WSJ 2009 budget and refurbishment project

[jimpia]

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Just received WSJ 2009 budget along with a letter outlining the hillside villas refurbishment project. I own a three bedroom pool villa and my maintainance fees have gone up 62% since last year!! $1825 to $2959. In my opinion,this is an outrageous increase without an owners vote taking place. The letter states four buildings are undergoing this refurbishment from 2009 until 2011. Does anyone know whether this includes the older 3 bedroom pool villas as far as kitchen cabinet replacement, installation of granite counters, new appliances, new floor and shower tile, new fixtures throughout?
I know they have started redecorating with furnishings, art work, and draperies this year.

 

[LisaRex]

Wow! Are these just MFs or MFs + special assessments for 3 yrs?

 

[DavidnRobin]

I am on it when we get back from WKORV - feel free to stoke the fire and let us know anything. I plan to contact the HOA (Walter and the other person listed)

 

[jimpia]

MFs + special assement for 3 years.
The letter states an increase of an average of $625 per ownership week affecting 2009,2010, and 2011 MFs.

 

[DavidnRobin]

MFs + special assement for 3 years.
The letter states an increase of an average of $625 per ownership week affecting 2009,2010, and 2011 MFs.

This is fuzzy math - every assessment except studios is much greater than $625 - there are equal amount of studios and 1 Bds - and then add in the 2Bds and 3Bds - how does that come out to $625...?

unless they are adding in the villas that are not being refurbished - thus... the gorilla math.

 

[Golfnow]

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Just received WSJ 2009 budget along with a letter outlining the hillside villas refurbishment project. I own a three bedroom pool villa and my maintainance fees have gone up 62% since last year!! $1825 to $2959. In my opinion,this is an outrageous increase without an owners vote taking place. The letter states four buildings are undergoing this refurbishment from 2009 until 2011. Does anyone know whether this includes the older 3 bedroom pool villas as far as kitchen cabinet replacement, installation of granite counters, new appliances, new floor and shower tile, new fixtures throughout?
I know they have started redecorating with furnishings, art work, and draperies this year.

Can you fax me the letter you received with the higher fees? fax is 321-577-0233. If it is available online at the website, you can paste the direct link if you can.

I am researching the increases in the MF's and there are some concerning things happening. Once we have the details of peoples budgets, it will give all of the owners some good info to work with the boards to lower fees.

Thanks,

J

 

[aytug]

Aren't they suppposed to build reserves to cover refurbishment costs? I understand that MF (i.e. budget) includes an unspent portion set aside (reserve) that is used to replace aging appliances etc. Of course no-one is perfect at forecasting future costs and if actual costs are higher, this is when special assessments come in, but ... higher by 150K per villa? Can anyone explain?

 

[Loriannf]

It's an Island

With no airport. Everything must be flown into St Thomas and transported by boat and truck. If nothing else, this accounts for a lot of the costs. Plus, they're trying to make everything more "upscale", like we really want or need granite in a vacation villa.:annoyed:

Lori

 

[mariawolf]

Well it will be interesting to see when you go whether they still provide things like coffee, dish and dishwasher soap and laundry detergent! I just found out that Harborside where we own no longer provides dish soap==I know this sounds petty but with high fees it is the least they can do. We go with friends who own 5-6 weeks of 3 BR pool villas in St John and go with them regularly so I was sort of shocked to see what was provided there! Hopefully they didn't go into cardiac arrest when they got all their bills! This year we are also chartering a power cat for a week--maybe they will want to rent some of their weeks now!