GoDaddy asked 1 month ago

Piper\’s Landing owns 2 cottages and 1 Condominium.
Here are the fees that Piper\’s Landing would have received in 2019 if these residences had been sold :

  • Food & Beverage Minimum    $ 1,200 X 3 = $ 3,600
  • Capital Replenishment      $ 373.63 X 4 = $ 1,494.52 X 3 = $ 4,483.56
  • Clubhouse Renovation Assessments    $ 120 X 12 = $ 1,440 X 3 = $ 4,320
  • HOA Dues Cottage            $ 6,225 X 4 = $ 24,900 X 2 = $ 49,800
  • HOA Dues Condominium     $ 6,778 X 4 = $ 27,112
  • Membership Equity              $ 65,000 X 3 = $ 195,000
  • Capital Contribution   $ 10,000 X 3 = $ 30,000
  • Average price of a Cottage for sale            $ 100,000 X 2 = $ 200,000
  • Average price of a Condominium for sale    = $ 100,000

Total income          = $ 614,315.56
Piper’s Landing has received $ 52,300 in revenue for these rentals during the 8 month period (November of 2018 – June 2019).
To this amount must be deducted the expenses that Piper\’s Landing incurred for the rental:

  • Electricity $?
  • Insurance $?
  • Cleaning $?
  • Maintains $?
  • Property Taxes $?
  • …..etc. $?

For a cost of $ ????
If we act the HOA on these 8 months, voice what Piper\’s Landing should have received
= $ 519,543.71
So:

  • $ 52,300 – $ 519,543.71 = $ – 467,243.71  loss for Piper\’s Landing in 8 months
  • $ – 535,865.56 loss for Piper’s Landing in 1 Year !!!!!

How long will we keep units for renting or for \”Stay and Play\”?

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