Buying a home and becoming a member of a country club presents an exciting opportunity to step into a world of luxury. While most memberships have clearly defined initiation fees and annual dues, many of those new to the country club lifestyle may be unaware of the hefty, and potentially hidden, costs that could be levied through member assessments.
What Exactly Are Member Assessments
A member assessment is an additional fee that a country club may impose for expenses that go beyond their normal operating budget. These fees could fund anything from unexpected projects and repairs to purchases and capital improvements.
Here are some common situations where special assessments may be imposed:
- Upgrades or Renovations: From time to time, a country club may undertake a large project such as renovating a clubhouse, updating its golf course, expanding facilities, or building new amenities. To cover the additional cost, a special assessment fee can be charged to members, leaving members responsible.
- Disaster and Emergency Repairs: Florida is no stranger to extreme climate events and hurricanes. If a major, unexpected issue arises, such as damage from a natural disaster, a flood, or a fire within the clubhouse, members could be asked to contribute additional fees for repairs or replacements.
- Equipment Purchases or Replacements: This could include purchasing new golf carts, updating gym equipment, or replacing old and outdated infrastructure.
Do All Private Clubs Charge Member Assessments?
Many clubs do charge member assessments, but savvy homebuyers and membership seekers know that not all clubs are created equal. When selecting a golf community, it is important to look at the language in the membership contract, research the management team, evaluate the condition of the facilities, and review the club’s fiscal responsibility before signing on the dotted line.
The Tesoro Club Difference: No Member Assessments
At Tesoro Club, we take pride in our stance on no special membership assessments. Tesoro Club is privately owned and managed by a team that has a long history of developing best-in-class golf communities. The ownership group invests its own capital into the improvements and the development of the property, and does not rely on additional contributions from its members.
Our experience in club operations and management allows us to keep our facilities in top condition, with regularly scheduled updates and no deferred maintenance. That means our members only need to focus on what truly matters: playing a round of golf on the Palmer Course or swimming in our junior Olympic-size pool at the Swim & Racquet Club.
While Tesoro Club looks to the future of its growth and development, members will not be assessed for upcoming improvements to the clubhouse and its other amenities, including renovations to the Watson Course. Members will reap the benefits of Tesoro’s million-dollar projects without worrying about the cost.
Enjoy less spending – and more living – at Tesoro Club!
Call 772-345-4000 to learn more or browse the links below.
Memberships: tesoroclub.com/golf-courses/membership-information/
Real Estate: tesoroclub.com/listings/
