Boardwalk Beach Resort HOA Risk Assessment: Program-leaning

02 The five questions

What the documents decide
before your first guest books.

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

Can you rent it your way?

Caution

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

STR with no minimum stay and self- or off-site management is allowed, but the deed bans photos and the resort name in listings, reserves all rental services on the common elements to CU-1, and loads off-site managers with Association approval, deposit, insurance, bond, cleaner-approval and plaque requirements that need Grantor consent (and for Art. XIV a unanimous vote) to change.

Short-term rentalsAllowed

Must use on-site programNo

Owner may rent it personallyYes

Off-site manager allowedYes

Owner-use limitsunstated (no owner-use cap; timeshare/interval ownership prohibited except for Grantor-reserved future phases)

RegistrationNo owner registration requirement is stated. Any off-site rental management company must be 'approved by the ASSOCIATION', post a Board-set security deposit with the Association before servicing any unit, carry $1M/$2M general liability naming the Association as additional insured, workers' compensation with waiver of subrogation and a $15,000 third-party employee dishonesty bond, notify the Grantor/on-site company who will clean, and have its cleaners approved by the Grantor or the on-site rental company before any cleaning (Master Deed Art. XXXVI p.32-33). The Association may inspect any unit rented through a company other than the Grantor's. Owners must request orange pool wristbands from the HOA management office in writing and in advance (Pool Use Policy p.1) and fill out an Association parking pass for every guest (Minutes 2023 p.3, 2024 p.3).

Advertising rulesSevere: no residential owner or agent may use any picture, representation or model of the exterior, interior, amenities or any part of the property in any rental or sale advertisement, and may not use the name 'Boardwalk' or 'Boardwalk Oceanfront Tower Horizontal Property Regime' in any rental advertisement; the only rendering allowed is the recorded plans. Off-site managers must state in bold type that they are not the official rental management company. These rules do not apply to the Grantor or its designated rental company (Master Deed Art. XXXVI p.32). Rules p.2 also bars signs and 'trade or business activity' on Association property without Board approval.

Disclaimer in your listingRequired

Vote to change rental rulesGeneral Master Deed amendments: 67% of members owning a unit, at a special meeting (Art. XXIX p.28). But the Art. XIV restriction reserving rental management, reservations, key pick-up/drop-off, concierge and all commercial activity on the common elements to Commercial Unit CU-1 'may not be amended without the consent of the GRANTOR, its successors and assigns, and the unanimous vote of all UNIT OWNERS' (p.13); any right reserved to the Grantor needs the Grantor's written consent and any right reserved to commercial units needs the Grantor plus all commercial-unit owners (Art. XXIX p.27). The Art. XXXVI advertising and off-site manager rules reference 'the rental management company chosen by the Grantor', so changing them likely also requires Grantor consent. By-Laws: 67% of total votes including 67% of non-Grantor votes (By-Laws Art. VI Sec. 6 p.71).

What the documents say (18)

“Provided however, nothing herein shall be construed as limiting the right of any OWNER of any UNIT from renting or leasing his, her, their or its UNIT, subject to all terms and conditions of this Master Deed.”Master Deed, Art. XIV, p.12

“UNIT OWNERS may rent their Units, but are restricted against using any part of the COMMON ELEMENTS to engage in the business of renting.”Master Deed, Art. XIV, p.12

“Only the OWNER of COMMERCIAL UNIT CU-1 shall be entitled to conduct commercial activities (including without limitation rental activities, food, beverage, and retail sales) within the COMMERCIAL UNITS or upon the COMMON ELEMENTS.”Master Deed, Art. XIV, p.12

“Except for the COMMERCIAL UNITS and the LIMITED COMMON ELEMENTS that are for the exclusive use and benefit of the COMMERCIAL UNITS, the use of the pool decks and other COMMON ELEMENTS, as now existing or hereafter constructed, by the OWNER of COMMERCIAL UNIT CU-1 to sell food, beverages, and other retail items as reserved in Exhibit "B", and except for the use of the COMMON ELEMENTS for advertising by the OWNER of COMMERCIAL UNIT CU-1 reserved hereinabove, no commercial activities shall be conducted within any UNIT, COMMON ELEMENT or LIMITED COMMON ELEMENT, nor shall the same be modified or altered to accommodate any such commercial use, including but not limited to, purposes of general rental management service for the RESIDENTIAL UNITS and other rental property and related accommodation services such as reservations, key pick up and drop off, concierge, and cable, movie, internet, wireless broadband, and telephone services to RESIDENTIAL UNITS and other rental property, shops, stores, sales, vending, or any combination of such uses whether or not related to any prior phase or subsequent phase.”Master Deed, Art. XIV, p.12

“The foregoing restriction on commercial activities may not be amended without the consent of the GRANTOR, its successors and assigns, and the unanimous vote of all UNIT OWNERS.”Master Deed, Art. XIV, p.13

“No Residential Unit Owner nor his agents, employees, successors and assigns shall at any time use any pictures, representations, models of the exterior, interior, amenities or any portion of the real estate, improvements, personal property, fixtures or equipment that constitutes any portion or all of the property submitted to the Horizontal Property Regime in any advertisement for rental or sale of the Unit nor shall a Residential Unit Owner its agents,(including, but not limited to, rental management agents for Residential Unit Owners) servants or employees use the name Boardwalk or Boardwalk Oceanfront Tower Horizontal Property Regime in any advertisement for rental of the Unit.”Master Deed, Art. XXXVI, p.32

“The only renderings which may be used by a Unit Owner, or its agents in advertising a Unit for sale or for rental, are the recorded plans.”Master Deed, Art. XXXVI, p.32

“Any off site rental management company that is approved by the ASSOCIATION to provide services at Boardwalk Oceanfront Tower may not advertise or act in any manner that would give the appearance that it is the official rental management agency for Boardwalk Oceanfront Tower Horizontal Property Regime.”Master Deed, Art. XXXVI, p.32

“The offsite rental management company's (companies') advertising shall reflect in bold type that it is not the official rental management company of Boardwalk Oceanfront Tower.”Master Deed, Art. XXXVI, p.32

“Only the rental management company chosen by the Grantor shall be the official rental management agency for Boardwalk Oceanfront Tower Horizontal Property Regime.”Master Deed, Art. XXXVI, p.32

“The person or entity performing the cleaning services must be approved by the Grantor or the rental management company chosen by the Grantor prior to any cleaning services being performed at Boardwalk Oceanfront Tower Horizontal Property Regime.”Master Deed, Art. XXXVI, p.33

“Any rental management company other than the rental management company chosen by the Grantor who manages residential condominium units in Boardwalk Oceanfront Tower Horizontal Property Regime shall deposit with the ASSOCIATION a sum designated and approved by the Board of the ASSOCIATION as a security deposit based on the number of units the rental management company is servicing within Boardwalk Oceanfront Tower Horizontal Property Regime.”Master Deed, Art. XXXVI, p.33

“Any rental management company providing services to any unit owners at Boardwalk Oceanfront Tower Horizontal Property Regime other than the rental management agency chosen by the Grantor shall maintain the following insurance: (a) general liability coverage including completed operations in an amount of not less than $1,000,000 per occurrence with an aggregate of $2,000,000. Boardwalk Oceanfront Tower Homeowners' Association, Inc. shall be named as an additional insured on such policy; (b) worker's compensation coverage with a waiver of subrogation rights in favor of Boardwalk Oceanfront Tower Homeowners' Association.; and (c) third party employee dishonesty bond in an amount not less than $15,000.”Master Deed, Art. XXXVI, p.33

“The ASSOCIATION shall have the right to inspect any Units which are rented through a rental management agency other than the rental management agency chosen by the Grantor.”Master Deed, Art. XXXVI, p.33

“GRANTOR for itself, its successors and assigns, hereby reserves the right to submit UNITS in any future phases (including a future phase comprised in whole or part by UNITS constructed upon or attached to the Phase I Building) to a plan of interval ownership, and excepting such right of GRANTOR, no UNIT or any portion thereof may be submitted to a plan of interval ownership or any form of timesharing.”Master Deed, Art. XIV, p.12

“It is also each owner's responsibility to ensure that his/her rental agents and guests understand and observe all rules and regulations.”Rules and Regulations recorded 2/6/2019, p.2 of 5, GENERAL

“Short term and long term rentals allowed”HOA Q&A Notes (management company phone answers), p.1

“At such meeting, the amendment or amendments proposed must be approved by an affirmative vote of sixty-seven (67%) percent of the MEMBERS owning a UNIT in the Condominium in order for such amendment or amendments to become effective.”Master Deed, Art. XXIX, p.28

Will your guests be treated like guests?

Caution

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 pools and spas with an orange wristband, but the owner must arrange wristbands in writing through the HOA office in advance and a parking pass per guest, the front desk and key services are off-limits to them, a disclaimer plaque is mandatory in off-site-managed units, owners cannot install their own locks and the Board discourages lockboxes.

Amenities for your guestsMost, not all

Off limits to your guestsFront desk check-in, reservations, key pick-up and drop-off and concierge services: reserved to Commercial Unit CU-1 / the on-site rental company; the Exhibit F plaque tells off-program guests not to approach the front desk, Blue (on-site program) wristbands picked up at the front desk: off-program guests get orange wristbands that the owner or agent must arrange in advance through the HOA management office, On-premises maid closets, linen closets, laundry chutes and trash chutes (part of CU-1; off-site housekeeping may not use chutes or corridor trash cans)

Wristbands & parking passesWristbands: Board policy uses two colors (may change yearly): blue for guests of owners using Boardwalk Motel as rental manager, orange for guests renting through an individual owner or an off-site manager. Required at all times in pools and spas for everyone over age 6; must be pinned to the swimsuit if it cannot be worn; not visible means you are asked to leave. Owners must request them in writing from the HOA management company; off-program wristbands are obtained at the HOA office by the owner or the rental agent with the owner's permission, contacted in advance; the policy says 'Wristbands will be FREE!' but also 'pay upon picking up' (Pool Use Policy p.1). Rules p.2: 'Pool bands are required to be worn by guests and owners.' Parking: marked spaces only, using parking passes provided by the Association and/or on-site; one vehicle per space; no double parking or curb/grass parking; 15-minute, oversized and handicapped spaces strictly enforced; towing policy enforced at all times (Rules p.2). A pass must be filled out entirely for each guest; a blank pass is invalid and the car can be towed at the owner's expense (Minutes 2023 p.3; 2024 p.3). Parcel 1 spaces limited to 15 minutes (Master Deed Art. VI p.8-9). Vendors and off-site management staff must park in the garage on the second floor or higher (Exhibit G p.73).

Check-inowner handles: front desk, reservations and key services are reserved to CU-1/the on-site company; owners may not change or add locks (the electronic locks are part of CU-1 and the key system belongs to the Grantor), and the Board discourages lockboxes. The only key hand-off the documents describe is the front desk issuing a unit key to off-site management staff who sign in each visit (Exhibit G p.73); nothing addresses how a self-managing owner's guest receives a key

TrashTrash and linens may not be left in hallways; littering prohibited; the Rules add 'Dumpsters are available for owners to dispose of at a proper off-site location' and refer to a 'Trash Resolution' that was not supplied (Rules p.2). The HOA budget carried a 'Trash Chute' maintenance line ($10,000 in 2022-2023, $18,000 in 2024) even though the chutes are part of CU-1. Trash chutes are part of Commercial Unit CU-1 (Exhibit B p.46). Off-site housekeeping/maintenance staff may not use the trash chutes or corridor trash cans and must take all trash off the property in sealed bags (Exhibit G p.73). The HOA's 'Trash Removal' budget line fell from $38,185 (2024) to $10,000 (2025) to $0 (2026).

ElevatorsGuest elevators and stairs are common elements. All vendors, employees or agents of off-site management companies, including cleaners, must use the service elevator, never the guest elevators (Exhibit G p.73). Luggage carts are for owners, guests and tenants only, returned immediately and never stored overnight in a unit (Rules p.2). Elevator modernization has been under Board study since 2025 (Minutes 2025 p.3).

Housekeeping & linenDaily or weekly maid service by independent contractors is permitted, but only CU-1's owner may use the on-premises maid closets (Master Deed Art. XIV p.12-13). Cleaners used by any company other than the Grantor's must be approved in advance by the Grantor or the on-site rental company (Art. XXXVI p.33) and must meet Exhibit G standards: sign in at the front desk each visit, wear name tags, service elevator only, labeled chemicals with MSDS filed with the General Manager, trash and linens bagged and removed from the property, no use of the on-site company's carts, vacuums or linens, luggage carts may not be used for trash, linens, chemicals, supplies or tools, and no smoking or eating in corridors (p.73-74). The on-site company disclaims responsibility for linens in off-program units (Exhibit F p.72). No owner laundry room: the Board said on-site laundry is not viable because of the building's plumbing (Minutes 2025 p.3), although the management company phone answer said the property 'has laundry facilities'.

What the documents say (21)

“All owners and their guest that use Boardwalk Motel as their rental management company will use "blue" wristbands.”Common Element and Pool Use Policy, p.1, REQUIREMENTS

“Guests renting through an individual owner and/or their off-site rental management company will receive "orange" wristbands.”Common Element and Pool Use Policy, p.1, REQUIREMENTS

“Owners are responsible for contacting the HOA management company in writing to obtain their wristbands.”Common Element and Pool Use Policy, p.1, WRISTBAND CONTROL

“For owners and guests who do not use Boardwalk as your rental agent, wristbands can be obtained in our office by you or your rental agent with owner's permission.”Common Element and Pool Use Policy, p.1, PRICING

“You must contact us in advance, and pay upon picking up.”Common Element and Pool Use Policy, p.1, PRICING

“Wristbands will be FREE!”Common Element and Pool Use Policy, p.1, PRICING

“If the wristband is not visible, you will be asked to leave the pool or spa area.”Common Element and Pool Use Policy, p.1, WRISTBAND CONTROL

“Except as may be specifically set forth elsewhere in this Master Deed with regard to LIMITED COMMON ELEMENTS, the COMMON ELEMENTS shall be, and the same are hereby declared to be, subject to a perpetual non-exclusive easement in favor of all of the OWNERS of UNITS in the Condominium for their use and the use of their immediate families, guests, licensees and invitees, for all proper and normal purposes, and for the furnishing of services and facilities for which the same are reasonably intended, for the enjoyment of said OWNERS of UNITS.”Master Deed, Art. VII, p.9

“The rental management company you have chosen is in no way affiliated with the hotel, front desk or Boardwalk Rental Management, LLC.”Master Deed, Exhibit F, p.72

“No inquiries should be made regarding this matter or complaints lodged at the front desk as the front desk personnel have absolutely no control over the cleanliness, maintenance, furnishings, fixtures, or equipment provided in this unit.”Master Deed, Exhibit F, p.72

“Pool bands are required to be worn by guests and owners.”Rules and Regulations recorded 2/6/2019, p.2 of 5, SWIMMING POOLS

“Vehicles should be parked only in marked designated spaces using parking passes provided by the Association and/or on-site.”Rules and Regulations recorded 2/6/2019, p.2 of 5, PARKING

“Parking Passes – Must be filled out entirely for each guest. A blank parking pass is not considered valid, and the vehicle is subject to being towed at the owner's expense.”Annual Members' Meeting Minutes 2024-10-08, p.3, Enforcement

“All vendors, employees or agents of off site management companies including their cleaning personnel must use the service elevator and not the guest elevators.”Master Deed, Exhibit G, p.73

“Do not use trash chutes or trashcans in the corridor or on the property. You must take all trash with you off the property.”Master Deed, Exhibit G, p.73

“Daily or weekly maid service is permitted by independent contractors acting for one or more UNIT OWNERS, but only the OWNER of COMMERCIAL UNIT CU-1 shall be entitled to use the on premises maids closets.”Master Deed, Art. XIV, p.12-13

“Trash and linens are not allowed to be placed in hallways.”Rules and Regulations recorded 2/6/2019, p.2 of 5, TRASH

“Luggage carts are to be used only by owners, guests, and tenants for their use in the transport of personal effects and returned to entrance storage areas immediately after use and shall not be stored overnight in an owner's unit.”Rules and Regulations recorded 2/6/2019, p.2 of 5, LUGGAGE CARTS

“The pool is open 10:00 AM — 10:00 PM, A competent swimmer must accompany children under 14 years of age.”Rules and Regulations recorded 2/6/2019, p.2 of 5, SWIMMING POOLS

“Dumpsters are available for owners to dispose of at a proper off-site location.”Rules and Regulations recorded 2/6/2019, p.2 of 5, TRASH

“Luggage carts are for guest use only not for trash, linens, chemicals, supplies and tools.”Master Deed, Exhibit G, p.73

How much work lands on you?

Caution

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 or 30-minute rule, but the owner handles wristbands and per-guest parking passes, cannot use a lockbox or own lock, must get cleaners approved by the on-site company and have them sign in, use the service elevator and carry trash off site, guest fines fall back on the owner, and the fine schedule was not supplied.

Local contactunstated (no local-agent or contact-posting requirement in the supplied documents; owners are responsible for their guests' and rental agents' conduct and any damage, Rules p.2; violation notices go to the owner and the rental agent, Minutes 2024 p.4)

Response timeunstated (no response-time rule; the Association reports violations to owners and rental agents within 24 hours on business days, weekends the next business day, and handles urgent violations directly with the guest on site, Minutes 2024 p.4)

Locks & keysOwners may not change the exterior door lock or add any lock or locking mechanism; the electronic locks and related equipment on every unit door are part of Commercial Unit CU-1; the key system is owned by the Grantor, who issues one key per unit and replacements at cost; a master key is held by the Board/its manager; keys to any interior locks must be given to the Grantor-designated management company (Master Deed Art. XVII p.14; Exhibit B p.46). In 2024 the developer-era board noted non-uniform locks had appeared and said 'locks and doors belong to the HOA and should be uniform' (Minutes 2024 p.4); in 2025 the owner board said drilling doors compromises them and 'lockbox installation is discouraged', and an owner asked for a common-area lockbox location (Minutes 2025 p.4). Off-site management staff must sign in at the front desk or pick up a key there each visit (Exhibit G p.73). If an owner fails to deposit a key, the Association can charge the cost of making one (Art. XXI p.16-17).

FinesBoard may impose 'reasonable fines' that become a lien, and may suspend voting and common-area use (but never ingress/egress). A fine for an occupant's violation is assessed first against the occupant and then the owner must pay it on notice if the occupant does not; written notice, 10 days to request a hearing before the Covenants Committee, appeal to the Board within 30 days; the Association may also use self-help (including towing) or sue, with the owner/occupant paying costs and attorney's fees (By-Laws Art. III Sec. 23 p.67-68). The recorded Rules say 'Violations of these rules may subject the unit owners and/or guests to fines' and refer to a FINE POLICY as Exhibit A (not supplied). Delinquent assessments: default on due date, acceleration on 10 days' notice, 18% interest, $25 late fee after 30 days, lien and foreclosure, receiver and rental, and the Association may cut off the unit's electricity 20 days after a missed payment (Master Deed Art. XXVII G, J p.24-25). Owner liable for damage caused by family, guests, agents or lessees beyond insurance proceeds (Art. XXX B p.29).

Contractors & vendorsUnit contractors must be licensed in Horry County and the City of Myrtle Beach, insured for liability and workers' comp with a certificate naming the Association as additional insured on file; hours 9am-6pm Monday-Saturday, no Sunday work; owner pays for any common-element damage and must ensure clean-up (Rules p.2). Off-site rental/housekeeping staff: Exhibit G standards (front-desk sign-in, name tags, service elevator only, garage parking 2nd floor or higher, labeled chemicals with MSDS to the General Manager, all trash removed from property, report maintenance and safety issues to the on-site Director of Engineering) (p.73-74). Structural or exterior changes need prior written Board approval (ARC request), and the Master Deed also requires the Grantor's written consent for structural modifications so long as the Grantor owns one or more units; unauthorized alterations must be removed within 30 days of notice or the Association may remove them and charge the owner (Rules p.2; Master Deed Art. XIX p.14-15).

AlsoOwner must allow entry at reasonable times for common-element maintenance and monthly in-unit pest control, and immediate entry in emergencies (Master Deed Art. XVII-XVIII p.14). Owner maintains all in-unit HVAC, appliances, fixtures, window glass and sliding doors and pays the insurance deductible share for in-unit items (Art. XXI p.16). Window treatments must have a uniform white backing; no antennas or dishes; balconies for patio furniture only; no signs including 'For Sale' (Art. XIX p.15). In-unit phones cannot be removed because the Board considers them an emergency-liability item; the HOA pays a $31,200 'Unit Phones/Internet' line (Minutes 2024 p.4; Budget 2026). HO-6 coverage with loss-assessment coverage was recommended to owners (Minutes 2025 p.2). Owner's insurer must waive subrogation and, where available, be the same carrier as the Association's (Art. XXIII p.17-18). Building entry points were not locked as of October 2024 (an owner asked for locks at all entry points because of flyer solicitation in the halls; left to the next Board) and the Board said a pool-access code is not practical (Minutes 2024 p.5; Minutes 2025 p.4). Information on an internet upgrade was promised to owners (Minutes 2025 p.4-5).

What the documents say (22)

“In no event shall any Unit Owner change the lock on the exterior door to his Unit or add any additional locks or locking mechanism.”Master Deed, Art. XVII, p.14

“The key system is owned by the Grantor who shall have the right to convey that system to any person or entity.”Master Deed, Art. XVII, p.14

“Should any Unit Owner lock any interior portion of his Unit, a key to said lock or locks shall be provided to the management company designated by the Grantor.”Master Deed, Art. XVII, p.14

“In addition, the electronic locking mechanisms upon the exterior doors to the UNITS and all equipment related thereto are a part of COMMERCIAL UNIT CU-1.”Master Deed, Exhibit B, p.46

“According to the Master Deed, locks and doors belong to the HOA and should be uniform.”Annual Members' Meeting Minutes 2024-10-08, p.4

“He also noted that lockbox installation is discouraged at Boardwalk Oceanfront Tower for this reason.”Annual Members' Meeting Minutes 2025-11-07, p.4

“An owner suggested the Board identify a location on common property for lockboxes.”Annual Members' Meeting Minutes 2025-11-07, p.4

“All vendors, visitors and other management companies must go to the front desk to sign in and out or to pick up a key for a unit each time on property.”Master Deed, Exhibit G, p.73

“In the event that any occupant of a UNIT violates the Master Deed, By-Laws, or a rule or regulation and a fine is imposed, the fine shall first be assessed against the occupant; provided, however, if the fine is not paid by the occupant within the time period set by the Board, the Owner shall pay the fine upon notice from the ASSOCIATION.”By-Laws, Art. III Sec. 23, p.67

“The Board shall have the power to impose reasonable fines, which shall constitute a lien upon the property of the violating Owner, and to suspend an Owner's right to vote or to use the Common Area for violation of any duty imposed under the Master Deed, these By-Laws, or any rules and regulations adopted hereunder; provided, however, nothing herein shall authorize the ASSOCIATION or the Board of Directors to limit ingress and egress to or from a UNIT.”By-Laws, Art. III Sec. 23, p.67

“Please also reference your governing documents for additional Rules and Regulations and the FINE POLICY listed as Exhibit "A.”Rules and Regulations recorded 2/6/2019, p.2 of 5

“Contractors used must be licensed in Horry County as well as the City of Myrtle Beach.”Rules and Regulations recorded 2/6/2019, p.2 of 5, UNIT MAINTENANCE/CONTRACTOR WORK

“Contractor hours should be 9am-6pm, Mondays-Saturdays. No work is allowed on Sundays.”Rules and Regulations recorded 2/6/2019, p.2 of 5, UNIT MAINTENANCE/CONTRACTOR WORK

“It was noted that homeowners and rental agents are notified of violations that are reported within twenty-four (24) hours of the violation occurrence.”Annual Members' Meeting Minutes 2024-10-08, p.4

“In that regard, ASSOCIATION, or its designated contractor may perform monthly service for pest control which may include spraying within each UNIT and each Owner of a UNIT is hereby so notified.”Master Deed, Art. XVIII, p.14

“Recognizing that a portion of the common expenses represented by the assessments levied and collected by the ASSOCIATION is attributable to commonly metered electrical utilities used and consumed by each UNIT OWNER, instead of each UNIT having a separate electrical meter for each UNIT, and recognizing that to allow a UNIT OWNER to continue using such electrical utilities during the time such UNIT OWNER is in default of such assessments is patently unfair to all other UNIT OWNERS who are paying for the delinquent UNIT OWNER'S electricity, the ASSOCIATION is hereby granted the right, at any time any assessment, installment or accelerated installment is not paid within twenty (20) days after its due date, to terminate electrical utility service to the delinquent OWNER'S UNIT.”Master Deed, Art. XXVII (J), p.25

“Appearance - Each person must have a nametag, outlining name and company on at all times while on this property.”Master Deed, Exhibit G, p.73

“Parking - all vehicles must be parked in the parking garage, on the second floor or higher.”Master Deed, Exhibit G, p.73

“It was suggested that owners add loss of assessment coverage through their HO6 provider.”Annual Members' Meeting Minutes 2025-11-07, p.2, Insurance Report

“Violations of these rules may subject the unit owners and/or guests to fines.”Rules and Regulations recorded 2/6/2019, p.2 of 5, PORCHES & BALCONIES

“Except as otherwise provided herein, no OWNER of a UNIT shall permit any structural modifications or alterations without first obtaining the written consent of the GRANTOR (so long as GRANTOR owns one or more UNITS) and the ASSOCIATION,”Master Deed, Art. XIX, p.14

“A homeowner inquired about installing locks at all entry points to avoid having the pizza flyer distribution issue. It was noted that the next Board would discuss and vote on this decision.”Annual Members' Meeting Minutes 2024-10-08, p.5

Is the money healthy?

Typical

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

Reserves at 18.9% of budget, no special assessments on record, utilities and internet included and two years of dues increases under 2.3% are strong, but dues rose 41% from 2022 to 2026, insurance spiked in 2023-2024 and was patched through operating transfers, a contractor dispute is driving legal spend, the Board can borrow and assess without a vote, and no reserve study or balance was supplied.

2026 budget$1,730,818

Dues change+2.3% on the year

Reserves19% of budget

Special assessmentsNone in the documents

InsuranceProperty (ACORD 27, June 2023): Building/Special Form including Earthquake, Wind & Hail $17,950,000 replacement cost, 'All-In' per policy form, made up of $16,750,000 condo building limit plus $1,200,000 pools; shared/layered among eight carriers (Lloyds of London 4.5%, QBE Specialty 7.5%, Steadfast 9%, Old Republic Union 4%, Geovera Specialty 19%, Transverse Specialty 17%, National Fire & Marine 33%, Spinnaker Specialty 6%) plus Princeton Excess & Surplus Lines excess property and a Lloyds wind-deductible buyback. Ordinance or Law: Coverage A in building limit, B&C $1,000,000 sublimit. Equipment breakdown: Travelers Property Casualty Co. of America, $15,383,050 direct damage, $5,000 deductible per claim. Crime: Travelers Casualty & Surety Co. of America, $750,000 employee theft, $7,500 deductible. Liability (ACORD 25, 05/26/2023-05/26/2024): Auto-Owners Insurance commercial general liability $1,000,000 per occurrence / $2,000,000 general aggregate / $2,000,000 products-completed ops, $300,000 damage to rented premises, $10,000 medical, $1,000,000 personal & advertising injury; umbrella $5,000,000 per occurrence and aggregate; workers' compensation with Pennsylvania Manufacturers' Association Insurance Co., employers' liability $1,000,000 each; Directors & Officers with Travelers Casualty & Surety $1,000,000, $2,500 deductible; 'Severability of liability applies.' Budget history for Insurance Expense: 2022 $190,800; 2023 budgeted $229,000 but restated to $335,768 in the 2024 budget's 2023 column, with a $106,768 'Due from Operating to Insurance' transfer in 2023; 2024 $515,000 plus $26,692 'Insurance Escrow Shortfall'; 2025 $376,000; 2026 $315,000. A separate 'Insurance Claim' / 'Insurance Claim-Deductibles' line is budgeted every year: $25,000 (2023), $50,000 (2024, 2025, 2026). The broker warned in October 2023 of a 20-40% increase for 2024 renewals; in October 2024 no 2025 increase was anticipated though the post-Hurricane Milton market was 'unknown'; in November 2025 owners were told to carry HO-6 with loss-assessment coverage. The brokerage changed from McGriff Insurance Services to Marsh McLennan Insurance Agency by 2025. The Board is the 'Insurance Trustee'; if casualty proceeds fall short, the Association pays the gap from the Reserve Fund for Replacements and, if that is insufficient, 'shall levy and collect an assessment against all OWNERS' (Art. XXIV p.19-20), and owners pay the deductible share on in-unit items (Art. XXI p.16). Insurance premiums are a Common Expense; buyers from the Grantor paid an advance one-year insurance assessment plus two months' dues as capital contribution (Master Deed Art. XXVII C, p.23).

Wind deductible$25,000 Wind & Hail per occurrence (also $25,000 all other perils and $25,000 earthquake), supported by a separate Lloyds of London Wind Deductible Buyback Policy; property program 05/26/2023-05/26/2024 (certificate dated June 2023; no later certificate supplied)

FloodNFIP Residential Condominium Building Association Policy through Hartford Insurance Company of the Midwest: building $16,750,000 (replacement cost value $16,750,000, 130 units), deductible $1,250, no contents coverage, flood zone X, 0 prior NFIP claims, term 06/19/2023-06/19/2024, printed total annual premium $14,236 (full-risk premium $29,120 before discounts; label/value alignment on the extracted page is imperfect)

DelinquencyNo delinquency figures appear in the minutes; the By-Laws require a quarterly delinquency report (Art. III Sec. 20 p.66). Bad Debt budgeted at $3,000 (2023) and $2,000 (2024-2026); a delinquency report and audit exhibits are referenced but not attached. Audits for 2022, 2023 and 2024 each received a 'clean opinion' (Minutes 2023 p.2; 2024 p.2; 2025 p.2). Remedies: 18% interest, $25 late fee, acceleration, electricity cut-off after 20 days, lien, foreclosure, receiver (Master Deed Art. XXVII p.24-25). Pro-rata expenses under the Declaration of Easement for Parking & Use of Amenities are Common Expenses, and the By-Laws direct the Association to collect from owners the sums owed to the owners of the easement property and forward them (Master Deed Art. XXVII p.22; By-Laws Art. III Sec. 18(o) p.65); the 'Parking Area Maintenance' line ($54,789 in 2025 and 2026, about 3.2% of the budget) is the likely vehicle but the budget does not say so. No other pass-through appears. On a resale the grantee is jointly and severally liable with the seller for unpaid assessments, and the Association must furnish a payment-status statement on request (Art. XXVII L p.26).

What the documents say (43)

“40-30100-00 Regular Assessments 1,227,927$ 1,418,637$”Budget 2023 (2022 and 2023 columns), p.1, ASSESSMENT INCOME

“45-39500-00 General Reserve Funding 223,431$ 227,000$”Budget 2023 (2022 and 2023 columns), p.1, Reserve Accounts

“45-39510-00 YTD Contingency Funding 62,116 -”Budget 2023 (2022 and 2023 columns), p.1, Reserve Accounts

“51-83300-00 Insurance Expense 190,800 229,000”Budget 2023 (2022 and 2023 columns), p.1, ADMINISTRATIVE

“20-24110-00 Due from Operating to Insurance - 106,768”Budget 2023 (2022 and 2023 columns), p.1, ADMINISTRATIVE

“15.53%”Budget 2023 (2022 and 2023 columns), p.1, printed change in total assessments 2022 to 2023

“104 1 Bedroom Suite 0.0069098236 707$ 817$”Budget 2023 (2022 and 2023 columns), p.1, Monthly Dues Breakdown

“40-30100-00 Regular Assessments 1,418,637 $ 1,692,288 $”Budget 2024 (2023 and 2024 columns), p.1, ASSESSMENT INCOME

“42-99910-00 General Reserve Contribution (227,000) $ (232,200) $”Budget 2024 (2023 and 2024 columns), p.1, LESS: RESERVE FUNDING

“51-83300-00 Insurance Expense 335,768 515,000”Budget 2024 (2023 and 2024 columns), p.1, ADMINISTRATIVE

“51-89999-00 Insurance Escrow Shortfall - 26,692”Budget 2024 (2023 and 2024 columns), p.1, ADMINISTRATIVE

“51-83345-00 Insurance Claim 25,000 50,000”Budget 2024 (2023 and 2024 columns), p.1, ADMINISTRATIVE

“19.29%”Budget 2024 (2023 and 2024 columns), p.1, printed change in total assessments 2023 to 2024

“104 1 Bedroom Suite 0.0069098236 817$ 974 $”Budget 2024 (2023 and 2024 columns), p.1, Monthly Dues Breakdown

“40-30100-00 Regular Assessments 1,692,371 $ 1,730,818 $”Budget 2026 (2025 and 2026 columns), p.1, ASSESSMENT INCOME

“42-99910-00 General Reserve Contribution (237,530) $ (327,530) $”Budget 2026 (2025 and 2026 columns), p.1, LESS: RESERVE FUNDING

“51-83300-00 Insurance Expense 376,000 315,000”Budget 2026 (2025 and 2026 columns), p.1, ADMINISTRATIVE

“51-83342-00 Insurance Claim-Deductibles 50,000 50,000”Budget 2026 (2025 and 2026 columns), p.1, ADMINISTRATIVE

“51-52000-00 Legal & Professional Services 46,500 46,100”Budget 2026 (2025 and 2026 columns), p.1, ADMINISTRATIVE

“51-99930-00 Operating Contingency 46,900 50,000”Budget 2026 (2025 and 2026 columns), p.1, ADMINISTRATIVE

“2.27%”Budget 2026 (2025 and 2026 columns), p.1, printed change in total assessments 2025 to 2026

“12 2 Bedroom Suites / Lockouts 0.0123860202 1,747$ 1,786$”Budget 2026 (2025 and 2026 columns), p.1, Monthly Dues Breakdown

“14 1 Bedroom Deluxe 0.0087438327 1,233$ 1,261$”Budget 2026 (2025 and 2026 columns), p.1, Monthly Dues Breakdown

“104 1 Bedroom Suite 0.0069098236 974$ 997$”Budget 2026 (2025 and 2026 columns), p.1, Monthly Dues Breakdown

“1 Commercial Unit 0.0103324465 1,457$ 1,490$”Budget 2026 (2025 and 2026 columns), p.1, Monthly Dues Breakdown

“Building/Special Form including Earthquake, Wind & Hail $17,950,000 *”Insurance certificate (ACORD 27 Evidence of Property Insurance, decoded), p.1, COVERAGE INFORMATION

“$25,000 Wind & Hail per occurrence”Insurance certificate (ACORD 27 remarks, decoded), p.2, *Deductibles

“$25,000 All perils per occurrence except,”Insurance certificate (ACORD 27 remarks, decoded), p.2, *Deductibles

“$16,750,000 Condo Building Limit”Insurance certificate (ACORD 27 remarks, decoded), p.2

“$ 1,200,000 Pools”Insurance certificate (ACORD 27 remarks, decoded), p.2

“Ordinance or Law: Coverage A included in building limit; Coverage B&C $1,000,000 sublimit.”Insurance certificate (ACORD 27 remarks, decoded), p.2

“REPLACEMENT COST VALUE: $16,750,000.00”Insurance certificate (NFIP flood declarations), p.3

“CURRENT FLOOD ZONE: X”Insurance certificate (NFIP flood declarations), p.3

“Policy Term: 06/19/2023 12:01 AM - 06/19/2024 12:01 AM”Insurance certificate (NFIP flood declarations), p.3

“Severability of liability applies.”Insurance certificate (ACORD 25 Certificate of Liability Insurance, decoded), p.4, Description of Operations

“The Board of Directors of the ASSOCIATION, in establishing said annual budget for the operation, management and maintenance of the Condominium shall include therein a sum to be collected and maintained as a reserve fund for replacement of COMMON ELEMENTS, which reserve fund shall be for the purpose of enabling the ASSOCIATION to replace and/or conduct major repairs upon, structural elements and mechanical equipment constituting a part of the COMMON ELEMENTS as well as the replacement of personal property and amenities which may constitute a portion of the COMMON ELEMENTS held for the joint use and benefit of all of the Owners of all UNITS.”Master Deed, Art. XXVII (D), p.23

“GRANTOR shall make an initial contribution within 120 days of filing of this Master Deed, in the amount of $250,000.00 to the ASSOCIATION as reserves for replacements and repairs of components of the Phase I building to help insure that adequate reserves for such repairs and replacements are available and that the Phase I buildings and improvements, on the date submitted to this Master Deed, are in good condition taking into consideration the reserves for repairs and the fact that each of the COMMON ELEMENTS have a remaining useful life on such date.”Master Deed, Art. XXXX, p.40

“It was noted that upon a request from a lender, an up-to-date Reserve Study can be required, along with an updated appraisal and engineer report, all of which can affect the Association's budget.”Annual Members' Meeting Minutes 2023-10-19, p.3

“the anticipated twenty to forty percent (20-40%) increase in 2024 renewals over 2023 renewal rates”Annual Members' Meeting Minutes 2023-10-19, p.2, Insurance Report (fragment; speaker's name omitted)

“Increases in 2025 were not anticipated; however, with the recent Hurricane Milton in Florida, the expectation for 2025 renewals is unknown.”Annual Members' Meeting Minutes 2024-10-08, p.2, Insurance Report

“Dues for Unit [withheld]: 974/month”HOA Q&A Notes (management company phone answers), p.1 (unit number withheld; matches the 2024-2025 printed 1 Bedroom Suite rate, now $997 for 2026)

“HOA fee includes Electric water sewer trash cable phone internet”HOA Q&A Notes (management company phone answers), p.1

“The monies to be deposited by the ASSOCIATION with the Insurance Trustee, in said latter event, may be paid by the ASSOCIATION out of its Reserve Fund for Replacements, and if the amount in such Reserve Fund for Replacements is not sufficient, then the ASSOCIATION shall levy and collect an assessment against all OWNERS and their UNITS in an amount which shall provide the funds required to pay for said repair, replacement or reconstruction.”Master Deed, Art. XXIV, p.20

Who's really in charge?

Caution

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

The developer's board-appointment power expired in 2025 and a five-member owner board now runs the Association, but the deed still gives the commercial unit a monopoly on rental, front-desk, key, advertising and communications services, the developer a right of first refusal on resales and a Class II veto that survives as long as it or an assignee owns any unit, and requires Grantor consent (and for Art. XIV a unanimous vote) to change any of it.

StructureOne association

Commercial unitYes, with its own deed rights

On-site operatorBoardwalk Motel, LLC (on-site rental program per 2024 minutes and the Pool Use Policy; Master Deed Exhibit F names Boardwalk Rental Management, LLC as the on-site rental management company). HOA managed by Empress Management, LLC.

BoardBy-Laws: 3 to 5 directors. During Class II (developer) control the Class II member picked the directors, who served at its pleasure and did not need to be owners; one at-large owner-elected director was added after a year. At the first annual meeting after termination of Class II control five directors are elected (two for 3 years, two for 2 years, one for 1 year), thereafter 2-year terms; removal by majority of the membership; directors delinquent 30 days or missing three consecutive meetings can be removed by the Board (By-Laws Art. III Sec. 1-8, p.60-62). Developer's right to name a board majority ended no later than July 1, 2025 (Master Deed Art. XXXII p.30). The November 7, 2025 meeting had five owner directors and filled one 3-year seat by acclamation with a single nominee (Minutes 2025 p.1-3). Officers elected by the Board; president cannot also be secretary (By-Laws Art. IV p.68-69).

Developer rightsGrantor (Boardwalk Oceanfront Tower, Inc., successors and assigns) held: Class II membership with 4 votes per unit it owned (CU-1 included), a veto over all Board and committee actions, and the right to designate a Board majority. Only the Board-designation power has a hard sunset (no later than July 1, 2025, Master Deed Art. XXXII p.30); the Class II votes and veto last as long as the Grantor or its assignee owns any unit, unless the Grantor records a termination instrument (By-Laws Art. II Sec. 2 p.58, Art. III Sec. 2-3 p.60-61). The five-member board at the November 2025 meeting implies Class II control was treated as ended, but no termination instrument was supplied. Still-live reserved rights with no stated expiry: a right of first refusal on every residential resale, with a Grantor compliance certificate available on demand and a non-rebuttable waiver if the Grantor does not sue within 90 days of a non-compliant transfer (Art. XXXVIII p.34-35, amendable only with Grantor consent); ownership of the key system (Art. XVII p.14); designation of the 'official' rental management company and approval of cleaners (Art. XXXVI p.32-33); written consent needed for any amendment touching Grantor rights, the commercial-activity restriction (plus unanimous owners), Art. XXII, and any rule affecting the commercial unit (Art. XV p.13, XXII p.17, XXIX p.27-28); unilateral scrivener's amendments; Grantor or an affiliate may serve as managing agent and Grantor representatives need not recuse on management-contract votes (By-Laws Art. III Sec. 19 p.65; Master Deed Art. XXXII p.31). Grantor rights are assignable, including to lenders (p.30-31). Options to add Phases II-VII (up to 1,800 more residential units and 30 commercial units, with the right to demolish Phase I amenities for commercial units) and to seek PUD rezoning have expired (Art. III p.3-6).

Commercial-unit rightsCommercial Unit CU-1 (1.0332% interest) owns the vending areas, linen closets, trash chutes, maid rooms and laundry chutes on every level and the electronic door locks on all units (Exhibit B p.46), holds a perpetual exclusive advertising and signage easement over corridors, elevators, building exterior and parking (Art. IV p.7, Art. VI p.9, Exhibit B p.46), may provide phone, cable, internet and movie services to the regime (Art. VIII p.10), and has the exclusive right to conduct all commercial activity on the common elements including rental management, reservations, key pick-up/drop-off, concierge, food, beverage and retail sales (Art. XIV p.12). It may alter its non-structural components without Board consent (Art. XIX p.15), may use the unit for any legal commercial purpose, is exempt from Association rules that affect it unless the Grantor consents (Art. XV p.13), recovers attorney's fees when enforcing Art. XIV (Art. XXX p.28-29), is exempt from the right of first refusal (Art. XXXVIII B p.34) and from the mandatory ADR when enforcing Art. XIV (Art. XXXIX p.35). Owners asked in 2023 what the commercial unit is and were told 'laundry chutes, closets, and storage areas' (Minutes 2023 p.4). The HOA budget nonetheless carried a 'Trash Chute' maintenance line ($10,000 in 2022-2023, $18,000 in 2024) although the chutes are part of CU-1 (Exhibit B p.46).

VotesOne vote per unit (Class I), co-owners designate a single voting member; Class II (Grantor) had four votes per unit owned; quorum 51% of the total vote, in person or by proxy; majority means more than 50%; action without a meeting needs 80% written consent; special meetings on petition of 10% (By-Laws Art. II p.57-59). The Board may borrow for repairs or budget shortfalls without a membership vote and may pledge assessments and reserve accounts; a majority owner vote is required only for special assessments tied to borrowing for amenities that exceeds 5% of budgeted gross expenses (By-Laws Art. III Sec. 21 p.66-67). Quorum at annual meetings: 67% (2023), 70% (2024), 56% (2025).

Changing the deedMaster Deed: proposed by a Board majority or owners of a majority of units, adopted by 67% of members owning a unit at a special meeting, recorded within 30 days; changes to percentage interests or the assessment basis need all owners and their mortgagees; Grantor rights need Grantor consent; commercial-unit rights need Grantor plus all commercial-unit owners; Art. XIV commercial restriction needs Grantor consent plus unanimous owners; Art. XXII (Association maintenance duties) and Art. XXXVIII (right of first refusal) need Grantor consent; termination of the regime needs unanimous owners and lienholders (Master Deed Art. XIV p.13, XXII p.17, XXVIII-XXIX p.27-28, XXXVIII E p.35). By-Laws: 67% of total votes including 67% of non-Grantor votes, effective on recording (By-Laws Art. VI Sec. 6 p.71).

Disputes or lawsuitsMandatory dispute resolution: notice, negotiation, mediation within 30 days, then binding arbitration under the SC Uniform Arbitration Act, with jury trial waived for all disputes under the Master Deed (Art. XXXVII-XXXIX p.33-39); exempt claims include assessment collection and CU-1's enforcement of Art. XIV. The procedure has strict forfeiture deadlines: a claimant who does not submit to mediation within 30 days after negotiations end, or to arbitration within 15 days after mediation ends, is deemed to have waived the claim; parties split mediator and arbitration costs, with post-mediation costs shifted against whoever does worse than the final offer, and the hearing is held at the Regime (Art. XXXIX B p.36-37, C p.38). Active matter: the HOA's 2019 walkway/balcony waterproofing contract with WCI has failed (peeling coating); WCI has refused repairs; the HOA retained an attorney, hired an expert and was investigating filing suit (Minutes 2023 p.4; Minutes 2024 p.4); Legal & Professional Services rose from $4,500 (2024) to $46,500 (2025) and $46,100 (2026). No suit is reported filed in the supplied minutes, consistent with the management company's phone answer 'No litigation currently', but a claim is clearly in preparation. Other items: an insurance claim funded 2023 pool ceiling repairs; a condensation-line leak investigation with Elkin Engineering was ongoing in 2024; security cameras were deferred in 2025 partly over litigation exposure (Minutes 2025 p.4).

What the documents say (21)

“The power of the GRANTOR, its successors or assigns, to designate Directors as above referred to shall terminate no later than July 1, 2025.”Master Deed, Art. XXXII, p.30

“So long as the Class "II" membership exists, the Class "II" member shall have a veto power over all actions of the Board and any committee, as is more fully provided in this Section.”By-Laws, Art. III Sec. 3, p.60

“The Class II member shall be entitled to four (4) votes for each UNIT, inclusive of the COMMERCIAL UNIT, in which it holds the interest required for membership by Article XIII in the Master Deed provided that the Class II membership shall continue only so long as GRANTOR, its successors or assigns of the rights of GRANTOR as Class II member, is the Owner of one (1) or more UNITS in the entire Condominium.”By-Laws, Art. II Sec. 2, p.58

“At the first annual meeting after the termination of Class II control, five (5) Directors shall be elected.”By-Laws, Art. III Sec. 6(b), p.61

“For a period of ten (10) days following such receipt of the aforesaid notice to Grantor, Grantor its successors and assigns shall have the right to purchase the subject Unit upon the same terms and conditions as set forth in the offer therefor.”Master Deed, Art. XXXVIII (A), p.34

“The right of First Refusal provided for in this Article shall not apply to transfers of any Unit designated on the Condominium Plat or in the Master Deed for commercial purposes, or to transfers involving a foreclosure sale or other judicial sale or any transfer to a mortgagee in lieu of foreclosure, any transfer to a mortgagee following foreclosure sale or any proceedings to enforce or foreclose any lien, debt, or obligation, or deeds in lieu thereof, the transfer of one joint tenant's interest or co-tenant's interest to another, transfers to the spouse, child, children, family trust or family partnership of owner, by operation of law or otherwise, or to transfers to a trust by will or intestate distribution.”Master Deed, Art. XXXVIII (B), p.34

“The provisions of Article XXXVIII shall not be amended without the express written consent of the Grantor.”Master Deed, Art. XXXVIII (E), p.35

“First right of refusal - yes”HOA Q&A Notes (management company phone answers), p.1 (verified: the deed grants the right to the Grantor/developer and its assigns, not to the Association or other owners)

“Provided, however, any such rules or regulations which purport to diminish, abrogate or in any way affect the COMMERCIAL UNITS, including the LIMITED COMMON ELEMENTS appurtenant thereto or other rights reserved herein in favor of the GRANTOR, its successors and assigns, relative to the UNITS, COMMERCIAL UNITS, COMMON ELEMENTS, LIMITED COMMON ELEMENTS or any other portion of the Condominium shall not be binding upon the GRANTOR, its successors and assigns, unless and until the GRANTOR consents in writing to the same.”Master Deed, Art. XV, p.13

“Thereafter and otherwise, but subject to the provisions hereinafter provided, these By-Laws may be amended only by the affirmative vote (in person or by alternate) or written consent of Voting Members representing sixty-seven (67%) percent of the total votes of the ASSOCIATION, including sixty-seven (67%) percent of the votes of Members other than the GRANTOR.”By-Laws, Art. VI Sec. 6, p.71

“Grantor hereby declares, on behalf of itself, the ASSOCIATION, and any OWNER of a UNIT, that any and all right to trial by jury shall be waived by Grantor, the ASSOCIATION, or any OWNER of a UNIT in any dispute, proceeding, case or controversy arising under or related to the within Master Deed.”Master Deed, Art. XXXVII, p.33

“Despite numerous meetings onsite with the contractor and waterproofing product manufacturer, WCI has refused to make repairs.”Annual Members' Meeting Minutes 2024-10-08, p.4

“The HOA has retained an attorney to investigate the filing of a lawsuit by the HOA against the contractor.”Annual Members' Meeting Minutes 2024-10-08, p.4

“No litigation currently”HOA Q&A Notes (management company phone answers), p.1

“It was asked what is considered to be the commercial unit. It was noted that laundry chutes, closets, and storage areas make up the commercial unit.”Annual Members' Meeting Minutes 2023-10-19, p.4

“The GRANTOR, or an affiliate of the GRANTOR, may be employed as managing agent or manager.”By-Laws, Art. III Sec. 19(a), p.65

“No management contract may have a term in excess of three (3) years and must permit termination by either party without cause and without termination fee or penalty on ninety (90) days' or less written notice.”By-Laws, Art. III Sec. 19(b), p.65

“She noted there was one (1) open position, for a period of three (3) years, up for election.”Annual Members' Meeting Minutes 2025-11-07, p.3, Election of Directors

“GRANTOR reserves the right at any time to terminate Class II membership by filing an instrument in the records of Horry County, South Carolina, so doing.”By-Laws, Art. II Sec. 2, p.58

“The Board of Directors shall have the power to borrow money for the purpose of repair or restoration of the Common Areas or for the purpose of funding budgetary shortfalls, without the approval of the membership and in connection with such borrowing shall have the power to pledge assessments and reserve accounts to secure such borrowing;”By-Laws, Art. III Sec. 21, p.66-67

“If Claimant does not submit the Claim to mediation within 30 days after Termination of Negotiations, Claimant shall be deemed to have waived the Claim, and Respondent shall be released and discharged from any and all liability to Claimant on account of such Claim;”Master Deed, Art. XXXIX B(3)(b), p.36

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

Owners may rent their units short- or long-term with no minimum stay, no owner-use cap and no requirement to join the on-site program; renting personally or through an off-site manager is expressly contemplated (Master Deed Art. XIV p.12, Art. XXXVI p.32; management company phone answers p.1)
Guests of self-renting owners and off-site managers use the same pools and spas as program guests (the lazy river and spas are common elements open to all owners' guests), under a written HOA wristband policy that issues them orange wristbands and says wristbands are free (Common Element and Pool Use Policy p.1; Master Deed Art. VII p.9, Exhibit B p.45)
Dues cover in-unit electricity (the building is commonly metered), water/sewer, cable, phone and internet plus monthly pest control, so there is no separate in-unit utility bill for guest usage (Budget 2026 p.1; Master Deed Art. XXVII J p.25; management company phone answers p.1)
Reserve funding is $327,530, about 18.9% of the 2026 budget, up from $237,530 in 2025, and no special assessment appears in any budget or minutes from 2022 through 2026 (Budget 2026 p.1; Minutes 2023-2025)
After +15.5% (2023) and +19.3% (2024), total assessments were flat in 2025 and rose only 2.27% for 2026 (Budget 2024 p.1; Budget 2026 p.1)
The master insurance line has fallen from $515,000 (2024) to $376,000 (2025) to $315,000 (2026), and the June 2023 certificate lists a $25,000 per-occurrence wind/hail deductible, with a Lloyds wind-deductible buyback policy in the program (which usually means a larger underlying wind deductible has been bought down to that figure) (Budget 2026 p.1; Insurance certificate p.1-2)
Flood zone X with an NFIP RCBAP at full $16.75M replacement cost, a $1,250 deductible and zero prior NFIP claims (Insurance certificate p.3)
The developer's power to name the board had to end by July 1, 2025, and the November 2025 meeting was run by a five-member board with staggered terms electing a director by member vote, which is the post-turnover board the By-Laws prescribe; the Association has received clean audit opinions for 2022, 2023 and 2024 (Master Deed Art. XXXII p.30; By-Laws Art. III Sec. 6 p.61; Minutes 2025 p.1-3; Minutes 2024 p.2)
Violations are reported to the owner and rental agent within 24 hours on business days and urgent ones are handled with the guest on site, and fines are assessed first against the occupant (Minutes 2024 p.4; By-Laws Art. III Sec. 23 p.67)
Management contracts are capped at three years and terminable without penalty on 90 days' notice, and the By-Laws require audited annual statements and quarterly delinquency reports (By-Laws Art. III Sec. 19-20 p.65-66)
Liability program is robust for a 130-unit building: $1M/$2M general liability, $5M umbrella, $1M D&O, workers' compensation and $750,000 crime coverage (Insurance certificate p.2, p.4)
A buyer can demand a Grantor certificate that the right of first refusal was satisfied or waived, and a non-compliant transfer is conclusively cured if the Grantor does not sue within 90 days (Master Deed Art. XXXVIII C-D p.34-35)

Watch-outs

Deed-level monopoly: only Commercial Unit CU-1 may run rental management, reservations, key pick-up/drop-off, concierge or any commercial activity on the common elements, and owners who rent are 'restricted against using any part of the COMMON ELEMENTS to engage in the business of renting'; this cannot be amended without the Grantor's consent and a unanimous owner vote (Master Deed Art. XIV p.12-13)
Advertising gag: no photos or renderings of the exterior, interior or amenities and no use of the name 'Boardwalk' in any rental listing; only the recorded floor plans may be shown, which cripples an Airbnb/VRBO listing (Master Deed Art. XXXVI p.32)
Lock lock-out: owners may not change or add any lock, the electronic door locks belong to CU-1, the key system belongs to the Grantor, and the Board discourages lockboxes, so there is no deed-sanctioned way to hand keys to a self-managed guest (Master Deed Art. XVII p.14; Exhibit B p.46; Minutes 2025 p.4)
Off-site managers face an approval, security-deposit, $1M/$2M insurance, $15,000 bond, cleaner-approval and inspection regime, must post the Exhibit F 'not affiliated with the hotel, front desk' plaque in every unit, and their staff must use the service elevator and haul trash off the property (Master Deed Art. XXXVI p.32-33; Exhibits F-G p.72-74)
Right of first refusal: the Grantor (developer) and its assigns get 10 days to match any bona fide offer on a residential unit, with no expiry date and no amendment without Grantor consent; the management company's 'yes' is correct but the right belongs to the developer, not the HOA (Master Deed Art. XXXVIII p.34-35; management company phone answers p.1)
Dues rose 41% in four years: total assessments $1,227,927 (2022) to $1,730,818 (2026); a 1 Bedroom Suite went from $707 to $997 a month, a 2 Bedroom from $1,267 to $1,786 (Budget 2023 p.1; Budget 2026 p.1)
Insurance shock history: 2023 insurance was restated from $229,000 to $335,768 with a $106,768 operating-to-insurance transfer, 2024 jumped to $515,000 plus a $26,692 escrow shortfall, and $50,000 a year is budgeted for claim deductibles (Budget 2023 p.1; Budget 2024 p.1; Budget 2026 p.1)
The only insurance certificate supplied is from June 2023 and the property layer is split across eight carriers (mostly specialty and Lloyds markets) plus an excess layer and a buyback policy; current limits, carriers and deductibles need a fresh summary (Insurance certificate p.1-2)
Pending construction-defect fight: the 2019 WCI waterproofing on walkways and balconies is peeling, the contractor refuses repairs, an attorney and expert are engaged, and the legal budget went from $4,500 to $46,500; the 'no litigation currently' phone answer omits this (Minutes 2024 p.4; Budget 2026 p.1)
Wristband friction: off-program wristbands must be requested in writing and picked up at the HOA office by the owner or agent in advance (not at the front desk), the policy contradicts itself on whether they are free, colors change yearly, and a guest without a visible band is ejected from the pool (Common Element and Pool Use Policy p.1)
Parking passes must be fully completed for every guest or the car is towed at the owner's expense, and Parcel 1 spaces are 15-minute only (Minutes 2024 p.3; Master Deed Art. VI p.8-9)
Guest-facing rules to disclose: no pets, no smoking anywhere including balconies, no grilling, pools close at 10 PM, quiet after 11 PM, no towels on railings (Rules p.2)
Heavy collection remedies: 18% interest, acceleration, lien/foreclosure with a receiver, and the Association may shut off the unit's electricity 20 days after a missed payment (Master Deed Art. XXVII p.24-25)
Nearly all disputes with the Association or developer (assessment collection excepted) go to mandatory negotiation, mediation and binding arbitration with jury trial waived, and a claim is forfeited if not taken to mediation within 30 days or to arbitration within 15 days of the prior step ending (Master Deed Art. XXXVII-XXXIX p.33-39)
No reserve study, reserve balance or audit was supplied; the 2023 minutes warn lenders may demand an up-to-date reserve study, engineer report and appraisal (Minutes 2023 p.3)
Aging systems: 2001 building with elevator modernization still unresolved after six months of Board work, dehumidifier, fire panel and spa heater replacements queued, and a condensation-line leak investigation (Minutes 2025 p.3; Minutes 2024 p.3)
Conflicting answers on laundry: the management company said the property has laundry facilities, but the Board said on-site laundry is not viable because of the plumbing (management company phone answers p.1; Minutes 2025 p.3)
Only page 2 of the five-page recorded Rules was supplied; the Fine Policy (Exhibit A) and Trash Resolution it references are unknown (Rules and Regulations recorded 2/6/2019 p.2)
Developer veto may not be dead: only the Grantor's right to name the board expires July 1, 2025; its Class II four-votes-per-unit and veto over every Board action last as long as the Grantor or an assignee owns any unit, including Commercial Unit CU-1, unless a termination instrument is recorded, and none was supplied (By-Laws Art. II Sec. 2 p.58, Art. III Sec. 2-3 p.60-61; Master Deed Art. XXXII p.30)
The Board can borrow for repairs or budget shortfalls and pledge assessments and reserves without any owner vote, and can levy an assessment on all owners whenever insurance proceeds plus reserves do not cover a casualty repair (By-Laws Art. III Sec. 21 p.66-67; Master Deed Art. XXIV p.20)
Structural changes inside a unit need the Grantor's written consent (while it owns any unit) as well as the Board's, and unauthorized work can be removed at the owner's cost after 30 days' notice (Master Deed Art. XIX p.14-15)
Building entry points were unlocked as of October 2024 (owners complained of flyer solicitation in the halls and asked for entry locks), and the Board rejected a pool-access code as impractical and has no restrooms at the pool because of permitting (Minutes 2024 p.5; Minutes 2025 p.4)
Guests ride a 2001 building's elevators that the Board has been trying to modernize since mid-2025, and the only trash chutes belong to CU-1 while the HOA still paid a 'Trash Chute' maintenance line of $10,000-$18,000 a year (Minutes 2025 p.3; Budget 2023 p.1; Budget 2024 p.1; Master Deed Exhibit B p.46)

Unit type	Per month	Per year
2 Bedroom Suites / Lockouts (12 units, 1.2386% each) - 2026	$1,786	$21,432
1 Bedroom Deluxe (14 units, 0.8744% each) - 2026	$1,261	$15,132
1 Bedroom Suite (104 units, 0.6910% each) - 2026	$997	$11,964
Commercial Unit CU-1 (1 unit, 1.0332%) - 2026	$1,490	$17,880

Boardwalk Beach Resort.

The documents behind this page.

What the documents decide
before your first guest books.

Can you rent it your way?

Will your guests be treated like guests?

How much work lands on you?

Is the money healthy?

Who's really in charge?

For the owner who runs it themselves.

Working for you

Watch-outs

What you pay, and where it goes.

Regular assessments, 2026

What the dues cover

Where the budget goes

What to put in the house manual.

What to ask the association for.

Have the documents read
for the building you are weighing.

Boardwalk Beach Resort.

The documents behind this page.

What the documents decidebefore your first guest books.

Can you rent it your way?

Will your guests be treated like guests?

How much work lands on you?

Is the money healthy?

Who's really in charge?

For the owner who runs it themselves.

Working for you

Watch-outs

What you pay, and where it goes.

Regular assessments, 2026

What the dues cover

Where the budget goes

What to put in the house manual.

What to ask the association for.

Have the documents readfor the building you are weighing.

What the documents decide
before your first guest books.

Have the documents read
for the building you are weighing.