How much will each co-owner pay in fees or dues to the fractional owners association?
Each apartment will have an annual operating budget including the costs of ongoing expenses like taxes, insurance and utilities, and an accumulating reserve for repair and replacement of the systems and apartment contents. Each co-owner will pay monthly or quarterly assessments to the owners association based on this budget. The initial budget and assessment amounts will be provided with each offering. Assessments will be substantially less than those associated with large timeshare developments or apartment-hotels with elaborate overhead, services, and management costs.
