HOA Risk Assessment · Myrtle Beach oceanfront

Ocean Reef Resort.

Program-leaning. The resort is built around its on-site program. Self-managing works, with friction and some things your guests will not get.

Read from 7 association documents dated 2002–2026: Ocean Reef Resort North Tower Horizontal Property Regime. This page answers one question: what is it like to own here and rent it out yourself?

Fees & income for this resort → What to ask the HOA
40OUT OF 100
Program-leaning

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

Full read
Can you rent it your way?Typical
Will your guests be treated like guests?Caution
How much work lands on you?Red flag
Is the money healthy?Caution
Who's really in charge?Caution
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.

Ocean Reef Master Deed.pdf2005Ocean Reef CC&R.pdf2002· partialOcean Reef Rules & Regs.pdf2021Ocean Reef North Tower Budget 2026.pdf2026Ocean Reef North Tower Budget 2025.pdf2025· partialOcean Reef Meeting Minutes 2025.pdf2025· partialOcean Reef Meeting Minutes 2024.pdf2024
✓Master deed / declarationOn file
BylawsNot on file
✓Rules & regulationsOn file
✓Current budget with dues scheduleOn file
✓Latest annual meeting minutesOn file
Insurance summaryNot on 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?

Typical

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 is expressly allowed with self-management or any off-site manager and no minimum stay, and owners may use the resort name for their unit, but the owner must register occupants and a 30-minute response contact, strip all resort-service references and photos from listings, and print a mandatory no-front-desk disclaimer.

Short-term rentalsAllowed
Must use on-site programNo
Owner may rent it personallyYes
Off-site manager allowedYes
Owner-use limitsunstated; residential use only, no timeshare/interval ownership without Grantor approval (Master Deed Art. XIV)
RegistrationOccupancy registry with the Association (Ally Management, Inc.) listing every occupant and contact information, plus a single point of contact who can respond on behalf of the unit within 30 minutes (the Rules do not say the contact must be on site); Association must hold a working key or access code to every unit; guests must receive a copy of the Rules & Regulations before arrival. No city/business-license requirement is stated in these documents.
Advertising rulesOwners renting personally or through an off-site manager must not reference the on-site commercial services, operations or amenities in text or photographs; every electronic, digital, print or other listing must carry the mandated disclaimer. Owners MAY use the name 'Ocean Reef Resort' when referring to their unit: Master Deed Art. VII expressly entitles each residential owner to use the mark under S.C. Code 27-31-120, while reserving to the Grantor/Declarant the right to impose rules preventing misleading use of the name and photographic images as to inventory size or guest services. The commercial unit holds an exclusive advertising easement over corridors, elevators and building exterior; no 'For Rent' signs.
Disclaimer in your listingRequired
Vote to change rental rulesRules & Regulations may be revised by the Board alone. Master Deed amendments need 67% of members owning a unit, but the Article XIV commercial-activity restriction (which reserves rental-management/front-desk/guest-service business to the Commercial Unit) can only be amended with the Grantor's consent plus a unanimous vote of all unit owners; rules affecting the Commercial Unit are not binding on it without Grantor's written consent (Art. XV). Master Declaration amendments need 75% of master votes.
What the documents say (13)
“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 and to all terms and conditions of the Master Declaration.”Ocean Reef Master Deed, Article XIV, p.13
“UNIT OWNERS may rent their Units, but are restricted against using any part of the COMMON ELEMENTS to engage in the business of renting.”Ocean Reef Master Deed, Article XIV, pp.13-14
“Only the Owner of the COMMERCIAL UNIT shall be entitled to conduct commercial activities within the Regime.”Ocean Reef Master Deed, Article XIV, pp.13-14
“No UNIT or any portion thereof may be submitted to a plan of Interval Ownership or any form of timesharing without the prior written approval of the GRANTOR.”Ocean Reef Master Deed, Article XIV, p.13
“As a result, and in order to avoid any confrontations or other misunderstandings on- property, all Owners who elect to rent their units either personally, or through an off-site rental management company, shall refrain from referencing the availability of such commercial service, operations and amenities (whether in text or photographs).”Ocean Reef Rules & Regs, COMMERCIAL AREAS, p.3
“In addition, any electronic, digital, print or other media listings, advertising or marketing materials for such units shall include the following disclaimer: "RENTAL OF THIS UNIT DOES NOT INCLUDE ANY FORM OF FRONT-DESK SERVICE OR ACCESS TO, OR USE OF, CERTAIN COMMERCIAL OPERATIONS LOCATED UPON THE PROPERTY".”Ocean Reef Rules & Regs, COMMERCIAL AREAS, p.3
“Any and all guests of such units shall receive a copy of these rules and regulations prior to arriving at the property.”Ocean Reef Rules & Regs, COMMERCIAL AREAS, p.3
“For safety and security, an occupancy registry shall be required by the Association, such that the Association shall at all times have immediate access to a record of all persons occupying units within the property, along with the relevant contact information in the event of an emergency i.e. fire, flood, terrorism, gas leak, hurricane etc.”Ocean Reef Rules & Regs, UNIT OCCUPANCY, pp.3-4
“(iii) in the case of owners that desire to rent residential UNITS they own, to impose reasonable rules and regulations concerning the advertisement of UNITS for rent by owners and rental managers to prevent use of the name and photographic images of Ocean Reef Resortsм in a manner that is misleading to the general public as to the size of inventory of UNITS that is being offered or as to the types of guest services that are available in connection with the rental.”Ocean Reef Master Deed, Article VII, p.10
“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.”Ocean Reef Master Deed, Article XIV, pp.13-14
“PLEASE NOTE: To further enforce the policies, these Rules and Regulations are subject to revision by the HOA Board of Directors.”Ocean Reef Rules & Regs, p.4
“It is also each owner's responsibility to ensure that his/her rental agent and guests understand and observe all rules and regulations.”Ocean Reef Rules & Regs, GENERAL, p.1
“except that each owner of a residential UNIT is entitled to use the mark "Ocean Reef Resortsм" when referring to the UNIT under the circumstances provided in § 27-31-120 of the South Carolina Code Annotated (Revised 1991)”Ocean Reef Master Deed, Article VII, p.10 (OCR as scanned)
02

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 keep pools, lazy river, beach and fitness room with owner-issued wristbands, keys and passes, but are excluded from front desk, restaurants and bars, gift shop, guest laundry, business center and housekeeping, must haul their own trash to the compactor behind the adjacent River City Café, the listing must say so, and the master may eliminate amenities without replacing them.

Amenities for your guestsMost, not all
Off limits to your guestsCafé du Port (restaurant), Banana Boat Lounge, The Tiki Bar, Guest Laundry on 2nd floor, The Business Center, Gift Shop, Front Desk Services, Housekeeping & Maintenance Services, Trash chutes (exclusive to the Parcel 2 commercial unit under CC&R 4.5), Linen chute, maids' closets and service elevator (exclusive to Commercial Unit)
Wristbands & parking passesAssociation mails non-program units 'several' pool wristbands near the start of each year, ten common-area keys, fitness-room key cards and parking passes; owner distributes them to guests. Extras requested from the Association Office Monday-Friday 9-5; 'Charges will apply' for additional keys. Guests must wear pool bands on the pool deck. One parking space per vehicle; vehicles may not stay longer than the guest occupies the unit.
Check-inowner handles (disclaimer states no front-desk service; standardized owner door locks keyed to a resort master key)
TrashOff-program guests and owners may NOT use the building trash chutes: the trash chute is reserved to the Parcel 2 commercial unit by Master Declaration (CC&R) Sec. 4.5. The Rules & Regs say 'Per the Master Deed', but the recorded North Tower Master Deed Art. XIV reserves only the maids' closets, linen chute and service elevator to the Commercial Unit and never mentions trash chutes. All trash must be bagged in heavy-duty plastic and carried to the compactor behind the adjacent River City Café on 73rd Ave North (the Rules do not call it off-site). No bags outside unit doors. Furniture, appliances, screens and boxes must be taken to a proper dump site off premises at owner's expense.
ElevatorsPools, fitness room and passenger elevators are common elements open to owners, guests and renters. However, Master CC&R 4.5 bars maids, repairmen and movers from the passenger elevators and directs them to the Parcel 2 service elevator, while the North Tower Master Deed Art. XIV reserves that service elevator to the Commercial Unit owner, so an off-program owner's cleaners and contractors have no clearly permitted elevator; move-ins/outs must be during business hours and coordinated with building maintenance.
Housekeeping & linenOwner-arranged independent contractors may provide daily or weekly maid service, but may not use the on-premises maids' closets, linen chute or service elevator; the resort's housekeeping, maintenance and 2nd-floor guest laundry are commercial-unit services unavailable to off-program guests. Bulk up-fit (2024-2025) and new sliders were association projects, not a linen/housekeeping program. Only the hallways on floors 1, 2 and 17 are air conditioned; other corridors are not (CC&R 4.5; Master Deed Art. XXII).
What the documents say (16)
“Access to portions of the property's commercial operations and amenities are limited to only those guests renting through the on-site commercial management company.”Ocean Reef Rules & Regs, COMMERCIAL AREAS, p.3
“The Commercial areas include; Café du Port, Banana Boat Lounge, The Tiki Bar, Guest Laundry on 2nd floor, The Business Center, Gift Shop, Front Desk Services and Housekeeping & Maintenance Services.”Ocean Reef Rules & Regs, COMMERCIAL AREAS, p.3
“Per the Master Deed, the trash chutes are for the exclusive use of the Commercial Unit Owner; therefore units not participating with the onsite rental company, must discard all trash in the compactor located at River City Café.”Ocean Reef Rules & Regs, TRASH, p.2
“All trash and unit debris must be secured in a heavy-duty plastic bag and deposited into the compactor located in the rear of River City Café on 73rd Ave North.”Ocean Reef Rules & Regs, TRASH, p.2
“The trash chute and the linen chute on Parcel 2 is for the exclusive use of the commercial units on Parcel 2 and may not be used by the owners of units in the building on Parcel I without the express written consent of the owner of the commercial space in building constructed on Parcel 2.”Ocean Reef CC&R, Article IV, Section 4.5, p.12
“The elevators in buildings on Parcel I and Parcel 2 shall not be used for maids service, repairmen, or movers.”Ocean Reef CC&R, Article IV, Section 4.5, p.12
“All such persons shall use the service elevator in the building on Parcel 2.”Ocean Reef CC&R, Article IV, Section 4.5, p.12
“Daily or weekly maid service is permitted by independent contractors acting for one or more UNIT OWNERS, but only the owner of the COMMERCIAL UNIT shall be entitled to use the on premises maids closets, the linen chute, and the service elevator.”Ocean Reef Master Deed, Article XIV, pp.13-14
“Units not participating on the onsite rental program will be sent ten (10) common area keys.”Ocean Reef Rules & Regs, KEYS, p.1
“Units not participating on the onsite rental program, will be sent several wristbands near the beginning of each year.”Ocean Reef Rules & Regs, WRISTBANDS, p.1
“Units not participating with the onsite rental company will be sent parking passes to distribute to their guests.”Ocean Reef Rules & Regs, PARKING, p.2
“Units not participating on the on-site rental company will be sent key cards to access the fitness room.”Ocean Reef Rules & Regs, FITNESS ROOM, p.3
“The fitness room is available for use by owners, their guests and renters.”Ocean Reef Rules & Regs, FITNESS ROOM, p.3
“Guests must wear appropriate pool bands while on pool deck.”Ocean Reef Rules & Regs, SWIMMING POOLS, p.2
“The Master Declaration also provides the Master Association with power and authority to eliminate amenities and facilities on Parcels 1, 2, and 3 without obligation to replace them.”Ocean Reef Master Deed, Article VI, p.9
“Notice is hereby given that the hallways serving the units on floors I, 2 and 17 of the building constructed on Parcel 2 are air conditioned, but that hallways and corridors serving other floors are not.”Ocean Reef CC&R, Article IV, Section 4.5, p.12 (OCR as scanned)
03

How much work lands on you?

Red flag

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.

Thirty-minute response contact for every rental, owner-hauled trash to the compactor behind River City Café, no permitted elevator for cleaners or movers, mandated master-keyed locks billed to the owner, licensed/insured contractors who sign in at the front desk, and $200-plus-$50/day fines for guest violations.

Local contactOccupancy registry must name a single point of contact for the renting owner who can respond on behalf of the unit within 30 minutes to any rule violation or emergency.
Response time30 minutes (Rules & Regs, UNIT OCCUPANCY).
Locks & keysAssociation must hold a working key or access code to every unit (Master Deed Art. XVII allows the Association to require a key deposited at the resort front desk). From Q1 2025 all non-program units must install a Board-standardized door lock (Wi-Fi or non-Wi-Fi version) keyed to a resort master key held in the executive office, billed to the owner's account. No lockboxes in hallways or stairwells; entry door and lock modifications require Board approval. Ten common-area keys issued; extras cost money.
FinesViolations are to be reported to the Association Office (Ally Management, Inc.) immediately; the owner of the offending unit is issued a warning first, then fines starting at $200 per infraction plus a $50/day per-diem for wilful violations until remedied; smoking/vaping fines start at $250 per occurrence; throwing anything off a balcony results in eviction of all guests. Fines are a lien on the unit and personal obligation of the owner whether the violation occurred during owner or guest occupancy; under the Rules the Board's hearing decision is final. The recorded By-Laws (Exhibit E Art. III Sec. 23) are more protective: 10 days' written notice, a hearing before a Covenants Committee and a right of appeal to the Board; fines are assessed first against the occupant, then the owner if unpaid; the Association recovers attorney's fees in enforcement.
Contractors & vendorsContractors must be licensed in Horry County and the City of Myrtle Beach, insured for liability and workers' comp with a COI naming the Association as additional insured, sign in at the front desk for a name tag, work 9:00AM-5:00PM only, no tile cutting on balconies or exterior penetrations; owner liable for contractor damage to common elements and debris removal. Movers/repairmen barred from passenger elevators under the CC&R and the service elevator is reserved to the Commercial Unit. Move-ins/outs only during business hours coordinated with building maintenance. Structural or exterior alterations need written Association approval; all balcony furniture must be brown; uniform white window-treatment backing.
AlsoOwners must carry HO-6 liability and contents coverage beyond the master HO6 program; the Association MAY perform monthly pest-control spraying inside units (Master Deed Art. XVIII is permissive, not a commitment, and the budget has no pest-control line; the 2024 minutes note a Board-approved preventive bed bug service); Association may shut off commonly-metered utilities to a unit 20 days delinquent; mandatory negotiation-mediation-binding arbitration and jury-trial waiver for most disputes; Master Deed 'AS IS' acceptance and Grantor mold/mildew disclaimer for a 1974 building; owner responsible for all in-unit HVAC, appliances, window glass and sliding glass doors (the slider replacement was not special assessed but was debt-financed through the reserve fund and is being repaid through the higher reserve line in regular dues).
What the documents say (18)
“Additionally, such registry shall include a singular point of contact for, and on behalf of the renting owner(s) who can respond on behalf of the unit within 30 minutes to any and all violations of the rules and regulations of the Association or in the event of an emergency.”Ocean Reef Rules & Regs, UNIT OCCUPANCY, p.4
“Per the Master Deed, the Association must have a working key or access code to every unit in the event of an emergency.”Ocean Reef Rules & Regs, KEYS, p.1
“These standardized door locks will be keyed to a master key which will be secured in the executive office at the resort.”Ocean Reef Meeting Minutes 2024, Item 9.B Standardized Unit Door Locks, p.4
“The cost of the standardized door lock will be billed to the respective homeowner's account.”Ocean Reef Meeting Minutes 2024, Item 9.B Standardized Unit Door Locks, p.4
“Assessed fines shall start at $200.00 per infraction (unless otherwise stated) and may, for wilful violations, include an additional, daily per diem penalty of $50.00 per day until the violation is remedied.”Ocean Reef Rules & Regs, VIOLATIONS, p.4
“Repeated or continued violations of the rules and regulations (whether occurring during owner or guest occupancy) may result in fines and/or legal action against the owner of the unit.”Ocean Reef Rules & Regs, VIOLATIONS, p.4
“Throwing any items off the balcony will result in all guests being evicted from the unit.”Ocean Reef Rules & Regs, BALCONIES, p.1
“Smoking or vaping of any kind is strictly prohibited on the Association property including within units and balconies as this is a Non-Smoking property.”Ocean Reef Rules & Regs, SMOKING, p.2
“All contractors must sign in and receive a name tag or identifiable marker from the front desk before entering the property and performing any services.”Ocean Reef Rules & Regs, UNIT MAINTENANCE / CONTRACTOR WORK, p.3
“Contractors used must be licensed in Horry County as well as the City of Myrtle Beach.”Ocean Reef Rules & Regs, UNIT MAINTENANCE / CONTRACTOR WORK, p.3
“All owners are required to obtain an HO-6 insurance policy that provides liability and content coverage if not provided by the HOA.”Ocean Reef Rules & Regs, INSURANCE, p.3
“All move in and move out activities must be done during business hours and coordinated with building maintenance.”Ocean Reef Rules & Regs, TRASH, p.2
“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.”Ocean Reef Master Deed, Article XVIII, p.16
“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, the condition of the building, or UNITS, or COMMON ELEMENTS.”Ocean Reef Master Deed, Article XXXVIII, p.37
“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.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 23, p.68
“Violations of the posted rules and regulations should be reported to the Association Office (Ally Management, Inc.) immediately. Upon the occurrence of any infraction, the owner of the offending unit shall be issued a warning.”Ocean Reef Rules & Regs, VIOLATIONS, p.4
“Following a hearing before the Covenants Committee, the violator shall have the right to appeal the decision to the Board of Directors.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 23(c), p.68
“[The manager] reported the Board had approved a preventive bed bug service.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4 (speaker name omitted)
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.

Reserve contributions are about 26% of budget and inclusions are strong, but the reserve fund is negative ($3.56M) under a $3.93M loan so the contribution is largely debt service, regular assessments rose 10.6% then 9.2% (studio total dues +9.6% then +6.7%), about 65% of the budget is an opaque master pass-through with one-of-three voting and a master lien on each unit, operating cash is thin, the reserve study dates to 2016, the tower alone owes the first elevator replacement, and a 2025 opt-in special assessment is being collected over 84 months.

2026 budget$3,568,027
Dues change+6.7% on the year
Reserves26% of budget
Reserve balance$408,995
Reserve studyOn file
Special assessments2025 unstated per unit; opt-in bulk up-fit assessment by unit type, payable in full or in 84 monthly payments with interest from June 2025; funded by a construction loan with maximum borrowing of $13,164,000 at approx. 7.31% interest-only then 7-year amortization maturing May 2032, secured by liens on opt-in units Bulk up-fit (unit interiors and common-area revitalization) begun 2024; Up-fit Fund showed $5,516,184 accrued up-fit assessments receivable and a $4,614,047 Synovus Upfit Loan at 9/30/2025; 2023 $57,672 (association-level, folded into regular assessments) Additional insurance assessment levied by the Master Association on the North Tower association; 2025 none to owners; 'Sliders were not being special assessed this year.' Reserve line raised $584K and reserves borrowed instead Sliding glass door replacement (Oceanfront Tower, then North Tower) — reserve fund carried a $3,929,892 Synovus Reserve Loan at 9/30/2025
InsurancePremium shown is the Master HO6 unit program only ($115,000 budgeted for 2026, 3.2% of budget, down from $165,000 in 2025; FY2024 audited expense $140,543); the building property/liability/flood premium is not separately stated for the North Tower. The insurance schedule dated November 3, 2025 in the North Tower packet (property address 7100 N. Ocean Blvd) names 'Ocean Reef Resort HOA, Inc.' as insured; that is not the Master Association's legal name (Ocean Reef Master Homeowners' Association, Inc.) and matches the name the CC&R First Amendment gives the Parcel 1 (South Tower) regime, while Master Deed Art. XXIV says insurance 'shall be purchased by the Master Association'. Which entity buys the property/liability/flood program and how the premium is allocated to the North Tower is unstated; it reaches owners inside the Master Association Dues Transfer. The HO6 premium is collected as a monthly insurance assessment shown separately on the dues breakdown ($35.08 studios/parlors/1A/1B, $49.11 suites/2BR, $63.14 4BR/PH per month in 2026, down from $50.33/$70.46/$90.59 in 2025); the 'Monthly Insurance Assessments' revenue line ($123,750 for nine months of 2025) is that HO6 collection, matched by the Master HO6 Insurance expense budget. The master HO6 gives each unit $14,000-$26,300 improvements & betterments plus $15,000-$25,000 loss of use and follows the unit on sale. Broker said in September 2024 the market had begun to stabilize and to expect a 10% premium increase in 2025. The $500,780 named-storm deductible (and $25,000 AOP) can be special-assessed by the master board under CC&R 7.7.
Wind deductible$500,780 Named Storms on the master property policy (Grand Strand Resort Insurance Company, $52,789,000 TIV, $25,000 all other perils, $50,000 earthquake, $25,000 water damage); HO6 unit program (Lloyds of London) $5,000 wind/hail, $5,000 flood, $2,500 AOP, $5,000 earthquake
FloodMaster flood policy via Homesite Insurance Company (NFIP program) with $25,000 deductible; special-form property coverage includes wind-driven rain, flood and earthquake perils; no wind-driven-rain sublimit per 2024 broker remarks
Passes through to a master association65% of the budget
DelinquencyCollections appear healthy: assessments receivable $53,863 and allowance for doubtful accounts $37,037 at 9/30/2025 against $3.57M budget; FY2024 recorded a $31,787 bad-debt recovery and no allowance at 12/31/2024; bad debt budgeted at $3,000. Operating liquidity is thin: operating fund balance $174,082 at 12/31/2024 on $2.8M of operating expenses; operating cash $45,737 plus $52,872 insurance escrow at 9/30/2025. At 12/31/2024 cash at one bank exceeded the FDIC limit by $1,488,950 (FY2024 Note 7). Policy: liens and legal counsel at 90 days delinquent; Master Deed imposes 18% interest, $25 late fee after 30 days, acceleration, utility shut-off after 20 days, and foreclosure with receiver and market rent. In any voluntary conveyance the grantee is jointly and severally liable with the grantor for unpaid assessments (Master Deed Art. XXVII.L). Master Declaration late charge is 5% per month on master assessments owed by the subordinate association; under CC&R 7.2 each unit owner is also responsible for a pro rata share of what the tower owes the master, payment to the tower is not payment to the master until the tower pays in full, and Master Deed Art. VI grants the master a lien on each unit.
What the documents say (43)
“TOTAL INCOME 3,335,129 3,568,027 232,898 6.98%”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, REVENUES
“50500 Master Association Dues Transfer 1,973,646 2,127,613 153,967”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Master Association Expense
“99910 General Reserves 762,000 879,000 117,000”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Other Expenses
“83310 Master HO6 165,000 115,000 -50,000”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Other Expenses
“She noted that the 2025 budget reflected a 9.60% increase.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“There was a $308K reduction in the contribution to the Master Association.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“The general reserve line was increased by $584K to accommodate the slider project, as well as a future slider project for the North Tower.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“Sliders were not being special assessed this year.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“He further mentioned that most reserve expenses run through the Master Association.”Ocean Reef Meeting Minutes 2024, Item 7.B Reserves Review, p.3
“The Association could expect a 10% increase in premium in 2025.”Ocean Reef Meeting Minutes 2024, Item 5.B Insurance Review, p.2
“The Association is a subordinate regime of the Ocean Reef Master Homeowners Association.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9 Master Association Assessments, p.44
“The total regular assessments incurred and paid to the Master Association were $2,282,496 and $1,738,301 for the years ended December 31, 2024 and 2023, respectively, and are shown as an expense within the Association's statements of revenues and expenses and changes in fund balances.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9, p.44
“During 2023, the Master Association levied an additional insurance assessment to the Association totaling $57,672, which is shown as an expense within the Association's statements of revenues and expenses and changes in fund balances.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9, p.44
“During 2024, the Association obtained a construction loan payable, with a maximum borrowing of $13,164,000, to assist in the bulk up-fit project described in Note 13 along with a sliding glass door reserve fund project.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 14 Loan Payable, p.46
“The loan payable is secured by liens filed on those unit owners who opted in to the project and who chose to make monthly payments along with assignments of all assessments.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 14, p.46
“Beginning the first month following the final construction period advance, the Association shall make monthly principal and interest payments amortized over a seven (7) year period, maturing in May 2032.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 14, p.46
“In May 2025, the Association levied a special assessment to those unit owners who opted into the bulk up-fit fund project.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 15 Subsequent Events, p.47
“Unit owners who opted into the project will be subject to a bulk up-fit assessment and had the option of paying in full (without any additional interest) or making eighty-four (84) equal monthly payments beginning in 2025, with interest added.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 13 Bulk Up-fit Fund, p.46
“The following is based on a reserve study performed by an outside engineering company in 2016 and presents significant information about the components of common property.”Ocean Reef Meeting Minutes 2025, Supplementary Information on Future Major Repairs and Replacements (Un-audited), p.49
“However, these funds may be used, as needed, for any Association purpose at the discretion of the Board of Directors.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 8 Major Repairs and Replacements, p.44
“Regular monthly assessments to unit owners ranged from $802 to $2,590 in 2024 and $656 to $2,110 in 2023.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 10, p.45
“$25,000 All Perils except: $500,780 Named Storms”Ocean Reef Meeting Minutes 2025, Insurance Schedule dated November 3, 2025, Property, Deductibles, p.50
“When in default, the delinquent assessment or delinquent installment thereof due to the ASSOCIATION shall bear interest at the rate of eighteen (18%) percent per annum until such delinquent assessment or installment thereof, and all interest due thereon, have been paid to the ASSOCIATION.”Ocean Reef Master Deed, Article XXVII.G, p.26
“If Phase II of the Parcel 2 Subordinate Association is added, the pro-rata share of expenses allocable to Parcell will be decreased from 47% to 38% and the allocable share of expenses allocable to Pal'cel 2 will be increased from 53% to 62%.”Ocean Reef CC&R, First Amendment (February 21, 2005), Paragraph 5 Reallocation of Common Expenses, p.5 (OCR as scanned)
“The Association may look solely to the Subordinate Associations and Owners for payment of Assessments and not to the individual members of said Subordinate Associations.”Ocean Reef CC&R, Article VII, Section 7.2, p.20
“60010 Electricity (Units) 196,800 196,800 0 Total Master Expense 2,170,446 2,324,413 153,967”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Master Association Expense
“30100 Regular Assessments 2,973,329 3,247,002 273,673”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, REVENUES
“99910 General Reserves 177,580 762,000”Ocean Reef North Tower Budget 2025, 2025 Approved Operating Budget, Other Expenses
“The total electricity assessments incurred and paid to the Master Association were $196,800 for each of the years ended December 31, 2024 and 2023, respectively.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9, p.44
“Due to Upfit Synovus Reserve Loan TOTAL CURRENT LIABILITIES ... $ 62,208 $ 3,929,892 $ 3,992,101 ... TOTAL HOMEOWNERS' EQUITY $ (3,561,509)”Ocean Reef Meeting Minutes 2025, Reserves Balance Sheet as of 9/30/2025, p.77 (table cells extracted out of column order; loan balance is $3,929,892)
“Common Area/Sliders ... Reserve Loan Interest 4,821,486.63 ... 196,853.68”Ocean Reef Meeting Minutes 2025, Reserves Income Statement, Nine Months Ended 9/30/2025, p.78 (cells joined)
“Bulk Upfit Loan Interest 151,534”Ocean Reef Meeting Minutes 2025, Reserves Upfit Fund Income Statement, Nine Months Ended 9/30/2025, p.80
“The monthly assessment to the commercial unit owner was $5,388 in 2023 and $5,034 in 2022.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 10, p.45
“At December 31, 2024, balances of cash in one (1) of the Association's financial institutions exceeded the federally insured limit by $1,488,950 and at December 31, 2023 all balances were FDIC insured.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 7, p.44
“Cash - Operating Cash-Insurance Escrow $ 45,737 52,872”Ocean Reef Meeting Minutes 2025, Operating Balance Sheet as of 9/30/2025, p.75 (cells joined)
“Provided, however, that the Unit Owners shall also be responsible for paying their pro rata share, based upon total Units within their Subordinate Association, of any Assessments for which their Subordinate Association is responsible.”Ocean Reef CC&R, Article VII, Section 7.2, p.20
“Furthermore, pursuant to the Master Declaration, the Master Association is hereby granted a lien upon each UNIT and its appurtenant undivided interest in the COMMON ELEMENTS, which lien shall secure and does secure the monies due for all assessments now or hereafter levied against the ASSOCIATION by the Master Association”Ocean Reef Master Deed, Article VI, p.9
“Common Expenses shall not include the first replacement of the elevators located upon Parcel 2, which shall be at the expense of the Owner or Subordinate Association of Parcel 2.”Ocean Reef CC&R, Article I, Section 1.10, p.3 (repeated in 5.2 and 7.6)
“The ASSOCIATION shall pay for the first replacement of all elevators, including the service elevator.”Ocean Reef Master Deed, Article XXII, p.19
“which shall be the amount of the deductible under any insurance policy in the event of an insured loss, of any taxes or construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Common Areas and Common Easements”Ocean Reef CC&R, Article VII, Section 7.7, pp.21-22 (page footer 21 falls mid-sentence)
“Grantor has made an initial contribution in the amount of $700,000.00 to the ASSOCIATION as reserves for replacements and repairs of components of the Phase I Building”Ocean Reef Master Deed, Article XXXVII, p.36
“It is recommended that the Board of Directors periodically commission an independent engineer to inspect and determine the anticipated useful life of each portion COMMON ELEMENTS in order the inure that sufficient reserves are maintained.”Ocean Reef Master Deed, Article XXVII.D, p.25 (OCR as scanned)
“In any voluntary conveyance of a UNIT, the grantee shall be jointly and severally liable with the grantor for all unpaid assessments against grantor made prior to the time of such voluntary conveyance”Ocean Reef Master Deed, Article XXVII.L, p.28
05

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 board has been owner-elected since the Grantor's appointment right ended in 2012 and ordinary amendments need 67%, but the Grantor's Class II veto has no confirmed end date in the documents, the Commercial Unit holds a deed-level monopoly on front-desk, rental-management and guest services (service elevator, linen chute, advertising, plus the trash chute via the master declaration) that only Grantor consent plus a unanimous vote can change, disputes go to binding arbitration with a jury waiver, and the master association controls most spending with the tower holding one vote in three.

StructureTwo tiers: a master association above this one
Master associationOcean Reef Master Homeowners' Association, Inc. (Master Declaration recorded September 13, 2002, Deed Book 2518/1301; North Tower is Parcel 2, South Tower is Parcel 1, Parcel 3 is land west of Ocean Blvd)
Commercial unitYes, with its own deed rights
On-site operatorNot stated. Brittain Resorts & Hotels representatives attended the 2024 annual meeting, and the minutes separately refer to 'the rental management group' remaining available for rental-program questions without naming it, so the operator identity is inferred, not stated; the documents also do not state who owns Commercial Unit CU-1 today. Association manager: Ally Management, Inc.
BoardNorth Tower: 3 to 7 directors elected by owners (votes weighted by percentage interest), two-year terms after the initial staggered 3/2/1-year terms; removable by majority of membership; at least two meetings a year, open to members. Nominations by mailed request and from the floor. 2024 election: two incumbents re-elected by acclamation, no other candidates. Management contracts are capped at one year and terminable on 90 days' notice, but the North Tower By-Laws text says 'with cause or penalty' (Exhibit E Art. III Sec. 19(b)), and Sec. 19(a) says that where possible the same managing agent shall serve the Master Association and each subordinate association and that the Grantor or an affiliate may be employed as manager. Master Association: 3 to 9 directors, one elected by each Parcel (South Tower, North Tower, Parcel 3), so the North Tower regime holds one of three master seats and one of three master votes. Minor internal conflicts in the master documents: CC&R 6.2 says three-year staggered terms while the Master By-Laws Art. III Sec. 4 say two-year terms after initial 1/2/3-year terms; CC&R 6.7 allows management contracts up to five years terminable for cause on 60 days while Master By-Laws Art. III Sec. 17(b) cap them at one year terminable without cause on 90 days.
Developer rightsGrantor (Oceanfront Condominium Development, Inc.): the right to designate a majority of the North Tower Board terminated no later than February 28, 2012 (Master Deed Art. XXXII). The Class II membership (four votes per unit, By-Laws Art. II Sec. 2) and the Class II veto over all Board actions (By-Laws Art. III Sec. 3) run only 'so long as the Class II membership exists', which ends when the Grantor or its assigns own fewer than five units or record a termination; the documents do not confirm that date, although the 2024 election was conducted entirely with owner nominees. Phasing rights (Phases II-VI, including Phase III-IV conversion of the Governor's Port meeting room and ground-level commercial areas to units) expired February 28, 2012 (Phase II exercised 2006). Surviving Grantor rights: consent needed to amend Article XIV commercial restriction, Article XXII maintenance, timeshare approval, advertising rules on the resort name/photos, and any provision reserving rights to Grantor. Master Declarant (Martinique Investors, LLC / Winchester Oceanfront Corporation) appointed all master directors until January 1, 2013, reserved the option to convert the Parcel 2 bar/restaurant/kitchen/laundry areas and Governor's Port meeting room to residential units and the Parcel 3 ballroom to a restaurant/bar, with converted areas ceasing to be Common Areas (CC&R Art. II Notice of Planned Changes; First Amendment para. 3), and may still add Additional Property and amend unilaterally for limited purposes within a 25-year option term from the September 2002 recording (to September 2027).
Commercial-unit rightsDeed-level: Commercial Unit CU-1 may be used for all legal commercial purposes including general rental management, front desk, key pick-up/drop-off, concierge, cable/internet/phone to units, restaurant, lounge, gift shop, guest laundry, cell tower; exclusive use of the linen chute, maids' closets and service elevator (Master Deed Art. XIV); trash chute exclusivity rests on Master Declaration (CC&R) 4.5, not the Master Deed; exclusive perpetual advertising easement over corridors, elevators and building exterior; right to vend food, beverage and retail on all pool decks; may alter non-structural parts of CU-1 without Board consent; rules that diminish its rights are not binding without Grantor consent; may specifically enforce Article XIV against the Association and owners with fee-shifting; its Article XIV suits are exempt from the arbitration clause; its rights can be amended only with Grantor and all commercial-unit owners' consent. Pays 2.7622% of assessments ($7,948.39/month in 2026, up from $5,034 in 2022 and $5,388 in 2023 per FY2024 Note 10, so its share rises with everyone else's).
VotesNorth Tower: one vote per unit weighted by Exhibit C percentage interest (studio 0.3136%, CU-1 2.7623%); quorum 51%; proxies allowed. Master: one vote per Member (Parcel/Subordinate Association), the North Tower board casts the North Tower vote.
Changing the deedMaster Deed: proposed by Board majority or members owning a majority of units, adopted by 67% of members owning a unit; unanimous consent for changes to percentage interests or assessment apportionment; Grantor consent for Grantor rights; Grantor plus all commercial-unit owners for commercial rights. By-Laws: 67% of total votes including 67% of non-Grantor votes. Rules & Regulations: Board alone. Master Declaration: 75% of master votes (plus affected owner/mortgagee); Master By-Laws 75%; CC&R 4.4 residential/commercial restriction needs Declarant consent and unanimous owners. Master Declaration term: 30 years from the September 2002 recording (to 2032), then automatic 10-year renewals unless 75% of master votes terminate (CC&R 10.4).
Disputes or lawsuitsNo pending litigation disclosed; FY2024 audit Note 4 says only routine collection and covenant matters. Master Deed Art. XXXIX imposes mandatory negotiation, mediation and final binding arbitration (claims deemed waived if deadlines missed) and Art. XXXVIII waives jury trial; CC&R 6.6 makes master Board determinations final and binding on members and CC&R 10.14 also waives jury trial. 2014-2016 tri-party purchase of the formerly leased lobby/offices/fitness-room/front-parking parcel with the master and Martinique Investors, LLC (North Tower 6.7%, master 75.8%, Martinique 17.5%).
What the documents say (22)
“The number of Directors in the ASSOCIATION shall not be less than three (3) nor more than seven (7), as provided below.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 4, p.61
“Each member elected thereafter shall be elected for a two (2) year term.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 6(b), p.62
“The power of the GRANTOR, its successors or assigns, to designate Directors as above referred to shall terminate no later than the 28th day of February, 2012.”Ocean Reef Master Deed, Article XXXII, p.33
“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.”Ocean Reef Master Deed, Article XXIX, p.30
“Without limiting the commercial activities reserved in favor of the COMMERCIAL UNIT(S) as set forth in this Master Deed, the COMMERCIAL UNIT(S) may be used for all legal commercial or business purposes 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 key pick up and drop off, front desk, concierge, cable, movie, internet, wireless broadband, and telephone service to RESIDENTIAL UNITS and other rental property, shops, stores, sales, vending, gaming machines, if permitted by law, cell towers, guest laundries, restaurant, lounge, game room, real estate sales, health spa, night clubs or any combination of such uses.”Ocean Reef Master Deed, Article XXXVI.B Definitions, p.34
“Furthermore, a perpetual, appurtenant, exclusive easement for advertising is hereby reserved over the comidors, passageways, elevators, building exterior, and other COMMON ELEMENTS, which easement is a LIMITED COMMON ELEMENT for the exclusive use and benefit of the COMMERCIAL UNIT and the OWNER thereof.”Ocean Reef Master Deed, Exhibit B, p.46 (OCR as scanned)
“The owner of the COMMERCIAL UNIT shall have the right to specifically enforce the provisions of Article XIV restricting the right or authority of the Association or the OWNERS of other UNITS to conduct commercial activities.”Ocean Reef Master Deed, Article XXX.F, p.32
“Notwithstanding the foregoing, the COMMERCIAL UNIT OWNER shall have the right, without the consent or permission of the Board of Directors of the ASSOCIATION, to make such changes and alterations to non-structural components of the COMMERCIAL UNIT(S) as it or they may unilaterally desire and the ASSOCIATION, the Board of Directors, and other UNIT OWNERS shall not have the right to object thereto.”Ocean Reef Master Deed, Article XIX, p.17
“Subject to the provisions of the By-Laws, each Member shall have one vote on all matters considered by the Association.”Ocean Reef CC&R, Article VI, Section 6.1, p.15
“(a) Parcel I shall elect one (I) of the Directors to represent that Parcel, Parcel 2 shall elect one (I) of the Directors to represent that Parcel, and Parcel 3 shall elect one (I) of the Directors to represent that Parcel.”Ocean Reef CC&R, Exhibit F Master By-Laws, Article III, Section 3(a), p.37 (OCR as scanned)
“Such amendment must be approved by Members holding at least Seventy-Five (75%) Percent of the total votes in the Association; provided, however that any amendment which materially and adversely affects the ownership of a Unit or the security interest of any Mortgagee must be approved by such Owner or Mortgagee.”Ocean Reef CC&R, Article X, Section 10.1.2, p.25
“In the event a disagreement arises between Members related to the Land or the interpretation and application of this Declaration or the By-Laws of the Association the review and determination thereof by the Board of Directors shall be final and binding upon each and every Member of the Association.”Ocean Reef CC&R, Article VI, Section 6.6, p.16
“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.”Ocean Reef Master Deed, Exhibit E By-Laws, Article VI, Section 6, p.71
“The Board of Directors shall have the power to borrow money for the purpose of repair or restoration of the Common Areas or for the purpose of funding budgetary shortfalls, without the approval of the membership; provided, however, the Board shall obtain Voting Member approval by majority vote for special assessments in the event that the proposed borrowing is for the purpose of modifying, improving, or adding amenities, and the total amount of such borrowing exceeds or would exceed five (5%) percent of the budgeted gross expenses of the ASSOCIATION for that fiscal year.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 21, p.67
“It was noted that representatives from the rental management group would remain available for rental program-related questions.”Ocean Reef Meeting Minutes 2024, Item 10 Adjournment, p.4
“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.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 3, p.61
“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 five (5) or more UNITS in the entire Condominium.”Ocean Reef Master Deed, Exhibit E By-Laws, Article II, Section 2, p.58
“No management contract may have a term in excess of one (1) year and must permit termination by either party with cause or penalty on ninety (90) days' or less written notice.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 19(b), p.66
“Where possible, the same managing agent or manager shall be employed for the Master Association and each Subordinate Association. The GRANTOR, or an affiliate of the GRANTOR, may be employed as managing agent or manager.”Ocean Reef Master Deed, Exhibit E By-Laws, Article III, Section 19(a), p.66
“Representing Brittain Resorts & Hotels were [three individuals].”Ocean Reef Meeting Minutes 2024, Item 1 Opening Comments, p.1 (names omitted)
“Martinique Investors, LLC reserves 6 the absolute option and right to convert the bar, restaurant, kitchen, laundry, and certain other related areas on the ocean front side of the ground level Parcel 2 Building to residential units.”Ocean Reef CC&R, Article II, Notice of Planned Changes, pp.6-7 (page footer 6 falls mid-sentence; OCR as scanned)
“The option to submit the Additional Property or portions thereof to this Declaration may be exercised at any time and from time to time during a period of Twenty-Five (25) years from the date of recordation of this Declaration”Ocean Reef CC&R, Article II, p.8 (OCR as scanned)
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

  • Short-term rental by the owner personally or through any off-site manager is expressly permitted at deed level, with no minimum stay, no owner-use cap and no requirement to use the on-site program (Ocean Reef Master Deed, Art. XIV; Ocean Reef Rules & Regs, COMMERCIAL AREAS).
  • Pools, pool decks, lazy river, beach access, fitness room and passenger elevators remain available to off-program owners, guests and renters; the Association mails wristbands, ten common-area keys, fitness key cards and parking passes each year (Ocean Reef Rules & Regs, KEYS/WRISTBANDS/PARKING/FITNESS ROOM; Ocean Reef Master Deed, Art. VI; Ocean Reef CC&R 3.6).
  • Dues cover in-unit electricity, cable TV, high-speed internet, a master HO6 program with $14,000-$26,300 improvements & betterments and loss-of-use coverage that follows the unit, and water/sewer through the master; the Association may also perform monthly pest-control spraying inside units and the Board approved a preventive bed bug service in 2024 (Ocean Reef North Tower Budget 2026; Ocean Reef Meeting Minutes 2025, HO6 schedule p.51; Ocean Reef Master Deed, Art. XVIII; Ocean Reef CC&R 1.10; Ocean Reef Meeting Minutes 2024, Item 9.A).
  • Reserve contributions were raised from $177,580 (5.8% of the 2024 budget, 7.5% with the $50,000 contingency, while 81% of that budget went to the master) to $762,000 in 2025 and $879,000 plus $50,000 contingency in 2026 (26%); note that much of this services the Synovus reserve loan taken for the slider/common-area project and the reserve fund balance was negative ($3,561,509) at 9/30/2025, so it is largely debt repayment rather than accumulation (Ocean Reef North Tower Budget 2026; Ocean Reef North Tower Budget 2025; Ocean Reef Meeting Minutes 2024, Item 9.A; Ocean Reef Meeting Minutes 2025, Reserves Balance Sheet p.77).
  • No special assessment was levied for the slider project: it was debt-financed through the reserve fund (Synovus Reserve Loan $3,929,892 at 9/30/2025) and is being repaid through the higher general-reserve line in regular dues, and the bulk up-fit was opt-in only (Ocean Reef Meeting Minutes 2024, Item 9.A; Ocean Reef Meeting Minutes 2025, Note 14 and Reserves statements pp.77-78, Notes 13-15).
  • Owner-elected board: the Grantor's right to appoint directors terminated no later than February 28, 2012, and the 2024 election was run entirely with owner nominees (the Class II weighted vote and veto formally end only when the Grantor owns fewer than five units or files a termination, which the documents do not confirm); directors serve two-year terms and may be removed by a majority of members; board meetings are open to members (Ocean Reef Master Deed, Art. XXXII; Exhibit E By-Laws Art. II Sec. 2, Art. III Sec. 3; Ocean Reef Meeting Minutes 2024, Item 8).
  • Clean audit opinions for FY2023 and FY2024, collections strong with a bad-debt recovery in 2024 and liens at 90 days, and management contracts capped at one year and terminable on 90 days' notice, though the By-Laws text says 'with cause or penalty' (Ocean Reef Meeting Minutes 2025, Independent Auditor's Report and Notes 3, 10; Ocean Reef Master Deed, Exhibit E By-Laws Art. III Sec. 19(b)).
  • Standardized owner door locks (Wi-Fi option) adopted in 2025 replace unreliable door codes and give the HOA emergency access without the owner on site (Ocean Reef Meeting Minutes 2024, Item 9.B).
  • Property policy on the schedule in the packet is special-form replacement cost with wind, wind-driven rain, flood and earthquake, no wind-driven-rain sublimit, and a named-storm deductible of $500,780 on $52.8M of insured value; the schedule's named insured is 'Ocean Reef Resort HOA, Inc.', so which entity buys it is not stated (Ocean Reef Meeting Minutes 2025, Insurance Schedule p.50; Ocean Reef Meeting Minutes 2024, Item 5.B).
  • Owners may use the name 'Ocean Reef Resort' when referring to their unit: the Master Deed expressly entitles each residential owner to use the mark under S.C. Code 27-31-120, and only misleading references to inventory size or guest services, and references to the commercial services/amenities, are restricted (Ocean Reef Master Deed, Art. VII; Ocean Reef Rules & Regs, COMMERCIAL AREAS p.3).
  • The recorded By-Laws give owners due process on fines that the Rules do not mention: 10 days' written notice, a hearing before a Covenants Committee and an appeal to the Board, with fines assessed first against the occupant (Ocean Reef Master Deed, Exhibit E By-Laws Art. III Sec. 23).

Watch-outs

  • Every listing must carry the all-caps disclaimer that rental does not include front-desk service or access to certain commercial operations, and may not mention or photograph the restaurant, bars, gift shop, business center, guest laundry or housekeeping; the Grantor also reserved deed-level power to regulate use of the resort name and photos (Ocean Reef Rules & Regs, COMMERCIAL AREAS p.3; Ocean Reef Master Deed, Art. VII).
  • Off-program guests cannot use the trash chutes (reserved to the Parcel 2 commercial unit by CC&R 4.5; the Rules cite 'the Master Deed' but the recorded Master Deed never mentions trash chutes): all trash must be bagged and carried to the compactor behind the adjacent River City Café on 73rd Ave North, bags may not be left outside unit doors, and furniture/appliances/boxes go to an off-premises dump at owner's expense (Ocean Reef Rules & Regs, TRASH p.2; Ocean Reef CC&R 4.5).
  • The owner must register every occupant and provide a single point of contact who can respond on behalf of the unit within 30 minutes to any rule violation or emergency; guests must receive the rules before arrival (Ocean Reef Rules & Regs, UNIT OCCUPANCY pp.3-4).
  • Cleaners and contractors are barred from passenger elevators by the master CC&R and from the service elevator, maids' closets and linen chute by the Master Deed, which are reserved to the Commercial Unit; move-ins/outs only in business hours with building maintenance (Ocean Reef CC&R 4.5; Ocean Reef Master Deed, Art. XIV; Ocean Reef Rules & Regs, TRASH p.2).
  • Fines start at $200 per infraction plus $50 per day for wilful violations, smoking/vaping fines start at $250, throwing anything off a balcony evicts all guests, and the owner is liable for guest violations with the Board's hearing decision final (Ocean Reef Rules & Regs, VIOLATIONS p.4, SMOKING p.2, BALCONIES p.1).
  • Renters may not bring pets of any kind other than ADA service animals (Ocean Reef Rules & Regs, PETS p.2).
  • About 65% of the budget ($2,127,613 master dues transfer plus $196,800 unit electricity = $2,324,413 of $3,568,027) is a pass-through to the Master Association whose budget, reserves and insurance are not in this set; the North Tower holds only one of three master votes and board seats, each unit owner is liable for a pro rata share of what the tower owes the master, and the master holds a lien on every unit (Ocean Reef North Tower Budget 2026; Ocean Reef Meeting Minutes 2025, Note 9; Ocean Reef CC&R 6.1, 7.2 and Master By-Laws Art. III Sec. 3; Ocean Reef Master Deed, Art. VI).
  • The budget rose 9.60% for 2025 and 6.98% for 2026; studio dues went $802.12 to $878.78 (+9.6%) to $937.46 (+6.7%) per month, with larger units up as much as 7.7% and the commercial unit 8.9% for 2026. The lower 2026 headline reflects a $50,000 HO6 premium cut; the Regular Assessments line itself rose 10.6% for 2025 and 9.2% for 2026. The Master Association can levy additional insurance assessments on the regime as it did in 2023 ($57,672), can special-assess insurance deductibles (named storm $500,780) by majority of the master board, and master special assessments need only that board majority (Ocean Reef Meeting Minutes 2024, Item 9.A; Budget 2025/2026 dues tables; Ocean Reef Meeting Minutes 2025, Note 9 and Insurance Schedule p.50; Ocean Reef CC&R 7.7).
  • The reserve fund is leveraged: at 9/30/2025 reserve cash was $408,995 against a $3,929,892 Synovus Reserve Loan and a ($3,561,509) fund balance after $5.4M of 2025 reserve spending (sliders/common area $4.82M); reserve loan interest of $196,854 in nine months of 2025 is paid from the general reserve by all owners, while bulk up-fit loan interest ($151,534) runs through the opt-in fund; the association's construction facility allows up to $13,164,000 at about 7.31% with liens on opt-in owners and amortization to May 2032 (Ocean Reef Meeting Minutes 2025, Reserves Balance Sheet 9/30/2025 p.77, Reserves Income Statement p.78, Upfit Income Statement p.80, Note 14).
  • The only reserve study is from 2016 (the Master Deed itself recommended periodic independent engineering inspections and the Grantor seeded reserves with $700,000 in 2005), the board may spend reserves 'for any Association purpose', and the Master Deed discloses the building was built in 1974 and accepted 'AS IS' with a mold/mildew disclaimer; the resort-wide '2026 Ocean Reef CapEx Plan-HOA' lists a 1972 service elevator beyond useful life ($150,000), a North Tower elevator cab ($30,000) and fire pump work ($118,720) without stating which entity funds them (Ocean Reef Meeting Minutes 2025, Supplementary Information p.49, Note 8, CapEx Plan on the page following p.83; Ocean Reef Master Deed, Art. XXVII.D, XXXVII).
  • Buyers of units that opted into the 2024-2025 bulk up-fit may inherit an 84-month special-assessment lien, and in any voluntary sale the buyer is jointly and severally liable with the seller for unpaid assessments; the per-unit up-fit amount is not in these documents (Ocean Reef Meeting Minutes 2025, Notes 13-15; Ocean Reef Master Deed, Art. XXVII.L p.28).
  • Commercial Unit CU-1 holds a deed-level monopoly on rental management, front desk, concierge, guest laundry and in-building communications, an exclusive advertising easement, pool-deck vending rights, and can sue to enforce it with fee-shifting outside the arbitration clause; changing this needs Grantor consent plus a unanimous owner vote; the Grantor's Class II veto over Board actions formally survives until the Grantor owns fewer than five units, which the documents do not confirm (Ocean Reef Master Deed, Art. XIV, XXX.F, XXXIX.A.2(v), Exhibit B; Exhibit E By-Laws Art. II Sec. 2, Art. III Sec. 3).
  • Owners waive jury trial and must run disputes through negotiation, mediation and binding arbitration with short deadlines after which claims are deemed waived; master Board interpretations are final and binding (Ocean Reef Master Deed, Art. XXXVIII-XXXIX; Ocean Reef CC&R 6.6, 10.14).
  • The Association may cut off commonly-metered utilities to a unit 20 days late and charges 18% interest plus $25 late fees; master late charges are 5% per month (Ocean Reef Master Deed, Art. XXVII.G and J; Ocean Reef CC&R 7.1.3).
  • The Rules & Regulations can be rewritten by the Board alone at any time, and the standardized lock mandate shows the Board will impose billed hardware changes on non-program units (Ocean Reef Rules & Regs p.4; Ocean Reef Meeting Minutes 2024, Item 9.B).
  • Owners must still buy their own HO-6 liability and contents policy, and HO6 master deductibles are $5,000 wind/hail and $5,000 flood (Ocean Reef Rules & Regs, INSURANCE p.3; Ocean Reef Meeting Minutes 2025, HO6 schedule p.51).
  • The Master Association has deed-disclosed power to eliminate amenities (pools, lazy river, parking, etc.) on any parcel without obligation to replace them, to share new amenities with nearby hotels or condominiums, and the Master Declarant reserved the option to convert the restaurant/bar/kitchen/laundry areas and the Governor's Port meeting room to residential units, with converted areas ceasing to be Common Areas (Ocean Reef Master Deed, Art. VI, XX; Ocean Reef CC&R, Art. II Notice of Planned Changes and First Amendment para. 3).
  • The first replacement of the North Tower elevators, including the 1972 service elevator the 2026 CapEx plan prices at $150,000, is excluded from master Common Expenses and falls on the North Tower association, whose reserves are already negative and whose study dates to 2016 (Ocean Reef CC&R 1.10, 5.2, 7.6; Ocean Reef Master Deed, Art. XXII; Ocean Reef Meeting Minutes 2025, CapEx Plan following p.83).
  • Operating liquidity is thin: operating fund balance $174,082 at 12/31/2024 on $2.8M of operating expenses, and operating cash of $45,737 plus $52,872 insurance escrow at 9/30/2025; cash at one bank exceeded the FDIC limit by $1,488,950 at 12/31/2024 (Ocean Reef Meeting Minutes 2025, Audit Balance Sheet p.37, Note 7 p.43, Operating Balance Sheet 9/30/2025 p.75).
  • Only the hallways on floors 1, 2 and 17 are air conditioned; corridors on other floors are not, which matters for guest comfort and listing photos at an oceanfront property (Ocean Reef CC&R 4.5; Ocean Reef Master Deed, Art. XXII).
  • The By-Laws say that where possible the same managing agent serves the master and each tower and that the Grantor or an affiliate may be employed as manager, so the manager's independence from the commercial side is not guaranteed by the documents (Ocean Reef Master Deed, Exhibit E By-Laws Art. III Sec. 19(a)).
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
Phase I Studio (180 units, 0.3136%)$937$11,250
Phase I Parlor (13 units, 0.4073%)$1,207$14,486
Phase I Suite (7 units, 0.4710%)$1,404$16,853
Phase I 2 Bedroom (2 units, 0.6272%)$1,854$22,246
Phase II 1A Bedroom (13 units, 0.3356%)$1,001$12,009
Phase II 1B Bedroom (13 units, 0.3675%)$1,093$13,111
Phase II 2 Bedroom (13 units, 0.6428%)$1,899$22,786
Phase II 4 Bedroom (12 units, 1.0410%)$3,059$36,704
Phase II PH 3 Bedroom (1 unit, 0.9549%)$2,811$33,730
Commercial Unit CU-1 (2.7622%)$7,948$95,381

What the dues cover

In-unit electricity (a flat master charge, not usage-based: electricity and water are commonly metered across Parcels 1 and 2 under CC&R 5.2; $196,800-$206,025 line)Cable TV to units ($46,206)High-speed internet ($77,415)Master HO6 unit insurance program ($115,000; improvements & betterments and loss of use per unit)Pest control: the Association MAY perform monthly in-unit spraying (Master Deed Art. XVIII, permissive); no budget line; 2024 minutes note a Board-approved preventive bed bug serviceWater and sewer, common-area electricity, trash systems, pools/lazy river, elevators, landscaping and master property/liability/flood insurance via the Master Association pass-through ($2,127,613)Management services (Ally Management, Inc., $48,204)General reserves ($879,000) and contingency reserve ($50,000), a large part of which services the Synovus reserve loan taken for the slider/common-area project

Where the budget goes

Master Association Dues Transfer (plus $196,800 unit electricity to master = $2,324,413, 65.1%)$2,127,613 · 60%
General Reserves$879,000 · 25%
Electricity (Units) to Master$196,800 · 6%
Master HO6$115,000 · 3%
High Speed Internet Access$77,415 · 2%
Contingency Reserve$50,000 · 1%
Management Services$48,204 · 1%
Cable TV (Units)$46,206 · 1%
The figures, in the documents' words (43)
“TOTAL INCOME 3,335,129 3,568,027 232,898 6.98%”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, REVENUES
“50500 Master Association Dues Transfer 1,973,646 2,127,613 153,967”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Master Association Expense
“99910 General Reserves 762,000 879,000 117,000”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Other Expenses
“83310 Master HO6 165,000 115,000 -50,000”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Other Expenses
“She noted that the 2025 budget reflected a 9.60% increase.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“There was a $308K reduction in the contribution to the Master Association.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“The general reserve line was increased by $584K to accommodate the slider project, as well as a future slider project for the North Tower.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“Sliders were not being special assessed this year.”Ocean Reef Meeting Minutes 2024, Item 9.A 2025 Operating Budget, p.4
“He further mentioned that most reserve expenses run through the Master Association.”Ocean Reef Meeting Minutes 2024, Item 7.B Reserves Review, p.3
“The Association could expect a 10% increase in premium in 2025.”Ocean Reef Meeting Minutes 2024, Item 5.B Insurance Review, p.2
“The Association is a subordinate regime of the Ocean Reef Master Homeowners Association.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9 Master Association Assessments, p.44
“The total regular assessments incurred and paid to the Master Association were $2,282,496 and $1,738,301 for the years ended December 31, 2024 and 2023, respectively, and are shown as an expense within the Association's statements of revenues and expenses and changes in fund balances.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9, p.44
“During 2023, the Master Association levied an additional insurance assessment to the Association totaling $57,672, which is shown as an expense within the Association's statements of revenues and expenses and changes in fund balances.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9, p.44
“During 2024, the Association obtained a construction loan payable, with a maximum borrowing of $13,164,000, to assist in the bulk up-fit project described in Note 13 along with a sliding glass door reserve fund project.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 14 Loan Payable, p.46
“The loan payable is secured by liens filed on those unit owners who opted in to the project and who chose to make monthly payments along with assignments of all assessments.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 14, p.46
“Beginning the first month following the final construction period advance, the Association shall make monthly principal and interest payments amortized over a seven (7) year period, maturing in May 2032.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 14, p.46
“In May 2025, the Association levied a special assessment to those unit owners who opted into the bulk up-fit fund project.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 15 Subsequent Events, p.47
“Unit owners who opted into the project will be subject to a bulk up-fit assessment and had the option of paying in full (without any additional interest) or making eighty-four (84) equal monthly payments beginning in 2025, with interest added.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 13 Bulk Up-fit Fund, p.46
“The following is based on a reserve study performed by an outside engineering company in 2016 and presents significant information about the components of common property.”Ocean Reef Meeting Minutes 2025, Supplementary Information on Future Major Repairs and Replacements (Un-audited), p.49
“However, these funds may be used, as needed, for any Association purpose at the discretion of the Board of Directors.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 8 Major Repairs and Replacements, p.44
“Regular monthly assessments to unit owners ranged from $802 to $2,590 in 2024 and $656 to $2,110 in 2023.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 10, p.45
“$25,000 All Perils except: $500,780 Named Storms”Ocean Reef Meeting Minutes 2025, Insurance Schedule dated November 3, 2025, Property, Deductibles, p.50
“When in default, the delinquent assessment or delinquent installment thereof due to the ASSOCIATION shall bear interest at the rate of eighteen (18%) percent per annum until such delinquent assessment or installment thereof, and all interest due thereon, have been paid to the ASSOCIATION.”Ocean Reef Master Deed, Article XXVII.G, p.26
“If Phase II of the Parcel 2 Subordinate Association is added, the pro-rata share of expenses allocable to Parcell will be decreased from 47% to 38% and the allocable share of expenses allocable to Pal'cel 2 will be increased from 53% to 62%.”Ocean Reef CC&R, First Amendment (February 21, 2005), Paragraph 5 Reallocation of Common Expenses, p.5 (OCR as scanned)
“The Association may look solely to the Subordinate Associations and Owners for payment of Assessments and not to the individual members of said Subordinate Associations.”Ocean Reef CC&R, Article VII, Section 7.2, p.20
“60010 Electricity (Units) 196,800 196,800 0 Total Master Expense 2,170,446 2,324,413 153,967”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, Master Association Expense
“30100 Regular Assessments 2,973,329 3,247,002 273,673”Ocean Reef North Tower Budget 2026, 2026 Approved Operating Budget, REVENUES
“99910 General Reserves 177,580 762,000”Ocean Reef North Tower Budget 2025, 2025 Approved Operating Budget, Other Expenses
“The total electricity assessments incurred and paid to the Master Association were $196,800 for each of the years ended December 31, 2024 and 2023, respectively.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 9, p.44
“Due to Upfit Synovus Reserve Loan TOTAL CURRENT LIABILITIES ... $ 62,208 $ 3,929,892 $ 3,992,101 ... TOTAL HOMEOWNERS' EQUITY $ (3,561,509)”Ocean Reef Meeting Minutes 2025, Reserves Balance Sheet as of 9/30/2025, p.77 (table cells extracted out of column order; loan balance is $3,929,892)
“Common Area/Sliders ... Reserve Loan Interest 4,821,486.63 ... 196,853.68”Ocean Reef Meeting Minutes 2025, Reserves Income Statement, Nine Months Ended 9/30/2025, p.78 (cells joined)
“Bulk Upfit Loan Interest 151,534”Ocean Reef Meeting Minutes 2025, Reserves Upfit Fund Income Statement, Nine Months Ended 9/30/2025, p.80
“The monthly assessment to the commercial unit owner was $5,388 in 2023 and $5,034 in 2022.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 10, p.45
“At December 31, 2024, balances of cash in one (1) of the Association's financial institutions exceeded the federally insured limit by $1,488,950 and at December 31, 2023 all balances were FDIC insured.”Ocean Reef Meeting Minutes 2025, Audited Financial Statements FY2024, Note 7, p.44
“Cash - Operating Cash-Insurance Escrow $ 45,737 52,872”Ocean Reef Meeting Minutes 2025, Operating Balance Sheet as of 9/30/2025, p.75 (cells joined)
“Provided, however, that the Unit Owners shall also be responsible for paying their pro rata share, based upon total Units within their Subordinate Association, of any Assessments for which their Subordinate Association is responsible.”Ocean Reef CC&R, Article VII, Section 7.2, p.20
“Furthermore, pursuant to the Master Declaration, the Master Association is hereby granted a lien upon each UNIT and its appurtenant undivided interest in the COMMON ELEMENTS, which lien shall secure and does secure the monies due for all assessments now or hereafter levied against the ASSOCIATION by the Master Association”Ocean Reef Master Deed, Article VI, p.9
“Common Expenses shall not include the first replacement of the elevators located upon Parcel 2, which shall be at the expense of the Owner or Subordinate Association of Parcel 2.”Ocean Reef CC&R, Article I, Section 1.10, p.3 (repeated in 5.2 and 7.6)
“The ASSOCIATION shall pay for the first replacement of all elevators, including the service elevator.”Ocean Reef Master Deed, Article XXII, p.19
“which shall be the amount of the deductible under any insurance policy in the event of an insured loss, of any taxes or construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Common Areas and Common Easements”Ocean Reef CC&R, Article VII, Section 7.7, pp.21-22 (page footer 21 falls mid-sentence)
“Grantor has made an initial contribution in the amount of $700,000.00 to the ASSOCIATION as reserves for replacements and repairs of components of the Phase I Building”Ocean Reef Master Deed, Article XXXVII, p.36
“It is recommended that the Board of Directors periodically commission an independent engineer to inspect and determine the anticipated useful life of each portion COMMON ELEMENTS in order the inure that sufficient reserves are maintained.”Ocean Reef Master Deed, Article XXVII.D, p.25 (OCR as scanned)
“In any voluntary conveyance of a UNIT, the grantee shall be jointly and severally liable with the grantor for all unpaid assessments against grantor made prior to the time of such voluntary conveyance”Ocean Reef Master Deed, Article XXVII.L, p.28
05 Rules your guests will feel

What to put in the house manual.

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

PetsOnly owners may have pets (renters may not, except ADA service animals); Master Deed Art. XV requires express written Board consent for household pets and allows removal on 3 days' notice for nuisance; always leashed, never on pool decks; service animals may not be left alone in the unit.
OccupancyNot to exceed the number specified by law (Rules & Regs GENERAL); occupancy registry of all persons required.
SmokingNon-smoking property: smoking or vaping prohibited everywhere including inside units and on balconies; fines start at $250 per occurrence.
ParkingMarked spaces only, one space per vehicle, no double parking, curbs, grass or loading dock; no vehicle washing, repairs or oil changes; vehicles may not stay longer than guests occupy the unit; non-program units distribute Association-issued parking passes; unauthorized vehicles towed at owner's expense. Parking partly on easement land (217 spaces) that the master/Declarant may relocate.
Golf carts, motorcycles, trailersNo golf carts, trailers, campers, mobile homes, motor homes, jet skis, boats, recreational equipment or trailer-mounted catering equipment; Master Deed Art. XV also bars motorcycles, watercraft and unregistered/inoperable vehicles without Board approval.
GrillsGrilling strictly prohibited anywhere on the property (units, hallways, balconies, common areas) unless the Association provides a designated area; fireworks prohibited.
AgeChildren under 14 not allowed in pool areas without an adult; fitness room users must be 16+; children in diapers need swim diapers and are barred from the Jacuzzi. No minimum renter age stated.
AlsoQuiet hours 11:00 PM-7:00 AM per local noise ordinance; no items hung from balconies, balconies not for storage, all balcony furniture brown, no exterior decorations or holiday decorations; zero-tolerance eviction for throwing items off balconies; no personal items, bicycles or lockboxes in hallways; no signs including 'For Sale'/'For Rent' without approval; uniform white window-treatment backing; no antennas/satellite dishes; pool hours 9:00 AM-11:00 PM, no speakers, coolers, glass or outside alcohol on pool decks, no chair reserving (items removed after 20 minutes); no skateboards/skates; no feeding wildlife; structural or exterior alterations require written approval in compliance with the Master Deed. Hallways are air conditioned only on floors 1, 2 and 17; other corridors are not (CC&R 4.5; Master Deed Art. XXII).
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.