what is AOAO Assessment fee?

Sorry if this is already covered in another thread, but I couldn't find the answer with search ...

In looking at my MOC 2011 Maintenance Fees, I see:

Fiscal Year Description Due Date Amount Due
2011 AOAO Assessment 667.88
2011 Operating Fee 702.43
2011 Reserve Fee 158.64
2011 Property Tax Fee 303.56
Total Charges $1832.51

Exactly what is the AOAO Assessment?

So I discovered a few definitions from MVCI docs:

AOAO = Association of Apartment Owners.

Operating Fees: These funds cover the cost of all resort expenses incurred on an annual basis, e.g. electricity, phone, maintenance and housekeeping.

Reserve Fee: This is planned funding of capital replacement expenditures for replacement of large items, e.g. refrigerators, roof repairs and villa furnishings.

Property Tax: These taxes are assessed by the county in which the resort is located and billed to each Owner through the maintenance fee.

However, this still does not explain what the AOAO Assessment is.

Isn't this the second year of the two year special assessment at the Ocean Club?

dioxide45 said:

Isn't this the second year of the two year special assessment at the Ocean Club?

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I don't think so, I am an owner there and I am unaware of any special assessment at Maui Ocean Club.

Michigan Czar said:

I don't think so, I am an owner there and I am unaware of any special assessment at Maui Ocean Club.

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Oops, I didn't look at the OPs resorts, I was thinking of the Aruba Ocean Club.

Has this question been answered somewhere else? I, too, would like to know.

Thx

I've been patiently awaiting the answer- to no avail. And so I've pulled out our Disclosure Statement (2008). My eyes are swimming a bit, but I do find:

Exhibit '4', page 4: Association of Apartment Owners of MOC, 2008 Assessment Operating Budget which is a breakdown of estimated replacement cost, useful life, remaining useful life, and fund balance. The line items in this budget are:
Furniture, Fixture and Equipment,
External Building Maintenance,
Common Area Rehabilitation,
Roof Replacement,
Building Painting.

Interestingly on page 1 of Exhibit 4: Assessment Budget of MOC Vacation Owners Association amongst a long list of line items (such as accounting, bad debt expense, front office, insurance, etc.) there exists separate line items for Property Taxes and Condominium Association Assessment. All these line items are summarized as Total Operating Expenses. Below this is another line item "Reserves for Replacement (Interior).

The breakdown for 2008, using the nomenclature from Exhibit '4', before weighting $ per 1/2/or 3bdrm unit was (in whole numbers):

Reserves for Replacement (Interior) $98
Operating Expense (less Property Tax and Condo Assoc. Assess.) $ 509
Property Tax $82
Condo Association Assessment $740

I would hypothesize that the AOAO Assessment, is also known as the Condominium Association Assessment and covers those items as outlined under Exhibit '4', page 4.

My mind now seems to recall a discussion with our salesman whereas the AOAO fund is maintained for complete interior renovations on a given schedule, whereas the 'Reserves for Replacement' is set aside for instances of unplanned breakage/damage- or small scale replacement.

All I know is that when you vote, you vote in two different places. I don't understand what the difference is either. I thought that one was for the resort in total and the other one for the Marriott timeshare owners part of the complex but I may be wrong. There are two different Associations here.

If you add the AOAO fee and the replacement reserve fee together, the resort is putting back over $800 per unit for repairs and renovations. Most other Marriott resorts are in the $200 range. Does it really cost four times more to renovate a unit in Hawaii?

Looking at our maintenance fees for Grande Vista, all we have are:
Club Fee
Reserve Fee
Property Tax Fee
Operating Fee

Glad we don't have the (expensive) AOAO fee.

Fees

All I know is that with $1832 being charged for fees I could rent a week, including Hawaii and still have my initial investment. Sounds like Marriott is really taking advantage.

Marriott Fees

I agree that Marriott owners feel "taking advantage of" with the fees. We were owners at Kaui Beach Club and in addition to all fees mentioned, we were also hit with a huge assessment after the last hurricane damage.Because of the hurricane history, and damage following, Marriott should have been prepared for that and had a fund for it. I stayed at the original facility on the same spot, which was the Kaui Surf Resort. After it was totaled by a hurricane, another large company opened a new resort on the spot, was destroyed, then Marriott rebuilt. We pay for their mistakes. We sold, although we love the Marriott Hotels, not so fond of their expensive timeshares. Its much better to just rent from an owner, I think. Sandra

sdgaskill said:

I agree that Marriott owners feel "taking advantage of" with the fees. We were owners at Kaui Beach Club and in addition to all fees mentioned, we were also hit with a huge assessment after the last hurricane damage.Because of the hurricane history, and damage following, Marriott should have been prepared for that and had a fund for it. I stayed at the original facility on the same spot, which was the Kaui Surf Resort. After it was totaled by a hurricane, another large company opened a new resort on the spot, was destroyed, then Marriott rebuilt. We pay for their mistakes. We sold, although we love the Marriott Hotels, not so fond of their expensive timeshares. Its much better to just rent from an owner, I think. Sandra

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Are you talking about Kauai Hawaii? I don't think Hurricanes are all that prevalent in Hawaii. Hurricane Iniki hit in 1992. Now if you are talking about Aruba, that may be a different story. Though hurricanes don't hit there as often as other Caribbean islands.