Shelter Bay bills for the following items:
Water Usage + State and Tribal taxes
Water Base Rate + State and Tribal taxes
Sewer Base Rate + State and Tribal taxes
HOA Monthly Assessment (covers day to day operations of the community)
HOA Capital Assessment (capital reserve funding for capital expenditures)
Supplemental Rent Assessment (fixed rate that adjusts every 10 years)
Lease Admin Fee (provides funding for professional fees and shortfalls in Lease payments)
Changes to the HOA fees are approved annually by the Shelter Bay Board and are then provided to the Community for review and approval in the annual budget.
Your lease rent is paid in two parts. There is a monthly amount called “supplemental rent” charged by the Community and an annual fee billed by the Shelter Bay Company. These are adjusted every 10 years according to the Master Lease agreement. The next adjustment will be in 2033.