Silver Lake Resort Maintenance Fees

[jbman]

My step-brother previously inherited a timeshare at Silver Lake Resort and he never really understood what he owned and I'm trying to help him figure it out.

It seems as though he has a 1 BR unit, high season, and the maintenance fees are a total of $1,227.52, which is comprised of:

Maintenance Fees $1,020.14
Property Tax $122.41
Reserves $78.97
Voluntary ARDA-ROC and Christel House $6.00

I've been looking for other posts to see what I can find out about the resort and the maintenance fees seem high compared to what others have posted for larger units, though I would ask if there were any other owners that could confirm the above sounds correct and that I'm not missing anything here?

 

[bankr63]

I'm mostly surprised you managed to get a breakdown out of them. Communications has been abysmal since CV took over management of the resort. My 2024 MF's finally posted this week, but I have yet to actually see a bill with any breakdown. MFs were supposed to posted in November, so only 4 months late; wonder how they will feel if I'm 4 months late paying. It's probably lopped about 4 TPU off my deposit to RCI.
My total fees for 2024 were $1347.10 for a 3BR LO non-prime weeks. So yes, your fees sound a little high, but not much. Much of what makes up the fees is pretty similar across all unit classes; a 3BR doesn't pay three times as much for landscaping as a 1BR for example. With the special assessment this year ($1350 for my unit class) that is really double for 2024, a bit of a hit to the pocketbook.

 

[bankr63]

My step-brother previously inherited a timeshare at Silver Lake Resort and he never really understood what he owned and I'm trying to help him figure it out.

It seems as though he has a 1 BR unit, high season, and the maintenance fees are a total of $1,227.52, which is comprised of:

Maintenance Fees $1,020.14
Property Tax $122.41
Reserves $78.97
Voluntary ARDA-ROC and Christel House $6.00

I've been looking for other posts to see what I can find out about the resort and the maintenance fees seem high compared to what others have posted for larger units, though I would ask if there were any other owners that could confirm the above sounds correct and that I'm not missing anything here?

I found the capital budget report it was mailed to all owners with the Notice for the Annual Meeting (which almost always arrives here after the meeting has occurred). Here is the breakdown for all unit classes:

Maintenance Fee Breakdown (Per Week)	2024
	Budget	Operating	Property	Reserve
Room Type	Total	Expenses	Tax	Contribution
Studio Deluxe	$ 1,209.00	$ 1,009.40	$ 78.13	$ 121.12
One Bedroom Regular	$ 1,222.00	$ 1,020.14	$ 78.97	$ 122.41
Two Bedroom Deluxe	$ 1,260.00	$ 1,052.35	$ 81.45	$ 126.28
Two Bedroom	$ 1,288.00	$ 1,075.99	$ 83.28	$ 129.11
Three Bedroom	$ 1,304.00	$ 1,088.87	$ 84.29	$ 130.66
Three Bedroom Deluxe	$ 1,341.00	$ 1,120.01	$ 86.69	$ 134.40
Total	$ 19,411,178.00	$ 16,211,172.43	$ 1,254,762.19	$1,945,243.37

I have to say that I like how they break these down a bit better than Sheraton (Vistana). My 3BR is only about $100 more than a studio here. That differential seems a bit low because my 3BR has a lot more furnishings and square footage than a Studio.

Compare that to Vistana where my larger 2BR townhome villa in Courts is 50% more expensive than the regular 2BR one floor down - very similar square footage and nearly identical furnishings (ours has one more sofa and a desk). That is the problem with Vistana having set the fees to have a percentage difference way back in the 70's but the way they apply it causes the difference to compound annually - for 50 years now.