Anderson Ocean Club HOA Risk Assessment: Program-leaning

02 The five questions

What the documents decide
before your first guest books.

Five dots is the best answer for an owner who wants to run the unit themselves. One dot is a red flag. Open “What the documents say” under each for the exact words.

Can you rent it your way?

Caution

Whether the deed and rules let you rent short-term on your own terms: no requirement to use the on-site program, no minimum stay that kills weekend bookings, and no rule against saying where the condo is.

Owners may rent and may use any insured manager, and the deed states no minimum stay or owner-use cap (though the Rules and Regulations are not in this set), but it bans dispensing keys or lock boxes and booking from the unit, fixes a centralized electronic lock, requires every occupant to check in at the Developer-owned registration desk on unstated terms and reserves advertising rules to the Developer.

Short-term rentalsAllowed

Must use on-site programNo

Owner may rent it personallyYes

Off-site manager allowedYes

Owner-use limitsunstated -- no minimum stay, owner-use cap or blackout rule appears in the Master Deed or amendments; the Rules and Regulations (other than the pet policy) are not in this set

RegistrationEvery person occupying any unit must check in at the registration desk upon arrival (Master Deed Art. VII(a)); the registration desk/lobby is Commercial Unit CU-1, owned by the Developer affiliate. Any cleaner or other service provider acting for an owner must check in at the registration desk before performing service or entering a unit (Art. XIV). Rental management companies must furnish proof of $1M/$2M general liability plus $5M umbrella (Association as additional insured) before commencing operations; the Association 'may increase the policy amount requirements' to higher amounts consistent with market practice (Art. XV). No owner registration of the unit with the Association or a rental licence is mentioned.

Advertising rules'Anderson Ocean Club' is a service mark owned by the Developer; owners may use the name of the Association in describing their unit, but the mark owner reserves the right to impose rules on advertising of units for rent by owners and rental managers to prevent misleading claims about inventory size or guest services (Art. VII). No 'For Sale', 'For Rent' or other signs or banners visible from the exterior (Art. XIX). CU-1 holds an exclusive advertising easement over corridors, elevators, exterior, parking and other common elements (Art. IV(G), Exhibit B). No specific disclaimer wording or photo rules are stated.

Vote to change rental rulesArticle XIV (residential use / owner rental / commercial-activity restrictions) may be amended only with the express written consent of the owner of Commercial Unit CU-1 (Art. XXIX), and the restriction on commercial activities 'may not be amended without the unanimous vote of all UNIT OWNERS' (Art. XIV). General Master Deed amendments need 67% of the undivided interest (Art. XXIX); By-Laws need 67% of total votes (By-Laws Art. VI Sec. 6).

What the documents say (12)

“Notwithstanding the foregoing, an OWNER may rent his or her UNIT so long as he or she does not use the UNIT or any part of the COMMON ELEMENTS to engage in the business of renting, including without limitation to dispense keys of any nature including keys to lock boxes, to book rentals, or to otherwise act as the office for renting the UNIT itself or for renting or providing cleaning or other services for the UNIT or any other property, which conduct is expressly prohibited.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XIV, pages 13-14 (restated verbatim in Second Amendment, page 2)

“Provided however, nothing herein shall be construed as limiting the right of any OWNER of any UNIT from renting or leasing his, her, their or its UNIT, subject to all terms and conditions of this Master Deed, or from owning a unit as joint tenants, tenants-in-common, or through a legal entity.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XIV, page 14

“The ASSOCIATION is not intended to and shall not become involved in the business or practice of rental management of Residential UNITS.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article I Section 4, page 63

“The Property is hereby further restricted such that any and all rental management companies providing services to any UNIT OWNERS at Anderson Ocean Club Horizontal Property Regime shall maintain the following amounts of insurance: General liability coverage in an amount of not less than $1,000,000.00 per occurrence with an aggregate of $2,000,000.00 and an umbrella policy of not less than $5,000,000.00 (provided that such coverage is available at standard rates from a licensed insurer within the State of South Carolina), with the ASSOCIATION named as an additional insured on all such policies. Proof of such coverage shall be furnished to the ASSOCIATION prior to the commencement of operations within the Regime.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XV, page 15

“GRANTOR further discloses that in the case of OWNERS that desire to rent Residential UNITS they own, the owner of the Mark, its successors or assigns, retain rights to impose reasonable rules and regulations concerning the advertisement of UNITS for rent by OWNERS and rental managers to prevent use of the name in a manner that is misleading to the general public as to the size of inventory of UNITS that is being offered or as to the types of guest services that are available in connection with the rental.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article VII, page 11

“Further, no OWNER, or his agent, may place any signs or banners upon the COMMON ELEMENTS, or within his UNIT or the LIMITED COMMON ELEMENTS so as to be visible from the exterior of the UNIT, including, without limitation "For Sale", "For Rent" or other advertising signs.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XIX, page 18

“The foregoing restriction on commercial activities may not be amended without the unanimous vote of all UNIT OWNERS.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XIV, page 14

“iii) any amendment of Article XIV, which may be amended only with the express written consent of the OWNER of Commercial UNIT CU-1; iv) any amendment of Article XXXII, which may be amended only with the express written consent of the OWNER of Commercial UNIT CU-1;”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIX, page 31

“NOW, THEREFORE, pursuant to the terms and conditions of the aforesaid Master Deed, the Association herein and hereby amends the said Master Deed and related documents as set out herein for the purpose of allowing the deeded interval ownership or timesharing of Units within the Regime, as more particularly provided hereinabove, as follows:”Second Amendment to Master Deed (2010), page 1

“Should the OWNER of any UNIT submit a UNIT to a plan of interval ownership or any form of timesharing, the plan, lease or deed creating such interval ownership or timesharing shall create an association of timeshare owners. The association of timeshare unit owners shall be directly responsible to the ASSOCIATION for that UNIT's pro rata share of the common expense, and in that regard, shall be considered as the OWNER of the UNIT for the purposes of assessments and voting rights.”Second Amendment to Master Deed (2010), paragraph 2, page 3

“All residential and commercial units fund the budget in accordance with the statutory values in the Master Deed. Rental companies do not pay funds into the HOA nor are rental expenses funded by the HOA.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), March 3, 2023 annual meeting minutes, Old and New Business, page 8

“The ASSOCIATION may increase the policy amount requirements set forth above to such higher amounts as are reasonable and consistent with market practices for similar operations.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XV, page 15

Will your guests be treated like guests?

Typical

Whether a guest who booked through you gets the same resort as a guest who booked through the front desk: the same pools, parking, wristbands and check-in, or a second-class version of them.

Off-program guests get the same pool decks and common elements by easement and must check in at a front desk, but the pool decks can be closed up to 12 hours for resort functions, the fitness room depends on a Developer lease whose current term is unstated, spa and salon are commercial businesses, and wristband and desk terms for non-program guests are unstated.

Amenities for your guestsMost, not all

Off limits to your guestsFitness room is Developer-owned Commercial Unit CU-4, not a Common Element; it is available to owners and guests only because the Association leases it from the Developer (since July 1, 2010, about $16,000/yr). The lease auto-renewed in 2021 for five years to June 2025; 2025 rent was still ~$16,000 and the 2026 budget carries $16,000, but the renewed term is not stated. Salon (CU-6) and spa (CU-7) are commercial businesses, not Association amenities., Indoor/outdoor pool decks and sun decks are Limited Common Elements of CU-1; owners and guests hold an easement but may be excluded for up to 12 consecutive hours at a time for CU-1 'resort functions' with posted notice, Service chutes (trash/linen) are for the exclusive use of CU-1; on-premises storage closets and service chases are for the exclusive use of CU-5, The indoor pool enclosure is seasonal: $4,750 (2023) to $10,109 (2025) a year is spent 'for disassembling, storing and reinstalment of the pool enclosure' (2024 Minutes packet p. 7 and P&L p. 13; 2026 Minutes packet P&L p. 12).

Wristbands & parking passesPool wristbands are an Association expense ($10,000 budgeted in 2026; $7,054 actual 2025); who issues them to off-program guests and any charge is unstated. Parking: ground-floor spaces under the tower are Limited Common Elements of CU-1, which may designate them short-term only and tow violators; all remaining garage spaces are controlled by the Association and may be designated temporary/short-term. The budget shows a $15,000 'Parking Deck Allocation' revenue line. No per-guest parking pass rules or fees are stated.

Check-inRegistration desk: 'all persons occupying any UNIT shall check in at the registration desk upon arrival' (Art. VII(a)). The lobby/front desk is Commercial Unit CU-1, owned by the Developer affiliate and expressly permitted to run 'reservations, key pick up and drop off, front desk, concierge' (Art. XXXVI.B). Whether and on what terms it serves off-program owners' guests is unstated.

TrashThe Association maintains the trash and linen chutes (Art. XXII), but the service chutes are Limited Common Elements 'for the exclusive use and benefit of COMMERCIAL UNIT CU-1' (Art. IV(D)) and the trash rooms/closets on each floor are part of CU-5. Budget carries $100,000 trash removal expense offset by $55,000 'Trash Removal Fees' revenue (an 'A/R Trash Rebilled' account exists); who is rebilled and how off-program owners dispose of guest trash is unstated.

ElevatorsStairs and elevators are Common Elements accessed from the Ground Floor (Exhibit B). No service-elevator or move-in rules are stated. Elevator contract $50,000 plus $26,000 uncontracted repairs budgeted 2026; 2025 owners asked about elevator upgrades and refurbishing elevator doors. Elevator costs are volatile: 2024 uncontracted repairs ran $48,755 against a $5,000 budget (total elevator maintenance $98,335 in 2024, $65,502 in 2025), and the 2025 budget raised the contract line to $60,000 (2026 Minutes packet, P&L p. 12, audited statement p. 32, 2025 budget p. 19; 2024 Budget p. 1).

Housekeeping & linenDaily or weekly maid service by independent contractors acting for owners is permitted, but only the owner of CU-5 may use the on-premises storage closets and service chases, and every cleaner must check in at the registration desk before entering any unit (Art. XIV). Rental management companies must post an in-unit placard naming whom to contact for cleanliness and linen service (Art. XV). Linen chutes are maintained by the Association but service chutes are exclusive to CU-1.

What the documents say (12)

“An OWNER shall be deemed to have delegated to any guest, renter, invitee and licensees of the OWNER's UNIT the right of enjoyment of the COMMON ELEMENTS for the period of time of such occupation, rental, invitation or license. OWNERS and such persons using the COMMON ELEMENTS by such delegation shall be subject to the same rules and regulations as may from time to time be imposed by the ASSOCIATION, and all persons occupying any UNIT shall check in at the registration desk upon arrival;”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article VII(a), page 10

“(F) All indoor and outdoor pool decks and sun decks which are hereby designated as LIMITED COMMON ELEMENTS appurtenant to UNIT CU-1, however, the Owner of each UNIT, their family members, guests, invitees, and licensees shall have an easement over all such indoor and outdoor pool decks and sun decks for the use and enjoyment thereof, except during limited periods, not to exceed twelve (12) consecutive hours during which other UNIT Owners may be excluded by the Owner of UNIT CU-1 for resort functions.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article IV, page 8

“Commercial UNIT CU-1 consists of all areas indicated as such on the Plans, including without limitation the lobby, offices, and front desk area located on the Ground Floor.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit B, page 47

“Commercial UNIT CU-4 consists of all areas indicated as such on the Plans, including without limitation the fitness area located on the South side of the Third Floor.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit B, page 47

“Commercial UNIT CU-5 consists of all areas indicated as such on the Plans, including without limitation the vending areas, trash, maids closets, house closets located on the Ground through Twenty-Second floors”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit B, page 47

“(D) service chutes, which shall be for the exclusive use and benefit of COMMERCIAL UNIT CU-1; (E) telephone, cable and internet lines, which shall be for the exclusive use and benefit of COMMERCIAL UNIT CU-1;”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article IV, page 8

“However, nothing herein shall be construed to limit the rights of the OWNER(S) of the Commercial UNITS to make any residential, commercial or business use of such UNIT, the LIMITED COMMON ELEMENTS appurtenant thereto, or any easement areas reserved to such OWNER in this Master Deed, including, without limitation, the ability of the OWNER of Commercial UNIT CU-1 to play live and/or recorded music on all indoor and outdoor pool decks and sun decks between the hours of 9:00 a.m to 1:00 a.m., which is hereby granted.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XVI, page 16

“subject to the right of the OWNER of UNIT CU-1 to designate the parking spaces for short term parking only and to enforce same by towing of vehicles violating such designation. All remaining parking spaces (located within the Parking Garage) shall be controlled by the Association and may from time to time be designated as temporary or short term parking.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit B, page 48

“4513 - Pool Wristband Expenses 10,000.00”2026 Budget (P&L Budget Overview), page 2

“During the years ended December 31, 2025 and 2024, the Developer leased space to the Association for the use of an exercise room. The lease began on July 1, 2010. During the years ended December 31, 2025 and 2024, rentals under the long-term lease obligations were approximately $16,000.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“During 2021 the lease automatically renewed for five (5) years and is now set to expire in June 2025.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), Audited financials Note 11, page 39

“The budget includes for staffing 24-hours (3 eight-hour shifts) coverage with one LP person on all the time.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), March 3, 2023 annual meeting minutes, page 8

How much work lands on you?

Typical

What the rules make the owner personally responsible for: a local contact who answers in minutes, keys and passes, trash, fines for guest behaviour, vendor hours and elevators.

No response-time rule or local-contact mandate and no self-haul trash rule, but cleaners and vendors must register at the desk, closets/chases and service chutes are reserved to commercial units, locks cannot be changed, and the owner must file insurance, allow monthly pest entry and absorb occupant fines.

Local contactNo local-contact requirement is imposed on owners. Rental management companies must prominently display an in-unit placard with their name, address, phone and the contact for maintenance, cleanliness and linen issues (Art. XV).

Locks & keysEntry doors carry a centralized electronic lock that is a Limited Common Element; no owner may remove it or add any lock without prior written Association consent (which may be denied for any reason); violation carries a $100 penalty plus the cost of removal and reinstallation after 5 days' notice, assessed as a lien (Art. XVII). Owners may not dispense keys of any nature, including lock-box keys, from the unit or Common Elements (Art. XIV). 'Locking Devices Maintenance' ($3,000) is part of the bulk service contract with the Developer affiliate. How an off-program owner obtains guest key cards is unstated.

FinesBoard may impose reasonable fines (a lien on the unit) and suspend voting and common-element use after 10-day written notice and an optional hearing; fines are first assessed against the occupant and shift to the owner if unpaid (By-Laws Art. III Sec. 22). Owners are liable for damage caused by guests or lessees not covered by Association insurance and for any resulting insurance-rate increase (Art. XXX.B). Unauthorized alterations must be removed within 3 days or the Association removes them at the owner's cost (Art. XIX). Association may tow and may enforce by self-help or suit with attorney's fees (By-Laws Art. III Sec. 22(d)). Late assessments: late fee after 20 days, interest at the SC judgment rate, acceleration of the annual assessment, foreclosure, and the Association is entitled to the unit's rental proceeds from the delinquency date (Art. XXVII).

Contractors & vendorsAny person providing cleaning or other service at an owner's request must check in at the registration desk before performing any service or entering any unit (Art. XIV). Only CU-5's owner may use on-premises storage closets and service chases. Rental management companies need $1M/$2M GL plus $5M umbrella with the Association as additional insured, and the Association may raise those minimums (Art. XV). All contractors/vendors serving the Association must keep liability and workers' compensation evidence on file (Art. XXIV). Electrical or structural modifications require written consent of the Association (and Grantor while it owns a unit) (Art. XIX).

AlsoOwner must insure contents and provide a current certificate of coverage to the Association (Art. XXIII). Association may enter monthly for pest control spraying inside units (Art. XVIII) and may enter in emergencies (Art. XVII). Owner maintains in-unit HVAC (incl. condenser), appliances, window glass, sliding glass doors, interior surfaces and fixtures (Art. IV, XXI). Window treatments must have a white backing; balconies may hold only patio furniture, no storage, no enclosure, no antennas or satellite dishes, no clotheslines/awnings/shutters (Art. XIX). No trailers, campers, boats or inoperable vehicles without Board consent (Art. XV). Nuisance/noise restrictions (Art. XVI). Binding arbitration and jury waiver for disputes under the Master Deed (Art. XXXVIII-XXXIX). On resale, the grantee is jointly and severally liable with the seller for assessments unpaid at conveyance, and the Association must furnish a payment-status statement to a proposed purchaser on the owner's written request (Art. XXVII.L).

What the documents say (11)

“No OWNER may remove said lock or install other locks to prevent access to any UNIT, without the prior written consent of the ASSOCIATION. An OWNER that desires to remove said lock or install other locks shall first submit a written request for approval to the ASSOCIATION, which request shall include information and pictures regarding the lock proposed to be installed.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XVII, page 16

“If an OWNER removes the electronic lock or installs additional locks without written consent of the ASSOCIATION, the ASSOCIATION may assess a penalty of $100.00 against said OWNER and UNIT. Additionally, after five (5) days notice to the OWNER, the ASSOCIATION shall have the right to remove any such locks and re-install an electronic lock, and the costs of such removal and/or installation, including replacement of the electronic lock and the door if necessary or convenient, shall be assessed against the OWNER of said UNIT.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XVII, page 17

“Daily or weekly maid service is permitted by independent contractors acting for one or more UNIT OWNERS, but only the OWNER of Commercial UNIT CU-5 shall be entitled to use the on premises storage closets and service chases. Any person or entity providing cleaning service or any other type of service at the request of a UNIT OWNER shall check in at the registration desk before performing any service or entering any UNIT.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XIV, page 14

“Additionally, any and all rental management companies providing services to UNIT OWNERS shall prominently display a placard or other similar materials within each UNIT on their rental program, identifying the name, address, phone number and other contact information for such rental management company and specifically whom to contact for issues regarding the maintenance or cleanliness of the UNIT and/or linen service.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XV, page 15

“In the event that any occupant of a UNIT violates the Master Deed, By-Laws, or a rule or regulation and a fine is imposed, the fine shall first be assessed against the occupant; provided, however, if the fine is not paid by the occupant within the time period set by the Board, the Owner shall pay the fine upon notice from the ASSOCIATION.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article III Section 22, page 75

“The OWNER or OWNERS of each UNIT shall be liable for the expense of any maintenance, repair or replacement rendered necessary by his or their act, neglect or carelessness, or by that of any MEMBER of his or their family, or his or their guests, employees, agents or lessees, but only to the extent that such expense is not met by the proceeds of insurance carried by the ASSOCIATION.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXX.B, page 33

“A current certificate evidencing such coverage shall be provided to the ASSOCIATION.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIII, page 21

“In that regard, ASSOCIATION, or its designated contractor may perform monthly service for pest control which may include spraying within each UNIT and each Owner of a UNIT is hereby so notified.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XVIII, page 17

“In the event any assessment, installment, or accelerated installment is not paid within twenty (20) days after its due date, the ASSOCIATION, through its Board of Directors, may proceed to enforce and collect the assessment against the UNIT OWNER owing the same in any manner provided for by the Act, including the rights of foreclosure and sale.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXVII.G, page 28

“The lien granted to the ASSOCIATION may be foreclosed in the same manner as mortgages may be foreclosed in the State of South Carolina, and in any suit for the foreclosure of said lien, the ASSOCIATION shall be entitled to rental proceeds of any UNIT from the date on which the payment of any assessment or installment thereof became delinquent and shall be entitled to the appointment of a Receiver for said UNIT.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXVII.J, page 29

“In any voluntary conveyance of a UNIT, the grantee shall be jointly and severally liable with the grantor for all unpaid assessments against grantor made prior to the time of such voluntary conveyance, without prejudice to the rights of the grantee to recover from the grantor the amounts paid by the grantee therefor.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXVII.L, page 30

Is the money healthy?

Typical

Whether the association can pay for the building without surprise bills: reserves, special assessments, insurance deductibles, how fast dues are rising, and how much of the fee passes through to a master association.

Dues rise about 4-5%/yr, inclusions are strong, financials are audited and there has been no capital special assessment, offset by an insurance special assessment that swings $755K-$1.1M a year (22% of budget), a $288K operating-fund deficiency in 2025, net reserve growth of only $113K to $2.43M (budgeted General Reserves 13.5% of budget, below the 15% mark), the auditor's missing-reserve-disclosure flag and heavy related-party contracts.

2026 budget$3,912,397

Dues change+4.0% on the year

Reserves14% of budget

Reserve balance$2,432,887

Reserve studyOn file

Special assessments2026 $875,000 budgeted ($3,584/yr, about $299/mo, for a 0.4096% unit) Annual 'Insurance Revenue Assessment' levied separately from regular dues by design; audit calls it 'Special assessments - insurance'; 2025 $866,153 actual ($1,276,800 budgeted) Annual insurance assessment; 2024 $1,017,727 actual ($1,276,800 budgeted) Annual insurance assessment; 2023 $1,098,731 actual ($843,000 budgeted) Annual insurance assessment; 2022 $755,023 actual Annual insurance assessment

InsuranceProperty insurance is funded by a separate annual insurance assessment, not regular dues: actual insurance expense $698,663 (2022), $923,986 (2023), $1,019,348 (2024), $892,452 (2025); 2026 budget $875,000 (22.4% of total budget). An Affiliate of the Developer provides the insurance services (approx. $1,033,000 in 2023, $952,000 in 2024, $803,000 in 2025). Master Deed requires casualty coverage of at least 80% of replacement value incl. windstorm, wind-driven rain and flood 'if available', with the Board as Insurance Trustee; owners must carry their own contents insurance and file a certificate. A 2025 'Valet Drive thru' loss (date of loss 06/15/25) produced a $25,000 insurance-claim expense and a $70,951 insurance receivable. Earlier casualty history: 'Hurricane IAN' repairs $4,523 in 2023 and insurance-claim damage repairs of $7,408 in 2022 (2024 Minutes packet, P&L p. 13; audited statement p. 34). Uninsured cash: balances at one bank exceeded the FDIC limit by about $1,526,014 (2025), $2,048,000 (2024), $1,933,000 (2023) and $1,670,000 (2022) (Audit Note 4 in both packets).

Wind deductibleunstated (no property/wind declarations in this set). Master Deed Art. XXI makes the owner pay the deductible portion of any insured loss to owner-maintained items; Art. XXIV requires the Association to cover any insurance shortfall from the Reserve Fund for Replacements or by an assessment against all owners, and reconstruction is mandatory unless two-thirds or more of the property is destroyed. The 2025 P&L carries a $25,000 insurance-claim expense (Valet Drive, date of loss 06/15/25) and a $70,951 insurance receivable.

FloodNFIP RCBAP through Homesite Insurance Company (agency: USI Insurance Services LLC), term 05/31/2025-05/31/2026, building coverage $65,209,000 on 304 units with a $25,000 figure shown in the deductible column, no contents coverage, flood zone AE, elevated on piles with enclosure, first-floor height 6.3 ft, 0 prior NFIP claims, total annual premium $27,669 (adjusted $27,369 after an 08/21/2025 endorsement). First mortgagee listed: Western Alliance Bank.

DelinquencyLow: homeowner A/R $2,733 at Dec 31, 2025 ($12,088 at Dec 31, 2024; $8,565 at Dec 31, 2023); all receivables considered collectible, no allowance; net bad debt $76 (2025), $117 (2024), $399 (2023). Policy is to retain counsel and lien units 90+ days delinquent; monthly installments are delinquent on the 15th; late fee after 20 days, interest at SC judgment rate, acceleration and foreclosure available.

What the documents say (35)

“3001 - Regular Assessments 2,891,396.56”2026 Budget (P&L Budget Overview), page 1

“3004 - Insurance Revenue Assessment 875,000.00”2026 Budget (P&L Budget Overview), page 1

“Total Income 3,912,396.56”2026 Budget (P&L Budget Overview), page 1

“4307 - Insurance 875,000.00”2026 Budget (P&L Budget Overview), page 1

“4502 - General Reserves 529,723.26”2026 Budget (P&L Budget Overview), page 2

“4503 - Capital Projects 500,000.00”2026 Budget (P&L Budget Overview), page 2

“3001 - Regular Assessments 2,780,189.00”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), 2025 Profit & Loss Budget Overview, page 19

“Total Income 4,214,989.00”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), 2025 Profit & Loss Budget Overview, page 19

“3001 - Regular Assessments 2,647,799.37”2024 Budget (P&L Budget Overview), page 1

“3004 - Insurance Revenue Assessment 1,276,800.00”2024 Budget (P&L Budget Overview), page 1

“Regular monthly assessments to residential unit owners ranged from $385 to $1,145 in 2025 and from $366 to $1,091 in 2024. Regular monthly assessments to commercial unit owners ranged from $81 to $569 in 2025 and from $77 to $541 in 2024.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 9, page 38

“The amount of the special assessment for the years ended December 31, 2025 and 2024 was $866,153 and $1,017,727, respectively. Insurance assessments are not included in the Association's regular assessments by design.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 10, page 38

“Accumulated net funds, which total $2,432,887 and $2,319,985 at December 31, 2025 and 2024, respectively, are presented on the accompanying balance sheets as a contract liability (assessments received in advance - reserve fund) and are held in separate accounts and generally not available for operating purposes. However, these funds may be used, as needed, for any Association purpose at the discretion of the Board of Directors.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 7, page 37

“During a prior year, the Association's Board of Directors' engaged a contractor to perform a major repair and replacement study. The study, which is available to the membership upon request and not presented with the audit, addressed the Association's reserve program requirements related to the estimated remaining useful lives and replacement costs of the common property components.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 7, page 37

“Management has omitted supplementary information on future major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Independent Auditor's Report, Other Matter, page 30 (same language in the 2023 audit, 2024 packet page 31)

“Net Income (287,849.77) 330,682.37 (618,532.14)”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Profit & Loss Jan-Dec 2025 vs 2024, page 13

“4503 - Capital Projects 1,066,130.64 583,800.48 482,330.16”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Profit & Loss Jan-Dec 2025 vs 2024, page 13

“9002 - Owners' Fund balance 856,998.11 526,315.74 330,682.37”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Balance Sheet Dec 31, 2025, page 11

“The total incurred and paid to the Affiliate of the Developer was $618,956 and $595,129 for the years ended December 31, 2025 and 2024, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“The amounts incurred by the Association for the insurance services provided by the Affiliate of the Developer amounted to approximately $803,000 and $952,000 for the years ended December 31, 2025 and 2024, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 39

“During the years ended December 31, 2025 and 2024, the Association incurred general maintenance and landscaping services amounting to approximately $30,000 and $34,000, respectively, from a company in which a member of the Association's Board of Directors has an interest.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 39

“The Association's policy is to retain legal counsel and place liens on the properties of homeowners whose assessments are ninety days or more delinquent. The Association has not recorded an allowance for doubtful accounts at December 31, 2025 and 2024.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 3, page 36

“BUILDING: $65,209,000 $25,000 BUILDING PREMIUM: $20,664.00”NFIP Flood Policy Declarations 5/31/2025-5/31/2026, page 1

“TOTAL ANNUAL PREMIUM: $27,669.00”NFIP Flood Policy Declarations 5/31/2025-5/31/2026, page 1

“NUMBER OF UNITS: 304 UNITS DATE OF CONSTRUCTION: 01/01/2007”NFIP Flood Policy Declarations 5/31/2025-5/31/2026, page 1

“2. Expenses declared common expenses by provisions of this Master Deed, including electricity charges for lighting, heating and air conditioning all units;”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXXVI.G, page 37

“A. Casualty insurance covering all of the Units, and Common Elements, in an amount equal to at least eighty (80%) percent of the insurance replacement value thereof, exclusive of excavation and foundation costs, as determined annually by the insurance carrier, such coverage to afford protection against (i) loss or damage by fire or other hazards covered by the standard extended coverage or other perils endorsements; and (ii) such other risks of a similar or dissimilar nature as are or shall be customarily covered with respect to buildings similar in construction, location and use to the Condominium, including but not limited to vandalism, malicious mischief, windstorm, wind driven rain damage, water damage, and flood damage, if available.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIV.A, page 22

“required to pay such portion of the costs of such maintenance, repair and replacement as shall, by reason of the applicability of any deductibility provision of such insurance, exceed the amount of the insurance proceeds applicable to such maintenance, repair or replacement.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXI, page 20

“may be paid by the Association out of its Reserve Fund for Replacements, and if the amount in such Reserve Fund for Replacements is not sufficient, then the Association shall levy and collect an assessment against all Owners and their Units in an amount which shall provide the funds required to pay for said repair, replacement or reconstruction.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIV, page 24

“Reserve fund transfers (1,098,316) 1,098,316 - -”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited Statements of Revenues, Expenses and Changes in Fund Balances, page 32

“Audit and tax services 5,400 - 5,400 5,200 Taxes and licenses 26,623 - 26,623 16,657”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited Statements, page 33

“At December 31, 2025 and 2024, the Association's cash balances at one (1) financial institution exceeded the insured limit by approximately $1,526,014 and $2,048,000, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 4, page 36

“Regular assessments and insurance assessments charged to the Developer and/or Affiliate of the Developer during the years ended December 31, 2025 and 2024 were approximately $61,021 and $69,500, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“The total incurred and paid to the Affiliate of the Developer was $573,724 and $545,390 for the years ended December 31, 2023 and 2022, respectively.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), Audited financials Note 11, page 39

“4506 - Interest Expense 0.00 8,000.00 (8,000.00)”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), Profit & Loss Budget vs Actual Jan-Dec 2023, page 14

Who's really in charge?

Red flag

Who holds the power the documents hand out: an owner-elected board, or a developer or commercial-unit owner with deed-level rights over rentals, guest services and the building's name.

The Developer's ten-year Control Period ended about 2017, but it still holds a Class II veto over all Board actions and an appointed seat until as late as Oct 2030, owns all 10 commercial units including the front desk with deed-level exclusive rights that cannot be amended without its consent, may add phases and close the pool or parking during construction without owner consent, and 57% of units vote through the Hilton timeshare regime.

StructureOne association

Commercial unitYes, with its own deed rights

BoardBy-Laws: at least 3 directors. During the Class II 'Control Period' (ten years from the Sept 25, 2007 filing of the Master Deed, i.e. to about Sept 2017, which matches the audit statement that the Association 'began its operations in 2017') the Grantor designated the entire Board; after the Control Period, 4 directors elected by members (initially two 3-year and two 2-year seats, two-year terms thereafter, no term limits) plus a 5th director appointed by the Class II (Grantor) member until Class II membership ends, after which the 5th seat is elected; Grantor may also seat a non-voting ex officio director afterward. Directors are removable with or without cause by a majority vote of the membership. In practice the 2023-2025 audits state the Developer 'maintained two (2) of the five (5) positions' on the Board. Two seats come up each year at the March annual meeting (quorum 51%; 85.7% of votes present in 2025). One formal Board meeting each fall sets the budget. Borrowing: the Board may borrow for repairs or budget shortfalls without member approval, but needs a majority member vote when the loan funds amenity changes or exceeds 10% of budgeted gross expenses, and the Association may mortgage the Common Elements (By-Laws Art. III Sec. 20; Master Deed Art. VII(e)). The 2023, 2024 and 2025 budgets each carried an $8,000 interest-expense line (2023 actual $0; no such line in the 2026 budget) and the audited balance sheets show no debt. Detailed project reports are posted on the management company's website (2025 minutes).

Developer rightsDeveloper (Anderson Ocean Club Development, LLC, managed by Strand Capital Group, LLC) is the sole Class II member with 4 weighted votes per unit it owns, the right to appoint a director, and a veto over all Board and committee actions, exercisable within 10 days of any meeting, for as long as Class II membership exists (it ends when the Grantor files a termination or on October 1, 2030 at the latest). Grantor may add Phases II-V (up to 300 residential + 10 commercial units each, within one-half mile) and amend the Master Deed to do so without owner consent until October 1, 2030, which would re-set every unit's percentage interest under the Exhibit C formula. Grantor may amend for lender or scrivener changes, may use units as sales offices/models with exclusive marketing signage while it owns a unit, may be employed as managing agent, and its representatives need not recuse on Grantor contracts. Grantor owns the 'Anderson Ocean Club' service mark and may regulate rental advertising. Article XXII (reserves/major repairs) cannot be amended without Grantor consent. The Developer's board rights have two legs: full appointment of the Board during the ten-year Control Period from the 2007 filing (expired about 2017), then one appointed seat plus the veto for as long as Class II membership or the phase option exists (Master Deed Art. XXXII; By-Laws Art. II Sec. 2). Until the phase option lapses the Grantor also reserves an easement over all Common Elements for construction equipment and cranes and the right to relocate parking and 'temporarily close parking, pool or other facilities during construction' of additional phases or other improvements (Exhibit A, p. 44). Developer and/or affiliate owned all 10 commercial units and 2 residential units at Dec 31, 2025 and paid about $61,021 (2025) and $69,500 (2024) in regular and insurance assessments on them, collected in full; the ten commercial units together carry about 1.09% of the percentage interest (CU-1 lobby/front desk 0.1752%, CU-7 spa 0.2453%, Exhibit C-2).

Commercial-unit rightsCommercial Unit CU-1 (lobby/front desk, Developer affiliate) holds deed-level exclusive rights to: conduct commercial activities on the Common Elements including food and beverage; install and control all signage; a perpetual exclusive advertising easement over corridors, elevators, exterior and parking; the pool decks and sun decks as its Limited Common Elements (owners' easement subject to 12-hour exclusions for resort functions; right to build a pool bar); live/recorded music on pool decks 9:00 a.m.-1:00 a.m.; exclusive use of the service chutes and of the telephone, cable and internet lines, with the switchboard and internet equipment remaining its property; the roof; and the ground-floor driveway/parking (short-term, towing). CU-5 has exclusive use of storage closets and service chases. Commercial Units may be used for 'general rental management service for the UNITS... reservations, key pick up and drop off, front desk, concierge, commercial laundry' and any legal purpose; they may alter their units and reroute adjacent corridors without Board consent; Association rules that affect Commercial Units are not binding without their written consent; any Commercial Unit owner may specifically enforce Article XIV against the Association or residential owners with attorney's fees; and Articles XIV and XXXII cannot be amended without CU-1's written consent.

VotesClass I: one vote per unit weighted by its Exhibit C percentage interest; co-owners designate one Voting Member; a timeshare unit's owners' association votes as the owner of that unit (Second Amendment). Class II (Grantor): four weighted votes per unit it owns. Quorum 51% of total votes; 'majority' means more than 50% of total percentage interest; proxies must be delivered 48 hours before the meeting; action without meeting requires unanimous written consent. 172 of 304 residential units (about 57%) are in the Hilton Grand Vacations timeshare regime. Any member may request a copy of the membership directory (name, unit number and mailing address only; no phone numbers or emails) (2023 annual meeting minutes).

Changing the deedMaster Deed: proposed by a Board majority or members holding 25% of the undivided interest; special meeting on 10-50 days' notice; approval by members owning at least 67% of the undivided interest; recorded within 30 days. Exceptions: changes to percentage interests or assessment basis require all owners and mortgagees; Grantor rights require Grantor consent; Articles XIV and XXXII require CU-1 owner consent; Commercial Unit rights require the affected commercial owner's consent; the Article XIV commercial-activity restriction requires a unanimous owner vote; mortgagee rights require mortgagee consent. By-Laws: 67% of total votes, never less than the threshold of the clause being amended. Termination of the regime requires unanimous owners and lienholders.

Disputes or lawsuitsMaster Deed imposes binding arbitration under the SC Uniform Arbitration Act for all claims arising under the Master Deed or relating to design/construction, with a jury-trial waiver (Articles XXXVIII-XXXIX); carve-outs for assessment collection suits, emergency injunctions, and suits by a Commercial Unit owner to enforce Article XIV. The 2025 audit says the Association may be party to routine collection and covenant-compliance actions, not material. No pending litigation is disclosed. 2025 shows an insurance claim for a 'Valet Drive thru' loss dated 06/15/25 ($25,000 claim expense). Grantor disclaims construction warranties to subsequent purchasers and disclaims responsibility for mildew/moisture in the pool enclosures (Art. XXXVII).

What the documents say (23)

“During the years ended December 31, 2025 and 2024, the Anderson Ocean Club Development, LLC ("the Developer"), maintained two (2) of the five (5) positions on the Association's Board of Directors.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“At December 31, 2025 and 2024, the Developer and/or Affiliate of the Developer owned all ten (10) of the Association's commercial units and two (2) of the Association's residential units.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“So long as the Class "II" membership exists, the Class "II" member shall have a veto power over all actions of the Board and any committee, as is more fully provided in this Section.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article III Section 3, page 67

“The GRANTOR shall have the right at any time to terminate Class II membership by filing an instrument in the records of Horry County, South Carolina so doing, and in any event the Class II membership shall terminate no later than October 1, 2030.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article II Section 2, page 64

“Class II. The sole Class II member shall be the GRANTOR. The Class II member shall be entitled to four (4) votes for each UNIT in which it holds an interest required for Membership pursuant to Article XIII of the Master Deed, with each such vote having a percentage weight equal to the percentage undivided interest in the COMMON ELEMENTS for that UNIT as set forth in Exhibit C of the Master Deed.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article II Section 2, page 64

“At the first annual meeting of the ASSOCIATION following the expiration or sooner termination of the Class II Control Period, four (4) Directors shall be elected and a fifth Director shall be appointed by the Class II member.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article III Section 5, page 68

“The GRANTOR, or an affiliate of the GRANTOR, may be employed as managing agent or manager.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article III Section 18, page 73

“The GRANTOR may elect to exercise this right or option as to Phases II through V no later than October 1, 2030.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article III, page 6

“At such meeting, the amendment or amendments proposed must be approved by an affirmative vote of MEMBERS owning at least sixty-seven (67%) percent of the undivided interest in the COMMON ELEMENTS of the Regime in order for such amendment or amendments to become effective.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIX, page 32

“The OWNER of Commercial UNIT CU-1, its successors, assigns and licensees, is hereby granted the exclusive rights to: i) control the movable type on any signage; ii) to install and maintain signage on the COMMON ELEMENTS; iii) to conduct commercial activities upon the COMMON ELEMENTS, including, without limitation, food and beverage service.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XIV, page 14

“Without limiting the commercial activities reserved in favor of the Commercial UNITS as set forth in this Master Deed, the Commercial UNITS may be used for all legal residential, commercial and business purposes including, but not limited to, purposes of general rental management service for the UNITS and other rental property and related accommodation services such as reservations, key pick up and drop off, front desk, concierge, commercial laundry, and cable, movie, internet and telephone services to UNITS, shops, stores, sales, gaming machines if permitted by law, cell towers, guest laundries, meeting rooms, restaurant, lounge, game room, real estate sales, accommodations, health spa, pool bar, night clubs, pier, or any combination of such uses related to any Phase.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXXVI.B, page 37

“Provided, however, any such rules or regulations that purport to diminish, abrogate or in any way affect the Commercial UNITS, including the LIMITED COMMON ELEMENTS appurtenant thereto or other rights reserved herein in favor of such Commercial UNITS or the OWNERS thereof shall not be binding upon the OWNER of such Commercial UNIT, its successors and assigns, unless and until such OWNER consents in writing to the same.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XV, page 15

“F. Any OWNER of a Commercial UNIT shall have the right to specifically enforce, inter alia, the provisions of Article XIV restricting the right and authority of the ASSOCIATION or the OWNERS of Residential UNITS to conduct commercial activities. In any action for specific performance pursuant to this ARTICLE XXX, paragraph F, the prevailing party shall be entitled to reasonable attorney's fees and costs in prosecuting or defending such actions.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXX.F, page 34

“There are 304 residential units and 10 commercial units. 172 of the residential units have been contributed to the Hilton Grand Vacation timeshare regime.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), March 3, 2023 annual meeting minutes, page 8

“At December 31, 2025, the development consisted of three hundred four (304) residential units (of which 132 are wholly owned units and 172 have been allocated to timeshare units) and ten (10) commercial units. The Association began its operations in 2017.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 1, page 35

“In order to establish a Quorum, 51% of the total votes of the association must participate in person or by proxy.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), March 7, 2025 annual meeting minutes, page 6

“GRANTOR HEREBY DECLARES, ON BEHALF OF ITSELF, THE ASSOCIATION, AND ANY OWNER OF A UNIT, THAT ANY AND ALL RIGHT TO TRIAL BY JURY SHALL BE WAIVED BY GRANTOR, THE ASSOCIATION, OR ANY OWNER OF A UNIT IN ANY DISPUTE, PROCEEDING, CASE OR CONTROVERSY ARISING UNDER OR RELATED TO THE WITHIN MASTER DEED.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXXVIII, page 39

“The provisions of this Section XXII may not be amended without the express written consent of the GRANTOR, its successors or assigns to the rights to submit additional Phases.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXII, page 20

“The Class II member shall for a period of ten (10) years from the filing of the Master Deed (the "Control Period") in the Horry County Register of Deeds Office, have the right to designate and select the persons who shall serve as members of the Board of Directors of the ASSOCIATION”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article II Section 2, page 64

“GRANTOR further reserves the right to relocate existing parking facilities and to temporarily close parking, pool or other facilities during construction of such improvements.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit A, page 44

“The Board of Directors shall have the power to borrow money for the purpose of repair or restoration of the COMMON ELEMENTs or for the purpose of funding budgetary shortfalls, without the approval of the membership; provided, however, the Board shall obtain prior Voting Member approval by majority vote for special assessments in the event that the proposed borrowing is for the purpose of modifying, improving, or adding amenities, or the total amount of such borrowing exceeds or would exceed ten (10%) percent of the budgeted gross expenses of the ASSOCIATION for that fiscal year.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Exhibit E By-Laws, Article III Section 20, page 74

“CU-1 500 0.1752%”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), First Amendment Exhibit C-2, page 97

“As an owner, you have the right to request a copy of the membership directory. The name, unit number and mailing address is included. Phone numbers and email addresses are not provided.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), March 3, 2023 annual meeting minutes, page 8

03 Pros and cons

For the owner who runs it themselves.

The same building reads very differently to an owner on the rental program and an owner on Airbnb. This list is for the second one.

Working for you

The Master Deed expressly protects an owner's right to rent or lease the unit and to use any insured rental manager; no minimum stay, owner-use cap or on-site-program requirement is stated in the Master Deed or its amendments (the Association's Rules and Regulations, other than the pet page, are not in this set); the 2010 Second Amendment re-adopted this language unchanged (Master Deed, Art. XIV, pp. 13-14; Second Amendment, p. 2).
The Association is barred by its own By-Laws from running a rental program, so the HOA itself will never compete with or steer owners into a house program (Master Deed Exh. E By-Laws, Art. I Sec. 4, p. 63).
Third-party and off-site rental managers are expressly contemplated: any company carrying $1M/$2M GL plus a $5M umbrella and posting an in-unit contact placard may operate, with no exclusivity for the on-site desk (Master Deed, Art. XV, p. 15).
Renters automatically receive the owner's right to use the Common Elements, including an easement over the indoor and outdoor pool decks and sun decks (Master Deed, Art. VII(a), p. 10; Art. IV(F), p. 8).
Dues cover unusually broad utilities for a short-term rental: in-unit electricity, water/sewer, gas, cable, internet, phone, trash, monthly pest control and a bed-bug program, plus 24-hour security, pool towels and a pool attendant (2026 Budget, pp. 1-2; Master Deed, Art. XXXVI.G, p. 37).
Reserves: $2,432,887 accumulated at Dec 31, 2025 (up $112,902 from $2,319,985; up $14,975 the year before from $2,305,011). The 2026 budget sends $529,723 (13.5%) to General Reserves plus $500,000 (12.8%) to Capital Projects expected to be spent in-year, backed by a major repair and replacement study (2026 Minutes packet, Audit Notes 7 and 12, pp. 37, 39; 2024 Minutes packet, Audit Note 7, p. 38; 2026 Budget, p. 2).
Regular assessments are rising at a measured pace, about 4.0% for 2026 ($2,891,397 vs $2,780,189) and 5.0% for 2025, and the total 2026 budget is 7% lower than 2025 because the insurance assessment fell from $1,276,800 to $875,000 (2026 Budget, p. 1; 2026 Minutes packet, p. 19).
Financials are audited annually with unqualified opinions, delinquency is negligible (homeowner A/R $2,733 at Dec 31, 2025) and no capital special assessment appears in 2022-2025 (2026 Minutes packet, Auditor's Report p. 29; Balance Sheet p. 10; Audit Notes 9-10, p. 38).
The building carries NFIP flood coverage of $65,209,000 with zero prior NFIP claims and a modest $27,669 annual premium (Flood Policy Declarations, p. 1).
Owner participation is strong (85.7% of votes present at the 2025 annual meeting, 82.03% in 2023), board terms are two years and directors can be removed by a simple majority of members (2026 Minutes packet, p. 6; 2024 Minutes packet, p. 6; By-Laws Art. III Sec. 6, p. 69).

Watch-outs

Self check-in is effectively impossible: owners may not dispense keys of any kind, including lock-box keys, or book rentals from the unit or Common Elements; the entry doors carry a centralized electronic lock the owner cannot change ($100 penalty plus reinstall cost); and every occupant must check in at the registration desk, which sits inside Developer-owned Commercial Unit CU-1. The fee or terms for off-program guests using that desk are nowhere stated (Master Deed, Art. XIV pp. 13-14; Art. XVII pp. 16-17; Art. VII(a) p. 10; Exh. B p. 47).
A deed-level commercial monopoly: CU-1 holds exclusive rights to all commercial activity on the Common Elements (food and beverage, signage, advertising easement), owns the pool decks as Limited Common Elements (owners can be excluded up to 12 hours for resort functions), may play music until 1:00 a.m., and controls the telephone/cable/internet lines, service chutes, roof and ground-floor parking (Master Deed, Art. IV p. 8; Art. XIV p. 14; Art. XVI p. 16; Exh. B p. 48).
These rental and commercial rules are locked in: Article XIV cannot be amended without the written consent of CU-1's owner, and the commercial-activity restriction requires a unanimous vote of all unit owners; any Commercial Unit owner may sue to enforce Article XIV and recover attorney's fees (Master Deed, Art. XXIX p. 31; Art. XIV p. 14; Art. XXX.F p. 34).
The Developer still controls: its ten-year Control Period (full Board appointment) ran from the 2007 filing to about 2017, but it keeps Class II membership with a veto over every Board and committee action and the right to appoint a director until it files a termination or October 1, 2030, and the 2023-2025 audits report it held 2 of 5 board seats. It may also add Phases II-V within one-half mile until October 1, 2030 without owner consent, which would re-set every unit's percentage interest, and may relocate parking and temporarily close parking, the pool or other facilities during such construction (By-Laws Art. II Sec. 2 p. 64, Art. III Secs. 2-3 pp. 67-68; Master Deed Art. III pp. 4-6, Art. XXXII p. 35, Exh. A p. 44; 2026 Minutes packet, Audit Note 11, p. 38).
Heavy related-party spending with a four-year trend: the bulk service agreement with a Developer affiliate cost $545,390 (2022), $573,724 (2023), $595,129 (2024) and $618,956 (2025) (security, hallways, pool, maintenance, locks); insurance was placed through a Developer affiliate for about $703,000 (2022), $1,033,000 (2023), $952,000 (2024) and $803,000 (2025); the exercise room is leased from the Developer for $16,000 a year; and a board member's company was paid about $30,000 for maintenance and landscaping (2026 Minutes packet, Audit Note 11, pp. 38-39; 2024 Minutes packet, Audit Note 11, pp. 39-40).
Wholly-owned owners are a voting minority: 172 of 304 residential units (57%) have been contributed to the Hilton Grand Vacations timeshare regime, whose owners' association votes as the owner of each such unit (2024 Minutes packet, p. 8; 2026 Minutes packet, Audit Note 1, p. 35; Second Amendment, p. 3).
Insurance is billed as a separate annual 'special assessment' on top of regular dues and has swung widely: $755,023 (2022), $1,098,731 (2023), $1,017,727 (2024), $866,153 (2025), $875,000 budgeted for 2026, equal to 22% of the budget; no wind deductible or property declarations are in this set (2026 Minutes packet, Audit Note 10, p. 38; 2024 Minutes packet, Audit Note 10, p. 39; 2026 Budget, p. 1).
2025 closed with a $287,850 operating-fund deficiency: $1,098,316 was transferred to the reserve fund (vs $981,487 budgeted) to pay $1,066,131 of capital projects against a $700,000 budget, fire-alarm work ran $65,866 against $20,000, income taxes and licenses were $26,623 (audit fees themselves were $5,400), and the $866,153 insurance assessment fell short of $892,452 insurance expense; the operating fund balance dropped from $856,998 to $569,148 while the reserve balance rose $112,902 to $2,432,887 (2026 Minutes packet, audited Statements pp. 32-33, Balance Sheet p. 31, P&L pp. 12-13).
The auditor flagged in both the 2023 and 2025 audits that management omitted the required supplementary disclosure on future major repairs and replacements; the reserve study is 'available upon request' but not provided, and reserve funds 'may be used, as needed, for any Association purpose at the discretion of the Board' (2026 Minutes packet, pp. 30 and 37; 2024 Minutes packet, p. 31).
Housekeeping and trash logistics favor the house operator: cleaners must check in at the registration desk before entering any unit, only CU-5's owner may use the maids' closets and service chases, and the trash/linen service chutes are reserved to CU-1; how an off-program owner handles guest trash and linens is unstated, while owners collectively fund $100,000 of trash removal (Master Deed, Art. XIV p. 14; Art. IV(D) p. 8; Exh. B p. 47; 2026 Budget p. 2).
The Developer owns the 'Anderson Ocean Club' service mark and reserves the right to impose advertising rules on owners and rental managers; no 'For Rent' or other signs may be visible from outside (Master Deed, Art. VII p. 11; Art. XIX p. 18).
All disputes under the Master Deed go to binding arbitration with a jury-trial waiver, and the Grantor disclaims warranties to resale buyers, including mildew and moisture problems in the pool enclosures (Master Deed, Art. XXXVII-XXXIX, pp. 39-42).
Oceanfront exposure is disclosed in the deed: an erosion rate of -0.68 feet per year, with part of the project possibly seaward of the state setback line and inside the FEMA velocity zone; the flood policy rates the building in zone AE (Master Deed, Art. I, pp. 2-3; Flood Policy Declarations, p. 1).
No pets except service animals, closing off the pet-friendly rental niche (Pet Policy, p. 1).
Owners bear guest-caused damage not covered by the master policy, must keep a contents-insurance certificate on file, and fines unpaid by an occupant shift to the owner (Master Deed, Art. XXX.B p. 33; Art. XXIII p. 21; By-Laws Art. III Sec. 22 p. 75).
Owners fund the resort's guest-facing services while the commercial units pay almost nothing: all ten commercial units together carry about 1.09% of assessments (CU-1 lobby/front desk 0.1752%, CU-7 spa 0.2453%), the Developer and its affiliate paid about $61,021 in total assessments in 2025, and management confirmed 'Rental companies do not pay funds into the HOA'; yet dues pay $40,200 for pool towels, $24,781 for a pool attendant, $10,000 for wristbands and $273,803 for security on decks CU-1 controls (Master Deed, Exh. C-2 pp. 97-98; 2026 Minutes packet, Audit Note 11, p. 38; 2024 Minutes packet, p. 8; 2026 Budget, pp. 1-2).
The fitness room is not an owned amenity: it is Developer-owned CU-4 leased by the Association since 2010, the lease auto-renewed in 2021 for five years to June 2025, and no document states the current term, so continued gym access for guests depends on the Developer (2024 Minutes packet, Audit Note 11, p. 39; 2026 Minutes packet, Audit Note 11, p. 38; 2026 Budget, p. 1).
The Board may borrow for repairs or budget shortfalls without a member vote (a majority vote is needed only when the loan funds amenity changes or exceeds 10% of budgeted expenses) and may mortgage the Common Elements; the 2023-2025 budgets each carried an unexplained $8,000 interest-expense line although the audits show no debt, so ask whether the Association has or had a loan (Master Deed Exh. E By-Laws Art. III Sec. 20, p. 74; Art. VII(e), p. 10; 2024 Minutes packet, pp. 14, 20, 26; 2026 Minutes packet, p. 20).
A buyer inherits the seller's unpaid dues: in a voluntary conveyance the grantee is jointly and severally liable with the grantor for assessments unpaid at closing, so obtain the Association's payment-status statement before closing (Master Deed, Art. XXVII.L, p. 30).
Cash is concentrated above FDIC limits: balances at one bank exceeded the insured limit by about $1,526,014 (2025), $2,048,000 (2024) and $1,933,000 (2023) (2026 Minutes packet, Audit Note 4, p. 36; 2024 Minutes packet, Audit Note 4, p. 37).
Casualty and elevator costs recur: 'Hurricane IAN' repairs of $4,523 in 2023 and $7,408 of insurance-claim repairs in 2022 preceded the 2025 valet-drive loss, and 2024 uncontracted elevator repairs ran $48,755 against a $5,000 budget (total elevator maintenance $98,335), with owners asking about elevator upgrades and door refurbishing in 2025 (2024 Minutes packet, P&L p. 13, audited statement p. 34; 2026 Minutes packet, P&L p. 12, audited statement p. 32, minutes p. 7).

04 The money

What you pay, and where it goes.

An HOA fee is a share of a budget. The budget tells you whether the fee is buying upkeep or catching up on it.

Regular assessments, 2026

Unit type	Per month	Per year
Type 1 residential (statutory value 474, 0.1661% interest): 2026 regular assessment $400/mo + separate insurance assessment $121/mo -- derived from 2026 Regular Assessments $2,891,396.56 and Insurance Revenue Assessment $875,000 x Exhibit C-2 percentage; the method reconciles to the audited 2025 monthly range of $385-$1,145 (0.1661%-0.4944% of $2,780,189). The $55,000 Trash Removal Fees and $15,000 Parking Deck Allocation revenue lines are billed to parties the documents do not identify and are not included here.	$521	$6,256
Type 2 residential (statutory value 671, 0.2351% interest): 2026 regular assessment $566/mo + separate insurance assessment $171/mo -- derived from 2026 Regular Assessments $2,891,396.56 and Insurance Revenue Assessment $875,000 x Exhibit C-2 percentage; the method reconciles to the audited 2025 monthly range of $385-$1,145 (0.1661%-0.4944% of $2,780,189). The $55,000 Trash Removal Fees and $15,000 Parking Deck Allocation revenue lines are billed to parties the documents do not identify and are not included here.	$738	$8,855
Type 3 residential (statutory value 1,169, 0.4096% interest): 2026 regular assessment $987/mo + separate insurance assessment $299/mo -- derived from 2026 Regular Assessments $2,891,396.56 and Insurance Revenue Assessment $875,000 x Exhibit C-2 percentage; the method reconciles to the audited 2025 monthly range of $385-$1,145 (0.1661%-0.4944% of $2,780,189). The $55,000 Trash Removal Fees and $15,000 Parking Deck Allocation revenue lines are billed to parties the documents do not identify and are not included here.	$1,286	$15,427
Type 4 residential (statutory value 1,411, 0.4944% interest; includes 22nd-floor units PH-04 and PH-11, while other PH units carry 1,169 or 671): 2026 regular assessment $1,191/mo + separate insurance assessment $360/mo -- derived from 2026 Regular Assessments $2,891,396.56 and Insurance Revenue Assessment $875,000 x Exhibit C-2 percentage; the method reconciles to the audited 2025 monthly range of $385-$1,145 (0.1661%-0.4944% of $2,780,189). The $55,000 Trash Removal Fees and $15,000 Parking Deck Allocation revenue lines are billed to parties the documents do not identify and are not included here.	$1,552	$18,621

What the dues cover

In-unit electricity (Master Deed Art. XXXVI.G declares 'electricity charges for lighting, heating and air conditioning all units' a common expense; 2026 electricity $305,000)Water and sewer ($172,000)Natural gas / fuel ($62,000)Cable TV ($98,000)High-speed internet and phone service via Ipacket plus other providers ($131,000)Trash removal ($100,000, partly offset by $55,000 trash fees)Monthly in-unit pest control ($13,200) and bed bug program ($11,000)24-hour security ($273,803)Pool maintenance, chemicals, towel service and pool attendant (~$168,000)Hallway/corridor cleaning two shifts daily ($119,911)Exercise room lease from Developer ($16,000)Master property insurance (via separate insurance assessment) and NFIP flood insuranceElevators, fire alarm, locking devices maintenance, landscaping, parking deckSeasonal disassembly, storage and reinstallation of the indoor pool enclosure ($6,000 budgeted 2026; $10,109 actual 2025)

Where the budget goes

4307 Insurance$875,000 · 22%

4502 General Reserves$529,723 · 14%

4503 Capital Projects$500,000 · 13%

4401 Electricity$305,000 · 8%

4501 Security (bulk service contract)$273,803 · 7%

4402 Water & Sewer$172,000 · 4%

4204 General Maintenance & Materials$171,000 · 4%

4102 Hallways and Corridor Care (bulk service)$119,911 · 3%

The figures, in the documents' words (35)

“3001 - Regular Assessments 2,891,396.56”2026 Budget (P&L Budget Overview), page 1

“3004 - Insurance Revenue Assessment 875,000.00”2026 Budget (P&L Budget Overview), page 1

“Total Income 3,912,396.56”2026 Budget (P&L Budget Overview), page 1

“4307 - Insurance 875,000.00”2026 Budget (P&L Budget Overview), page 1

“4502 - General Reserves 529,723.26”2026 Budget (P&L Budget Overview), page 2

“4503 - Capital Projects 500,000.00”2026 Budget (P&L Budget Overview), page 2

“3001 - Regular Assessments 2,780,189.00”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), 2025 Profit & Loss Budget Overview, page 19

“Total Income 4,214,989.00”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), 2025 Profit & Loss Budget Overview, page 19

“3001 - Regular Assessments 2,647,799.37”2024 Budget (P&L Budget Overview), page 1

“3004 - Insurance Revenue Assessment 1,276,800.00”2024 Budget (P&L Budget Overview), page 1

“Regular monthly assessments to residential unit owners ranged from $385 to $1,145 in 2025 and from $366 to $1,091 in 2024. Regular monthly assessments to commercial unit owners ranged from $81 to $569 in 2025 and from $77 to $541 in 2024.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 9, page 38

“The amount of the special assessment for the years ended December 31, 2025 and 2024 was $866,153 and $1,017,727, respectively. Insurance assessments are not included in the Association's regular assessments by design.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 10, page 38

“Accumulated net funds, which total $2,432,887 and $2,319,985 at December 31, 2025 and 2024, respectively, are presented on the accompanying balance sheets as a contract liability (assessments received in advance - reserve fund) and are held in separate accounts and generally not available for operating purposes. However, these funds may be used, as needed, for any Association purpose at the discretion of the Board of Directors.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 7, page 37

“During a prior year, the Association's Board of Directors' engaged a contractor to perform a major repair and replacement study. The study, which is available to the membership upon request and not presented with the audit, addressed the Association's reserve program requirements related to the estimated remaining useful lives and replacement costs of the common property components.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 7, page 37

“Management has omitted supplementary information on future major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Independent Auditor's Report, Other Matter, page 30 (same language in the 2023 audit, 2024 packet page 31)

“Net Income (287,849.77) 330,682.37 (618,532.14)”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Profit & Loss Jan-Dec 2025 vs 2024, page 13

“4503 - Capital Projects 1,066,130.64 583,800.48 482,330.16”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Profit & Loss Jan-Dec 2025 vs 2024, page 13

“9002 - Owners' Fund balance 856,998.11 526,315.74 330,682.37”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Balance Sheet Dec 31, 2025, page 11

“The total incurred and paid to the Affiliate of the Developer was $618,956 and $595,129 for the years ended December 31, 2025 and 2024, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“The amounts incurred by the Association for the insurance services provided by the Affiliate of the Developer amounted to approximately $803,000 and $952,000 for the years ended December 31, 2025 and 2024, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 39

“During the years ended December 31, 2025 and 2024, the Association incurred general maintenance and landscaping services amounting to approximately $30,000 and $34,000, respectively, from a company in which a member of the Association's Board of Directors has an interest.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 39

“The Association's policy is to retain legal counsel and place liens on the properties of homeowners whose assessments are ninety days or more delinquent. The Association has not recorded an allowance for doubtful accounts at December 31, 2025 and 2024.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 3, page 36

“BUILDING: $65,209,000 $25,000 BUILDING PREMIUM: $20,664.00”NFIP Flood Policy Declarations 5/31/2025-5/31/2026, page 1

“TOTAL ANNUAL PREMIUM: $27,669.00”NFIP Flood Policy Declarations 5/31/2025-5/31/2026, page 1

“NUMBER OF UNITS: 304 UNITS DATE OF CONSTRUCTION: 01/01/2007”NFIP Flood Policy Declarations 5/31/2025-5/31/2026, page 1

“2. Expenses declared common expenses by provisions of this Master Deed, including electricity charges for lighting, heating and air conditioning all units;”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXXVI.G, page 37

“A. Casualty insurance covering all of the Units, and Common Elements, in an amount equal to at least eighty (80%) percent of the insurance replacement value thereof, exclusive of excavation and foundation costs, as determined annually by the insurance carrier, such coverage to afford protection against (i) loss or damage by fire or other hazards covered by the standard extended coverage or other perils endorsements; and (ii) such other risks of a similar or dissimilar nature as are or shall be customarily covered with respect to buildings similar in construction, location and use to the Condominium, including but not limited to vandalism, malicious mischief, windstorm, wind driven rain damage, water damage, and flood damage, if available.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIV.A, page 22

“required to pay such portion of the costs of such maintenance, repair and replacement as shall, by reason of the applicability of any deductibility provision of such insurance, exceed the amount of the insurance proceeds applicable to such maintenance, repair or replacement.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXI, page 20

“may be paid by the Association out of its Reserve Fund for Replacements, and if the amount in such Reserve Fund for Replacements is not sufficient, then the Association shall levy and collect an assessment against all Owners and their Units in an amount which shall provide the funds required to pay for said repair, replacement or reconstruction.”Master Deed for Anderson Ocean Club HPR (2007, incl. By-Laws Exh. E and First Amendment), Article XXIV, page 24

“Reserve fund transfers (1,098,316) 1,098,316 - -”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited Statements of Revenues, Expenses and Changes in Fund Balances, page 32

“Audit and tax services 5,400 - 5,400 5,200 Taxes and licenses 26,623 - 26,623 16,657”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited Statements, page 33

“At December 31, 2025 and 2024, the Association's cash balances at one (1) financial institution exceeded the insured limit by approximately $1,526,014 and $2,048,000, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 4, page 36

“Regular assessments and insurance assessments charged to the Developer and/or Affiliate of the Developer during the years ended December 31, 2025 and 2024 were approximately $61,021 and $69,500, respectively.”2026 Annual Meeting Packet (Mar 6, 2026; 2025 minutes, 2025 financials, 2025 audit), Audited financials Note 11, page 38

“The total incurred and paid to the Affiliate of the Developer was $573,724 and $545,390 for the years ended December 31, 2023 and 2022, respectively.”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), Audited financials Note 11, page 39

“4506 - Interest Expense 0.00 8,000.00 (8,000.00)”2024 Annual Meeting Packet (Mar 1, 2024; 2023 minutes, 2023 financials, 2023 audit), Profit & Loss Budget vs Actual Jan-Dec 2023, page 14

Anderson Ocean Club.

The documents behind this page.

What the documents decide
before your first guest books.

Can you rent it your way?

Will your guests be treated like guests?

How much work lands on you?

Is the money healthy?

Who's really in charge?

For the owner who runs it themselves.

Working for you

Watch-outs

What you pay, and where it goes.

Regular assessments, 2026

What the dues cover

Where the budget goes

What to put in the house manual.

What to ask the association for.

Have the documents read
for the building you are weighing.

Anderson Ocean Club.

The documents behind this page.

What the documents decidebefore your first guest books.

Can you rent it your way?

Will your guests be treated like guests?

How much work lands on you?

Is the money healthy?

Who's really in charge?

For the owner who runs it themselves.

Working for you

Watch-outs

What you pay, and where it goes.

Regular assessments, 2026

What the dues cover

Where the budget goes

What to put in the house manual.

What to ask the association for.

Have the documents readfor the building you are weighing.

What the documents decide
before your first guest books.

Have the documents read
for the building you are weighing.