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Joined: Oct 2013
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Traveler
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Traveler
Joined: Oct 2013
Posts: 368 |
Do owners of multiple weeks in Condos pay the same maintenance fees for every week they own? Are there any fee breaks? Aren't maint. fees several hundred dollars per week at most nicer condos?We were watching a show on TV about owning condos and their HOA? Maint. fees are for a month usually. Just curious.
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Joined: Feb 2006
Posts: 490
Traveler
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Traveler
Joined: Feb 2006
Posts: 490 |
Maintenance fees are a set price for the size of your unit. If you have more that one unit then you will pay the fee for each unit. The fees will vary depending on the size of your unit. I own at OBBR and I call them and pay a monthly payment or you can pay one yearly payment.
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Joined: Mar 2009
Posts: 20,306 Likes: 49
Traveler
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Traveler
Joined: Mar 2009
Posts: 20,306 Likes: 49 |
HOA fees are different than Timeshare Maintenance fees. MF's are as explained above whereas HOA fees are set by the HOA and everybody pays the same and can be billed monthly, quarterly or yearly.
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Joined: Aug 2000
Posts: 1,434
Traveler
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Traveler
Joined: Aug 2000
Posts: 1,434 |
Simply stated, True ownership of a condo, villa, apt. etc. normally does include a MF paid at agreed upon (monthly/quarterly/annual) intervals.
Timeshare is not really ownership of property but an ownership of an agreed upon week or weeks at a resort and MF for same is normally billed annually. I do not know for certain but would assume the folks at our timeshare facility that have timeshares of 3-4 months understandably negotiated a reduced rate for their MFs.
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