Royal Park Place is determined to help you create a fulfilling retirement experience. We want to make sure we meet — or even exceed! — your expectations, so please let us know about anything you need.
If you are buying
Club Membership Fees — Part of the benefit of owning your condominium is the beautiful community center available to all club members, and our condominium bylaws require present and future co-owners to become members of the Royal Park Place Club. The cost of this community center could have been added to the purchase price of the individual condominium units, but we decided to keep it separate so that property taxes could continue to be based on the individual condominium only. The cost of a life-time club membership fee is $7,800. However, in no event may the club transfer fee exceed a sum equal to 12% of the condominium purchase price, and the club membership fee will be reduced in those cases.
The membership fee is non-transferable, but the membership benefit can be transferred to tenants who lease for a term of less than three years. Tenants with a term of three years or more are required to become a member of Royal Park Place by paying the membership fee of $7,800. Royal Park Place retains ownership of the community center, including all responsibility and liability, while your club membership gives you use of the facilities, staff, and programs offered in the community center.
Transfer Fees — To provide for additional funds for the payment of operating expenses, for the sustainment of a healthy reserve fund that provides for capital expenditures involved with maintaining the common elements and community center, and for the compensation to Park Place Realty Group for services and costs related to marketing, purchasers are required to pay a condominium transfer fee that equals 15% of the condominium purchase price. This allows our residents relief from many responsibilities of property management and confidence the property will be well maintained on their behalf.
If you are leasing
At any given time, approximately two-thirds of the Royal Park Place Units are being leased. Tenants do not pay to purchase the unit. In addition, they are not required to pay the Transfer Fees; and, for those whose lease agreements are less than three years, they are not required to pay the Club Membership Fee. Instead, they are charged a recurring monthly rent amount ranging from $600 to $1,000 (depending on the size of the unit). Lease Agreements may be one year, two years, or just under three years in length.
Monthly Service Fee — All residents (owners and leasers) benefit from outstanding service and amenities. Our staff is responsible to manage the community center and common areas, to prepare delicious meals, and to provide life enrichment opportunities. All residents (owners and leasers) pay a Monthly Service Fee that covers the following:
- 25 noon meals per month (additional meals are available for purchase)
- Utilities (water/sewer, electric, gas heat)
- Exterior building maintenance (garbage collection, snow removal, grounds maintenance)
- Laundry facilities
- Fire system maintenance
- Community-wide wifi
- 24-hour emergency call system
- Office Staff
- Evening/Weekend/Overnight Staff
- Social and Recreational Activities
- Senior Fitness Trainers
- Scheduled Bus Transportation
- Cleaning and Maintenance of Community Center
- Mortgage, Insurance, and Property Taxes of Community Center
- Pool Table and Exercise Equipment
- Guest Room Availability
- Annual Membership to Evergreen Commons (upon request)
Monthly Service Fees range from $988 to $1,095 per month. If two residents are in one unit, the cost of the second meal plan is added at $260 per month.
The Royal Park Place Condominium Association bylaws state, “No residents shall use their units in any manner which will interfere with or impair the rights of any other resident in the use and enjoyment of his or her unit or the common elements.” Consequently, no pets are allowed, and Royal Park Place is a smoke-free environment.
Information updated June 2014