Myrtle
Beach Resort Condo Owners' FAQs:
What and Where is The Myrtle Beach Resort?
The Myrtle Beach Resort is a gated 33-acre Ocean Front Condominium
Resort, comprising four buildings and nearly 1000 Condos.
It’s located at 5905 South Kings Highway, about two
miles South of the Myrtle Beach City Limits.
What amenities are located on the property?
The Myrtle Beach Resort boasts 24 hour security, two lighted tennis courts, six swimming pools (two indoors), a 375-ft lazy river, Jacuzzis, steam baths, coin-operated guest laundry facilities, on-site food and beverage service, and over 700-ft of sandy beach!
How are the Condominiums furnished?
Each Condo is fully furnished, including all major appliances
- stove-full sized refrigerator with ice maker, microwave
- television – vacuum cleaner - and all necessary dinnerware
and cookware, including small appliances - blenders, toasters,
and coffee makers. Most have disposals and dishwashers.
How much are the property taxes on a
typical Condo?
Property taxes are based on the value of the Condo, which
is determined by its size and location. Taxes on a typical
condos range from $800 to $1100 annually.
How is the Property Protected ?
The Myrtle Beach Resort is outside the City Limits of Myrtle
Beach in Horry County. However, Police and Fire Protection
are provided by both the Myrtle Beach and Surfside Police
and Fire Departments as well as the Horry County Departments.
How much are the Homeowners Association
Fees ?
Each Building at The Myrtle Beach Resort is governed by a
separate H.O.A. and there is a Master Board, with representatives
from each Association, which governs the combined property.
The H.O.A. Fees are set by the various Board of Directors.
The Monthly Fees vary, depending on the size and location
of the Condo. The Fees for the Year 2004 are as follows:
Phase I
Building A (*)
One Bedroom
254.00
Two Bedroom
372.00
Phase II
Building B(***)
One Bedroom
251.00
Two bedroom
368.00
Phase III
Renaissance Tower(**)
Small Sun Suite
211.00
Large Sun Suite
308.00
One Bedroom
308.00
Two Bedroom
404.00
Grand and Ocean Front
Two Bedroom
501.00
Phase IV
Five Seasons Center
One Bedroom
331.00
Two bedroom
488.00
A program for repairs and renovations to Building
A is funded by a special assessment paid in monthly installments
as follows:
1 Bedroom - $211.00/month
2 Bedroom - $316.00/month
**A program is also in progress for repairs and renovations
to the Renaissance Tower. The special assessment will be paid
in monthly installments as follows:
Small Sun Suite - $179.00/month
Large Sun Suite - $268.00/month
1 Bedroom - $268.00/month
2 Bedroom - $358.00/month
2 Bedroom Grand - $447.00/month
***Insurance on Building B is not included in monthly Association
Fees.
What do the Homeowners Association Fees
cover ?
The Homeowner Association Fees cover Water, Sewer, Insurance
on the Building, Maintenance of the Buildings and Grounds,
Electricity for the Common Areas, Trash Collection, Pest Control,
Management Fees, and support of the Master Association, which
provides Telephones and Local Telephone Service, Televisions
and TV Cable Service, and 24 Hour Security.
Does Each Homeowner have to carry Insurance
?
Each Homeowner should carry Liability Insurance and Hazard
Insurance on the interior of the Condo and its furnishings.
These special H.O. Policies are readily available at a cost
of $194 to $223 per year.
What about Heating and Air Conditioning
?
Each condo has its own central Heating and Air Conditioning system, which is the responsibility of the Homeowner.
What about electricity?
Each Homeowner is responsible for his own Electric Bill. The
amount of an Electric Bill depends on many factors including
the size of the Condo and the weather. An average would be
from $600 to $800 per year.
How much gross rental income can I expect
from the Condo?
Rental income fluctuates based on a number of factors. It is important to know that past experience does not always predict future performance and rental guarantees cannot be made. The following chart shows the Gross Rental Income Figures for the average condominium managed by Myrtle Beach Resort Vacations:
| |
2003 |
2004 |
2005 |
3 Bedroom Oceanfront
Renaissance Tower |
26,470 |
24,901 |
23,983 |
2 Bedroom Oceanfront
Renaissance Tower |
18,626* |
20,184 |
22,550 |
2 Bedroom Tower Ocean View
Renaissance Tower |
12,970* |
13,400 |
15,337 |
2 Bedroom Ocean View
A Building |
10,097* |
11,976 |
12,671 |
2 Bedroom Ocean View
B Building |
14,433 |
14.648 |
15,547 |
2 Bedroom Limited Ocean View
A Building |
8,667 |
10,687 |
10,934 |
2 Bedroom Limited Ocean View
B Building |
13,101 |
11,864 |
12,645 |
2 Bedroom Courtyard View
Five Seasons |
9,962 |
11,865 |
11,525 |
1 Bedroom Deluxe Ocean View
Renaissance Tower |
7,798* |
11,306 |
12,057 |
1 Bedroom Limited Ocean View
B Building |
7,727 |
9,133 |
8,703 |
1 Bedroom Oceanfront
A Building |
10,411 |
11,726 |
12,952 |
1 Bedroom Oceanfront
B Building |
12,282 |
12,747 |
13,250 |
1 Bedroom Courtyard
Five Seasons |
8,366 |
9,376 |
8,373 |
Ocean View Studio
Renaissance Tower |
7,208* |
8,481 |
9,440 |
Oceanfront Studio
Renaissance Tower |
9,331* |
10,045 |
11,299 |
Ocean View
Efficiency |
n/a |
7,931 |
8,468 |
*2003 Rental Income Affected by Construction
What Fee is charged by RVS for Renting
the Condo?
Rental Services are available through Resort Vacation Services
for which we charge 30% of Gross Rental Income. There are
no other charges to the Homeowner for the Rental Service.
We pay any Credit Card Discounts or Travel Agents Commissions.
Cleaning, Linen Service, and Sales Taxes are the responsibility
of the Guest. Rentals are disbursed to Homeowners weekly,
usually within a week of the time the Guest checks out.
What other costs are involved in ownership?
The only remaining cost is, of course, maintenance of
the Condo. This includes repair or replacements of items,
including furniture, furnishings, fixtures, equipment, and
house wares, which become broken, worn out, or missing. Resort
Vacation Services will look after these problems and bill
the Homeowner, usually by deducting the costs from the Homeowner’s
Rental Check.
Myrtle Beach Resort Sales
5905 S. Kings Hwy.
Myrtle Beach, SC 29578
Call us Toll Free: 1-888-627-3767
or Email us at Myrtle Beach Resort Sales
