DVC Dues increses for 2013

[GoofGoof]

Here is the list of dues increases for 2013:

Resort 2012 Dues
2013 Dues Increase
Animal Kingdom Villas

$5.4356​

$5.6749​

+4.40%​

Aulani (Subsidized)

$4.4794​

$4.7716​

+6.52%​

Aulani (non-Subsidized)

$5.9607​

$6.2529​

+4.90%​

Bay Lake Tower

$4.2219​

$4.4972​

+6.52%​

Beach Club Villas

$5.5043​

$5.6458​

+2.57%​

BoardWalk Villas

$5.6160​

$5.8409​

+4.00%​

Grand Californian

$4.3255​

$4.5752​

+5.77%​

Hilton Head

$5.9290​

$6.0213​

+1.55%​

Old Key West

$5.2035​

$5.3447​

+2.71%​

Saratoga Springs

$4.7309​

$4.8129​

+1.73%​

Vero Beach

$7.1163​

$7.4076​

+4.09%​

Wilderness Lodge

$5.6096​

$5.7931​

+3.27%​

I swiped this from another site so its unofficial, but I can verify the BLT number is real since I am an owner. I broke down BLT to see what changed:

2012​

2013​

% Change
Admin/Front Desk
0.4729
0.4681

-1.02%​

Annual Audit
0.0025
0.0025

0.00%​

DVC Resevation
0.0054
0.0059

9.26%​

Fees to Division
0.0050
0.0050

0.00%​

Housekeeping
0.6534
0.8502

30.12%​

Income Taxes
0.0132
0.0137

3.79%​

Insurance
0.0848
0.0847

-0.12%​

Legal
0.0002
0.0002

0.00%​

Maintenance
0.4445
0.4538

2.09%​

Mgmt Fee
0.3141
0.3361

7.00%​

Member Activities
0.1283
0.1547

20.58%​

Security
0.0283
0.0347

22.61%​

Transportation
0.3095
0.2859

-7.63%​

Utilities
0.1987
0.2504

26.02%​

OPERATING EXPENSE
2.6608
2.9459

10.71%​

Int Income
(0.0014)
(0.0016)

14.29%​

Late Fees
(0.0166)
(0.0172)

3.61%​

Breakage Income
(0.0831)
(0.0878)

5.66%​

(0.1011)
(0.1066)

5.44%​

MEMBER OPERATING ASSESSMENT
2.5597
2.8393

10.92%​

Capital Reserves
0.6817
0.5836

-14.39%​

Ad Valorem Taxes
0.9805
1.0743

9.57%​

TOTAL DUES
4.2219
4.4972

6.52%​

I was going to blame the new front desk on the increase, but that cost actually went down. Who knew CR was ripping us off Major drivers are housekeeping and utilities with an offset from Cap reserves. Guess we wern't tipping the maids enough

 

[GoofGoof]

This looked a lot better in Excel. The format got a little weird, but you get the point. I had a typo in the title too. Guess that can't be changed now.

 

[rufio]

Well crap.

 

[captainkidd]

I thought dues were different for each resort. How do you get the 2 numbers on the bottom? is there a list of increases from resort to resort?

 

[Phonedave]

I can verify that SSR is accurate as well

Admin and front desk - $0.4680
Annual Audit - 0.0010
DVC reservations - 0.0059
Fees to Division - 0.0065
Housekeeping - 0.7384
Income Taxes - 0.0205
Insurance - 0.0527
Legal - 0.0001
Maint - 0.4258
Management Fee - 0.3509
Member Activities - 0.1250
Security - 0.0554
Transporatation - 0.5511
Utilities - 0.2580
TOTAL OP EX - $3.0593

Roof Replacement - 0.0250
Interior Refurb - 0.3507
Common Area Refurb - 0.2615
Paving - 0.0358
Exterior Painting - 0.2731
Interest Income - (0.0384)
TOTAL CAPITAL RESERVE - $0.9077

Interest Income - 0.0015
Late Fees and interest - 0.0416
Breakage income - 0.0981
TOTAL INCOME - $0.1412

Estimated Ad Valorem Taxes - $0.9871

Total per point (OP EX + CAPITAL RESERVE + AD VALOREM - INCOME) = $4.8129




-dave

 

[Phonedave]

I thought dues were different for each resort. How do you get the 2 numbers on the bottom? is there a list of increases from resort to resort?

They are different. Since he owns at BLT, he broke down the totals for BLT (As I did for SSR) The two number he has at the bottom are the 2012 and 2013 dues for BLT. I don't have the 2012 breakdown handy, so I just listed the 2013 breakdown for SSR.

-dave

 

[Phonedave]

Well crap.

Makes me glad I own at SSR

-dave

 

[rufio]

Makes me glad I own at SSR

-dave

BLT isn't looking too hot... It'll slow down eventually right? Hopefully it's just cause its so new...

 

[PhilharMagician]

Here is the list of dues increases for 2013:

Housekeeping
0.6534
0.8502

​

30.12% Increase​

​

I was going to blame the new front desk on the increase, but that cost actually went down. Who knew CR was ripping us off Major drivers are housekeeping and utilities with an offset from Cap reserves. Guess we wern't tipping the maids enough

Tipping the maids? 30% is a crazy increase in one year! Did they add on a bunch of rooms? We have stayed there three times and I was shocked at how many housekeepers they have per floor and I always see them BS'ing in the hallway or in the storage room. Housekeeping was very nice and friendly, but certainly not working extremely hard. If they even worked for half the day they would be more productive. The annual maintenance fees are ony supposed to pay for on average 2 cleanings per room per week (1 full and 1 towel/trash) and all subsequent cleanings should be paid for by members who pay for extra service or by cash reservations through CRO. I hope they had a good explaination for why that large of an increase was needed.

 

[PhilharMagician]

Makes me glad I own at SSR

-dave

Yeah I was looking for SSR to increase after all the painting, room remodeling and the redo of the Paddock pool area figuring they would have knocked the hell out of the slush fund with all the work over the past 2 years.

 

[toolsnspools]

BLT isn't looking too hot... It'll slow down eventually right? Hopefully it's just cause its so new...

BLT should slow down with age. (don't we all) Even with another relatively big increase, we're still the lowest rates outside of VGC. I figure BLT rates will increase to the same range as the other Florida resorts, and then the increases will keep pace with the others.

 

[GoofGoof]

Tipping the maids? 30% is a crazy increase in one year! Did they add on a bunch of rooms? We have stayed there three times and I was shocked at how many housekeepers they have per floor and I always see them BS'ing in the hallway or in the storage room. Housekeeping was very nice and friendly, but certainly not working extremely hard. If they even worked for half the day they would be more productive. The annual maintenance fees are ony supposed to pay for on average 2 cleanings per room per week (1 full and 1 towel/trash) and all subsequent cleanings should be paid for by members who pay for extra service or by cash reservations through CRO. I hope they had a good explaination for why that large of an increase was needed.

I hope they address it at the annual meeting. Last years BLT increase was blamed on less cash guests as more points were sold. My completely uneducated theory is that maybe there are more shorter stays than anticipated at BLT. If everyone stays a week then there is 1 major cleaning and a towel drop at mid week. If 3 people stay 2 nights and a person stays 1 night that would require 4 full cleanings in a week. Maybe due to newness and proximity to MK people are using it for add on nights. Just a theory with no real evidence. It's hard to imagine needing a 30% increase in housekeeping. Seems pretty easy to budget to me.

 

[ParentsOf4]

I hope they address it at the annual meeting. Last years BLT increase was blamed on less cash guests as more points were sold. My completely uneducated theory is that maybe there are more shorter stays than anticipated at BLT. If everyone stays a week then there is 1 major cleaning and a towel drop at mid week. If 3 people stay 2 nights and a person stays 1 night that would require 4 full cleanings in a week. Maybe due to newness and proximity to MK people are using it for add on nights. Just a theory with no real evidence. It's hard to imagine needing a 30% increase in housekeeping. Seems pretty easy to budget to me.

Blame me. We stayed at BLT for only 3 days during Thanksgiving.

One of my secret plans to increase resale prices at my Home Resort of BWV is to stay 3 nights or less at all the other DVC resorts in order to drive up their annual Maintenance Fees so my BWV dues don't seem as high.

 

[GoofGoof]

Yup - about +3.27% at the WL Villas. Not at all upset - that's close to the rate of true US inflation.....

Now, for a comparison... anyone want to tackle the DVC due increase vs "real rental rate" (include documented discounts) for Deluxe Hotel rooms? Back of the envelope (no hard data, but I check rack-discount about weekly)... it's a lot more than 3.27% .

A lake view tower room at CR during regular season went from $535 in 2012 to $567 in 2013 which is about a 6% increase. These are the rack rates.

I guess CR has the same maid problems as BLT

 

[GoofGoof]

Blame me. We stayed at BLT for only 3 days during Thanksgiving.

One of my secret plans to increase resale prices at my Home Resort of BWV is to stay 3 nights or less at all the other DVC resorts in order to drive up their annual Maintenance Fees so my BWV dues don't seem as high.

Just for that I'm staying a night at the Boardwalk next year. Actually, that isn't a bad idea.

 

[GoofGoof]

BLT should slow down with age. (don't we all) Even with another relatively big increase, we're still the lowest rates outside of VGC. I figure BLT rates will increase to the same range as the other Florida resorts, and then the increases will keep pace with the others.

I think that will be the case. This will be the first full year with all points sold so it should level out.

 

[GoofGoof]

I thought dues were different for each resort. How do you get the 2 numbers on the bottom? is there a list of increases from resort to resort?

Above is just BLT where I own.

This link has the dues for each resort for 2013. I think a few still need to be updated:
http://dvcnews.com/index.php/dvc-program/financial/2013-resort-budgets

Here's 2012:
http://dvcnews.com/index.php/dvc-program/financial/2012-resort-budgets

 

[GoofGoof]

I can verify that SSR is accurate as well

Admin and front desk - $0.4680
Annual Audit - 0.0010
DVC reservations - 0.0059
Fees to Division - 0.0065
Housekeeping - 0.7384
Income Taxes - 0.0205
Insurance - 0.0527
Legal - 0.0001
Maint - 0.4258
Management Fee - 0.3509
Member Activities - 0.1250
Security - 0.0554
Transporatation - 0.5511
Utilities - 0.2580
TOTAL OP EX - $3.0593

Roof Replacement - 0.0250
Interior Refurb - 0.3507
Common Area Refurb - 0.2615
Paving - 0.0358
Exterior Painting - 0.2731
Interest Income - (0.0384)
TOTAL CAPITAL RESERVE - $0.9077

Interest Income - 0.0015
Late Fees and interest - 0.0416
Breakage income - 0.0981
TOTAL INCOME - $0.1412

Estimated Ad Valorem Taxes - $0.9871

Total per point (OP EX + CAPITAL RESERVE + AD VALOREM - INCOME) = $4.8129




-dave

We are catching up

SSR owners were the big winners this year for sure.

 

[ParentsOf4]

Just for that I'm staying a night at the Boardwalk next year. Actually, that isn't a bad idea.

Staying at BWV for any number of nights is a fantabulous idea because it's simply the most awesome DVC there is!

 

[captainkidd]

All I can say is I'm glad I figured out how to rent points and not overpay. I saw no increase at all this year.