The year 2014 is coming to a close and Makaha Valley Towers' board of directors has voted on next year's budget. Not surprisingly, maintenance fees will increase. This table outlines the changes:
| 2014 | 2015 | Increase | |
| Studio | $560 | $577 | $17 |
| 1 Bedroom | $708 | $729 | $21 |
| 2 Bedroom | $837 | $862 | $25 |
People are often skeptical about condo maintenance fees. Some important things to keep in mind are:
- Condo associations are not for profit entities. They collect assessments, put money aside for future repairs and spend the rest for utilities, security, landscaping and management.
- Condo boards are under pressure from owners to keep the maintenance fees as low as possible. Sometimes the pressure backfires, if boards don't increase fees when they should. Later on, a larger increase in fees becomes necessary to catch up.
- Approximately half of Makaha Valley Towers' monthly assessments pay for utilities. This condo includes electricity and central air conditioning in its fees. If the electrical and air conditioning were charged separate from the maintenance fees, they could easily run $150 per unit per month. Basic cable tv is also included and would cost about $45 per month if billed separately.
Sales prices at Makaha Valley Towers are showing upward movement. While many parts of Oahu's market have rebounded and are at or near pre-recession levels, the Towers are still lagging. It looks like the Towers prices will rise more quickly in the coming years as buyers search for the most affordable properties on Oahu.
Makaha Valley Towers smoking policy
If you're a smoker, please note the Towers's smoking policy. Smoking is allowed in your unit and in the barbecue area near the swimming pool. That's it, nowhere else. Smoking on your lanai or in the entryway to your unit is prohibited.
I have a tenant in a unit at Makaha Valley Towers and one of his friends was cited for smoking in the parking lot. It resulted a $200 fine! And the tenant has to pay it or move out. This rule is great for non-smokers.
Another important note is that marijuana is prohibited at Makaha Valley Towers. The State of Hawaii has approved marijuana for medical purposes but the Towers don't allow it - someday there will be clarification and changes one way or another. For now though, it's best to avoid possessing marijuana to avoid citation, eviction and possible criminal charges.
Take a look here for listings at Makaha Valley Towers
Aloha, Mike
Michael Bates (Realtor Associate)
Shirokiya Residential Estates
1585 Kapiolani Blvd #1533
Honolulu, HI 96814
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