The Shaker Club

What is included in the maintenance fee?

The monthly maintenance fee is comprised of three parts; 1) Operating Expense, 2) Utilities, and 3) Capital Reserve Fund (CRF).

The Operating Expense portion is the amount that goes toward your percentage of the general, ongoing upkeep of the building.  This includes everything from landscaping and snow plowing, to garage and cleaning staff, to lightbulbs and paint.  

The Utilities portion covers the allocation of the overall water, sewer, gas, and electrical consumption.  Owners do not pay for any utilities except for their phone, cable and Internet if they choose to have them.  

The Capital Reserve Fund (CRF) was established to enable us to fund long term for major repairs and improvements to The Shaker Club.  By carefully planning major expenses and funding them out of the CRF fund, The Shaker Club is able to avoid the need for special assessments.  In fact, the only special assessment we have had in the past 10 years was a six-month utility surcharge when gas prices spiked during the Iraq war.

Owners pay the same fixed amount each month, as determined at the beginning of each calendar year based on the condominium's budget for that year. A note about the percentage: the maintenance fee is determined by taking the square footage of each unit as a percent of the total square footage of all the units, as determined in the Decs & Bylaws. The same percentage is also used to determine voting rights during the annual meeting for the election of Board members, or when voting on amendments to the Decs & Bylaws.  The fee for a particular unit, in 2011, can be approximated by using a rate of approximately $0.65-$0.70 per square foot.