Seminole Isle | budget for 2012 is approved
Seminole Isle association just approved their budget for 2012. The monthly maintenance fees for each condo will go down a little.
The 2100 square feet units go from $319.64 in 2011 to $317.99 in 2012
The 1700 square feet units go from $258.76 in 2011 to $257.41 in 2012
The 1500 square feet units go from $228.31 in 2011 to $227.13 in 2012
The biggest item on the Seminole Isle budget is insurance for the property with estimated coast of $170,000 for a total of 180 condos in Seminole Isle.
Other items are $36,000 for elevator maintenance and inspections and $1500 for repairs and $5200 for elevator phone lines that is about $7100 per elevator per year. That sounds like a lot of money but then again, if you divide it by units and days the elevator cost $65 cents per day for each condo. (And that’s if you ride the elevator or not)
$16,000 for exterior maintenance and repairs, roof repair and maintenance is only $1000, electric for lobby, elevator and breezeways is $28,000, trash is $16,000, legal fees are estimated to be $10,000, sewer maintenance and repair is $5000 and one goes the list.
The total income expected from Seminole Isle maintenance fees and rentals in 2012 is $585,245
Seminole Isle is building up reserves for the roof, painting, elevators, lobby refurbishing and pavers in the amount of $103,000 and with that all these future projects are fully funded. So, looks like the Seminole Isle association is in very good shape. Seminole Isle | budget for 2012 is approved