09/22/2026
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A client was buying a condo on Harbor Island this summer. The day before closing, the attorney's closing statement showed up with a $400 a month regime insurance charge nobody had disclosed. He did the math and walked away. π
That charge wasn't unusual for the building. It's a normal cost there. Nobody had put the full number in front of him until the day before he was supposed to sign.
South Carolina doesn't currently require condo or HOA associations to save toward future repairs, no reserve study, no funding minimum. There's a bill in the SC House that could change that over the next decade, but rising insurance costs are already reshaping what associations can afford right now, regardless of whether it passes.
New article covers what the law actually says, what's being proposed, and exactly what to check before you sign anything.
Check it, double check it, triple check it.
https://juliannedclark.substack.com/p/rising-hoa-and-regime-fees-are-coming?r=191r03&utm_campaign=post-expanded-share&utm_medium=web
Julianne Clark, Agent with Charter One Realty