Seminole Isle | budget for 2012 is approved

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.

Seminole Isle condo front

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

One comment

  1. Yes, that is great news. I just showed buyers around in Seminole Isle and that is one of the questions everybody has, since their are a lot of horror stories out there about Associations that are not doing good and having to increase the fees for the remaining, paying owners in order to catch up with Short Sales and Bank owned units that are not paying. My buyers were super impressed with the complex and Steve, at the Association was super nice and answered all their questions. We wound up making an offer on a 1,500 sq ft unit that was accepted. Looking at the active Listings in Seminole Isle now is something I haven’t seen! ONE active listing!!!! How would have thought, that we would actually be running out of condos or townhomes to sell in Seminole Isle? Now we have to start a waiting list for condos as well, not just townhomes for Seminole Isle.

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