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Looking to buy?
Below is a breakdown of the maintenance fee, which is a reasonable $298.67 per month:
(please pardon the alignment...we're working on it!)
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ESTIMATED OPERATING BUDGET |
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JANUARY 1, 2009 TO DECEMBER 31, 2009 |
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CALLE MINORGA CONDOMINIUMS |
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ASSOCIATION COST: |
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PER UNIT COST: |
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| DESCRIPTION |
MONTHLY |
QUARTERLY |
ANNUALLY |
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MONTHLY |
QUARTERLY |
ANNUALLY |
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| I. ADMINISTRATIVE EXPENSES |
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| ADMINISTRATIVE FEES |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| ACCOUNTING |
$200.00 |
$600.00 |
$2,400.00 |
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$20.00 |
$60.00 |
$240.00 |
| LEGAL |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| OFFICE SUPPLIES |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| LICENSES & FEES |
$13.44 |
$40.31 |
$161.25 |
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$1.34 |
$4.03 |
$16.13 |
| FLA. DIV CONDO FEES |
$3.33 |
$9.99 |
$39.96 |
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$0.33 |
$1.00 |
$4.00 |
| SUB-TOTAL ADMINISTRATIVE |
$216.77 |
$650.30 |
$2,601.21 |
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$21.67 |
$65.03 |
$260.13 |
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| II. MAINTENANCE & REPAIRS (INCL. SERV. CONTRACTS) |
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| LAWN MAINTENANCE |
$400.00 |
$1,200.00 |
$4,800.00 |
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$40.00 |
$120.00 |
$480.00 |
| POOL MAINTENANCE |
$280.00 |
$840.00 |
$3,360.00 |
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$28.00 |
$84.00 |
$336.00 |
| PEST CONTROL |
$25.00 |
$75.00 |
$300.00 |
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$2.50 |
$7.50 |
$30.00 |
| FIRE ALARM SYSTEM |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| SUB-TOTAL MAINTENANCE |
$705.00 |
$2,115.00 |
$8,460.00 |
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$70.50 |
$211.50 |
$846.00 |
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| III. INSURANCE |
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| GENERAL, INCLUDING FIDELITY BOND |
$750.00 |
$2,250.00 |
$9,000.00 |
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$75.00 |
$225.00 |
$900.00 |
| FLOOD |
$825.00 |
$2,475.00 |
$9,900.00 |
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$82.50 |
$247.50 |
$990.00 |
| WIND |
$175.00 |
$525.00 |
$2,100.00 |
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$17.50 |
$52.50 |
$210.00 |
| SUB-TOTAL INSURANCE |
$1,750.00 |
$5,250.00 |
$21,000.00 |
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$175.00 |
$525.00 |
$2,100.00 |
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| IV. UTILITIES |
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| WATER AND SEWER |
$250.00 |
$750.00 |
$3,000.00 |
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$25.00 |
$75.00 |
$300.00 |
| ELECTRICTY FOR COMMON AREA |
$65.00 |
$195.00 |
$780.00 |
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$6.50 |
$19.50 |
$78.00 |
| CABLE T.V. |
$0.00 |
$0.00 |
$0.00 |
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$0.00 |
$0.00 |
$0.00 |
| SUB-TOTAL UTILITIES |
$315.00 |
$945.00 |
$3,780.00 |
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$31.50 |
$94.50 |
$378.00 |
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| V. OTHER EXPENSES |
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| SECURITY |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| RENT FOR REC. & OTHER COMMON FAC. |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| TAXES ON PROPERTY |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| TAXES ON LEASE AREAS |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| OPERATING CAPITAL |
N/A |
N/A |
N/A |
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N/A |
N/A |
N/A |
| SUB-TOTAL OTHER |
$0.00 |
$0.00 |
$0.00 |
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$0.00 |
$0.00 |
$0.00 |
| TOTAL EXPENSES |
$2,986.77 |
$8,960.30 |
$35,841.21 |
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$298.67 |
$896.03 |
$3,584.13 |
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| ESTIMATED COST PER UNIT |
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| WITHOUT RESERVES |
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$298.67 |
$896.03 |
$3,584.13 |
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RESERVE CALCULATIONS |
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| DESCRIPTION |
MONTHLY |
QUARTERLY |
ANNUALLY |
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MONTHLY |
QUARTERLY |
ANNUALLY |
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| ROOF FLAT |
$186.81 |
$560.42 |
$2,241.67 |
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$18.68 |
$56.04 |
$224.17 |
| ROOF MANSARD (METAL) |
$28.01 |
$84.04 |
$336.17 |
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$2.80 |
$8.41 |
$33.62 |
| ELECTRIC |
$113.64 |
$340.91 |
$1,363.64 |
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$11.36 |
$34.09 |
$136.36 |
| PAVING |
$62.50 |
$187.50 |
$833.33 |
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$6.94 |
$20.83 |
$83.33 |
| WALKWAYS |
$24.12 |
$72.37 |
$289.47 |
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$2.41 |
$7.24 |
$28.95 |
| PAINTING |
$371.00 |
$1,113.00 |
$4,452.00 |
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$37.10 |
$111.30 |
$445.20 |
| PLUMBING |
$625.00 |
$1,875.00 |
$7,500.00 |
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$62.50 |
$187.50 |
$750.00 |
| IRRIGATION |
$57.69 |
$173.08 |
$692.31 |
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$5.77 |
$17.31 |
$69.23 |
| POOL |
$176.77 |
$530.30 |
$2,121.21 |
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$17.68 |
$53.03 |
$212.12 |
| TOTAL RESERVES |
$1,645.54 |
$4,936.62 |
$19,829.80 |
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$165.24 |
$495.75 |
$1,982.98 |
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| ESTIMATED COST PER UNIT |
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| WITH RESERVES |
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$463.91 |
$1,391.78 |
$5,567.11 |
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| CATEGORY |
CURRENT BAL |
EST. |
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RESERVE ACCT |
REMAIN |
EST |
REPLACE |
ANNUAL |
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AS OF BUDGET |
LIFE |
LIFE |
COST |
RESERVE |
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| ROOF FLAT |
$0 |
12 YR |
15 YR |
$26,900.00 |
$2,241.67 |
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| ROOF MANSARD (METAL) |
$0 |
47 YR |
50 YR |
$15,800.00 |
$336.17 |
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| ELECTRIC |
$0 |
22 YR |
65 YR |
$30,000.00 |
$1,363.64 |
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| PAVING |
$0 |
18 YR |
20 YR |
$15,000.00 |
$833.33 |
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| WALKWAYS |
$0 |
38 YR |
40 YR |
$11,000.00 |
$289.47 |
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| PAINTING |
$0 |
5 YR |
7 YR |
$22,260.00 |
$4,452.00 |
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| PLUMBING |
$0 |
12 YR |
55 YR |
$90,000.00 |
$7,500.00 |
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| IRRIGATION |
$0 |
13 YR |
15 YR |
$9,000.00 |
$692.31 |
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| POOL |
$0 |
33 YR |
35 YR |
$70,000.00 |
$2,121.21 |
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| TOTAL RESERVES |
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$289,960.00 |
$19,829.80 |
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www.Minorga.com
Warren D. Hickernell, Realtor
Mango Bay Vacation Rentals
c/o Market America Realty & Investments, Inc.
574 Canal Road
Sarasota, FL. 34242
941-232-5738 sales
941-822-0520 rentals
Warren@MangoBayVacation.com |
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