HOA Risk Assessment · Myrtle Beach oceanfront

Beach Colony Resort.

Workable with rules. You can self-manage, but the rules shape how. Read the watch-outs before you price it.

Read from 15 association documents dated 1986–2026: Beach Colony Resort Horizontal Property Regime. This page answers one question: what is it like to own here and rent it out yourself?

68OUT OF 100
Workable with rules

Self-manage score. Five questions, scored 1–5 from the documents, averaged.

Full read
Can you rent it your way?Clear
Will your guests be treated like guests?Typical
How much work lands on you?Favorable
Is the money healthy?Caution
Who's really in charge?Typical
01 What we read

The documents behind this page.

Nothing here is inferred from a listing or a phone call. Every score traces to a sentence in one of these.

Master Deed - Beach Colony Resort Horizontal Property Regime (Chicora II, Inc.)1986· poorPolicy and Rule Manual (Revised December 2021, filed Horry County 12/17/2021 Deed BK 4496 PG 2822)2021Policy and Rule Manual (Revised October 2020, filed 12/03/2020 Deed BK 4368 PG 380) - SUPERSEDED2020Beach Colony Resort Parking Rules (effective June 23, 2018)20182024 Operating Budget (approved 9/26/2023) with 2023 column and quarterly dues / insurance assessment breakdown20242025 Operating Budget (approved 10/7/2024) with 2024 column20252026 Operating Budget (approved 10/13/2025) with 2025 column20262026 Operating Budget - alternate layout2026· partialInsurance Assessment Notice dated June 1, 2025 with Certificates of Property and Liability Insurance and NFIP Flood Declarations2025· partialInsurance Explanation - the three HOA policies and how the insurance assessment is billed2024 Annual Members' Meeting Minutes - March 9, 202420242024 Annual Members' Meeting Packet - agenda, 2023 annual minutes, 2023 insurance certificates, FY2023 audited financial statements, 1/31/2024 operating and reserve statements2024· partialRegular Board of Directors Meeting Minutes - January 13, 2023 (file also contains the March 10, 2023 minutes; both sets are duplicated)2023HOA Information Sheet - Your Homeowners Association (January 2024)2024Beach Colony Resort Spring 2026 Update - owner letter from the Board2026
✓Master deed / declarationOn file
BylawsNot on file
✓Rules & regulationsOn file
✓Current budget with dues scheduleOn file
✓Latest annual meeting minutesOn file
✓Insurance summaryOn file
Reserve studyNot on file
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.

01

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 Master Deed expressly protects nightly rentals (only timeshares are barred), the rules recognize self-renting owners and outside rental agents, and there is no minimum stay, age, occupancy, advertising or disclaimer rule; the only paperwork is a request to notify management of rental status, filing leases of a year or longer, and giving tenants/agents the rule manual.

Short-term rentalsAllowed
Must use on-site programNo
Owner may rent it personallyYes
Off-site manager allowedYes
Owner-use limitsNone stated for individuals. Master Deed Art. XVI gives a lessee the owner's recreational-facility rights during the lease term and says the owner and family may not use them at the same time. IMPORTANT FOR LLC/CORPORATE BUYERS: where a corporation owns the unit, recreational-facility use is limited at any one time to the one officer, director or employee actually in residence or possession of the unit (Art. XVI). Owners' pets allowed on common areas only when the owner is in residence; renters may not bring motorcycles/mopeds. Unit renovation work permitted only in the off-season (September 30 through April 1) per the 2024 minutes.
RegistrationNo short-term guest registration with the HOA is required by any supplied document. Owners are asked to notify management in writing of rental status (owner occupied, tenant occupied, hotel management rental plan). Only long-term leases (one year or longer) must be filed with the Association Management Company at or before the start of each lease, listing tenant names, unit number, unit phone and the tenant's receipt of the Rule Manual. Owners must give tenants and any outside rental agent a copy of the Policy and Rule Manual. Guests' vehicles must display a parking tag; self-renting owners obtain hanging tags from the Association (which acquires them from BCR, Inc.). Motorcycles/mopeds (owners only) and pets (owners only) must be registered with the Association. Contractors must register with the rental desk / HOA property manager before work. Master Deed Art. XXIX: a purchaser must notify the Association in writing of the acquisition with the deed's recording data. Owner and tenant rosters (minus phone/email) are available to other owners for association-related purposes (Rule Manual p.2).
Advertising rulesunstated - no restriction on advertising, use of the resort name or photos appears in any supplied document. Signs displayed on the property require Board approval; the commercial unit owner may erect signs on common elements for its own business.
Disclaimer in your listingNot required
Vote to change rental rulesMaster Deed: amendments proposed by a majority of the Board or by members owning a majority of units, then approved by an affirmative vote of 51% of the Owners at a special meeting (Art. XXXIII); changes to percentage interests or assessment apportionment require unanimous consent of all owners and mortgagees; termination requires unanimous owners and mortgagees (Art. XXXI). Rules (including rental-related rules): the Board alone may adopt, amend and repeal them under Article XVII of the By-Laws (By-Laws not supplied).
What the documents say (14)
“Nothing contained in this Master Deed shall be deemed to allow any person or entity to commit a UNIT to Interval Ownership or other form of timesharing. Notwithstanding the foregoing, nothing contained herein shall be deemed to restrict the rental of any UNIT on a nightly basis.”Master Deed, Article XVI, page 8
“Except for the COMMERCIAL UNIT(S), its LIMITED COMMON ELEMENTS and easements, each UNIT is hereby restricted to residential use by the owner or owners thereof, their immediate families, guests, invitees and lessees ...”Master Deed, Article XVI, pages 7-8 (sentence continues with the Grantor's sales-office proviso)
“Owners, including off-site landlords, will be responsible for the actions of their Tenants and are to provide their Tenants with a copy of this Policy and Rule Manual. Owners are to provide a copy of this Policy and Rule Manual to their Rental Agent, if other than the on-site rental company.”Policy and Rule Manual revised Dec 2021, Introduction, page 2
“Members are asked to notify management of changes of address, phone numbers, rental status (owner occupied, tenant occupied, rental under a hotel management rental plan, etc.) in writing. It is essential that an up-to-date list of Tenants of hotel guest's rental program be maintained.”Policy and Rule Manual revised Dec 2021, Introduction, page 2
“Rental companies are required to provide identification tags to their guests which must be displayed by hanging the tags on the rear view mirror. The Association will acquire hanging tags from BCR, Inc. and distribute to homeowners who serve as their own rental agent.”Policy and Rule Manual revised Dec 2021, Parking Policy, page 6
“A copy of the written long-term rental or lease agreement must be filed with our Association Management Company at or before the beginning of each rental or lease period.”Policy and Rule Manual revised Dec 2021, Leased Units, page 10
“Long-term rentals are for a one-year period or longer.”Policy and Rule Manual revised Dec 2021, Leased Units, page 10
“Check Out: Established by the rental managers or unit owners.”Policy and Rule Manual revised Dec 2021, Guest Information, page 13
“All present or future owners, tenants, or any other person who might 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.”Master Deed, Article XXXV, page 25
“The amendment or amendments proposed must be approved by an affirmative vote of fifty-one (51%) percent of the Owners in order for such amendment or amendments to become effective.”Master Deed, Article XXXIII, page 23
“The Board may adopt, amend and repeal the Rules established herein as allowed by the governing documents. (Article XVII By-Laws)”Policy and Rule Manual revised Dec 2021, Introduction, page 2
“Renovation work was permitted in the off-season only (September 30 through April 1). Owners may replace appliances year-round.”2024 Annual Members' Meeting Minutes (March 9, 2024), Item 6.E Maintenance & Bulk Service Update, page 4
“Where a corporation is a Parcel Owner, the use of said recreational facilities shall be limited at any one time to such Officer, Director or employee of said Corporation who is in actual residence or possession of the UNIT and such individual shall be deemed to be the condominium Parcel Owner for the purposes of this paragraph.”Master Deed, Article XVI, page 8
“No owner of any UNIT shall permit or suffer anything to be done or kept in his UNIT, on the COMMON ELEMENTS or on the LIMITED COMMON ELEMENTS, which will increase the rate of insurance on the CONDOMINIUM, or which will obstruct or interfere with the rights of other occupants of the building or annoy them by unreasonable noises”Master Deed, Article XVIII, page 9
02

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 deed-guaranteed recreational facilities as owners and wristbands were dropped in 2021, but this is the guide's 'owner handles passes/keys' case: the owner must source parking hang tags through the Association from BCR, Inc. and handle keys, the front desk/key system belongs to the on-site operator with no check-in service promised to self-managed guests, the operator's game room/kids activities are unstated for them, renters cannot bring motorcycles or pets, and the indoor pool/spa area is closed.

Amenities for your guestsSame as program guests
Off limits to your guestsNone of the deed/manual recreational facilities are excluded; access to operator-run (BCR, Inc.) game room, kids activities, summer entertainment and banquet rooms by off-program guests is unstated, Indoor pool, spa/sauna and racquetball area closed for renovation as of Spring 2026 (racquetball court being converted to owner storage cages)
Wristbands & parking passesNo wristbands under the current (Dec 2021) manual - the Oct 2020 manual's pool wristband section (Association issued four bands per unit; self-renting owners requested more from the Association; rental companies issued bands to their guests) was deleted in the 2021 revision. Parking: every vehicle must display a tag/decal issued by the Rental Company or Association personnel; self-renting owners get hanging tags from the Association (sourced from BCR, Inc.); owners use an Association static-cling decal. Vehicles under 6'2" park above level 1 (white tag), 6'2" and taller on level 1 (red tag); two parking spaces per unit while in residence; parking fines $50/day (handicapped $100/day) added to the guest's final bill; fire-lane/dock violators towed at the vehicle owner's cost; tow within 30 minutes of notice to the front desk. Renters may not bring motorcycles/mopeds; golf carts banned for everyone. No cost for tags stated.
Check-inunstated for self-managed guests - the manual says check-out is set by the rental managers or unit owners, and the front desk/key system belongs to the on-site operator (BCR, Inc. / Vacation Myrtle Beach). Owners with keyless entry can have the on-site rental company open the unit; otherwise the Association holds an emergency key. The Rule Manual's Emergency Procedures list the Front Desk first for 'Owners, Tenants or Guests', and the 2026 letter directs anyone with an urgent in-unit issue (e.g., water leak) or noise/smoking complaints to any front desk person or the resort's main number. Amenity split per the Jan 2024 HOA Information Sheet: the HOA runs the pools, lazy river, outdoor areas, fitness room, shuffleboards, elevators, hallways, parking garage, security, trash chute and cable/WiFi; BCR, Inc. runs the lobby and front desk, key system, banquet rooms, restaurant and ice cream shop, kitchen, game room, kids activities, summer entertainment, guest laundry, linen chute and phone system - whether off-program guests may use the operator's game room, kids activities and summer entertainment is unstated.
TrashHOA maintains the trash chute and trash rooms for owners/guests (HOA Information Sheet p.2; trash removal is a budget line, $68,000 in 2026). Contractors may not use HOA trash rooms, chutes or compactor and must haul their own trash daily. No rule requires owners or guests to haul trash.
ElevatorsElevators are HOA common elements, replaced/upgraded in 2023 (~$1M). No service-elevator-only or vendor-elevator restriction stated; contractors must keep hallways, stairs and elevators clear of debris and may not use luggage carts for tools. Luggage carts are for owners/guests' personal effects only and must be returned immediately, never stored in a unit.
Housekeeping & linenHousekeeping, guest laundry and the linen chute belong to the on-site operator (BCR, Inc.) per the HOA Information Sheet; linen rooms and maid's closets are limited common elements of commercial unit C-3 under the Master Deed. Coin-operated guest laundry off the main corridor. Nothing requires self-managed owners to use the operator's housekeeping.
What the documents say (16)
“Where a party owns one Condominium UNIT and leases same, the lessee shall be entitled to the use of the recreational facilities and said lessee's rights thereto shall be the same as though said lessee were the UNIT Owner and during the term of lease, the UNIT Owner and his family shall not be entitled to the use of the recreational facilities.”Master Deed, Article XVI, page 8
“The recreational facilities include the swimming pools, the spas, the lazy river, the sauna, ocean front decking, the exercise room, shuffleboard court and the racquetball court.”Policy and Rule Manual revised Dec 2021, General Rules Pertinent to Recreational Facilities, page 5
“All homeowners and guests must wear the Association's pool wrist bands the entire time they are in the pool areas, effective March 15 to December 15 each year, depending which pool you are using.”Policy and Rule Manual revised Oct 2020 (SUPERSEDED - section deleted in the Dec 2021 revision), Wrist Bands for Pools and Spas, page 7
“Any vehicle parked in the parking garage, or in the parking areas at the front of the building, must have a parking tag/decal which has been issued by the Rental Company or Association personnel.”Beach Colony Resort Parking Rules (June 23, 2018), page 1
“The fine for parking violations will be $50.00 per day. The cost of any parking fine shall be added to the guest's final bill.”Beach Colony Resort Parking Rules (June 23, 2018), page 1
“Because of space limitations, each unit shall be limited to two (2) parking spaces while the owner or guest is in residence.”Policy and Rule Manual revised Dec 2021, Use of Parking Garage, page 12
“Renters cannot bring motorcycles or mopeds, or similar motorized vehicles, onto the property.”Policy and Rule Manual revised Dec 2021, Motorcycles/Mopeds, page 12
“Golf carts are not permitted by either an owner or a guest.”Policy and Rule Manual revised Dec 2021, Parking Policy, page 6
“Neither the unit owners' family members nor their guests are allowed to have pets on the common areas at any time.”Policy and Rule Manual revised Dec 2021, Pet Policy, page 6
“Please note: If the owner has a keyless entry system, access can be gained via the on-site rental company. (See Master Deed XIX)”Policy and Rule Manual revised Dec 2021, Access to Units, page 10
“Guests creating any sort of disturbances will be asked to vacate the premises.”Policy and Rule Manual revised Dec 2021, General Rules Pertinent to Recreational Facilities, page 6
“Throwing any objects from the balconies will result in immediate eviction.”Policy and Rule Manual revised Dec 2021, General Rules Pertinent to Recreational Facilities, page 6
“Do not use the HOA trash rooms, trash chutes, or compactor. You MUST haul your own trash off each day.”Policy and Rule Manual revised Dec 2021, Contractors and Subcontractors Rules and Regulations, item 8, page 9 (applies to contractors)
“As your on-site rental management company, we work side by side with your HOA Board and Ally Management to make our resort one of the most sought-after vacation destinations on the Grand Strand!”HOA Information Sheet (January 2024), page 2 (BCR, Inc. section)
“In the event of an emergency, Owners, Tenants or Guests may obtain assistance by calling one of the following: 1. The Front Desk 2. The Management Company, [phone withheld] 3. The Security Person on Duty 4. Police, Fire, Paramedics, 911”Policy and Rule Manual revised Dec 2021, Emergency Procedures, page 11 (phone number withheld)
“The first level in the parking garage is reserved for vehicles taller than 6'2". The Resort can be accessed from levels 3, 4, and 5 in the parking deck.”Policy and Rule Manual revised Dec 2021, General Rules Pertinent to Recreational Facilities, item 7, page 6
03

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.

No local-contact, response-time, guest-registration or trash-hauling rules for owners; the burdens are an emergency key/code deposit, distributing the rule manual and parking tags, scheduled preventive maintenance (water heater at 8-10 years, hoses, condensate line, dryer vents), liability for guest conduct and any deductible gap, and an off-season-only renovation window with registered contractors working 9-6 Monday-Saturday.

Local contactunstated - no local-contact or emergency-contact requirement for owners. The Association must hold a key or access code to every unit for emergencies; if a locksmith is needed the owner pays.
Response timeunstated - no owner response-time rule. Vehicles in fire zones are towed within 30 minutes of notice to the front desk; other parking violations get a one-hour warning sticker.
Locks & keysMaster Deed Art. XIX requires owners to deposit a key with the Association if required; the manual asks that a key or access code be provided to the Association office (kept in a lock box) whenever a lock is changed, except keyless systems, which the on-site rental company can open. Contractors must return unit keys to the Lobby Front Desk daily.
FinesNo general fine schedule. Specific amounts: pet violations from $100 per incident; parking $50/day (handicapped $100/day) added to the guest's final bill; towing at vehicle owner's cost; late fee $75 plus $15 administrative fee after 30 days, then $90 per month after 60 days plus collection attorney, lien at 90 days, foreclosure at 120 days; cable TV disconnected for non-payment with $25 reconnection fee; locksmith cost assessed to owner; bed-bug inspection/treatment, mattress covers/replacement and special cleaning charged to the unit owner with no compensation for lost rents. Owners are solely responsible for their tenants' and guests' conduct and financially liable for guest damage to Association property, including any insurance deductible gap. Throwing objects from balconies or discharging fireworks results in immediate eviction (and prosecution for fireworks).
Contractors & vendorsContractors must register with the rental desk (Attachment C: with the HOA Property Manager) before work; load/unload only out front; park in the garage by vehicle size; no propping doors; no luggage carts for tools; haul own trash daily; return keys to the front desk daily; repair any common-area damage; work hours 9:00 a.m.-6:00 p.m. Monday-Saturday only. Per the 2024 minutes, a renovation request form with contractor information goes to Ally Management, only licensed and insured contractors, and renovation work is permitted only in the off-season (September 30 through April 1); appliances may be replaced year-round. Structural modifications, balcony enclosures and any exterior change need written Association consent (Master Deed Art. XXI).
AlsoOwner must give every tenant and any outside rental agent a copy of the Rule Manual; owner responsible for in-unit HVAC, water heater (replace at 8-10 years), appliance hoses, toilets, condensate lines, dryer vents, keeping A/C running when vacant; owner pays repair costs from faulty equipment; HOA may enter and quarantine units for bed bugs; two-space parking limit while in residence and one vehicle on level 4 1/2 when away (with management authorization); no towels/clothing on balcony rails; no storage of bikes, strollers or chairs in hallways; owners may not opt out of the Master HO-6 per the 2021 manual, yet per the 2025 notice must now buy their own HO6. Master Deed Art. XX: owners must admit the Association's agents (and other owners' representatives) for common-element maintenance at reasonable times with reasonable advance notice. Art. XXV: if an owner fails to maintain the unit or alters it without consent, the Association may sue for an injunction, enter the unit, remove the work and levy the cost as a special assessment. Art. XXXIV.B: owners also bear any increase in fire-insurance rates caused by use, misuse, occupancy or abandonment of their unit. Art. XXXIV.C: the Association recovers its attorney's fees when it wins an enforcement action but an owner can never recover fees.
What the documents say (18)
“The Owner of the Unit is solely responsible for the conduct of his or her Tenants and Guests. Owners are financially liable for any damage to Association property caused by their Guests as well as themselves. Owners using a rental agent should make the agent aware of liability.”Policy and Rule Manual revised Dec 2021, General Rules Pertinent to Recreational Facilities, item 2, page 5
“The Master Deed requires the Association to maintain a key (or access code) to each unit for emergency access. When changing the lock on your unit (excludes the keyless entry system), the Board of Directors requests that a key (or access code) be provided to the office of the Association. The key will be kept in a lock box.”Policy and Rule Manual revised Dec 2021, Access to Units, page 10
“If a locksmith must be called to gain entrance to a Unit, the Owner will be assessed for the cost of that service.”Policy and Rule Manual revised Dec 2021, Emergency Procedures, page 11
“A late fee of $75 plus a $15 administrative fee is assessed after this thirty day period, and if not paid within sixty (60) days, an additional assessment of $90 per month is now levied and a collection attorney may be assigned the past due account. Unless some agreement is reached between the Board of Directors and the delinquent owner as to payments, after ninety (90) days, a lien against the property will take place. Foreclosure proceedings will be initiated after one hundred twenty (120) past due days has elapsed.”Policy and Rule Manual revised Dec 2021, Delinquency in Assessments, page 4
“Cable television service shall be disconnected to a unit for that unit owner's non-payment of an assessment. A $25.00 reconnection fee shall be paid by the owner, in addition to the payment of the full amount of the past due assessment including late fees and attorney fees, prior to the cable television service being reconnected.”Policy and Rule Manual revised Dec 2021, Cable Television Disconnect and Reconnect Policy, page 4
“Violations to any of the above will subject the violator to fines beginning at one hundred ($100.00) dollars per incident.”Policy and Rule Manual revised Dec 2021, Pet Policy, page 7
“Contractors must register with the rental desk before any work may begin. Failure to do so may preclude you or your company from working in the building or on this property in the future (See attachment B).”Policy and Rule Manual revised Dec 2021, Contractors and Subcontractors Rules and Regulations, item 1, page 8
“Permissible Work Hours are 9:00 a.m. - 6:00 p.m., Monday through Saturday only.”Policy and Rule Manual revised Dec 2021, Contractors and Subcontractors Rules and Regulations, item 12, page 9
“All keys must be returned to the Lobby Front Desk daily. Do not leave the property with unit keys, or you will be locked out of the unit being worked on.”Policy and Rule Manual revised Dec 2021, Contractors and Subcontractors Rules and Regulations, item 9, page 9
“Where an Owner causes damages to the Project and where that damage is covered by insurance acquired by the Association, but where that insurance is inadequate to cover the total cost of repair or replacement or there is a deductible, the Owner causing the damage will be responsible for payment up to the extent of the deficiency in coverage (includes insurance deductible).”Policy and Rule Manual revised Dec 2021, Owner Liability, page 11
“The Owner or Owners of each UNIT shall be liable for the expense of any maintenance, repair or replacement rendered necessary by his act, neglect or carelessness, or by that of any member of his 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 ASSOCIATION.”Master Deed, Article XXXIV.B, page 24
“Vehicles improperly parked in fire zones, out front or in the parking garage will be towed within thirty (30) minutes of the notice being made to the front desk, who have the responsibility to immediately contact the guest or owner.”Policy and Rule Manual revised Dec 2021, Security Towing Policy, page 9
“Bed Bug elimination charges for the inspection and treatment of infected unit(s) shall be the unit owner's responsibility.”Policy and Rule Manual revised Dec 2021, Treatment of Bed Bugs - Payment Responsibility, page 14
“In case of any emergency originating in or threatening any UNIT, regardless of whether the owner is present at the time of such emergency, the Board of Directors of Association or any other person authorized by it, or the building Superintendent or Managing Agent, shall have the right to enter such UNIT for the purpose of remedying or abating the cause of such emergency, and such right of entry shall be immediate, and to facilitate entry in the event of any such emergency, the owner of each UNIT, if required by the ASSOCIATION, shall deposit under the control of the ASSOCIATION a key to such UNIT.”Master Deed, Article XIX, page 9
“Since the power to operate these pieces of equipment is paid for by the Association, but the equipment is owned by the unit owner, it is necessary that owners ensure their equipment is properly maintained for efficient operation.”Policy and Rule Manual revised Dec 2021, HVAC and Water Heater Summary, page 7
“In lieu thereof and in addition thereto, the ASSOCIATION shall have the right to levy an assessment against the Owner of a UNIT, and the UNIT, for such necessary sums to remove any unauthorized addition or alteration and to restore the property to good condition and repair.”Master Deed, Article XXV, page 11
“In any proceeding arising because of an alleged default by the Owner of any UNIT, the ASSOCIATION, if successful, shall be entitled to recover the costs of the proceedings, and such reasonable attorney's fees as may be determined by the Court, but in no event shall the Owner of any UNIT be entitled to such attorney's fees.”Master Deed, Article XXXIV.C, page 24
“Whenever it is necessary to enter any UNIT for the purpose of performing any maintenance, alteration or repair to any portion of the COMMON ELEMENTS or LIMITED COMMON ELEMENTS, the owner of each UNIT shall permit other owners or their representatives, or the duly constituted and authorized Agent of ASSOCIATION, to enter such UNIT, provided that such entry shall be made only at reasonable times and with reasonable advance notice.”Master Deed, Article XX, page 9
04

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.

Quarterly dues are flat 2022-2026 and inclusions are strong (in-unit electric, cable, internet, water, trash, pest), but the separately billed insurance assessment is budgeted at $850,000 for 2026 (28.7% of budget, +49% on 2025) after the insured value rose to ~$89M, reserve contributions fell to $374,000 (12.6%) while a $2-2.5M parking-garage program and an unfinished indoor pool have no funding plan, reserves can be spent at Board discretion, and owners must now carry their own HO-6 against a $500,000 named-storm deductible.

2026 budget$2,964,674
Dues change+0.0% on the year
Reserves13% of budget
Reserve balance$2,000,000
Reserve studyOn file
Special assessments2026 $850,000 budgeted total (up from $570,000 budgeted / $551,590 actual in 2025); per-unit amounts to be billed after renewal premiums are received, in four monthly installments instead of the usual three RECURRING ANNUAL INSURANCE ASSESSMENT - separate from quarterly dues by design; funds the property, liability and flood policies. The 2026 increase stems from the insured-value appraisal rising from about $56M to about $89M (property rates themselves fell ~24%).; 2025 $551,590 total; three installments due 7/1/25, 8/1/25, 9/1/25 (or one payment). Per unit: hotel suite approx. $630 x 3 = $1,890 (OCR-garbled row, equals the Commercial #2/#3 figure at the same 0.003425 share); 2BR oceanview $790 x 3 = $2,370; 2BR oceanfront $958 x 3 = $2,874; 1BR lockout $378 x 3 = $1,134; 3BR $1,184 x 3 = $3,552; 4BR $1,335 x 3 = $4,005; Commercial #1 $1,260 x 3 = $3,780; Commercial #2/#3 $630 x 3 = $1,890; Commercial #4 $2,148 per installment RECURRING ANNUAL INSURANCE ASSESSMENT after the April 10, 2025 property renewal ('terms remained essentially unchanged').; 2024 $680,000 budgeted (estimated $680,379 by unit type): hotel suite $777 x 3 = $2,331 (2023: $556 x 3); 2BR oceanview $974 x 3; 2BR oceanfront $1,180 x 3; 1BR lockout $466 x 3; 3BR $1,460 x 3; 4BR $1,646 x 3 RECURRING ANNUAL INSURANCE ASSESSMENT (2024 budget page 2); board had expected a 30-40% premium increase at the January 2023 meeting.; 2023 $487,185 recognized (budget $551,521); 2022: $400,239 RECURRING ANNUAL INSURANCE ASSESSMENT per audited FY2023 statements, note 9.; 2026 Not yet levied - engineer's rough estimate $2 to $2.5 million for parking garage maintenance/repairs to be addressed within the next couple of years; board 'does not have enough information currently to determine how best to financially address this need' and mentions spreading it out over time and/or financing PENDING/POSSIBLE capital funding for the 40-year-old parking garage (Spring 2026 letter); reserves of a little over $2M with $374k/yr contributions would not cover it alongside the unfinished indoor pool project (~$150,000 spent to date, remaining wall-repair quotes pending).; 2026 Optional ~$400 per year Rental fee for one of 74 climate-controlled owner storage cages (lottery if oversubscribed), offsetting the $43,000 cage cost and the new fitness room - not an assessment.; 2023 No special assessment, but reserve spending of $1,120,057 in 2023 and $1,113,510 in 2022 (elevators, waterproofing, boardwalk, turf, pool/hot-tub piping); reserve cash fell from $2,567,241 (12/31/2022) to $2,260,664 (12/31/2023), and audited accumulated reserve funds net of the cell-tower deferred revenue were $326,065 Context for reserve adequacy: the two-year capital program was funded from reserves plus the 2022 cell-tower lump sum rather than a special assessment (FY2023 audited statements p.13-16, notes 7 and 10).
InsuranceThree HOA policies are funded by a separate annual insurance assessment, not quarterly dues (see special_assessments): (1) property - 'walls-in' replacement cost, total insured value $51,875,112 (building & garage $51,270,218; indoor pool $54,005; racquetball court $45,000; south amenities $297,467; north amenities $108,422; personal property $100,000), policy 4/10/2025-4/10/2026 with General Security Indemnity Co. of Arizona / Lloyds of London as property carriers, plus Hartford Steam Boiler equipment breakdown ($5,000 ded.) and a Travelers crime policy; (2) liability - Scottsdale Insurance Co. CGL $1,000,000 per occurrence / $2,000,000 aggregate, umbrella (Scottsdale) and excess (Steadfast) layers whose limits are not reliably legible in the OCR, Federal Insurance Co. D&O $3,000,000 ($10,000 ded.), Pennsylvania Manufacturers workers' comp; broker McGriff (USI in 2023); (3) flood as above. Budget insurance expense line: $551,521 (2023) -> $680,000 (2024) -> $570,000 (2025) -> $850,000 (2026); audited insurance expense $407,311 (2022) and $466,311 (2023). HO-6: the Dec 2021 Rule Manual and the undated Insurance Explanation say the HOA carries a mandatory master HO-6 for all 240 residential units, but the June 1, 2025 notice states 'the HOA does not provide a blanket HO6 policy ... owners should obtain personal HO6 coverage' and the 2024 broker urged owners to review their own HO-6 with wind/hail - assume you must carry your own HO-6 (contents, loss of rents, liability, upgrades). Owners who cause damage pay any deductible gap. Spring 2026: board expected up to a 40-45% increase before learning property rates fell 24%; overall cost 'will still increase significantly'. DEED VS CERTIFICATE: Master Deed Art. XXVII(a) requires the Association's casualty policy to cover 'all of the UNITS, COMMON ELEMENTS and LIMITED COMMON ELEMENTS' at full replacement value, while the 2025 certificate describes the property policy as 'Walls In' - so in-unit finishes/upgrades and contents are, in practice, on the owner (Art. XXVI makes contents and in-unit liability insurance optional at the owner's expense). CASUALTY SHORTFALLS: Art. XXVII says that if proceeds are insufficient to repair damaged UNITS the Association levies the shortfall on the owners of the damaged units in proportion to their repair cost, and a shortfall on common elements is levied on all owners (first from reserves, then by assessment); with a $500,000 named-windstorm deductible a hurricane claim can therefore produce a unit-level assessment. Reconstruction is not compulsory if more than two-thirds of the property is destroyed (owners and mortgagees would then split proceeds). Institutional first mortgagees may approve the carriers and amounts. The flood declarations show zero prior NFIP claims and a Community Rating System discount. Audited insurance expense was $407,311 (2022) and $466,311 (2023) against insurance assessments of $400,239 and $487,185.
Wind deductible2025-26 property policy: $500,000 Named Windstorm and Hail per occurrence; $100,000 all other windstorm & hail per occurrence; $50,000 water damage per occurrence; $10,000 all other perils; 2% earthquake per unit per occurrence ($25,000 minimum). (2023-24 policy had named windstorm 3% subject to $100,000 minimum, other wind/hail $50,000.)
FloodNFIP RCBAP through American Bankers Insurance Company of Florida, policy term 5/28/2025-5/28/2026: $60,000,000 building limit and $100,000 contents, $1,250 deductible, total premium $43,226 (2023-24: $37,230); Flood Zone VE per the 2023 evidence of insurance; building is 'elevated with enclosure'. The broker told the 2024 annual meeting that owners on higher floors do not need their own flood policy. Declarations show 'Prior NFIP Claims: 0 claim(s)'.
DelinquencyFY2023 audit: allowance for doubtful accounts $61,639 at 12/31/2023 ($23,849 at 12/31/2022); net bad debt expense $36,927 (2023) and $23,849 (2022); assessments receivable net $15,585 at year-end 2023. Unaudited 1/31/2024: regular assessments receivable $89,270, homeowner repair receivables $12,665, insurance assessments receivable $10,434 (vs $152,968 receivable at 1/31/2023). Policy: legal counsel retained and liens placed at 90 days delinquent; foreclosure at 120 days; late fee $75 + $15, then $90/month; cable cut-off. Master Deed: default interest at the highest lawful rate or 10%, acceleration, lien foreclosure with receiver and rental recovery; purchaser at foreclosure not liable for prior delinquency (absorbed as common expense); voluntary grantee jointly liable for seller's unpaid assessments. Payment mechanics: assessments may be paid in monthly or quarterly installments (Rule Manual p.3); a quarterly payment is late unless RECEIVED AND POSTED at the lockbox in Las Vegas, NV by the last business day of the due month - hand-delivery to the local office on the last day does not avoid the late fee (Rule Manual p.4); Ally Management offers an ACH draft that also drafts the insurance assessment (Insurance Assessment Notice June 2025 p.2). Master Deed Art. XXX.G: payment is in default the day after the due date, the Board may accelerate the whole annual assessment on 10 days' notice, and enforcement (including foreclosure) may begin 20 days after the due date.
What the documents say (39)
“At Beach Colony, we have two types of regular assessments, regular maintenance assessment paid quarterly and insurance assessment paid starting in June for 3 months when the Association receives its correct insurance renewals. At the current time, it is the policy of this Association to fully fund (100%) the anticipated reserves for future replacement of capital equipment.”Policy and Rule Manual revised Dec 2021, Regular Assessments, pages 3-4
“The HOA purchases three types of insurance on behalf of the resort and for all units/owners. The assessments for purchasing these insurance policies are paid separate from your quarterly assessments. These insurance assessments are due June 1, July 1 and August 1 or can be paid in one payment.”Insurance Explanation, page 1
“Insurance assessments are not included in the Association's regular assessments by design.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 9 - Insurance Assessments, page 20
“Since the HOA does not provide a blanket HO6 policy (general liability in unit, loss of use/rent, personal items, etc.) for individual unit owners, owners should obtain personal HO6 coverage.”Insurance Assessment Notice (June 1, 2025), page 1
“We are pleased to announce that the Association successfully renewed its property policy on April 10, 2025. The renewal terms remained essentially unchanged, with no significant increases in costs.”Insurance Assessment Notice (June 1, 2025), page 1
“Total Insurance Assessment Amount: $551,590”Insurance Assessment Notice (June 1, 2025), 2025 Insurance Assessment Computation, page 1
“*Deductibles: $10,000 All Other Perils Per Occurrence Except: $50,000 Water Damage Per Occurrence $500,000 Named Windstorm and Hail Per Occurrence $100,000 All Other Windstorm & Hail Per Occurrence 2% Earthquake Per Unit Per Occurrence/$25,000 Minimum Per Occurrence”Insurance Assessment Notice (June 1, 2025) - Certificate of Property Insurance, page 4
“Flood: American Bankers Ins Co of FL - Policy #6003578777 - 5/28/2025-5/28/2026; $60,000,000 Building Limit; $1,250 Deductible”Insurance Assessment Notice (June 1, 2025) - Certificate of Property Insurance, page 4
“The Master HO-6 Policy will be an Association expense and will apply to all 240 residential units, thus relieving each unit owner of the task of acquiring his or her individual policy.”Policy and Rule Manual revised Dec 2021, Owner Liability, page 10
“A homeowner may not opt out of the Master HO-6 Policy.”Policy and Rule Manual revised Dec 2021, Owner Liability, page 11
“She explained the two HO-6 values: 1) blanket and 2) upgrades. She next encouraged owners to revisit their HO-6 policy to ensure they had adequate coverage for any upgrades in their units.”2024 Annual Members' Meeting Minutes (March 9, 2024), Item 6.B Insurance Summary, page 2
“2026 Insurance Assessments will be billed after renewal premiums have been recevied”2026 Operating Budget approved 10/13/2025, page 1, footnote under the dues breakdown
“In a previous update we indicated that our resort insurance could go up 40-45% vs last year primarily due to the increased appraisal of the value of our resort. The resort value increased from around $56m to around $89m.”Spring 2026 Update letter, Item 4 Resort Insurance, page 2
“By reminder, the payment for this insurance is not included in your standard quarterly assessments. The resort insurance is billed separately by the HOA and for this year will be done over four months instead of the usual three-month installments.”Spring 2026 Update letter, Item 4 Resort Insurance, page 2
“Currently, we have a little over $2m in our reserve and are adding about $374k per year. The board does not have enough information currently to determine how best to financially address this need. There are possibilities to spread some of this out over time, and/or finance some of this need or other options.”Spring 2026 Update letter, Item 2 Parking Deck Repairs, page 2
“[The engineer] gave a very rough estimate of $2 to $2.5 million in costs and about six months to complete if all work is done at once.”Spring 2026 Update letter, Item 2 Parking Deck Repairs, page 1 (engineer's name withheld)
“So far, the total amount of money paid to date for all the work performed is around $150,000. This includes a deposit towards the new pool flooring and pool resurfacing, new storefront windows already installed, and wall repair/rebuild in a portion of the indoor pool. We are awaiting additional quotes for the remaining work related to wall repairs.”Spring 2026 Update letter, Item 1 Indoor Pool Renovation and Repairs, page 1
“The good news is we have recently completed major upgrades to include replacing our 40-year-old elevators with a cost of $1m, resealing and repairing the outside of the entire resort for $1m. Now it is time to address our ageing parking garage.”Spring 2026 Update letter, Item 2 Parking Deck Repairs, page 2
“Accumulated net funds, which total $326,065 at December 31, 2023 and $776,581 (including $32,629 due from the operating account) at December 31, 2022 is presented on the accompanying balance sheet as a contract liability (assessments received in advance - reserve fund) and are held in separate accounts and generally not available for operating purposes.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 7 - Major Repairs and Replacements, page 19
“In 2022, the Association entered into a ninety-nine (99) year agreement to sell telecommunication equipment which is located within the common areas of the Association. The agreement called for the Association to receive a gross lump-sum payment of $1,801,652, which will be recognized as cell tower agreement revenue over the life of the agreement.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 10 - Deferred Revenue - Cell Tower Agreement, page 20
“The following is based on a study performed by an outside engineering firm in a prior year and presents significant information about the components of common property.”2024 Annual Meeting Packet - Supplementary Information on Future Major Repairs and Replacements (un-audited), 12/31/2023, page 23 (estimated current replacement costs total $7,000,235; elevators $1,959,000, building exterior $1,672,078, building mechanical $1,414,220, parking garage $195,400)
“At December 31, 2023 and 2022, the Association recognizes an allowance for doubtful accounts of $61,639 and $23,849, respectively, which has been netted against assessments receivable as presented on the balance sheet. For the years ended December 31, 2023 and 2022, the Association recognizes net bad debt expense of $36,927 and $23,849, respectively, which is presented on the statements of revenues and expenses and changes in fund balances.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 8 - Assessments & Allowance for Doubtful Accounts, page 20
“Regular quarterly assessments to the residential unit owners ranged from $1,056 to $3,309 in 2023 and 2022. Regular quarterly assessments to the commercial unit owners ranged from $1,760 to $6,004 in 2023 and 2022.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 8, page 20
“The Board is expecting an increase around 30-40%. It was noted that the building insurance will be combined with the 2024 Operating Budget and Ally Management will be working to build funds in an insurance escrow account.”Board Meeting Minutes January 13, 2023, Item 7.C Building Insurance Renewal, page 3
“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.”Master Deed, Article XXX.C, page 18
“Notwithstanding the foregoing, the Owner(s) of the commercial Unit(s) shall be billed separately by the ASSOCIATION for the actual cost of utilities consumed by their UNITS.”Master Deed, Article XXX.A, page 18
“By reminder, these cages will be made available to owners at a rental fee of around $400/year. The fees are to cover the costs for the cages, maintenance and upkeep of the cage area and to offset costs for the new fitness room in the main hallway.”Spring 2026 Update letter, Item 5 Climate-controlled Storage Lockers, page 3
“Reserve - Investment CD's with Schwab Account 1,002,017”2024 Annual Meeting Packet - Reserve Balance Sheet as of 1/31/2024 (unaudited), page 26 (total reserve assets $2,075,834; deferred cell tower lease $1,780,420; reserve equity $283,929)
“However, these funds may be used, as needed, for any Association purpose at the discretion of the Board of Directors.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 7 - Major Repairs and Replacements, page 19
“The estimates for current replacement costs include no provision for the future effects of inflation. Actual expenditures, however, may vary from the estimated amounts and the variations may be material. Therefore, amounts designated for future repairs and replacements may not be adequate to meet future needs.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 7 - Major Repairs and Replacements, page 19
“(a) casualty insurance covering all of the UNITS, COMMON ELEMENTS and LIMITED COMMON ELEMENTS, in an amount equal to the maximum insurance replacement value thereof, exclusive of excavation and foundation costs, as determined annually by the insurance carrier”Master Deed, Article XXVII(a), page 12
“"Walls In" & Ordinance or Law Per Policy Form Replacement Cost Valuation Coinsurance: N/A”Insurance Assessment Notice (June 1, 2025) - Certificate of Property Insurance, page 4, Description of Operations
“If the proceeds of said casualty insurance are sufficient to pay for the repair, replacement or reconstruction of any loss of or damage to COMMON ELEMENTS and LIMITED COMMON ELEMENTS, but should the same not be sufficient to repair, replace or reconstruct any loss of or damage to any UNIT or UNITS, then ASSOCIATION shall levy and collect an assessment from the owner or owners of the UNIT or UNITS sustaining any loss or damage”Master Deed, Article XXVII, page 15
“The owner of each UNIT may, at his own expense, obtain insurance coverage for loss of or damage to any furniture, furnishings, personal effects and other personal property belonging to such owner and may, at his own expense and option, obtain insurance coverage against personal liability for injury to the person or property of another while within such owner's UNIT”Master Deed, Article XXVI, page 12
“When in default, the Board of Directors may accelerate the remaining installments of the annual assessment or maintenance fee upon notice thereof to the UNIT owner, whereupon the entire unpaid balance of the annual assessment or maintenance fee shall become due upon the date stated in the notice, which shall not be less than ten (10) days after the date of the notice.”Master Deed, Article XXX.G, page 19
“The payment is considered past due if not received and posted at the lock box in Las Vegas, NV by the last business day of the that month. A homeowner delivering an assessment check to the Office of the Association in Myrtle Beach on the last day, or near the last day, of that month does not relieve the homeowner of the responsibility of the payment being received and posted in Las Vegas, Nevada in time to avoid a late fee/delinquency fee.”Policy and Rule Manual revised Dec 2021, Delinquency in Assessments, page 4
“Owners who are enrolled in Ally Management's ACH draft program will not receive a payment coupon. Your assessment will be drafted in July, August, and September along with your quarterly dues payment, unless you notify the Association Office with another desired payment option.”Insurance Assessment Notice (June 1, 2025), page 2
“Building and other common property repairs & replacements - 1,120,057 1,120,057 1,113,510”2024 Annual Meeting Packet - audited financial statements FY2023, Statement of Revenues and Expenses, Major repairs and replacements line, page 15 (2023 and 2022 columns)
“Cash & cash equivalents, beginning of year 951,904 2,567,241 3,519,145 2,369,558 Cash & cash equivalents, end of year $ 1,007,739 $ 2,260,664 $ 3,268,403 $ 3,519,145”2024 Annual Meeting Packet - audited financial statements FY2023, Statement of Cash Flows, page 16 (operating / reserve / 2023 total / 2022 total)
05

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 five-member board, expired developer rights, a 51% amendment threshold and no arbitration clause, but four commercial units hold deed-protected rental-office, restaurant/bar, signage and easement rights that the Association may not limit, a commercial-unit owner sits on the board, the on-site operator also performs the HOA's maintenance and controls the front desk/key system, the Board alone writes the rules, and a Board-appointed committee is now reviewing the 1985-86 governing documents.

StructureOne association
Commercial unitYes, with its own deed rights
On-site operatorBCR, Inc. (on-site rental management company per the Jan 2024 information sheet); the front-desk rental program is referred to as Vacation Myrtle Beach in the 2024 minutes and 2026 letter
BoardFive directors (five named in the 2023 and 2024 meetings), elected by the members at the March annual meeting for two-year staggered terms (three seats in 2023, two in 2024); proxies accepted; quorum met with 59% (2023) and 54% (2024) represented. Board employs a full-service management company (Ally Management, Inc. since 12/31/2022). Owners may address the Board by submitting their name and topic in writing a week before a meeting. A commercial-unit owner served on the Board in 2024.
Developer rightsExpired. Grantor (Chicora II, Inc.) could appoint a majority of the Board while owning three or more units and could add Phase II, both ending no later than April 1, 1996; Phase II was added in 1995. Grantor's reserved sales/marketing rights ended when all units were conveyed.
Commercial-unit rightsStrong, deed-level: the four commercial units may be used as an office for general rentals, management and sales serving the resort and unrelated properties, plus restaurant, lounge, bar and grill, game room and other commercial uses (Art. XVI); they hold easements over all common and limited common elements for their activities and may erect reasonable signs on common elements (Art. IX); the Association may take no action that would limit the commercial units from carrying on their permitted activities (Art. XIV); commercial owners may alter their units without Board consent if non-structural (Art. XXI); linen rooms, maid's closets and vending areas are limited common elements of C-3. These rights do not give the operator a monopoly - the Master Deed expressly permits nightly rental by any owner and the rules recognize self-renting owners and outside agents. The on-site operator also runs the front desk, key system, housekeeping, F&B and since 2023 the HOA's common-area maintenance. Also: commercial units are exempt from the Master Deed's ban on subdividing units (Art. VII); they pay regular assessments by percentage interest but are billed separately for actual utilities (Art. XXX.A); and the limited common elements of C-3 (linen rooms, maid's closets, vending areas) may be used for 'storage, supply, maid service, laundry, vending machines, restaurant, lounge, game room and other commercial uses' (Art. XVII).
VotesOne voting member per unit; each unit's vote equals its Exhibit B percentage interest (hotel suite 0.003425, 2BR oceanview 0.004296, 3BR 0.006438, 4BR 0.007260, 2BR oceanfront 0.005205, 1BR lockout 0.002055; commercial 0.003425-0.011682); vote not divisible. Members adopt an annual IRS Revenue Ruling 70-604 excess-income resolution.
Changing the deedMaster Deed: proposal by majority of the Board or members owning a majority of units, special meeting within 20-60 days, approval by 51% of the Owners (Art. XXXIII); percentage interests/assessment basis and termination require unanimous owners and mortgagees. Rules: Board adopts/amends under Article XVII of the By-Laws (By-Laws not supplied). Spring 2026: a Board-appointed Governing Documents Review Committee is reviewing the Master Deed, By-Laws and Policies and Rules with HOA attorney involvement; changes could follow. Master Deed Art. XXXIX: the S.C. Horizontal Property Act controls over any conflicting Master Deed provision. Art. XXXVII: lenders holding a unit mortgage are entitled to the annual financial statement within 90 days of year-end.
Disputes or lawsuitsNo arbitration or mediation clause anywhere in the Master Deed; disputes go to court. Art. XXXIV: remedies include damages, injunction and lien foreclosure; the Association recovers costs and attorney's fees when successful, but 'in no event shall the Owner of any UNIT be entitled to such attorney's fees' (one-way fee shifting). None material disclosed. FY2023 audit note 5: party to routine collection and covenant-compliance actions, not material; possible ordinary claims (slip and fall) believed covered by insurance. No litigation mentioned in the 2023-2024 minutes or the Spring 2026 letter. Ongoing issues: indoor pool renovation delayed by cracked non-load-bearing walls (engineer and contractor engaged; walls and parking deck confirmed structurally sound); hurricane water intrusion in the '00 stack balconies (2023); balcony tile deterioration being addressed; owner input prompted the governing-documents review.
What the documents say (19)
“Provided, however, that no action shall be permitted which would limit the owners of the COMMERCIAL UNIT(S) from carrying on its permitted activities.”Master Deed, Article XIV, page 7
“Provided the COMMERCIAL UNIT(S) may be used as an office for the purpose of general rentals, management, sales, uses to serve Phase I, Phase II (if added) and/or other unrelated properties as well as a restaurant, lounge, bar and grill, game room and other commercial uses.”Master Deed, Article XVI, page 8
“The owner of the COMMERCIAL UNIT may also erect such signs as it may choose on the COMMON ELEMENTS to advertise its permitted activities, so long as they are reasonable in size and design.”Master Deed, Article IX, page 5
“An Owner of a COMMERCIAL UNIT may, without consent of the Board of Directors of the ASSOCIATION, make such changes in the COMMERCIAL UNIT (including the LIMITED COMMON ELEMENTS appurtenant thereto) as it deems advisable so long as such change does not affect the structural integrity of the building in which they are located.”Master Deed, Article XXI, page 10
“Each Owner or group of Owners shall be entitled to a vote equal to the percentage ownership of COMMON ELEMENTS and LIMITED COMMON ELEMENTS as reflected in Exhibit B of the Master Deed. The vote of a Condominium Unit is not divisible.”Master Deed, Article XV, page 7
“An amendment or amendments to this Master Deed may be proposed by the Board of Directors of ASSOCIATION acting upon a vote of the majority of the Directors, or by the members of ASSOCIATION owning a majority of the UNITS in the CONDOMINIUM, whether meeting as members or by instrument in writing signed by them.”Master Deed, Article XXXIII, page 22
“This Master Deed and said Plan of Condominium Ownership may only be terminated by the unanimous consent of all of the owners of all UNITS and all of the parties holding mortgages, liens or other encumbrances against any of said UNITS, in which event the termination of the CONDOMINIUM shall be by such plan as may be then adopted by said Owners and parties holding any mortgages, liens or other encumbrances.”Master Deed, Article XXXI, page 22
“The power of the Owner to designate Directors as above referred to shall terminate on the 1st day of April, 1996, or upon the sale of all UNITS in Phases I and II, whichever occurs first.”Master Deed, Article XXXVI, page 25
“Following the tabulation of the ballots and proxies, it was reported that [three nominees] had been elected to serve two (2) year term positions on the Board.”2024 Annual Meeting Packet - 2023 Annual Members' Meeting Minutes (March 11, 2023), Item 7 Election of Directors, page 4 (names withheld)
“It was announced that 54% of the membership was represented in person and by proxy, and therefore the quorum requirement for the meeting had been met.”2024 Annual Members' Meeting Minutes (March 9, 2024), Item 4, page 1
“The Association is a party to various legal actions normally associated with homeowner associations, such as the collection of delinquent assessments and covenant compliance matters, the aggregate effect of which, in management's opinion, would not be material to the future financial condition of the Association.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 5 - Contingencies, page 19
“Based on recent owner input, it has been suggested to create a committee to review our Master Deed, By-Laws and Policies and Rules documents. These documents define how the HOA must manage and govern itself. The original documents were created in 1985 by the original developer and have not had any significant review or updates and many years.”Spring 2026 Update letter, Item 3 Governing Documents Review Committee, page 2
“Given this guidance, the Board agreed to create the committee.”Spring 2026 Update letter, Item 3 Governing Documents Review Committee, page 2
“[The President] shared that 2023 was the first full year of Vacation Myrtle Beach doing the common area maintenance for the HOA.”2024 Annual Members' Meeting Minutes (March 9, 2024), Item 6.D Status of Beach Colony Resort, page 3 (name withheld)
“[The engineer] indicated that the issues regarding the cracks are in walls that are NOT load bearing. The parking deck and indoor pool areas are structurally sound.”Spring 2026 Update letter, Item 1 Indoor Pool Renovation and Repairs, page 1 (name withheld)
“Effective December 31, 2022, the Association's contract with its former management company ended and the Association hired Ally Management, Inc. as their new property management company.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 12 - Management Company, page 21
“Failure to comply with any of the terms of this Master Deed or other restrictions and regulations contained in the Articles of Incorporation, By-Laws of ASSOCIATION, or its rules and regulations, shall be grounds for relief which may include without intending to limit the same, an action to recover sums due for damages, injunctive relief, foreclosure of lien or any combination thereof and which relief may be sought by ASSOCIATION, or, if appropriate, by an aggrieved owner of a UNIT.”Master Deed, Article XXXIV.A, page 24
“This prohibition against subdividing shall not apply to any commercial Unit in Phase I or any subsequent Phase.”Master Deed, Article VII, page 4
“Owner and Tenant rosters, excluding phone numbers and emails, are available to Owners for a purpose reasonably related to such person's interest as an association member, but not for any commercial purpose.”Policy and Rule Manual revised Dec 2021, Introduction, page 2
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

  • Nightly rentals are expressly protected by the Master Deed; only timeshare/interval ownership is barred (Master Deed, Art. XVI p.8).
  • No requirement to use the on-site rental program: the rules explicitly provide for 'homeowners who serve as their own rental agent' and for a 'Rental Agent, if other than the on-site rental company' (Policy and Rule Manual Dec 2021, p.2 and p.6).
  • No minimum stay, renter age, occupancy cap, advertising or disclaimer rule appears anywhere in the current rules or Master Deed (Policy and Rule Manual Dec 2021; Master Deed).
  • Short-term guests need no HOA registration; only leases of one year or longer must be filed with management (Policy and Rule Manual Dec 2021, Leased Units p.10).
  • Your guests get the same recreational-facility rights as an owner under the deed, and the pool wristband regime of the 2020 manual was dropped in the current 2021 revision (Master Deed Art. XVI p.8; Rule Manual Oct 2020 p.7-8 vs Dec 2021).
  • Regular quarterly dues have been flat from 2023 through 2026 ($1,760/qtr hotel suite, $2,208 2BR oceanview, $3,309 3BR) (Budgets 2024 p.2, 2025 p.1, 2026 p.1).
  • Dues cover in-unit electricity (the Association pays the power for owners' HVAC and water heaters), cable TV, internet/WiFi, water/sewer, trash chute and pest control - low owner utility overhead for a rental (Policy and Rule Manual Dec 2021 p.7; Budget 2026 p.1; HOA Information Sheet p.1-2).
  • Big-ticket capital work is already done: elevators replaced (~$1M, 2023) and the whole exterior resealed/waterproofed (~$1M), plus Trex boardwalk, turf, pool heaters and hot tub piping (Spring 2026 Update p.2; 2024 Annual Minutes p.3-4; Board Minutes Jan 13, 2023 p.2-3).
  • Owner-elected five-member board with two-year terms and healthy 54-59% quorums; developer control ended in 1996 (Master Deed Art. XXXVI p.25; Annual Meeting Packet p.2, p.4; 2024 Annual Minutes p.1).
  • A $1.8 million cell-tower lease buyout (2022) was banked in the reserve fund, and the FY2023 audit carried a clean opinion with all cash FDIC-insured (Annual Meeting Packet notes 4 and 10, p.18 and p.20; 2024 Annual Minutes p.2).
  • Ordinary 51%-of-owners amendment threshold and no deed-level rental monopoly for the commercial units (Master Deed Art. XXXIII p.23; Art. XVI p.8).
  • Front desk staff take urgent in-unit issues (e.g., water leaks) and noise/smoking reports, the Rule Manual lists the Front Desk first as the emergency contact for 'Owners, Tenants or Guests', and the front desk can open keyless-entry units - a useful backstop for a remote host, though no formal service to off-program guests is promised (Spring 2026 Update p.4; Policy and Rule Manual Dec 2021, Emergency Procedures p.11 and Access to Units p.10).
  • Insurance market news is improving: the April 2025 property renewal was 'essentially unchanged' and 2026 property rates fell about 24% (Insurance Assessment Notice June 1, 2025 p.1; Spring 2026 Update p.2).
  • No arbitration clause and an ordinary court remedy; the Association's own audit calls its legal exposure routine collection and covenant matters, not material (Master Deed Art. XXXIV p.24; Annual Meeting Packet note 5 p.19).
  • Assessments can be paid monthly instead of quarterly and the manager offers an ACH draft that also covers the insurance assessment, which smooths cash flow for a rental (Policy and Rule Manual Dec 2021 p.3; Insurance Assessment Notice June 1, 2025 p.2).
  • The NFIP flood policy shows zero prior flood claims and a Community Rating System discount, and the 2022-23 elevator/waterproofing program was paid from reserves and the cell-tower lump sum rather than a special assessment (Insurance Assessment Notice 2025 p.6; Annual Meeting Packet p.15-16, notes 7 and 10).

Watch-outs

  • The separately billed annual insurance assessment is large and volatile: $400,239 (2022) -> $487,185 (2023) -> $680,000 budget (2024) -> $551,590 (2025) -> $850,000 budgeted for 2026 (+49%), driven by the insured-value appraisal rising from ~$56M to ~$89M; a hotel suite paid ~$1,890 in 2025 on top of $7,040 in dues, and 2026 will be billed over four months (Budget 2026 p.1; Insurance Assessment Notice June 1, 2025 p.1; Spring 2026 Update p.2; Annual Meeting Packet note 9 p.20).
  • A $2-2.5 million parking-garage repair program is needed 'within the next couple of years' with no funding decision; the board floated spreading it out or financing, so a special assessment or loan is a live possibility (Spring 2026 Update p.1-2).
  • Reserve funding is shrinking - $560,035 (2024) -> $459,511 (2025) -> $374,000 (2026, 12.6% of budget) - while audited accumulated reserve funds were only $326,065 at 12/31/2023; the ~$2.1-2.3M of reserve cash includes ~$1.78M of up-front cell-tower proceeds, and the un-audited component schedule puts replacement costs at $7,000,235 (Budgets 2024-2026; Annual Meeting Packet p.13, p.19, p.23, p.26).
  • The indoor pool has been closed for renovation for about a year after cracks were found in block walls; ~$150,000 spent, more quotes pending, no firm reopening date - a missing advertised amenity for guests (Spring 2026 Update p.1).
  • HO-6 confusion: the current Rule Manual says the HOA carries a mandatory master HO-6 for all 240 units that owners cannot opt out of, but the June 2025 notice says the HOA does NOT provide a blanket HO6 and owners should buy their own - budget for your own HO-6 with contents, loss of rents, liability and wind/hail (Policy and Rule Manual Dec 2021 p.10-11; Insurance Assessment Notice June 1, 2025 p.1; 2024 Annual Minutes p.2).
  • High property deductibles that can land on owners: $500,000 named windstorm/hail, $100,000 other wind/hail, $50,000 water damage, $10,000 other perils; an owner whose unit causes damage pays the deductible gap, and water damage from in-unit water heaters, hoses and condensate lines is explicitly the owner's risk (Insurance Assessment Notice 2025 p.4; Policy and Rule Manual Dec 2021 p.7-8, p.11).
  • Renovations are allowed only in the off-season (September 30 - April 1) with contractors registered at the rental desk, 9-6 Monday-Saturday, hauling their own trash and returning keys to the front desk daily - plan any unit refresh around the rental calendar (2024 Annual Minutes p.4; Policy and Rule Manual Dec 2021 p.8-9).
  • Guest-unfriendly rules you must police: renters may not bring motorcycles/mopeds, golf carts are banned, guests may not have pets, two parking spaces per unit, $50/day parking fines 'added to the guest's final bill', towing within 30 minutes in fire zones, immediate eviction for objects thrown from balconies (Policy and Rule Manual Dec 2021 p.6, p.9, p.12; Parking Rules 2018 p.1).
  • Parking tags for your self-managed guests come from BCR, Inc. through the Association, and keyless-entry access runs through the on-site rental company - your operations depend partly on the competing on-site operator's cooperation (Policy and Rule Manual Dec 2021 p.6, p.10).
  • The four commercial units hold deed-protected rental-office, restaurant/bar and signage rights that the Association may not limit, and a commercial-unit owner sat on the Board in 2024; the on-site operator also performs the HOA's common-area maintenance under a $436,476 bulk-service line (Master Deed Art. IX p.5, Art. XIV p.7, Art. XVI p.8; 2024 Annual Minutes p.3-4; Budget 2026 p.1).
  • The Board can change the rules on its own, and a Board-appointed Governing Documents Review Committee (with the HOA attorney) is now reviewing the 1985-86 Master Deed, By-Laws and rules - rental terms could change (Policy and Rule Manual Dec 2021 p.2; Spring 2026 Update p.2).
  • Collections are strict and delinquency is real: $75 + $15 late fee at 30 days, $90/month after 60, cable cut-off, lien at 90 days, foreclosure at 120; bad debt $36,927 in 2023 with a $61,639 allowance and $89,270 of dues receivable at 1/31/2024 (Policy and Rule Manual Dec 2021 p.4; Annual Meeting Packet note 8 p.20, p.24).
  • 40-year-old building with ongoing age issues: hurricane water intrusion in the '00 stack balconies, deteriorating balcony tile, cast-iron piping being replaced, hot-tub piping leaks, pool leaks (Board Meeting Minutes 2023 p.3-4, p.7; 2024 Annual Minutes p.4).
  • The 2026 budget total rose 9.7% ($2,702,901 to $2,964,674) almost entirely from insurance, while interest income was cut from $75,000 to $35,000 (Budget 2026 p.1).
  • Bed-bug policy puts inspection, treatment, mattress replacement and cleaning on the owner with no HOA responsibility for lost rents, alternative lodging or guest claims; a locksmith call-out is charged to the owner (Policy and Rule Manual Dec 2021 p.11, p.14-15).
  • The current Rule Manual still names the former management company and old phone numbers, and the Insurance Explanation references the former broker and a now-withdrawn HO6 program - confirm every operational detail with Ally Management before relying on it (Policy and Rule Manual Dec 2021 p.5, p.11; Insurance Explanation p.1; Annual Meeting Packet note 12 p.21).
  • If you buy through an LLC or corporation, the Master Deed limits recreational-facility use to the one officer/director/employee actually in residence at a time - a wrinkle for entity owners who also want personal use (Master Deed Art. XVI p.8).
  • The deed says the master policy must insure 'all of the UNITS' at replacement value, but the 2025 certificate is written 'Walls In', and if proceeds do not cover a damaged unit the shortfall is assessed on that unit's owner; with a $500,000 named-windstorm deductible a hurricane claim can land directly on you, so carry your own HO-6 with wind/hail and loss-of-rents (Master Deed Art. XXVI-XXVII p.12-15; Insurance Assessment Notice 2025 p.4).
  • Reserves are not ring-fenced: the audit notes the reserve funds 'may be used, as needed, for any Association purpose at the discretion of the Board', the component estimates include no inflation and 'may not be adequate', and the Master Deed lets the Board spend the replacement reserve on operating shortfalls (Annual Meeting Packet note 7 p.19; Master Deed Art. XXX.D p.18-19).
  • A quarterly payment is late unless it is received and posted at an out-of-state lockbox by the last business day of the month, a default lets the Board accelerate the whole year's assessment on 10 days' notice, and the Association recovers attorney's fees when it wins while an owner never can (Policy and Rule Manual Dec 2021 p.4; Master Deed Art. XXX.G p.19 and Art. XXXIV.C p.24).
  • The Association may enter your unit for common-element work on reasonable notice, and may enter, remove and bill you for any unapproved alteration; combine that with the off-season-only renovation window before planning a refresh (Master Deed Art. XX and XXV p.9 and p.11; 2024 Annual Minutes p.4).
  • The operator (BCR, Inc.) controls the game room, kids activities, summer entertainment, banquet rooms, guest laundry and key system; nothing in the documents says off-program guests may use the operator's activities, so advertise only the HOA amenities (pools, lazy river, spas, fitness room, shuffleboard, beach deck) (HOA Information Sheet Jan 2024 p.1-2; Policy and Rule Manual Dec 2021 p.5).
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 typePer monthPer year
Hotel Suite - Type A (116 units, 0.003425 share; $1,760 per quarter; plus separately billed insurance assessment, approx. $1,890 for 2025)$587$7,040
2 BR Oceanview - Type F (77 units, 0.004296 share; $2,208 per quarter; 2025 insurance assessment $2,370)$736$8,832
2 BR Oceanfront - Type D (11 units, 0.005205 share; $2,675 per quarter; 2025 insurance assessment $2,874)$892$10,700
3 BR - Type B (18 units, 0.006438 share; $3,309 per quarter; 2025 insurance assessment $3,552)$1,103$13,236
4 BR - Type C (7 units, 0.007260 share; $3,731 per quarter; 2025 insurance assessment $4,005)$1,244$14,924
1 BR Lockout - Type E (11 units, 0.002055 share; $1,056 per quarter; 2025 insurance assessment $1,134)$352$4,224
Commercial Space #1 - Type G (0.006849 share; $3,520 per quarter)$1,173$14,080
Commercial Space #2 and #3 - Type A (0.003425 share each; $1,760 per quarter)$587$7,040
Commercial Space #4 - Type H (0.011682 share; $6,004 per quarter)$2,001$24,016

What the dues cover

In-unit electricity (Association pays the power for owners' HVAC and water heaters; electricity budget $265,000 in 2026)Water/sewer ($99,000 in 2026)Cable TV (Spectrum, $96,000) and internet/WiFi (Contract Data, $25,488)Trash removal via HOA trash chute ($68,000)Pest control for general household pests (not bed bugs) ($20,000)Fuel/gas ($75,000), contract and video security ($196,000), elevators, fire system, generator, pools/lazy river/spas, landscaping, fitness room lease, parking garageGeneral reserve funding ($374,000 in 2026)Building property, liability and flood insurance - but funded by the SEPARATE annual insurance assessment, not the quarterly duesNOT included: in-unit maintenance, HVAC/water heater/appliance replacement, personal HO-6 (per the 2025 notice), telephone, bed-bug treatment, optional storage cage (~$400/yr)

Where the budget goes

Insurance Expense (83300) - offset by the separate insurance assessment$850,000 · 29%
Personnel/Maintenance Staff (41000) - bulk service via on-site operator$436,476 · 15%
General Reserves (99910)$374,000 · 13%
Electricity (60000)$265,000 · 9%
Contract Security Services (71000)$160,000 · 5%
General Maintenance/Materials (43000)$125,000 · 4%
Pool Supplies/Repairs (42000)$105,000 · 4%
Water/Sewer (60100)$99,000 · 3%
The figures, in the documents' words (39)
“At Beach Colony, we have two types of regular assessments, regular maintenance assessment paid quarterly and insurance assessment paid starting in June for 3 months when the Association receives its correct insurance renewals. At the current time, it is the policy of this Association to fully fund (100%) the anticipated reserves for future replacement of capital equipment.”Policy and Rule Manual revised Dec 2021, Regular Assessments, pages 3-4
“The HOA purchases three types of insurance on behalf of the resort and for all units/owners. The assessments for purchasing these insurance policies are paid separate from your quarterly assessments. These insurance assessments are due June 1, July 1 and August 1 or can be paid in one payment.”Insurance Explanation, page 1
“Insurance assessments are not included in the Association's regular assessments by design.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 9 - Insurance Assessments, page 20
“Since the HOA does not provide a blanket HO6 policy (general liability in unit, loss of use/rent, personal items, etc.) for individual unit owners, owners should obtain personal HO6 coverage.”Insurance Assessment Notice (June 1, 2025), page 1
“We are pleased to announce that the Association successfully renewed its property policy on April 10, 2025. The renewal terms remained essentially unchanged, with no significant increases in costs.”Insurance Assessment Notice (June 1, 2025), page 1
“Total Insurance Assessment Amount: $551,590”Insurance Assessment Notice (June 1, 2025), 2025 Insurance Assessment Computation, page 1
“*Deductibles: $10,000 All Other Perils Per Occurrence Except: $50,000 Water Damage Per Occurrence $500,000 Named Windstorm and Hail Per Occurrence $100,000 All Other Windstorm & Hail Per Occurrence 2% Earthquake Per Unit Per Occurrence/$25,000 Minimum Per Occurrence”Insurance Assessment Notice (June 1, 2025) - Certificate of Property Insurance, page 4
“Flood: American Bankers Ins Co of FL - Policy #6003578777 - 5/28/2025-5/28/2026; $60,000,000 Building Limit; $1,250 Deductible”Insurance Assessment Notice (June 1, 2025) - Certificate of Property Insurance, page 4
“The Master HO-6 Policy will be an Association expense and will apply to all 240 residential units, thus relieving each unit owner of the task of acquiring his or her individual policy.”Policy and Rule Manual revised Dec 2021, Owner Liability, page 10
“A homeowner may not opt out of the Master HO-6 Policy.”Policy and Rule Manual revised Dec 2021, Owner Liability, page 11
“She explained the two HO-6 values: 1) blanket and 2) upgrades. She next encouraged owners to revisit their HO-6 policy to ensure they had adequate coverage for any upgrades in their units.”2024 Annual Members' Meeting Minutes (March 9, 2024), Item 6.B Insurance Summary, page 2
“2026 Insurance Assessments will be billed after renewal premiums have been recevied”2026 Operating Budget approved 10/13/2025, page 1, footnote under the dues breakdown
“In a previous update we indicated that our resort insurance could go up 40-45% vs last year primarily due to the increased appraisal of the value of our resort. The resort value increased from around $56m to around $89m.”Spring 2026 Update letter, Item 4 Resort Insurance, page 2
“By reminder, the payment for this insurance is not included in your standard quarterly assessments. The resort insurance is billed separately by the HOA and for this year will be done over four months instead of the usual three-month installments.”Spring 2026 Update letter, Item 4 Resort Insurance, page 2
“Currently, we have a little over $2m in our reserve and are adding about $374k per year. The board does not have enough information currently to determine how best to financially address this need. There are possibilities to spread some of this out over time, and/or finance some of this need or other options.”Spring 2026 Update letter, Item 2 Parking Deck Repairs, page 2
“[The engineer] gave a very rough estimate of $2 to $2.5 million in costs and about six months to complete if all work is done at once.”Spring 2026 Update letter, Item 2 Parking Deck Repairs, page 1 (engineer's name withheld)
“So far, the total amount of money paid to date for all the work performed is around $150,000. This includes a deposit towards the new pool flooring and pool resurfacing, new storefront windows already installed, and wall repair/rebuild in a portion of the indoor pool. We are awaiting additional quotes for the remaining work related to wall repairs.”Spring 2026 Update letter, Item 1 Indoor Pool Renovation and Repairs, page 1
“The good news is we have recently completed major upgrades to include replacing our 40-year-old elevators with a cost of $1m, resealing and repairing the outside of the entire resort for $1m. Now it is time to address our ageing parking garage.”Spring 2026 Update letter, Item 2 Parking Deck Repairs, page 2
“Accumulated net funds, which total $326,065 at December 31, 2023 and $776,581 (including $32,629 due from the operating account) at December 31, 2022 is presented on the accompanying balance sheet as a contract liability (assessments received in advance - reserve fund) and are held in separate accounts and generally not available for operating purposes.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 7 - Major Repairs and Replacements, page 19
“In 2022, the Association entered into a ninety-nine (99) year agreement to sell telecommunication equipment which is located within the common areas of the Association. The agreement called for the Association to receive a gross lump-sum payment of $1,801,652, which will be recognized as cell tower agreement revenue over the life of the agreement.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 10 - Deferred Revenue - Cell Tower Agreement, page 20
“The following is based on a study performed by an outside engineering firm in a prior year and presents significant information about the components of common property.”2024 Annual Meeting Packet - Supplementary Information on Future Major Repairs and Replacements (un-audited), 12/31/2023, page 23 (estimated current replacement costs total $7,000,235; elevators $1,959,000, building exterior $1,672,078, building mechanical $1,414,220, parking garage $195,400)
“At December 31, 2023 and 2022, the Association recognizes an allowance for doubtful accounts of $61,639 and $23,849, respectively, which has been netted against assessments receivable as presented on the balance sheet. For the years ended December 31, 2023 and 2022, the Association recognizes net bad debt expense of $36,927 and $23,849, respectively, which is presented on the statements of revenues and expenses and changes in fund balances.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 8 - Assessments & Allowance for Doubtful Accounts, page 20
“Regular quarterly assessments to the residential unit owners ranged from $1,056 to $3,309 in 2023 and 2022. Regular quarterly assessments to the commercial unit owners ranged from $1,760 to $6,004 in 2023 and 2022.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 8, page 20
“The Board is expecting an increase around 30-40%. It was noted that the building insurance will be combined with the 2024 Operating Budget and Ally Management will be working to build funds in an insurance escrow account.”Board Meeting Minutes January 13, 2023, Item 7.C Building Insurance Renewal, page 3
“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.”Master Deed, Article XXX.C, page 18
“Notwithstanding the foregoing, the Owner(s) of the commercial Unit(s) shall be billed separately by the ASSOCIATION for the actual cost of utilities consumed by their UNITS.”Master Deed, Article XXX.A, page 18
“By reminder, these cages will be made available to owners at a rental fee of around $400/year. The fees are to cover the costs for the cages, maintenance and upkeep of the cage area and to offset costs for the new fitness room in the main hallway.”Spring 2026 Update letter, Item 5 Climate-controlled Storage Lockers, page 3
“Reserve - Investment CD's with Schwab Account 1,002,017”2024 Annual Meeting Packet - Reserve Balance Sheet as of 1/31/2024 (unaudited), page 26 (total reserve assets $2,075,834; deferred cell tower lease $1,780,420; reserve equity $283,929)
“However, these funds may be used, as needed, for any Association purpose at the discretion of the Board of Directors.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 7 - Major Repairs and Replacements, page 19
“The estimates for current replacement costs include no provision for the future effects of inflation. Actual expenditures, however, may vary from the estimated amounts and the variations may be material. Therefore, amounts designated for future repairs and replacements may not be adequate to meet future needs.”2024 Annual Meeting Packet - audited financial statements FY2023, Note 7 - Major Repairs and Replacements, page 19
“(a) casualty insurance covering all of the UNITS, COMMON ELEMENTS and LIMITED COMMON ELEMENTS, in an amount equal to the maximum insurance replacement value thereof, exclusive of excavation and foundation costs, as determined annually by the insurance carrier”Master Deed, Article XXVII(a), page 12
“"Walls In" & Ordinance or Law Per Policy Form Replacement Cost Valuation Coinsurance: N/A”Insurance Assessment Notice (June 1, 2025) - Certificate of Property Insurance, page 4, Description of Operations
“If the proceeds of said casualty insurance are sufficient to pay for the repair, replacement or reconstruction of any loss of or damage to COMMON ELEMENTS and LIMITED COMMON ELEMENTS, but should the same not be sufficient to repair, replace or reconstruct any loss of or damage to any UNIT or UNITS, then ASSOCIATION shall levy and collect an assessment from the owner or owners of the UNIT or UNITS sustaining any loss or damage”Master Deed, Article XXVII, page 15
“The owner of each UNIT may, at his own expense, obtain insurance coverage for loss of or damage to any furniture, furnishings, personal effects and other personal property belonging to such owner and may, at his own expense and option, obtain insurance coverage against personal liability for injury to the person or property of another while within such owner's UNIT”Master Deed, Article XXVI, page 12
“When in default, the Board of Directors may accelerate the remaining installments of the annual assessment or maintenance fee upon notice thereof to the UNIT owner, whereupon the entire unpaid balance of the annual assessment or maintenance fee shall become due upon the date stated in the notice, which shall not be less than ten (10) days after the date of the notice.”Master Deed, Article XXX.G, page 19
“The payment is considered past due if not received and posted at the lock box in Las Vegas, NV by the last business day of the that month. A homeowner delivering an assessment check to the Office of the Association in Myrtle Beach on the last day, or near the last day, of that month does not relieve the homeowner of the responsibility of the payment being received and posted in Las Vegas, Nevada in time to avoid a late fee/delinquency fee.”Policy and Rule Manual revised Dec 2021, Delinquency in Assessments, page 4
“Owners who are enrolled in Ally Management's ACH draft program will not receive a payment coupon. Your assessment will be drafted in July, August, and September along with your quarterly dues payment, unless you notify the Association Office with another desired payment option.”Insurance Assessment Notice (June 1, 2025), page 2
“Building and other common property repairs & replacements - 1,120,057 1,120,057 1,113,510”2024 Annual Meeting Packet - audited financial statements FY2023, Statement of Revenues and Expenses, Major repairs and replacements line, page 15 (2023 and 2022 columns)
“Cash & cash equivalents, beginning of year 951,904 2,567,241 3,519,145 2,369,558 Cash & cash equivalents, end of year $ 1,007,739 $ 2,260,664 $ 3,268,403 $ 3,519,145”2024 Annual Meeting Packet - audited financial statements FY2023, Statement of Cash Flows, page 16 (operating / reserve / 2023 total / 2022 total)
05 Rules your guests will feel

What to put in the house manual.

Fines for these land on the owner, not the guest.

PetsOnly pets owned directly by unit owners, and only while the owner is in residence; owners' family members and guests/renters may never have pets on the common areas. Registration form, proof of vaccination and a color-coded collar tag from the Association; leash max 6 feet; never in the lobby or pool area; not in recreational facilities; fines from $100 per incident; certified service animals excepted.
Occupancyunstated - no occupancy limit in any supplied document
SmokingNo smoking in any common area (lobby, corridors, elevator lobbies, hallways, anything not outdoors); designated outdoor areas only; owners decide whether smoking is allowed inside their own unit. 2023 minutes discussed better smoking signage and a designated area.
ParkingTag/decal required on every vehicle (owner static-cling decal; guest hanging tag from rental company or Association); two spaces per unit while in residence; one vehicle on level 4 1/2 against the center wall with management authorization when away; vehicles under 6'2" above level 1, taller on level 1; no parking out front (load/unload only), fire lane or dock; $50/day fines, $100/day handicapped, towing at owner's cost within 30 minutes for fire zones; no bikes/skateboards ridden in the garage; bicycles only in the under-garage rack, not at entrances or corridors.
Golf carts, motorcycles, trailersMotorcycles, mopeds and similar motorized vehicles: renters prohibited; owners (and guests only while the owner is in residence) must register, tag and give arrival details. Golf carts not permitted for owners or guests (2018 Parking Rules and 2021 manual). Trailers: unstated. Driving on grounds/common areas other than garage roadways and front entrance prohibited.
Grillsunstated - no grill rule in the supplied documents (fireworks discharge results in immediate eviction and prosecution)
Ageunstated - no minimum renter or occupant age; the 2024 minutes note the operator's billiard room is limited to 18 and over unless accompanied by an adult
AlsoNo structural changes, balcony enclosures, exterior painting, antennas or wall/roof penetrations without written Association consent; balcony use limited to neatly arranged outdoor furniture - no clotheslines, no towels/clothing on rails, no feeding seagulls, no throwing objects (immediate eviction); no glass containers on pool decks; pools seasonal (north pool, kiddie pool and lazy river March 15-October 31; south pool March 15-December 15; indoor pool closed for renovation as of Spring 2026); no bikes, skateboards, hoverboards, beach chairs or strollers stored in hallways; no solicitation; signs need Board approval; observe posted facility hours; no loud or obscene conduct; owner renovations only September 30-April 1 with registered, licensed and insured contractors working 9-6 Monday-Saturday; HOA holds an emergency key/code; HOA may enter and quarantine for bed bugs; no timeshare/interval ownership.
06 Before you write an offer

What to ask the association for.

The documents we had leave these open. Ask for them in the due-diligence period and the score firms up.

Documents read October 2026. Full read: Deed, rules and the money were all on file.

Read this before relying on anything aboveEvery statement on these pages is read from the association's own recorded documents, named on the page, as they stood on the date shown. Boards amend rules, budgets change every year, and a recorded amendment can change a score overnight. Confirm anything you would rely on with the association or your closing attorney before you write an offer. This is not legal, tax or investment advice.
The next step

Have the documents read
for the building you are weighing.

This page says what the association's documents allow, require and cost. It cannot tell you which unit is listed this week, or what the seller's estoppel will say. Tell us the resort and we will read its documents against this framework, or pull them if you are under contract.

We use the numbers on this page to answer you specifically. No list, no drip sequence — a person reads it.