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Typical Costs of ownership
Unit Price: The Association has no role in setting the price. That will be reflected in the negotiation between the buyer and seller. Size, interior configuration and amenities vary.
Capital Contribution: A contribution of $1000 per unit is payable
to the Association on all sales. We recommend that the closing official be
instructed to include the contribution on the settlement sheet. Mail a check
to M-72 RSCA, P.O. Box 6611, Traverse City 49696.
Annual Assessment: An annual assessment of $700 is due January 1 of each
calendar year. Since the Association is self managed, co-owners may not receive a reminder or invoice so place a reminder on your calendar. There is
a late payment fee.
Taxes: Co-owners pay summer and winter taxes to Long Lake Township. The
annual amount varies but is usually less than $1000.
Utilities: All units have the following basic utilities. Most units have some interior modifications.
- Electric : The Association bills each co-owner for electric
service used by the unit for the previous 12 months annually in July. The co-owner always has the
option to pre-pay for electric service. Payment is due upon receipt of an
invoice. There is a late payment fee.
- Phone: All units are pre-wired for a landline. Contact your local
provider for more information regarding installation of phone or security service/alarm.
- Heat: Most units come with
ceiling propane heaters. Propane is provided by Tri-Gas
of Traverse City.
Contact the provider for information regarding creating an account and or installation of a ceiling heater. Some space heaters are a potential fire hazard and must be approved by the Association.
- Water and Septic: Water and septic service are provided to each unit by the Association. Cost for this service is included in the annual assessment.