Maybe someone can check my math. I own 1 delux and 2 surperior units. New maintenance fee for the deluxe is $631.39 and $746.75 ea. for each deluxe
Total maintenance fee for my 3 units =$2,125 for 2018. (rounded off)
Refurbish fee is 125 % of the total maintenance fee. = $2,656 over a 3 yr. period. So if I take the 3 yr. option it’s going to cost me an additional $885 per year for the 3 units over and beyond the regular maintenance fee.
Someone tell me my math is wrong.
Has anybody asked why there is a refurbishment fee at all. I am pretty sure that the by-laws would require that a portion of all maintenance fees are set aside for replacement of items as their normal lifespan expires. There should be no need to have a special assessment if the reserve is where it is supposed to be.
Also, I would assume that all the major renovations would take place during the low season thus depriving anybody that owes during those weeks the use and enjoyment of the property they own.