North Myrtle Beach, South Carolina, is experiencing robust short-term rental performance, with a median occupancy rate of 60%, an average daily rate of $231, and an average annual host income of $50,000, indicating a highly stable and profitable market.
Thriving Short-Term Rental Market in North Myrtle Beach, South Carolina
North Myrtle Beach, South Carolina, is experiencing a robust short-term rental market, marked by strong occupancy rates and lucrative average daily rates. As of the latest data, short-term rental listings in the area boast a median occupancy rate of 60%, indicating a high demand for these properties. Additionally, the average daily rate stands at $231, contributing to an average annual host income of $50,000. This performance highlights the profitability and stability of investing in short-term rentals in North Myrtle Beach, making it an attractive option for both hosts and investors. The lenient regulations in the area further support the growth and success of this market.
Short-Term Rental Regulations in North Myrtle Beach, South Carolina for 2024
Licensing and Permits
- Property owners must obtain a business license from the city to operate a short-term rental.
- A short-term rental permit is required, which involves a fire inspection plan review and a zoning and application review fee.
Tax Compliance
- Short-term rental operators must collect and remit a 7% state sales tax and a 6% local accommodations tax, totaling 13%.
Zoning Restrictions
- Short-term rentals are only allowed in specific zoning districts, such as the Resort Residential (RR) and Limited Industrial (LI) zones.
- Property owners must verify their property is in an approved zoning district before applying for a short-term rental license.
Operational Requirements
- Owners must comply with occupancy limits and noise regulations.
- A completed business license application, proof of ownership, a floor plan of the property, and a parking plan must be submitted as part of the application process.
Enforcement
- The city strictly enforces short-term rental regulations, including cracking down on unlicensed rentals and those violating occupancy limits. Violations can result in fines of up to $500 per day and potential revocation of the business license.
Additional Compliance
- Even if a platform like Airbnb or VRBO collects and remits taxes on behalf of the owner, the owner is still responsible for ensuring compliance with all local tax requirements.
Penalties for Non-Compliance
- Failure to obtain the proper licensing and comply with local regulations can result in fines and legal action, including penalties of up to $500 per violation, with each day of operation without a license considered a separate offense.
High-Revenue Neighborhoods for Airbnb in North Myrtle Beach, South Carolina
1. Coastal Areas Along North Kings Highway and North Ocean Boulevard
These areas are highly appealing due to their proximity to the beach, making them walkable to prime tourist attractions. The concentration of high-earning Airbnb properties in these regions is significant, as they offer easy access to the beach and various amenities.
2. Golf Course Communities
Neighborhoods surrounding golf courses, such as those near River Oaks Drive, are popular among guests. These areas combine the allure of golfing with the convenience of being close to other tourist attractions, making them attractive for both golf enthusiasts and families.
3. Central North Myrtle Beach
The central area of North Myrtle Beach is a hub for tourist activities, including shopping centers, amusement parks, and a variety of dining options. This central location makes it an ideal spot for guests looking for a vibrant and convenient stay.
4. Waterfront and Beachfront Properties
While not all high-earning properties need to be directly on the water, those that are beachfront or offer waterfront views are particularly appealing. These properties provide guests with stunning views and immediate access to the beach, enhancing their vacation experience.
5. Condo and Townhome Communities
Areas with condominiums and townhomes, especially those in golf course communities or near the beach, are lucrative for Airbnb investors. These properties offer a more manageable maintenance commitment compared to single-family homes and still generate significant revenue.
Why These Neighborhoods Are Appealing
- Proximity to Beach and Amenities: Guests are drawn to areas that offer easy access to the beach, golf courses, and other tourist attractions.
- Variety of Activities: The presence of golf courses, shopping centers, and amusement parks ensures that guests have a wide range of activities to enjoy.
- Scenic Views and Comfort: Waterfront and beachfront properties, as well as condos and townhomes, provide comfortable and scenic accommodations that enhance the vacation experience.
- Central Location: Being in the heart of North Myrtle Beach ensures guests are close to all the action, making their stay more convenient and enjoyable.
Tips for Furnishing and Designing an Inviting Airbnb in North Myrtle Beach, South Carolina
Planning and Preparation
- Advance Planning: Spend weeks or months planning and shopping for your design elements before arriving at the property. Use vision boards to visualize the space and make adjustments as needed.
- Measure and Assess: If possible, obtain accurate measurements of the space and assess the current condition. If measurements are not available, use existing furniture as a guide to estimate sizes.
Design Elements
- Local Theme: Incorporate nautical and coastal themes to reflect the city's beachside style. Use colors and decor that evoke the ocean, such as blues, whites, and natural textures.
- Bold Colors: Select bold, coastal-inspired colors for accent walls and furniture. For example, use a bold blue like Sherwin Williams' "St. Bart's" for a headboard wall.
- Neutral Base: Maintain a neutral base with items like a sleeper sofa in a neutral color to provide flexibility in design changes.
Furniture and Decor
- Reuse and Repurpose: Consider reusing existing furniture that is in good condition to save money and reduce waste. For example, keep a teal sofa as the centerpiece of the living room.
- Balanced Design: Ensure balance in the room by distributing colors and textures evenly. Avoid heavy or weighted areas by balancing elements like black chairs with other black accents in the room.
- Functional Decor: Choose decor that is functional as well as aesthetically pleasing. For instance, use shelves that allow guests to place their belongings while maintaining a stylish look.
Specific Room Design
- Living Room:
- Anchor the room with a statement piece like a gorgeous rug, a swivel chair, or handmade pillows.
- Use shelves and wall decor to add interest without overwhelming the space.
- Bedroom:
- Select bold bedside lamps and a striking headboard wall color.
- Add decorative elements like round basket art, but ensure they fit the space and color scheme.
Practical Considerations
- Humidity and Texture: Consider the local humidity when choosing materials. For example, avoid wallpaper due to humidity issues and opt for other wall decor instead.
- Guest Convenience: Ensure that the space is convenient for guests by including amenities like fully equipped kitchens, smart TVs, and high-speed Wi-Fi.
Compliance and Regulations
- Local Regulations: Familiarize yourself with North Myrtle Beach's short-term rental regulations, including obtaining necessary permits and licenses, and adhering to zoning and tax requirements.
By following these tips, you can create an inviting and stylish Airbnb in North Myrtle Beach that reflects the city's unique coastal charm.
Discover the Best of North Myrtle Beach: Local Attractions and Insider Tips
Outdoor Adventures
- Water Sports and Tours:
- Experience dolphin watching with Action Water Sportz or explore the ocean and marshes with Great Escapes Kayak Expeditions.
Enjoy jet skiing, wakeboarding, or kneeboarding at Shark Wake Park, which also features a giant floating obstacle course.
Boat Cruises:
Take a sightseeing or dinner cruise on the Barefoot Queen Riverboat along the Intracoastal Waterway.
Fishing Piers:
- Visit Cherry Grove Pier or Apache Pier for fishing and taking in the sea air.
Family Fun
- Mini-Golf:
Play themed mini-golf courses at Hawaiian Rumble Golf, Hawaiian Village Miniature Golf, or Lost Treasure Golf.
Museums and Arcades:
- Explore classic cars at Wheels of Yesteryear, marine life at Ripley’s Aquarium, and celebrity wax figures at the Hollywood Wax Museum.
Enjoy games, bowling, and dining at 810 Billiards & Bowling or LuLu's Beach Arcade, which also features an outdoor ropes course.
Nature Preserves:
- Hike and observe wildlife at Heritage Shores Nature Preserve, Bird Island Reserve, and Russell Burgess Coastal Preserve.
Entertainment
- Live Shows and Theaters:
- Catch national acts and local talent at the Alabama Theatre and the Carolina Opry. Don’t miss the holiday show at the Alabama Theatre.
Experience the variety show at Pirates Voyage, featuring aerial acrobatics and pirate battles.
Barefoot Landing:
- Spend a day at Barefoot Landing, which offers shopping, dining, an outdoor stage with live acts, and attractions like Alligator Adventure.
Local Favorites
- Main Street North Myrtle Beach:
Enjoy the tranquil setting of McLean Park, which includes picnic areas, a meditation garden, and a paved walking trail. Catch the free Music on Main concert series from May to October.
Shopping and Dining:
- Explore local and national brands on Main Street, and dine at popular spots like Flynn’s Irish Tavern, BurgerFi, and Fat Harold’s Beach Club.
Insider Tips
- Seasonal Events:
Check out the Music on Main concert series during the warmer months and the “South’s Grandest Christmas Show” at the Alabama Theatre in winter.
Access Points:
Utilize multiple beach access points, including Cherry Grove, 7th and 8th Avenues North, and Windy Hill for a variety of beach experiences.
Local Resources:
- Visit the Visitor Information Center at 1521 Hwy 17 for more information and local tips.
By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to North Myrtle Beach.
Practical Tips to Run a Successful Short Term Rental Business in North Myrtle Beach, South Carolina
To ensure a smooth and profitable short-term rental business in North Myrtle Beach, several practical tips can make a significant difference. First, it is crucial to inform guests about noise regulations and quiet hours to maintain a peaceful environment for both guests and neighbors. This can be included in a comprehensive digital and physical house manual that also provides essential instructions, Wi-Fi passwords, and other vital information.
A simplified check-in process can enhance the guest experience. Utilizing smart locks eliminates the need for physical key exchanges and allows for remote access management. Additionally, providing detailed parking instructions accompanied by photos can help guests navigate the property easily and avoid potential issues.
Compliance with local regulations, such as obtaining the necessary business license and short-term rental permit, and adhering to zoning restrictions, is also essential to avoid fines and legal action.
By implementing these strategies, you can ensure a well-managed, guest-friendly, and compliant short-term rental business in North Myrtle Beach.
Here is a brief list of house cleaning providers in North Myrtle Beach, South Carolina:
House Cleaning Services
A Personal Maid
- Local family-owned cleaning service providing standard and deep cleaning for homes, condos, offices, and vacation rentals.
- Customized service plans and high-quality, safe products.
Merry Maids
- Offers comprehensive, professional residential cleaning services with over 40 years of experience.
Quik-Turns
- Specializes in cleaning services for vacation rental properties, known for quick turnaround times and attention to detail.
Sparkle Cleaning LLC
- Provides cleaning services for various properties, including homes and vacation rentals. Contact information available upon request.
Additional Resources
For more options, you can also refer to lists on Angie's List and Care.com, which feature multiple house cleaning services in the North Myrtle Beach area.
North Myrtle Beach Short-Term Rental Management Fees: A Comprehensive Guide
In North Myrtle Beach, South Carolina, short-term rental management fees can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management companies, such as Vacation Rentals of North Myrtle Beach and Palmetto Vacation Rentals, offer a wide array of services including guest communication, marketing, and maintenance, which generally fall on the higher end of this percentage range.
Basic service packages, on the other hand, may incur lower fees but with fewer included services. Additional costs can also arise for specific services like cleaning, repairs, and interior design. For instance, MasterHost's Airbnb management services start at 8% for basic packages but can go up to 12% for full-service options, which include services like price optimization, guest screening, and concierge services.
Understanding these fee structures is crucial for property owners to make informed decisions and maximize their rental income while ensuring their properties are well-maintained and effectively marketed.