Atlantica Resort HOA Risk Assessment: Workable with rules

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?

Clear

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.

The deed guarantees unlimited-length rentals and the right to rent or lease, the rules presume owner-chosen rental agents, and no registration, minimum stay, on-site-program or advertising requirement appears in any document.

Short-term rentalsAllowed

Must use on-site programNo

Owner may rent it personallyYes

Off-site manager allowedYes

Owner-use limitsNone stated. Units restricted to residential use by owners, families, guests and invitees; no restriction on length of rental; timesharing/interval ownership prohibited.

Registrationunstated. Rules only require owners to ensure their 'rental agents and guests' know the rules and to use parking passes 'provided by the Association and/or on-site'.

Advertising rulesNo owner advertising rules stated. Master Deed Art. XXI flatly bars owner signs visible from the exterior of the units, including 'For Sale' signs (no Board-approval exception; only GRANTOR signage is excepted); the Rules separately bar signs displayed to the public 'unless prior Board approval is obtained'. The Master Deed reserves to the GRANTOR (developer) the commercial use of the name 'Atlantica' and on-property signage rights.

Vote to change rental rulesMaster Deed: affirmative vote of 67% of the members owning a UNIT (Art. XXXI); Bylaws: 67% of total votes including 67% of votes of members other than the GRANTOR (Bylaws Art. VI Sec. 6). Percentage interests and assessment apportionment require unanimous consent; commercial-unit usage rights require that owner's consent.

What the documents say (8)

“Each Residential UNIT is hereby restricted to residential use by the Owner or Owners thereof, their immediate families, guests, and invitees; provided, however, there shall be no restriction as to the length of time which an Owner may rent his or her UNIT.”2172faa9-Master_Deed..pdf, Article XVI, deed p.8 (PDF page 11)

“No UNIT or any portion thereof may be submitted to a plan of interval ownership or multiple ownership plan or any form of timesharing. Provided however, nothing herein shall be construed as limiting the right of any Owner of any UNIT from renting or leasing his or its UNIT.”2172faa9-Master_Deed..pdf, Article XVI, deed p.9 (PDF page 12)

“It is also each owner's responsibility to ensure that his/her rental agents and guests understand and observe all rules and regulations.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, GENERAL, page 1

“No trade or business activity may be conducted on Association property or in and around a specific unit, unless prior Board approval is obtained.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, BUSINESS ACTIVITY, page 2

“Further, no Owner, or his agent, may place any signs upon the COMMON ELEMENTS, or within his UNIT or the LIMITED COMMON ELEMENTS so as to be visible from the exterior of the UNITS, including, without limitation "For Sale" signs.”2172faa9-Master_Deed..pdf, Article XXI, deed p.11 (PDF page 14)

“Notwithstanding the foregoing, GRANTOR shall have the right to (i) the commercial use of the name "Atlantica"; and (ii) to affix and maintain signs on the Property identifying and/or advertising the name of the Property, of GRANTOR and/or of any business or service of GRANTOR or any licensee of GRANTOR, which such right shall not be contingent upon GRANTOR'S ownership of any minimum number of UNITS.”2172faa9-Master_Deed..pdf, Article IX, deed p.6 (PDF page 9)

“At such meeting, the amendment or amendments proposed must be approved by an affirmative vote of sixty-seven (67%) percent of the members owning a UNIT in the CONDOMINIUM in order for such amendment or amendments to become effective.”2172faa9-Master_Deed..pdf, Article XXXI, deed p.24 (PDF page 27)

“All present or future Owners, tenants or other persons who use the facilities of the CONDOMINIUM in any manner are subject to the provisions of this Master Deed and all documents appurtenant hereto and incorporated herewith, and the mere acquisition or rental of any UNIT or the mere act of occupancy of any UNIT, shall signify that the provisions of this Master Deed are accepted and ratified in all respects.”2172faa9-Master_Deed..pdf, Article XXXIII, deed p.26 (PDF page 29)

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.

Guests share the owners' common-element easement to the pools and have Beach Club use under the C-1 owner's rules, but the front desk, check-in area and lobby are a privately owned commercial unit, parking passes come from the Association and/or on-site, and no document says whether off-program guests receive front-desk check-in, so key and pass handling for a self-managed guest is unstated.

Amenities for your guestsSame as program guests

Off limits to your guestsPenthouse hot-tub deck on the 13th level of the Phase I tower (limited common element for Penthouses 1-4 only), Beach Club (Commercial Unit C-1) use is open to owners, guests, invitees and licensees but 'subject to reasonable rules and regulations of the Owner of C-1'

Wristbands & parking passesParking passes 'provided by the Association and/or on-site' are required; one space per vehicle, no double parking, 15-minute/oversized/handicapped spaces enforced, towing policy enforced at all times. Cost and number of passes unstated. No wristband program stated.

Check-inunstated. The front desk, check-in area and lobby are Commercial Unit C-2 (privately owned); owners and guests hold only an ingress/egress easement over the lobby, check-in area and elevator lobby.

TrashTrash goes down a trash chute, into receptacles or off-site dumpsters; never left in hallways or common areas; littering (gum, cigarette butts, food) prohibited.

Elevatorsunstated. Elevators and stairs are common elements; luggage carts are for owners, guests and tenants and must be returned immediately (not kept overnight in a unit).

Housekeeping & linenunstated. Housekeeping carts and personal items may not be stored in hallways or stairwells; no linens or towels on balcony railings or furniture.

What the documents say (11)

“The COMMON ELEMENTS shall be, and the same are hereby declared to be, subject to a perpetual non-exclusive easement in favor of all of the Owners of UNITS in the CONDOMINIUM for their use and the use of their immediate families, guests, and invitees, for all proper and normal purposes, and for the furnishing of services and facilities for which the same are reasonably intended, for the enjoyment of said Owners of UNITS.”2172faa9-Master_Deed..pdf, Article IX, deed p.6 (PDF page 9)

“The Owner of each UNIT, his or her family members, guests, invitees, and licensees shall have the right to utilize such areas subject to reasonable rules and regulations of the Owner of C-1.”3b00f038-CCAR_774620.pdf, Second Amendment, Exhibit B-2, COMMERCIAL UNIT C-1 (PDF page 56)

“Notwithstanding the foregoing however, the Owner of each UNIT, his or her family members, guests, invitees, and licensees shall have an easement over the lobby, check-in area, and elevator lobby as reasonably necessary for providing ingress and egress to their UNIT.”3b00f038-CCAR_774620.pdf, Second Amendment, Exhibit B-2, COMMERCIAL UNIT C-2 (PDF page 56)

“Vehicles should be parked only in marked designated spaces using parking passes provided by the Association and/or on-site.”56bb044b-Rules_and_Regs..pdf, Rules and Regulations, PARKING, page 1

“The pool is open 9:00 AM to 11:00 PM/ A competent swimmer must accompany children under 14 years of age.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, SWIMMING POOLS, page 2

“All residents, guests and renters are cautioned that they USE THE SWIMMING POOLS, POOL EQUIPMENT AND FACILITIES AT THEIR OWN RISK.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, SWIMMING POOLS, page 2

“Garbage, trash and other waste is to be disposed of properly by placing in designated locations, such as a trash chute, trash receptacle or off site dumpsters.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, TRASH, page 2

“Luggage carts are to be used only by owners, guests and tenants for their use in the transport of personal effects and returned to entrance storage areas immediately after use and shall not be stored overnight in an owner's unit.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, LUGGAGE CARTS, page 2

“This deck is a LIMITED COMMON ELEMENT available only to the owners, invitees, and guests of Penthouses 1, 2, 3, and 4.”14042511-CCAR_795007.pdf, Exhibit B (Continued), deed p.35 (PDF page 38)

“On-site parking is not available for the Owners, Guests, Tenants, and Invitees of Atlantica Horizontal Property Regime.”14042511-CCAR_795007.pdf, Article VI Parking, deed p.5 (PDF page 8) - superseded in practice by Phase II/III parking areas and the 2016 annexed lot

“Likewise, such parking easement may be relocated, reconfigured, or released from a portion or all of the above-described property at the sole discretion of the GRANTOR, its successors or assigns, so long as replaced, reconfigured or relocated parking sufficient (when taking into account any other parking submitted or available to the regime) to meet the requirements of the zoning regulations or ordinances of the City of Myrtle Beach is made available”3b00f038-CCAR_774620.pdf, Second Amendment, Phase III parking easement over Lots 13-14, Block 79-C (PDF pages 52-53); OCR-cleaned

How much work lands on you?

Favorable

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.

Little beyond normal hosting - no local-contact or response-time rule - but the owner must lodge a key with the Association, follow strict licensed/insured contractor hours, keep guests pet-free and smoke-free, and ultimately pays all guest fines and guest-caused repair costs, with the bylaws' notice-hearing-appeal process as the safeguard.

Locks & keysOwner must deposit a key to the unit under the control of the Association for emergency entry; if the owner fails to, the Association may enter for required maintenance and charge the owner, including the cost of making a key, as a lien-able assessment.

FinesExhibit A Fine Policy: fines start at $50; general violations up to $100 per day or per occurrence; vehicle maintenance $50; equipment (trailers, campers, boats, jet skis) towing or $100 / $250 / $500 escalating; pets $50 per occurrence and removal; health and safety (fireworks, throwing items from balconies, trash accumulation, tampering with fire equipment, glass at pool) up to $500 per occurrence; also loss of cable privileges and legal action. Bylaws say a fine is first assessed against the occupant, then the owner pays on notice; the fine policy says payment of violations is the final responsibility of the owner. Board may suspend amenity rights; towing of unregistered/abandoned/inoperable vehicles after 72 hours. Due process (Bylaws Art. III Sec. 24(a)-(d)): before any fine the Board must serve written notice of the violation and proposed sanction with at least 10 days to request a hearing before the Covenants Committee (held in executive session), and the owner may appeal to the Board within 30 days of the hearing; the Board may instead act by self-help (e.g. towing) or suit, with the violating owner or occupant paying costs and attorney's fees. Amenity suspension can never limit ingress/egress to the unit. Master Deed Art. XXXII(B): the owner pays repair costs caused by family, guests, agents or lessees to the extent not covered by Association insurance, including 'any increase in fire insurance rates occasioned by use, misuse, occupancy or abandonment of a UNIT'.

Contractors & vendorsContractors must be licensed in Horry County and the City of Myrtle Beach, carry liability and workers' comp insurance, and file a certificate of insurance naming the Association as additional insured; hours 8am-6pm Monday-Saturday, no work on Sundays; owner responsible for cleanup and any common-element damage. Structural or exterior alterations need prior written Board approval; units not designed for washers/dryers cannot add them.

AlsoAssociation performs monthly pest-control spraying inside each unit (owner must allow entry). Owner maintains HVAC, appliances, doors, door frames, windows, window frames, screens and interior surfaces. Window treatments must show a uniform white backing from outside. Only approved outdoor furniture on balconies; no storage, towels or linens on railings. Smoke-free building including balconies; vaping prohibited. Quiet after 11:00 PM. Owner responsible for conduct and damage of family, guests and contractors. Unauthorized improvements or alterations must be removed within 30 days of notice or the Association may remove them and charge the owner for removal and repair (Art. XXI). On an insured loss to an owner-maintained item the owner pays the portion that falls within the master-policy deductible (Art. XXIII; 2021 deductibles $25,000 AOP / $25,000 named storm / $75,000 water), and the owner is liable for accidents inside the unit like the owner of a house (Art. XXV), so a renting owner needs HO6 contents and liability cover beyond the Association's group HO6.

What the documents say (13)

“To facilitate entry in the event of any such emergency, the Owner of each UNIT, shall deposit under the control of the ASSOCIATION a key to such UNIT.”2172faa9-Master_Deed..pdf, Article XIX, deed p.10 (PDF page 13)

“In that regard, ASSOCIATION, or its designated contractor shall perform monthly service for pest control which will include spraying within each UNIT and each Owner of a UNIT is hereby so notified.”2172faa9-Master_Deed..pdf, Article XX, deed p.10 (PDF page 13)

“Each owner is responsible for the proper conduct of his/her family, guests and contractors as well as any damage to the property caused by these persons.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, GENERAL, page 1

“THE GOVERNING DOCUMENTS, INCLUDING THE MASTER DEED, BY-LAWS AND RULES AND REGULATIONS ARE APPLICABLE TO OWNERS, GUESTS, INVITEES, LESSEES, ETC. PAYMENT OF VIOLATIONS SHALL BE THE FINAL RESPONSIBILITY OF THE OWNER.”4cba55c4-CCAR_800926.pdf, Exhibit A Fine Policy, page 3

“Owners may be subject to fines starting at $50.00, unless otherwise noted, loss of cable privileges and/or legal action.”4cba55c4-CCAR_800926.pdf, Exhibit A Fine Policy, VIOLATIONS, page 3

“(1) GENERAL VIOLATIONS: Subject to fines, not to exceed $100.00 per day or per occurrence (up to the maximum allowed by law).”4cba55c4-CCAR_800926.pdf, Exhibit A Fine Policy, page 4

“(5) HEALTH AND SAFETY VIOLATIONS: Subject to fines, not to exceed $500.00 per occurrence (including but not limited to shooting fireworks on ASSOCIATION PROPERTY; throwing items from balconies; accumulation of trash and/or other materials that may attract pests; threat of flood or fire damage to neighboring properties, tampering with smoke detectors, fire doors, fire extinguishers, glass in the pool area etc.)”4cba55c4-CCAR_800926.pdf, Exhibit A Fine Policy, page 4

“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.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 24 Enforcement, bylaws p.52 (PDF page 57)

“Contractors used must be licensed in Horry County as well as the City of Myrtle Beach. All contractors must be insured for liability and workman's comp issues and a certificate of insurance filed with the Association indicating the Association as an additional insured. Contractor hours should be 8:00 am to 6:00 pm, Mondays through Saturdays. No work is allowed on Sundays.”4cba55c4-CCAR_800926.pdf, Rules and Regulations, UNIT MAINTENANCE/CONTRACTOR WORK, page 3

“Should the Owner fail to provide any maintenance and/or repairs as required, the ASSOCIATION shall have the right to enter the UNIT to accomplish same at the sole cost and expense of the Owner and said cost and expense shall be charged against the Owner, including the expense of making a key should Owner fail to deposit a key with the ASSOCIATION pursuant to the requirements of Article XIX.”2172faa9-Master_Deed..pdf, Article XXIII, deed p.12 (PDF page 15)

“Prior to imposition of any sanction hereunder, except the suspension of voting rights for nonpayment of assessments, the Board or its delegate shall serve the alleged violator with written notice describing (i) the nature of the alleged violation, (ii) the proposed sanction to be imposed, (iii) a period of not less then ten (10) days within which the alleged violator may present a written request to the Covenants Committee, if any, or Board of Directors for a hearing”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 24(a) Notice, bylaws p.52 (PDF page 57)

“Such liability shall include any increase in fire insurance rates occasioned by use, misuse, occupancy or abandonment of a UNIT or its appurtenances.”2172faa9-Master_Deed..pdf, Article XXXII(B), deed p.26 (PDF page 29)

“provided, however, nothing herein shall authorize the Association or the Board of Directors to limit ingress and egress to or from a UNIT.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 24 Enforcement, bylaws p.52 (PDF page 57)

Is the money healthy?

Caution

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.

Insurance is ~30% of the budget and separately assessed, a $121,649 insurance special assessment hit in January 2024 after premiums jumped 73%, reserves are ~8.7% of budget with no reserve study or balance disclosed, operations dues rose 8.5% for 2026, 2025 closed with a $36,332 deficit now being recovered, and the owner bears the master deductible on in-unit items; partly offset by premiums falling from $784,642 (2024) to $511,420 (2026), combined operations-plus-insurance billing up only 3.2%, no master pass-through and strong inclusions.

2026 budget$1,716,930

Dues change+8.5% on the year

Reserves9% of budget

Special assessments2024 $121,649 total; per unit type due Jan. 15, 2024: Smaller $709, Larger $887, Penthouse $1,064, C-1 $1,596, C-2 $3,724 Insurance: $28,250 2023 premium shortage plus $93,399 prorated premium to raise total insured value after a replacement-cost appraisal of $32,200,000 versus $21,128,492 insured; the carriers agreed to prorate the increased coverage, so the TIV add-on was $93,399 instead of the $157,724 an annualized premium would have cost. The annual insurance premium itself ($784,642 in 2024) was moved out of regular dues and is billed as a separate recurring insurance assessment in two installments (see insurance.notes and dues), not as a special assessment

Insurance2026 budget (revised 5/28/26) carries 'Insurance (H06 and Master)' $511,420 = 29.8% of $1,716,930; the 12/8/25 version carried $446,652 master + $111,945 group HO6 = $558,597 (31.7% of $1,764,107). History: 2023 budget $454,177, 2023 actual $482,427, 2024 $784,642 (36% of the $2,168,086 budget), 2025 $551,045. The Association buys a group HO6 policy for owners as a common expense. 2021 liability: $1,000,000 occurrence / $2,000,000 aggregate with Aspen Specialty (BI/PD deductible $250,000); D&O $1,000,000 with Travelers. Master Deed Art. XXIX(G) requires a reserve for insurance deductibles. The 2021 evidence covers 1708 N. Ocean Blvd and 43 units, so it may represent only one of the three buildings. Operations assessments rose 8.5% for 2026 ($1,058,418 to $1,148,910); combined operations plus insurance billing rose about 3.2% ($1,609,463 to $1,660,330) under the revised budget. Total owner billing history: 2023 $1,550,056 (insurance inside regular dues) -> 2024 $1,811,952 ($1,027,310 operations + $784,642 insurance) -> 2025 $1,609,463 -> 2026 $1,660,330, about 7% above 2023. Master Deed Art. XXVI(A) requires casualty insurance covering all units and common elements at maximum replacement value; the Board must review coverage adequacy at least every three years and report at the next annual meeting; the Association is the Insurance Trustee. Art. XXIII: when an insured loss hits an owner-maintained item (HVAC, appliances, windows, doors, interior surfaces) the owner pays the portion that 'by reason of the applicability of any deductibility provision' exceeds the proceeds - with 2021 deductibles of $25,000 AOP, $25,000 named storm and $75,000 water damage, an in-unit water or storm loss could leave the owner a five-figure uninsured bill. Art. XXV: owners may buy their own contents and personal-liability cover and are liable for accidents in their own unit 'to the same extent and degree that the Owner of a house would be liable'.

Wind deductible2021 Evidence of Property Insurance lists deductibles of $25,000 All Other Perils, $50,000 Earthquake, $25,000 Named Storm and $75,000 Water Damage on a $5,000,000 building limit (Replacement Cost) with Grand Strand Resort Insurance Company; current (2025-26) deductibles unstated.

FloodRCBAP flood policy with Assurant/American Bankers Insurance Company of Florida, Flood Zone VE, limit $4,800,000, deductible $1,250, 43 units, premium $5,720 plus fees ($8,333 total) for 7/7/2020-7/7/2021; current flood terms unstated.

DelinquencyMaster Deed: assessments in default bear 18% interest, $25 late fee per installment unpaid 30 days, acceleration of the year's installments, lien and foreclosure, receiver and rental entitlement, attorney's fees. 2025 letter: payments not received by the 30th of the month are subject to recurring $25 late fees, $15 administrative fees, liens, collection attorney and possible foreclosure; auto-draft on the 10th. Budgeted late fees and fines income $1,600 (2026); no bad-debt write-off budgeted in 2024-2026. 2025 projected actuals showed a $36,332 operating deficit (expenses $1,782,840 vs revenues $1,746,508, driven mainly by Fire System $82,100 against a $37,000 budget) that is recovered as a $36,332 'Prior Year's Deficit' expense line in the 2026 budget. Bylaws Art. III Sec. 21(f): a monthly installment is 'considered to be delinquent on the fifteenth (15th) day of each month unless otherwise determined by the Board' (earlier than the 30th-of-month grace in the 2025 management letter), and the Board must receive quarterly financial reports including a delinquency report. Late fees and fines actually collected: $3,900 in 2023 vs $500 budgeted; $1,600 in 2025 vs $2,400 budgeted.

What the documents say (27)

“Approved 10/15/25; Revised 12/8/25; revised 5/28/26”bdde4676-CCAR_786621.pdf, 2026 Budget header, page 1

“301 Operations Assessments 1,058,418.00 1,058,418.00 1,148,910.00”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES (2025 Budget / 2025 Actual / 2026 Budget), page 1

“302 Annual Insurance Premium Invoicing 551,045.00 551,045.00 511,420.00”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES, page 1

“801 Reserves 149,050.00 149,050.00 150,000.00”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES, page 1

“565 C-2 Fixed Expenses Funded by HOA - 10,566.98 -”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES, page 1

“305 Beach Club Contribution 19,200.00 19,200.00 -”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES, page 1

“Smaller 0.005830904 6,699.00 558.00”60298ae2-2026_Assessments..pdf, 2026 Assessments, OPERATIONS table (2026 Annual / 2026 Monthly Regular Assessments), page 1

“Smaller 0.005830904 3,257.00 1,629.00 1,629.00”60298ae2-2026_Assessments..pdf, 2026 Assessments, INSURANCE table ($558,597; Install #1 of 2 4/1/26, Estimate #2 of 2 8/1/26), page 1

“Most notably, we have removed the insurance costs from the regular operating assessments.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, 2024 budget letter dated November 28, 2023, page 1

“All of the preceding aside, we are advised that next year's premiums at renewal (both master policy and group H06) will be $784,642. This will be collected separately from the operating expenses in two installments due April 15 and August 1.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, 2024 budget letter dated November 28, 2023, page 1

“To compound matters, a replacement cost appraisal placed the total value of the Atlantica at $32,200,000 which well exceeds the $21,128,492 total insured value on the existing policies.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, Special Assessment Notification dated November 30, 2023, page 3

“It will be necessary to collect both the $28,250 shortage and the $93,399 TIV costs in a special assessment totaling $121,649.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, Special Assessment Notification dated November 30, 2023, page 3

“Payments not received by the 30th of the month in which they are due are subject to recurring $25 late fees, $15 administrative fees, liens and collection actions including referral to a collection attorney and possibly foreclosure.”a61f76c0-Atlantica_-_2025_Budget..pdf, 2026 budget letter dated December 9, 2025, page 1

“When in default, the delinquent assessment or delinquent installment thereof due to the ASSOCIATION shall bear interest at the rate of 18% per annum until such delinquent assessment or installment thereof, and all interest due thereon, have been paid to the ASSOCIATION. Further, a late fee of $25.00 shall be assessed for each installment not paid within 30 days after the due date thereof.”2172faa9-Master_Deed..pdf, Article XXIX(I), deed p.21 (PDF page 24)

“In the event that the Board of Directors should authorize the use of any portion of the funds constituting reserve funds other than the uses specifically provided for in this Article XXIX(E), it must thereafter levy a special assessment for the replenishment of such reserve funds within 90 days after the use of such reserve funds.”2172faa9-Master_Deed..pdf, Article XXIX(E), deed p.20 (PDF page 23)

“The Board of Directors of ASSOCIATION shall cause the COMMON ELEMENTS to be inspected and evaluated approximately every three (3) years by a professional engineer, architect or other qualified professional, who shall then render a report to the Board of Directors of the ASSOCIATION as to the condition of the COMMON ELEMENTS, as well as any recommendations for repairs and maintenance of the COMMON ELEMENTS.”2172faa9-Master_Deed..pdf, Article XXIV, deed p.13 (PDF page 16)

“Cause of Loss: Special Including Earthquake, Named Storm & Water Damage”cf3e1146-Insurance_Dec_Page..pdf, Evidence of Property Insurance (ACORD 27) dated 06/02/2021, page 1

“Flood Zone: VE”cf3e1146-Insurance_Dec_Page..pdf, Evidence of Property Insurance, Flood remarks, page 1

“Should the Board of Directors at any time determine, in the sole discretion of said Board of Directors, that the assessments levied are or may prove to be insufficient to pay the costs of operation and management of the CONDOMINIUM, or in the event of emergencies, said Board of Directors shall have the authority to levy such additional assessment or assessments as it shall deem to be necessary.”2172faa9-Master_Deed..pdf, Article XXIX(C), deed p.19 (PDF page 22)

“808 Prior Year's Deficit (Overage) (14,105.00) (14,105.00) 36,332.00”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES (2025 Budget / 2025 Actual / 2026 Budget), page 1; the 2025 Actual column totals 1,746,508.00 revenues vs 1,782,840.00 expenses, 'Deficit/Overage 36,332.00'

“457 Fire System 37,000.00 82,100.00 46,000.00”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES, page 1

“303 Transfer from Reserves Capital Projects 40,000.00 106,169.00 45,000.00”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES, page 1

“The Board of Directors shall have the power to borrow money for the purpose of repair or restoration of the Common Areas or for the purpose of funding budgetary shortfalls, without the approval of the membership; provided, however, the Board shall obtain 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, and the total amount of such borrowing exceeds or would exceed five (5%) percent of the budgeted gross expenses of the Association for that fiscal year.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 22 Borrowing, bylaws p.51 (PDF page 56)

“A monthly installment of the assessment shall be considered to be delinquent on the fifteenth (15th) day of each month unless otherwise determined by the Board of Directors”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 21(f)(iv), bylaws p.51 (PDF page 56)

“except that the Owner of such UNIT shall be, In said Instance, 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.”2172faa9-Master_Deed..pdf, Article XXIII, deed p.12 (PDF page 15)

“The Owner of a UNIT shall be liable for injuries or damage resulting from an accident In his own UNIT, to the same extent and degree that the Owner of a house would be liable for an accident occurring within the house.”2172faa9-Master_Deed..pdf, Article XXV, deed p.14 (PDF page 17)

“We have now been informed the carriers all agreed to proration, as opposed to an annualized amount. This is good news, because the additional premium will be $93,399, as opposed to $157,724.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, Special Assessment Notification dated November 30, 2023, page 3

Who's really in charge?

Typical

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.

Owner-elected board with developer control long expired, but two deed-protected commercial units own the front desk, lobby and Beach Club and their usage rights cannot be changed without the commercial owner's consent, the Board may borrow for shortfalls without an owner vote, and developer right-of-first-refusal (self-waiving after 90 days), name and cable-easement clauses remain in the deed.

StructureOne association

Commercial unitYes, with its own deed rights

BoardBylaws: 3 directors during developer (Class II) control, increasing to 5 elected by the Voting Members at the first annual meeting after Class II control ends, initially staggered 3/3/2/2/1-year terms, then 2-year terms; directors must be members; removable with or without cause by majority of the membership; nominating committee plus floor nominations; board meetings open to members. Officers elected annually by the board. A Board Code of Conduct was adopted by resolution in 2013 and recorded in 2018. Bylaws Art. III Sec. 22: the Board may borrow money for repair or restoration of the common areas or to fund budgetary shortfalls without membership approval; a majority Voting Member vote is needed only when the borrowing is to modify, improve or add amenities and exceeds 5% of budgeted gross expenses. Sec. 24: the Board may fine, and suspend an owner's vote and common-area use, but may never limit ingress and egress to a unit.

Developer rightsDeveloper (GRANTOR) right to designate a board majority ended no later than December 31, 2008; Class II (4 votes per unit) membership ended no later than December 31, 2019; right to add Phases II-XXI expired 20 years from filing (2018). Provisions still in the deed text: grantor right of first refusal on resales (10 days after notice), perpetual commercial use of the name 'Atlantica' and signage rights not contingent on unit ownership, grantor consent required to amend Articles XXIV and XXIX(E), and binding arbitration of deed disputes. The 2016 Third Amendment was executed by the owner-controlled Association on a 67% membership vote, so current control appears to be owner-elected. Art. XXXV(D) deems the right of first refusal waived, by a non-rebuttable presumption, if GRANTOR files no suit within 90 days after a recorded transfer, and Art. XXXV(C) caps the grantor's compliance-certificate charge at $50 (2172faa9-Master_Deed..pdf Art. XXXV, deed p.28, PDF p.31). Art. X also reserves to GRANTOR a perpetual, assignable easement to grant master-antenna, cable-TV and telephone easements over the common elements without owner consent, and says such services 'may be provided ... pursuant to the terms of agreements between the ASSOCIATION and GRANTOR, its affiliates' (relevant to the $37,322 cable and $25,723 internet lines).

Commercial-unit rightsTwo commercial units created in 2005: C-1 'Beach Club' and C-2 (front desk, check-in area, lobby, second-floor office, maids rooms and the ground-floor elevator lobby as its limited common element). The usage rights of COMMERCIAL UNITS may only be altered with the express written consent of the commercial unit owner (Art. XXXI). The deed's COMMERCIAL UNIT definition expressly includes 'rental management offices for on and off site rentals for Atlantica and other properties'. Owners have an ingress/egress easement over the lobby and check-in area and a right to use the Beach Club subject to the C-1 owner's rules. Commercial units pay regular and insurance assessments. No deed provision gives the commercial owner exclusive rental, check-in or guest-service rights over residential units. Master Deed Art. IV(C): limited common elements of COMMERCIAL UNITS 'include, without limitation, laundry facilities, lobby areas, maid and janitorial rooms, and storage rooms and closets, and television and cable facilities and easements', so laundry and cable infrastructure can sit under the commercial owner's exclusive use.

VotesClass I: one vote per unit (co-owners designate one Voting Member); proxies allowed; quorum is more than 50% of total votes; majority of those present decides unless a higher percentage is required.

Changing the deedMaster Deed amendments: proposed by board majority or members owning a majority of units, special meeting set 20-60 days after the proposal is received, with written notice mailed 10-30 days before the meeting, approved by 67% of members owning a unit, recorded within 30 days. Bylaws: 67% of total votes including 67% of non-GRANTOR votes. Unanimous consent plus mortgagees for percentage interests or assessment apportionment; GRANTOR, commercial-unit owner or Lender consent for their reserved rights. Termination requires unanimous owners and lienholders.

Disputes or lawsuitsNone disclosed. Master Deed Art. XLI requires binding arbitration under the South Carolina Uniform Arbitration Act for disputes over deed terms or between GRANTOR and owners. Bylaws cap management contracts at one year, terminable on 90 days' notice without penalty, and require audited annual financial statements within 120 days of year end.

What the documents say (13)

“The power of GRANTOR to designate Directors as above referred to shall terminate no later than the 31st day of December, 2008, notwithstanding the fact that additional phases may subsequently be added to the Atlantica Horizontal Property Regime.”2172faa9-Master_Deed..pdf, Article XXXIV, deed p.27 (PDF page 30)

“GRANTOR reserves the right at any time to terminate Class II membership by filing an instrument in the records of the Register of Deeds of Horry County, so doing and in any event the Class II membership shall terminate no later than December 31, 2019.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article II Section 8, bylaws p.45 (PDF page 50)

“At the first annual meeting after the termination of Class II control, five (5) Directors shall be elected.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 7, bylaws p.47 (PDF page 52)

“Each member elected thereafter shall be elected for a two (2) year term.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 7, bylaws p.47 (PDF page 52)

“Class I members shall be entitled to one vote for each UNIT which they hold the interest required for membership.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article II Section 8, bylaws p.44 (PDF page 49)

“NOW, THEREFORE, the Association, on behalf of itself and the affirmative vote of at least sixty-seven (67%) percent of the membership, does hereby amend the Master Deed as follows and submits the property described in Exhibit "A" to the provisions of the Horizontal Property Act of South Carolina, §§27-31-10 et seq., S.C. Code Ann., 1976, and to the provisions of the Master Deed of the Regime.”fae3fb67-CCAR_774622.pdf, Third Amendment to the Master Deed, page 1

“Except for any alteration in the percentage of ownership in COMMON ELEMENTS appurtenant to each UNIT, or alteration of the basis for apportionment of assessments which may be levied by the ASSOCIATION in accordance with the provisions hereof, in which said instances consent of all of the Owners of all UNITS and their respective mortgagees shall be required, and except for any alteration, amendment or modification of the rights and privileges granted and reserved hereunder in favor of GRANTOR, the usage rights of COMMERCIAL UNITS, and the Lender, which said rights and privileges granted and reserved unto the said GRANTOR, the Owner of any affected COMMERCIAL UNITS, and the Lender shall only be altered, amended or modified with the respective express written consent of the said GRANTOR, or Owner of any COMMERCIAL UNIT, or Lender, as the case may be, this Master Deed may be amended in the following manner:”2172faa9-Master_Deed..pdf, Article XXXI, deed p.24 (PDF page 27)

“"COMMERCIAL UNIT" means a UNIT established by the GRANTOR, its successors or assigns, for commercial purposes, including, without limitation, rental management offices for on and off site rentals for Atlantica and other properties, convention center, meeting rooms, restaurants, snack bars, bars, lounges, laundries, shops, stores, housekeeping areas, lobby areas, reception areas, vending areas, game and arcade rooms, and other commercial uses permitted by applicable zoning ordinances.”2172faa9-Master_Deed..pdf, Article XL(D) Definitions, deed p.29 (PDF page 32)

“Phase III of the Condominium consists of one (1) Building, Fifty-Six (56) residential UNITS and two (2) Commercial UNITS designated as C-1 and C-2.”3b00f038-CCAR_774620.pdf, Second Amendment, Exhibit B-2 (PDF page 55)

“For a period of ten (10) days following such delivery or mailing of the aforesaid notice to GRANTOR, GRANTOR shall have the right to purchase the subject UNIT upon same the terms and conditions as set forth in the offer therefor.”2172faa9-Master_Deed..pdf, Article XXXV Right of First Refusal, deed p.27 (PDF page 30)

“IN THE EVENT THAT A DISPUTE OR CLAIM SHALL ARISE WITH RESPECT TO ANY OF THE TERMS OR PROVISIONS OF THIS MASTER DEED, OR A DISPUTE BETWEEN GRANTOR AND ANY ONE OR MORE UNIT OWNERS SHALL ARISE, ALL DISPUTES OR CLAIMS SHALL BE RESOLVED IN ACCORDANCE WITH THE SOUTH CAROLINA UNIFORM ARBITRATION ACT UNDER S.C. CODE ANN. § 15-48-10 (A).”2172faa9-Master_Deed..pdf, Article XLI Arbitration, deed p.31 (PDF page 34)

“No management contract may have a term in excess of one (1) year and must permit termination by either party without cause and without termination fee or penalty on ninety (90) days' or less written notice.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 20(b), bylaws p.50 (PDF page 55)

“(b) a period of ninety (90) days has passed following the record transfer of title to any unit in violation of the requirements of this Article without the filing of any suit or other Judicial proceeding by GRANTOR to set aside such transfer or to otherwise enforce the rights of GRANTOR under this Article. The presumptions created by this Section D shall not be rebuttable.”2172faa9-Master_Deed..pdf, Article XXXV(D) Right of First Refusal, deed p.28 (PDF page 31)

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 says there is no restriction on how long an owner may rent and that nothing limits an owner's right to rent or lease; only timeshare/interval ownership is banned (2172faa9-Master_Deed..pdf, Article XVI, deed p.8-9).
The Rules assume owners use their own 'rental agents' - off-site or self management is the expected arrangement and no on-site program requirement appears anywhere (4cba55c4-CCAR_800926.pdf, GENERAL, p.1).
No rental registration, guest disclaimer, resort-name/photo or advertising restrictions appear in any document in the set (all 21 documents).
Guests and invitees share the owners' easement over all common elements, including the pools, and have use of the Beach Club (2172faa9-Master_Deed..pdf, Article IX, deed p.6; 3b00f038-CCAR_774620.pdf, Second Amendment Exhibit B-2, PDF p.56).
The board is owner-elected: developer board control ended by 2008 and Class II voting by 2019; the 2016 parking-lot annexation passed on a 67% owner vote (14042511-CCAR_795007.pdf, Bylaws Art. II Sec. 8 and Art. III Sec. 7; fae3fb67-CCAR_774622.pdf, Third Amendment p.1).
Dues cover cable TV, internet, water/sewer, a large electricity line, monthly in-unit pest control, exterior painting, a termite bond and the master plus group HO6 insurance (bdde4676-CCAR_786621.pdf, 2026 Budget p.1; 2172faa9-Master_Deed..pdf, Articles XX, XXIII, XXIV).
Reserves may be diverted only on a 75% board vote and must be replenished by special assessment within 90 days; the deed also mandates a professional common-element inspection every three years (2172faa9-Master_Deed..pdf, Article XXIX(E) deed p.19-20; Article XXIV deed p.13).
Management contracts are capped at one year and terminable on 90 days' notice without penalty, and audited annual financials are required within 120 days of year end (14042511-CCAR_795007.pdf, Bylaws Art. III Sec. 20-21, bylaws p.50-51).
The Association has owned its parking lot outright since 2016 (deed from BAF 17, LLC recorded November 4, 2016, annexed by the Third Amendment), replacing the off-site parking easement arrangement of the original deed (fae3fb67-CCAR_774622.pdf, Third Amendment p.1, 5; 14042511-CCAR_795007.pdf Article VI).
Insurance for 2026 was revised down from $558,597 to $511,420 after the budget was adopted, and the master plus group HO6 premium has fallen two years running from $784,642 (2024) to $551,045 (2025) to $511,420 (2026) (bdde4676-CCAR_786621.pdf, 2026 Budget p.1; f0b97f4a-Atlantica_-_2024_Budget..pdf p.1).
Fines are modest ($50 start, $100/day general cap, $500 health-safety cap) and the bylaws assess a fine against the occupant first (4cba55c4-CCAR_800926.pdf, Exhibit A p.3-4; 14042511-CCAR_795007.pdf, Bylaws Art. III Sec. 24).
Before any fine the bylaws require written notice, at least 10 days to request a hearing before the Covenants Committee, and a 30-day right of appeal to the Board, and amenity suspensions can never block access to the unit (14042511-CCAR_795007.pdf, Bylaws Art. III Sec. 24(a)-(c), bylaws p.52-53).

Watch-outs

Insurance is about 30% of the budget and is billed outside the regular dues as a separate annual assessment in two installments - $3,257 (smaller unit) to $4,886 (penthouse) in 2026 on top of $6,699-$10,049 regular dues (60298ae2-2026_Assessments..pdf p.1; bdde4676-CCAR_786621.pdf p.1).
A $121,649 insurance special assessment hit in January 2024 ($709-$1,064 per residential unit) after a 2023 premium shortfall and an appraisal showing $32.2M replacement cost against $21.1M insured; premiums jumped from $454,177 budgeted in 2023 to $784,642 in 2024 (27237db2-Atlantica_-_Insurance_Assessments_2024..pdf p.1, 3; f0b97f4a-Atlantica_-_2024_Budget..pdf p.1).
Reserve funding is $150,000, about 8.7% of the budget, with $45,000 of reserve-funded capital spending budgeted after $106,169 actual in 2025 and $334,400 budgeted in 2024; no reserve study, reserve balance or the deed-mandated three-year engineering report is in the set (bdde4676-CCAR_786621.pdf p.1; 2172faa9-Master_Deed..pdf Article XXIV, XXIX(E)).
The front desk, check-in area, lobby and Beach Club are privately owned commercial units (C-1, C-2) whose usage rights cannot be amended without that owner's consent; Beach Club use is subject to the C-1 owner's rules, and the deed definition of a commercial unit includes rental-management offices (3b00f038-CCAR_774620.pdf, Second Amendment Exhibit B-2 PDF p.55-56; 2172faa9-Master_Deed..pdf Articles XXXI, XL(D)).
The HOA absorbed $10,567 of 'C-2 Fixed Expenses' in 2025 and the $19,200 Beach Club Contribution revenue disappears in 2026, signs of friction or cost-shifting with the commercial units (bdde4676-CCAR_786621.pdf p.1).
Only pets owned by unit owners are allowed, so a self-managing host cannot accept pet-traveling guests (4cba55c4-CCAR_800926.pdf PETS p.1; 2172faa9-Master_Deed..pdf Article XVII deed p.9).
Smoke- and vape-free everywhere including balconies, no grilling except at the designated pool-area spot at Atlantica III, quiet after 11 PM, and the owner is ultimately liable for every guest fine and for guest-caused damage (4cba55c4-CCAR_800926.pdf SMOKING, GRILLING, ANNOYANCES p.1 and Exhibit A p.3).
Owner must deposit a unit key with the Association, and the Association may enter, do required maintenance and charge the owner, including the cost of cutting a key (2172faa9-Master_Deed..pdf Articles XIX, XXIII deed p.10, 12).
Contractors must be licensed in both Horry County and the City of Myrtle Beach, insured with a COI naming the Association, and work only 8am-6pm Monday-Saturday, which slows turnovers and repairs (4cba55c4-CCAR_800926.pdf UNIT MAINTENANCE/CONTRACTOR WORK p.3).
Parking requires Association/on-site passes with towing strictly enforced; the Phase I deed says on-site parking is 'not available' and parking has historically been on a separate lot (56bb044b-Rules_and_Regs..pdf PARKING p.1; 14042511-CCAR_795007.pdf Article VI deed p.5).
Oceanfront exposure: part of the property sits seaward of the state setback line with a 0.68 ft/yr erosion rate and is in flood zone VE; 2021 property evidence shows a Named Storm deductible and a $250,000 liability BI/PD deductible (14042511-CCAR_795007.pdf Exhibit A deed p.33; cf3e1146-Insurance_Dec_Page..pdf p.1-3).
Operations assessments rose 8.5% for 2026 ($1,058,418 to $1,148,910); because insurance is billed separately and fell, combined operations-plus-insurance billing rose 3.2% ($1,609,463 to $1,660,330) and total owner billing is about 7% above 2023 ($1,550,056 -> $1,811,952 -> $1,609,463 -> $1,660,330) (bdde4676-CCAR_786621.pdf p.1; f0b97f4a-Atlantica_-_2024_Budget..pdf p.1).
Developer-era clauses remain in the recorded deed: a grantor right of first refusal on every resale, perpetual grantor rights to the 'Atlantica' name and signage, and mandatory arbitration of deed disputes (2172faa9-Master_Deed..pdf Articles IX, XXXV, XLI deed p.6, 27, 31); the right of first refusal is deemed waived (non-rebuttably) if no suit is filed within 90 days after a recorded transfer and the grantor's certificate charge is capped at $50, which lowers the practical risk (2172faa9-Master_Deed..pdf Art. XXXV(C)-(D), PDF p.31).
The Rules ban 'trade or business activity' on the property without Board approval and all exterior-visible signs; while the deed protects renting, a hostile board could lean on this language (4cba55c4-CCAR_800926.pdf BUSINESS ACTIVITY, SIGNS p.2).
Units not originally designed for washers and dryers cannot add them, which matters for turnover laundry (4cba55c4-CCAR_800926.pdf ALTERATIONS & ADDITIONS p.2).
Late payments draw 18% interest plus $25 late and $15 administrative fees, with lien, acceleration, receiver and foreclosure remedies (2172faa9-Master_Deed..pdf Article XXIX(I), (M) deed p.21; a61f76c0-Atlantica_-_2025_Budget..pdf letter p.1).
2025 closed with a $36,332 operating deficit (projected actual expenses $1,782,840 vs revenues $1,746,508; the fire system ran $82,100 against a $37,000 budget) that 2026 dues must recover via a $36,332 'Prior Year's Deficit' expense line, part of the 8.5% operations increase (bdde4676-CCAR_786621.pdf, 2026 Budget p.1).
Reserve draws have run ahead of plan: 2024 budgeted $334,400 of reserve-funded capital projects against $150,000 of contributions, and 2025 actual reserve-funded spending was $106,169 vs $40,000 budgeted; 2026 budgets $45,000 (f0b97f4a-Atlantica_-_2024_Budget..pdf p.1 lines 303/456; bdde4676-CCAR_786621.pdf p.1 lines 303/456).
The Board may borrow to cover budget shortfalls or common-area repairs without any owner vote (a majority vote is needed only for amenity improvements over 5% of budget), so debt service can land in future assessments (14042511-CCAR_795007.pdf, Bylaws Art. III Sec. 22, bylaws p.51).
A renting owner carries the master-policy deductible on in-unit items the owner must maintain (HVAC, appliances, windows, doors, interior surfaces) - $25,000 AOP, $25,000 named storm and $75,000 water damage in the 2021 evidence - is liable for guest-caused repair costs not covered by Association insurance, and is liable for accidents inside the unit like a house owner (2172faa9-Master_Deed..pdf Articles XXIII, XXV, XXXII(B), deed p.12, 14, 26; cf3e1146-Insurance_Dec_Page..pdf p.1).
Phase III parking rests on a non-exclusive, relocatable easement over a third party's lot (Lots 13-14, Block 79-C); that owner may relocate or release it (subject to zoning minimums), set parking rules and reserve spaces for its own exclusive use (3b00f038-CCAR_774620.pdf, Second Amendment, PDF p.52-53).
Dues are considered delinquent on the 15th of the month under the bylaws even though the 2025 management letter applies late fees after the 30th, so an auto-draft or payment timing slip can trigger $25 late and $15 administrative fees (14042511-CCAR_795007.pdf, Bylaws Art. III Sec. 21(f), bylaws p.51; a61f76c0-Atlantica_-_2025_Budget..pdf letter p.1).

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
Smaller unit = one-bedroom (0.5830904% interest, statutory value $200 of $34,300) - regular operations	$558	$6,699
Larger unit = two-bedroom (0.728863% interest, statutory value $250) - regular operations	$698	$8,374
Penthouse unit (0.8746356% interest, statutory value $300) - regular operations	$837	$10,049
Commercial C-1 Beach Club (1.3119534% interest, statutory value 450) - regular operations	$1,256	$15,073
Commercial C-2 front desk/lobby (3.0612245% interest, statutory value 1,050) - regular operations	$2,931	$35,171
Smaller unit - 2026 insurance assessment billed separately in two installments (4/1/26 and 8/1/26, $1,629 each) (per the December 2025 assessment table based on $558,597; the 8/1/26 installment is labelled 'Estimate #2 of 2' and the 5/28/26 budget revision lowered 2026 insurance to $511,420, so the second installment may be reduced; smaller-unit share of $511,420 would be about $2,982)	$271	$3,257
Larger unit - 2026 insurance assessment ($2,036 x 2) (per the December 2025 assessment table based on $558,597; the 8/1/26 installment is labelled 'Estimate #2 of 2' and the 5/28/26 budget revision lowered 2026 insurance to $511,420, so the second installment may be reduced)	$339	$4,071
Penthouse unit - 2026 insurance assessment ($2,443 x 2) (per the December 2025 assessment table based on $558,597; the 8/1/26 installment is labelled 'Estimate #2 of 2' and the 5/28/26 budget revision lowered 2026 insurance to $511,420, so the second installment may be reduced)	$407	$4,886
Commercial C-1 - 2026 insurance assessment ($3,664 x 2) (per the December 2025 assessment table based on $558,597; the 8/1/26 installment is labelled 'Estimate #2 of 2' and the 5/28/26 budget revision lowered 2026 insurance to $511,420, so the second installment may be reduced)	$611	$7,329
Commercial C-2 - 2026 insurance assessment ($8,550 x 2) (per the December 2025 assessment table based on $558,597; the 8/1/26 installment is labelled 'Estimate #2 of 2' and the 5/28/26 budget revision lowered 2026 insurance to $511,420, so the second installment may be reduced)	$1,425	$17,100

What the dues cover

Master property insurance and group HO6 policy (billed as a separate insurance assessment)Electricity ($155,951 budget line; whether in-unit electric is included is unstated)Water and sewer ($72,782)Cable television ($37,322) - 'loss of cable privileges' is a fine remedy, implying the HOA supplies cableInternet ($25,723)Monthly in-unit pest control (Master Deed Art. XX; Pest Control $6,964)Contracted maintenance and janitorial, elevator, pool service, fire system, grounds, fuel, phoneExterior painting of buildings including doors, door frames and window frames on a regular schedule (Master Deed Art. XXIII)Termite bond (Master Deed Art. XXIV)

Where the budget goes

Insurance (H06 and Master)$511,420 · 30%

Contracted Maint. & Janitorial$274,201 · 16%

Electricity$155,951 · 9%

Reserves$150,000 · 9%

General Building Maintenance$90,000 · 5%

Pool Service Co., Supplies & Repairs$85,776 · 5%

Water & Sewer$72,782 · 4%

Fire System$46,000 · 3%

The figures, in the documents' words (27)

“Approved 10/15/25; Revised 12/8/25; revised 5/28/26”bdde4676-CCAR_786621.pdf, 2026 Budget header, page 1

“301 Operations Assessments 1,058,418.00 1,058,418.00 1,148,910.00”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES (2025 Budget / 2025 Actual / 2026 Budget), page 1

“302 Annual Insurance Premium Invoicing 551,045.00 551,045.00 511,420.00”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES, page 1

“801 Reserves 149,050.00 149,050.00 150,000.00”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES, page 1

“565 C-2 Fixed Expenses Funded by HOA - 10,566.98 -”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES, page 1

“305 Beach Club Contribution 19,200.00 19,200.00 -”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES, page 1

“Smaller 0.005830904 6,699.00 558.00”60298ae2-2026_Assessments..pdf, 2026 Assessments, OPERATIONS table (2026 Annual / 2026 Monthly Regular Assessments), page 1

“Smaller 0.005830904 3,257.00 1,629.00 1,629.00”60298ae2-2026_Assessments..pdf, 2026 Assessments, INSURANCE table ($558,597; Install #1 of 2 4/1/26, Estimate #2 of 2 8/1/26), page 1

“Most notably, we have removed the insurance costs from the regular operating assessments.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, 2024 budget letter dated November 28, 2023, page 1

“All of the preceding aside, we are advised that next year's premiums at renewal (both master policy and group H06) will be $784,642. This will be collected separately from the operating expenses in two installments due April 15 and August 1.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, 2024 budget letter dated November 28, 2023, page 1

“To compound matters, a replacement cost appraisal placed the total value of the Atlantica at $32,200,000 which well exceeds the $21,128,492 total insured value on the existing policies.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, Special Assessment Notification dated November 30, 2023, page 3

“It will be necessary to collect both the $28,250 shortage and the $93,399 TIV costs in a special assessment totaling $121,649.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, Special Assessment Notification dated November 30, 2023, page 3

“Payments not received by the 30th of the month in which they are due are subject to recurring $25 late fees, $15 administrative fees, liens and collection actions including referral to a collection attorney and possibly foreclosure.”a61f76c0-Atlantica_-_2025_Budget..pdf, 2026 budget letter dated December 9, 2025, page 1

“When in default, the delinquent assessment or delinquent installment thereof due to the ASSOCIATION shall bear interest at the rate of 18% per annum until such delinquent assessment or installment thereof, and all interest due thereon, have been paid to the ASSOCIATION. Further, a late fee of $25.00 shall be assessed for each installment not paid within 30 days after the due date thereof.”2172faa9-Master_Deed..pdf, Article XXIX(I), deed p.21 (PDF page 24)

“In the event that the Board of Directors should authorize the use of any portion of the funds constituting reserve funds other than the uses specifically provided for in this Article XXIX(E), it must thereafter levy a special assessment for the replenishment of such reserve funds within 90 days after the use of such reserve funds.”2172faa9-Master_Deed..pdf, Article XXIX(E), deed p.20 (PDF page 23)

“The Board of Directors of ASSOCIATION shall cause the COMMON ELEMENTS to be inspected and evaluated approximately every three (3) years by a professional engineer, architect or other qualified professional, who shall then render a report to the Board of Directors of the ASSOCIATION as to the condition of the COMMON ELEMENTS, as well as any recommendations for repairs and maintenance of the COMMON ELEMENTS.”2172faa9-Master_Deed..pdf, Article XXIV, deed p.13 (PDF page 16)

“Cause of Loss: Special Including Earthquake, Named Storm & Water Damage”cf3e1146-Insurance_Dec_Page..pdf, Evidence of Property Insurance (ACORD 27) dated 06/02/2021, page 1

“Flood Zone: VE”cf3e1146-Insurance_Dec_Page..pdf, Evidence of Property Insurance, Flood remarks, page 1

“Should the Board of Directors at any time determine, in the sole discretion of said Board of Directors, that the assessments levied are or may prove to be insufficient to pay the costs of operation and management of the CONDOMINIUM, or in the event of emergencies, said Board of Directors shall have the authority to levy such additional assessment or assessments as it shall deem to be necessary.”2172faa9-Master_Deed..pdf, Article XXIX(C), deed p.19 (PDF page 22)

“808 Prior Year's Deficit (Overage) (14,105.00) (14,105.00) 36,332.00”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES (2025 Budget / 2025 Actual / 2026 Budget), page 1; the 2025 Actual column totals 1,746,508.00 revenues vs 1,782,840.00 expenses, 'Deficit/Overage 36,332.00'

“457 Fire System 37,000.00 82,100.00 46,000.00”bdde4676-CCAR_786621.pdf, 2026 Budget, EXPENSES, page 1

“303 Transfer from Reserves Capital Projects 40,000.00 106,169.00 45,000.00”bdde4676-CCAR_786621.pdf, 2026 Budget, REVENUES, page 1

“The Board of Directors shall have the power to borrow money for the purpose of repair or restoration of the Common Areas or for the purpose of funding budgetary shortfalls, without the approval of the membership; provided, however, the Board shall obtain 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, and the total amount of such borrowing exceeds or would exceed five (5%) percent of the budgeted gross expenses of the Association for that fiscal year.”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 22 Borrowing, bylaws p.51 (PDF page 56)

“A monthly installment of the assessment shall be considered to be delinquent on the fifteenth (15th) day of each month unless otherwise determined by the Board of Directors”14042511-CCAR_795007.pdf, Exhibit E Bylaws, Article III Section 21(f)(iv), bylaws p.51 (PDF page 56)

“except that the Owner of such UNIT shall be, In said Instance, 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.”2172faa9-Master_Deed..pdf, Article XXIII, deed p.12 (PDF page 15)

“The Owner of a UNIT shall be liable for injuries or damage resulting from an accident In his own UNIT, to the same extent and degree that the Owner of a house would be liable for an accident occurring within the house.”2172faa9-Master_Deed..pdf, Article XXV, deed p.14 (PDF page 17)

“We have now been informed the carriers all agreed to proration, as opposed to an annualized amount. This is good news, because the additional premium will be $93,399, as opposed to $157,724.”27237db2-Atlantica_-_Insurance_Assessments_2024..pdf, Special Assessment Notification dated November 30, 2023, page 3

Atlantica Resort.

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.

Atlantica Resort.

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.