Two Separate Cost Layers — Important to Understand

→ FOA Dues (~$3,250 / month): Your ownership share of operating the property — utilities, shared facility maintenance, insurance, property taxes, reserves, and management. Similar to HOA dues.

→ Board Fee ($1,250/stall/month, barn units only): Paid separately to the FOA operator. Covers all daily horse-care services — feeding, stall cleaning, turnout, and barn maintenance.

These two costs are completely separate. FOA dues = ownership cost. Board fee = service cost.

Purchase Price
$1,250,000

Reserve Contribution at Closing (3%)
$37,500

Monthly FOA Dues
~$3,250 / month

Board Fee — 15 stalls at $1,250/stall/month
$0 - $18,750/month depending on stalls

Total Monthly Operating Cost (fully occupied)
~$22,000/month

Note: Mortgage payments are not included above and will vary based on down payment, loan term, and interest rate. Consult your lender for a complete monthly cost picture.

Electric Meter 1 — 10% share
Water Meter 1 — 20% share
Garbage / Dumpster — 17% share
LCE Group 1 — Indoor & Outdoor Arena + Round Pen #2 (21%)
LCE Group 4 — Storage (20%)
LCE Group 5 — Dedicated Dry Paddocks (34%)
CE Group 6 — Parking, Driveway & Bathrooms (12.5%)
Property Taxes — 1/6 share of Parcel A
Unit-Specific Insurance — Middle Barn
Association Insurance — 1/8 share
Property Management — 15% share
Reserves

Estimated Monthly FOA Dues

~$3,250 / month

Utilities fluctuate depending on the month, so total dues are approximate

RESERVE FUNDING AT CLOSING — 3% OF PURCHASE PRICE

Total Reserve Contribution (3% of sale price)
$37,500

→ Your Unit Improvements (60%)
$22,500

→ LCE Reserve — Arenas, Paddocks (25%)
$9,375

→ CE Reserve — Parking, Driveway (15%)
$5,625

These funds are set aside at closing into dedicated reserve accounts — not lost. They fund future improvements to your unit, or help with deferred maintenance. The shared LCEs you have access to, and the common elements used by all owners. Purchase price fully funds this.

Income Potential — 15 stalls at $600/stall/month

→ Fully occupied monthly lease income: $9,000

→ Annual lease income (potential): $108,000

→ Estimated Annual FOA dues: $38,998

→ Estimated annual net before board fee: $69,002

Note: Board fee ($1,250/stall/month) is paid separately to the FOA operator for horse-care services.

Board Fee: $1,250 per occupied stall per month

• Paid separately to the FOA operator — this is NOT included in your FOA dues

• Each barn has 1 assigned and dedicated staff member who will work with and get to know your horses. Details won’t go unnoticed because of the care and consistency provided.

• Covers feed, shavings and all daily horse-care services listed below:

Feed & Water → 3 times per day (water included in FOA dues, FOA operator provides hay included in the board)

Clean & Pick Stalls / Sweep Aisles →2 times per day

Turnout to Paddocks → 5 days/week (Mon–Fri) — weekends & holidays not included

Water Bucket Cleaning → 2x/week scrub, 3x/week water change

Pick Paddocks → Daily

Empty Muck Buckets & Garbage → Daily, all barns

Stall Maintenance → Shavings provided by FOA operator included in board. Other maintenance as needed (nails, boards, doors, etc.)

Rake & Clean Around Barn → Weekly

Cobweb Control → Quarterly

SAMPLE DAILY STAFF SCHEDULE

6:30 AM | Feed & water all horses

7:00 AM | Begin cleaning and picking stalls

8:00 AM | 1st turnout group to paddocks

9:30 – 10:00 AM | Staff break

10:00 – 11:00 AM | Barn projects, maintenance, water bucket changes (Mon & Thu)

11:30 AM | 2nd feed, pick stalls, 2nd turnout group

12:00 – 12:30 PM | Sweep aisles

12:30 – 2:30 PM | Lunch break

2:30 PM | Pick stalls — 3rd turn begins

4:00 PM | Bring horses in from paddocks

4:30 PM | Feed, water, sweep

9:00 PM | Night check — walk-through, check horses and water

• Large Outdoor Arena

• Large Indoor Arena

• Round Pen

• Storage

• Lounge Access

• 7 paddocks allocated exclusively to Unit 2

Please reach out for more information on paddock and arena time scheduling processes