This question came to me in email. It is about Daytona Beach Resort & Conference Center (DBR&CC). I do not know their line-by-line expenses, but I will try to answer in general.
Association Dues stem from the budget. The Association establishes the budget, and then divides it among the condo owners.
In DBR&CC they go by the room, so it does not matter what size, every room is assessed the same. Now it is $475 a month. For quite some time it used to be $450.
Hawaiian Inn, using the same by-room assessment, charges $450. Plaza Resort & Spa charges $555 a month.
So, which factors play a role? Of course, the cost of kilowatt is pretty much the same for every condo-hotel. Same with other utilities, and hourly labor.
Let’s look at Daytona Beach Resort & Conference Center. Over 400 ft on the ocean, a lot of decking, a lot of grounds to take care of. They have 2 large outdoor heated pools, kiddie pool and indoor pool. So, you will be spending more on them (maintaining, heating), than in a condo-hotel, where you have only one pool.
It has a lot of conference space, workshops. I don’t think there is justifiable income, but it is the expense, which many other condo-hotels don’t have.
Multi-level garage. Majority of other condo-hotels have ground level open parking. Maintaining the garage costs money.
To me it is not surprising that DBR&CC’ expenses maybe higher than in some other condo-hotels.
Does it affect the bottom line? It most probably doesn’t. Rental income is more important than what you pay in Association Dues. If the income is decent, then it is enough to cover the Association Dues (aka Maintenance fee) and Property Taxes. And this is considered good for Daytona Condo-hotels.
From what I know, it is the case in DBR&CC.
Of course, this is just my opinion.
Follow this link for the list of condos for sale in Daytona Beach Resort & Conference Center
Comments(8)