Short Term Rental Trends

South Carolina Airbnbs & STRs

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RedAwning offers vacation rental property management for busy vacation rental owners and Airbnb hosts. Starts at 10% of revenue.
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Current Vacation Rental Performance in South Carolina

Market Overview

South Carolina's vacation rental market is exhibiting strong performance and significant investment potential. Cities like Columbia and Greenville have emerged as hotspots due to their economic growth, tourist appeal, and reasonable cost of living.

Key Performance Indicators

  • Occupancy Rates: Cities such as Columbia and Spartanburg show robust occupancy rates, with Columbia averaging 66% and Spartanburg at 76%.
  • Revenue: Properties in these areas generate substantial revenue, with Columbia averaging $27,975 in gross revenue and Spartanburg at $24,197 per year.
  • Daily Rates: Daily rates are also favorable, with Columbia averaging $146 and Spartanburg at $114.

Demand and Supply

  • The market benefits from a diverse range of properties, including beachfront homes, family-friendly cottages, and unique options like treehouse rentals. This diversity helps in attracting a wide range of travelers.
  • Despite a slight increase in supply, which has led to a minor dip in overall occupancy rates, the demand remains strong. This is partly due to the state's appealing destinations and extended peak tourist season thanks to its warmer climate.

Regulatory Environment

  • South Carolina's short-term rental laws are generally conducive to investment, with local authorities governing the regulations. Cities like Columbia have no zoning restrictions, making it easier for investors to operate.

Comparative Advantages

  • South Carolina offers advantages over more saturated markets like Florida, with lower average sale prices and steady rental demand. The state's mix of coastal and historic charm also attracts a diverse set of vacationers.

Future Outlook

  • The 2024 outlook suggests continued growth in revenue per available room (RevPAR) and stabilization of occupancy rates around 54.7%, similar to 2023 levels. Average Daily Rates (ADRs) are expected to see a modest increase.

Overall, South Carolina's vacation rental market presents a promising opportunity for investors, with strong demand, favorable regulations, and the potential for significant returns on investment.

Current Airbnb & VRBO Trends by City

No state available.

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FAQ

What does your pricing structure look like?
Our prices start at 10% of revenue. You can check out our pricing page for more information.
What types of vacation rental properties do you manage?
We manage a wide range of vacation rental properties, including single-family homes, condos, apartments, and luxury villas. Our services are tailored to meet the unique needs of each property type.
How do you handle guest support?
Our team provides 24/7 guest support, handling all inquiries, booking assistance, and any issues that may arise during a guest's stay. This ensures a seamless experience for your guests.
What is included in your damage waiver?
Our damage waiver provides $3,000 in coverage per booking, protecting you from accidental damages without the need for security deposits. This coverage is automatically included with every booking.
How does the payment process work?
We handle all aspects of the payment process, including processing payments, managing declined cards, and providing chargeback protection. Funds are deposited directly into your account, ensuring a smooth and secure transaction.
Can I still use my own booking website?
Absolutely! We offer a direct booking website service that allows you to showcase your property and accept bookings directly, bypassing the fees charged by major booking sites.
How do I get started with RedAwning?
Getting started is easy! Simply contact us for a free consultation, and our team will guide you through the onboarding process to ensure a smooth transition to our platform.
Why is RedAwning better than other property management companies?
RedAwning sets itself apart from other property management companies with a technology-driven, cost-effective approach that offers both full-service and partial management options, catering to vacation rental owners who value flexibility and control. Unlike competitors like Vacasa or AvantStay, which focus solely on full-service management with fees ranging from 25-50% of income, RedAwning provides a choice: comprehensive oversight including marketing, reservations, guest support, and maintenance, or a partial-service model emphasizing marketing and bookings across 50+ platforms like Airbnb, Vrbo, and Booking.com, potentially increasing bookings compared to narrower-channel options like Evolve. RedAwning's fees start at 10%. Having served the industry for 15 years, RedAwning combines experience with lower fees and rapid onboarding—listing properties in an afternoon—appealing to hosts who want efficiency without losing decision-making power, though it may not suit those needing extensive local support like Vacasa provides. Its scale (20,000+ properties across 10,000 destinations) and data-driven pricing give it an edge over Evolve’s simpler approach, making it a versatile choice for tech-savvy hosts seeking tailored management solutions.