Questions, Answers, & Blogs
Why is Friday, Saturday and Sunday $20.00 more than the other days?
Answer: Just as everyone would like to take a weekend off to go to the shore, a weekend where they do not have to use their vacation time from work to do so, I am in the same position. I request the extra $20.00 on those days to compensate me to give up those days for me to enjoy the weekend at the condo.
Why the term "Contribution" is used over the term "Payment".
Saturday, June 16, 2023.
After having and enjoying this place for 3 full years, I decided to open up my place for rental among friends and family members to enjoy their time at the shore, as they desire. Before doing this, a couple of things need to be arranged for the task. Obtaining a Mercantile License from the City of Wildwood was one thing that was required of me to rent. The second major item for me to rent was to contact my home insurance agent to review my policy and update it for rental purposes. It was told to me that if I wanted to rent, I would have to rent through companies such as Airbnb and Vrbo where these companies would provide their own rental insurance. Anything else after that my insurance company would pick up. This is how most insurance companies in the area operate.
In the discussion with the insurance agent, I told her that I was not, and did not want, to rent out my unit to the public sector. I only wanted to rent my unit out to friends and family only. With this new information, my agent went back to review the matter as it did not appear that I would then not be required to do anything more with my insurance, at least not on the company's end. She did perform a little more research on this matter, which included contacting the City of Wildwood Municipal building staff to review the matter as well. The answer came back that as long as there would be no signed contract between the two parties involved (between me and anyone would be renting the unit), then no extra rental insurance would be needed as normally required by the City of Wildwood. The Mercantile License also would not be required by the City of Wildwood under these circumstances. If someone were to "rent" under this condition - that is, no signed contract between the parties, and the "renter(s)" only give money for their stay, then everything is fine on both ends: the insurance company and the City of Wildwood.
A Mercantile License was still purchased as required by the condo board.
When asked by the insurance agent whether I had would be using a signed contact between the me and the parties that would be occupying the unit, the answer was, "No, and there would not even be so much as a handshake over the matter."
From this, the decision was made to call any occupancy monies give as a contribution rather than as a payment or cost.
What does the contributions generally cover?
In case anyone is curious of the cost of operation of a unit such as this one, and the cost of rental, I have included this in this section.
Contributions received will help to cover these operational expenses. A calculated percentage for a day of use.
Condo Fee $9.28 /day (calculated)
Electric $4.96 /day (calculated from average of previous season)
Water $4.00 /day (projected statistical cost)
(supplied for drinking and cooking)
Internet Service (Private) $1.85 /day
Season Rental Set-Up $3.78 /day (calculated average cost over the entire summer season)
Linen Cleaning $4.20 /day (projected cost, based on past history )
Operational Service $6.19 /day (projected cost based on past history)
Property Taxes $4.67 /day (calculated)
Other Taxes $2.52 /day (calculated)
Total $41.45 /day
*** Some underling operational cost have not been included in the calculation.