are down, but I am not exactly sure how that relates to maintenance fees. I'm guessing that Starwood has to reimburse the HOA a certain percentage for the weeks that they confiscate and rent, but I don't think that has ever been disclosed.

Now that I know what to look for, I see that the SVR Spas budgets have a Revenue item for "Club Rental Revenue". It was $220K last year ($17/unit/week) and is $80K this year ($6/unit/week), so we're being to asked to make up the difference?

Interesting -- will go see what the other property budgets have to say...

So we're on the hook for decreased rental revenue that was budgeted for. That's kinda silly -- it should have been treated as bonus monies and not in the budget at all I think.

 

[YYJMSP]

Rental Revenues

So, looking at the MF bills from last year, I see that they all have some form of "Rental Revenue" in the budgets, which might be the monies SVN gives to the HOA for units they "confiscated" at the 60 days mark.

It appears that this is budgeted revenue, so when it falls, our MFs might end up going up (as they did on my SVR bills) to make up for the shortage.

2016 WKORV -- Club Rental Revenue -- $260K budgeted ($15 - $24 /unit/week based on the unit size) -- 0.6% of the budget. The previous year was also $260K budgeted

2016 WKORVN -- Club Rental Revenue -- $240K budgeted ($18/unit/week) -- 0.6% of the budget. The previous year was also $240K budgeted.

2016 SVR (Spas) -- Club Rental Revenue -- $80K budgeted ($6/unit/week) -- 0.8% of the budget. The previous year was $220K budgeted, so a huge change downwards in revenue, which is probably why it was specifically listed as a reason for the changes in MFs this year.

I haven't gotten any of my other MF bills yet, but now I'm very curious, as I see that SVR (Cascades) had $380K budgeted last year, WDW had $220K budgeted last year, and WLR had -$320K budgeted last year (doesn't a negative revenue mean an expense, so WLR paid SVN $320K???)

 

[YYJMSP]

WDW

EOY, 2BR L/O

Due Date 01/08/2016

Current Year Charges
Maintenance Fee(s) $ 767.38
Tax - If Applicable $ 58.75
Membership Fee - If Applicable $ 0.00
Other* $ 0.00
Interest $ 0.00
Late Fees $ 0.00
ARDA ROC PAC Contrib.** $ 0.00
Sub-Total
Current Year Charges $ 826.13

2015 Maintenance Fee(s) were $745.68 so this is a ~2.9% increase. More than half of the increase is wages, a small amount to increase the reserves, and an increase in Bad Debt Expense (based on anticipated delinquencies )

 

[Sugarcubesea]

SDO - 2 Bedroom - EOY



Operating Assessment = $423.88
Replacement Reserves = $152.61
ARDA-ROC Pac Contribution = $5.00

$576.49 with out ARDA

 

[okwiater]

WLR

Just received my MF statement for an EOY 2-br lockoff at Westin Lagunamar (WLR).

2015 MF was $695.49
2016 MF is $695.39

Yes, that's a 10-cent decrease. I guess that means we'll have two nickels to rub together this year! :rofl:

Edit: The explanation for flat MFs is the strength of the US dollar, which allowed them to increase the replacement reserve as well as provide additional incentives for customer-facing staff without impacting MFs.

 

[grgs]

WLR 2 bedroom EY

$1,134.79: operating assessment
$256.00: reserves
$1390.79

 

[YYJMSP]

SVR Cascades 2BR L/O

I just received this letter from the Cascades Condo Association today.
Shows maintenance fee up from $940.52 last year. It doesn't reflect any taxes so I'm not sure how much the total increase will be. I don't know how to edit the image so that can be orientated correctly sorry.
View attachment 2303

The MF bill has posted for SVR Cascades. Our annual 2BR L/O is:

Due Date 01/07/2016

Maintenance Fee(s) $ 978.20
Tax - If Applicable $ 165.37
Membership Fee - If Applicable $ 0.00
Other* $ 0.00
Interest $ 0.00
Late Fees $ 0.00
ARDA ROC PAC Contrib.** $ 0.00
Sub-Total
Current Year Charges $ 1,143.57

Last year MFs were $940.52, so an increase of ~4%. Taxes are up $2.36

 

[SmithOp]

SVR - Falls. 2br non lock-off for 2016.

Maintenance Fee(s). $ 840.07

Tax - If Applicable. $ 80.63

Total: $925.70


Sent from my iPad Mini 4 using Tapatalk

 

[Palmtreelady1]

What is membership fee if applicable?

Why do I have to spend this and what is it?
Thanks


832.83 is my main fee for 2bedroom at Vistana courts section.

 

[DeniseM]

Why do I have to spend this and what is it?
Thanks

832.83 is my main fee for 2bedroom at Vistana courts section.

If you have Staroptions, that is the fee for the services that automatically come with your ownership.

For example, the ability to trade your Staroptions for other Starwood timeshares, and your Interval International Acct.

 

[okwiater]

SMV

Just received my MF statement for an annual 2-br lockoff at Sheraton Mountain Vista (SMV).

2015 MF was $1375.71
2016 MF is $1417.70

That's an increase of $41.99 or 3.1%.