Condo Regime Fees Explained in North Myrtle Beach

Sticker shock when you see a condo’s monthly fee? You are not alone. In a coastal market like North Myrtle Beach, those payments fund critical shared costs that protect the building and your investment. In this guide, you will learn what condo regime fees cover, how they differ from HOAs, and how to compare buildings with confidence. Let’s dive in.

Condo fee basics

Condo regime fees are periodic payments every owner makes to the condominium association. They are set by the community’s declaration, bylaws, and annual budget. The money funds daily operations, long-term repairs, insurance, management, and amenities that serve all owners.

These fees are not optional. Associations typically have lien rights if owners do not pay. During a sale, the association provides key disclosures such as the budget, bylaws, minutes, and insurance details so you can review them before you buy.

What condo fees usually cover

Every building is different, but most budgets include several core categories. Read the budget notes and the declaration to confirm what applies to your condo.

Maintenance and operations

Condo fees often cover exterior maintenance, roofing, painting, siding, elevator service, pool care, landscaping, parking areas, and pest control for common areas. Building systems like common HVAC, fire safety service, and elevator inspections are also typical.

Utilities and amenities

Associations commonly pay for lighting and electricity in common areas, irrigation, pool heaters, and sometimes water and sewer for buildings with shared systems. Amenity costs like pools, fitness rooms, clubhouses, security, trash removal, and marina facilities are funded through fees.

Insurance and deductibles

Most associations carry a master property and liability policy for common elements. Coverage may be “bare walls-in” or “all-in,” which changes what the association versus the owner insures. Coastal master policies can have sizable wind or hurricane deductibles, so ask how deductibles are handled and whether reserves or assessments would pay for them.

Reserves and capital projects

A healthy reserve fund is your first line of defense against special assessments. Associations set aside money for big-ticket items such as roofs, structural repairs, paving, and elevator replacements. Review the reserve study, current balance, and funding plan to see if the building is tracking to needs.

What owners still pay

Even with solid condo coverage, owners typically handle interior maintenance and repairs inside the unit, interior HVAC servicing, improvements, personal property insurance, and utilities that serve the unit such as electricity and internet. You also pay your mortgage, unit property taxes, and any owner portion of deductibles or loss assessments if the documents assign them.

Condo fees vs HOA assessments

In a condominium, you own your unit plus a shared interest in the land and common elements. The condo association maintains the building structure and systems and collects fees for those shared costs.

In a typical single-family HOA, owners maintain their own structures while the HOA oversees neighborhood amenities and rules. In resort areas, you may see multiple layers, such as a building-level condo association plus a master association for community-wide amenities. Confirm whether you pay one or more assessments and what each one covers.

Rental rules also vary by association. Buildings with heavy short-term rental use can see more wear, different staffing needs, and rules about stays and registrations. Those factors can influence both fee levels and financing options.

How to evaluate fees before you buy

You want to know both what you will pay and why. Use this checklist during your offer and due diligence period.

Documents to request

• Current annual budget and year-to-date financials
• Reserve study and current reserve fund balance
• Board meeting minutes for the past 12 to 24 months
• Declaration, bylaws, rules and regulations
• Certificate of insurance with coverage limits and deductibles
• History of special assessments and any planned capital projects
• Unit account statement for arrears or pending fines
• Property management contract and staffing details
• Rental and occupancy rules, including short-term policies
• Litigation disclosures and status
• Schedule of user fees for parking, storage, or boat slips, plus utility billing details

What to compare across buildings

• Fee amount and frequency, normalized by square footage or bedrooms
• Inclusions and exclusions such as water, cable, internet, or unit utilities
• Reserve funding level versus the reserve study needs
• Capital projects planned and recent special assessments
• Owner-occupancy and rental mix, plus delinquency rates
• Insurance deductibles for wind and flood, and the plan to cover them
• Management type and recordkeeping quality
• Age, construction, and exposure to salt, wind, and water

Smart questions to ask

• How often are fees reviewed and how have increases been handled?
• What is the current reserve balance and are contributions on track?
• Any special assessments in the past 5 to 10 years or planned ahead?
• What percentage of owners rent and what are delinquency rates?
• What does the master policy cover and what are the wind and flood deductibles?
• Any pending legal actions or code issues?
• Does the association carry flood insurance for common elements?

Red flags to note

• No current reserve study or reserves well below recommendations
• A pattern of emergency or repeated special assessments
• High owner delinquency rates
• Pending or recent litigation with potential large liabilities
• Inadequate insurance or very large deductibles without a clear plan
• Poor or missing minutes and weak financial reporting

North Myrtle Beach coastal factors

North Myrtle Beach has many oceanfront and waterway condos, a strong second-home market, and active vacation rentals. Coastal exposure increases the need for robust reserves and clear insurance plans.

• Flood risk: Many buildings are in FEMA-mapped flood zones. Confirm whether the association carries flood insurance for common elements and what owners must insure individually.
• Wind and hurricanes: Master policies often include significant wind or hurricane deductibles. Ask how deductibles are funded and whether reserves or assessments would be used after a storm.
• Short-term rentals: Local rules may require registrations, licensing, and accommodation taxes, and associations often set minimum stays and occupancy rules. If you plan to rent, verify both municipal requirements and association policies.
• Financing and project review: Lenders evaluate condo financial health. High delinquency or looming assessments can affect loan options, especially for second homes and investors.

Build your true monthly budget

Do not look at the mortgage in isolation. Price out your complete monthly spend so you can compare homes apples to apples.

• Mortgage payment
• Condo fee or fees if there is a master association
• Unit property taxes
• HO-6 condo insurance for your interior and personal property
• Estimated utilities not covered by the fee
• User fees such as parking or storage
• A set-aside for interior maintenance and replacements
• For rentals: vacancy, management or booking fees, and local accommodation taxes

A full view helps you see why one building’s higher fee may still be the better value if it includes more utilities, stronger insurance, and healthy reserves.

Next steps

If you are weighing several North Myrtle Beach buildings, focus on what the fee covers, the strength of reserves, insurance deductibles, and rental rules. Ask for the documents on the checklist above and compare them side by side.

Want help breaking it down and matching the right building to your goals? Connect with Nick Paolozzi for local guidance, virtual tours, and a clear plan that fits your budget and timeline.

FAQs

What do condo regime fees cover in North Myrtle Beach?

• They usually fund building maintenance, common-area utilities, master insurance, management, reserves for capital projects, and amenities like pools or fitness rooms.

How are condo fees different from HOA dues for houses?

• Condo fees often include structural and building system costs, while single-family HOAs more commonly cover shared amenities and rules but not your home’s exterior.

Do condo fees include insurance for my unit interior?

• It depends on the master policy; some are bare walls-in while others are all-in, so confirm coverage and ask about wind and flood deductibles.

Can there be multiple fees in resort communities?

• Yes, many properties have a building-level condo fee plus a master association fee for community-wide amenities, so verify both amounts and inclusions.

How do hurricane deductibles affect me as an owner?

• Large wind or hurricane deductibles can be paid from reserves or through special assessments, so ask how the association plans to handle a major event.

What documents should I review before buying a condo?

• Request the budget, financials, reserve study, minutes, insurance certificate, assessment history, rules, rental policies, management contract, and any litigation disclosures.

Do rental rules in North Myrtle Beach impact fees?

• A heavy short-term rental mix can increase wear and staffing needs, and rules or registrations may add costs that are reflected in the association budget.