This can be a complicated question to answer. It will involve many factors such as your goals, desired ROI, how often you’ll use it, and how much cash you’ll have to invest into the property. We will do our best below to outline some of the advantages and disadvantages of purchasing a vacation rental in Myrtle Beach, SC.
Advantages:
Disadvantages:
You’ll have a great condo or home to vacation in. It’s your place so I’m sure it will be furnished and decorated just how you like it.
- You’ll be able to offset some of the costs of the property if you rent it out to guests or vacationers. We are a popular beach destination in the summer and you can make really good revenue.
Vacation Rental properties can be expensive and require a large down payment. If it’s a condo, it can also be difficult to finance depending on the building it’s in.
When you rent it out to guests, there will be wear and tear that will be required to fix each year to keep the property in good condition. Typically, we recommend budgeting 5% – 7% of your rental revenue for repairs.
When guests are renting it, you won’t be able to use it. As we mentioned, Myrtle Beach is a popular beach destination in the Summer so you likely won’t be able to use it too much then.
- The operating costs between insurance, mortgage, maintenance, home improvements, property management, cleaning, and marketing can be expensive. You’ll have to generate a strong amount of revenue to offset these costs.
The short answer is yes. Vacation rentals in the Myrtle Beach and North Myrtle Beach areas can generate strong returns on investment (ROI), but performance depends on several factors:
- Location & Proximity to the Beach – Oceanfront Condos and homes close to the beach demand the best daily rates. If you’re looking at homes stay within close walking distance. If you’re looking at Condos we always recommend the oceanfront.
- Seasonality – Myrtle Beach is a highly seasonal market. You can generate up to 70% of your revenue between Memorial Day and Labor Day, with slower demand in fall and winter. Good revenue management and off-season strategies (like monthly winter rentals) can help maintain steady cash flow.
- Interior Design & Amenities – Homes and condos with great design, pools, hot tubs, or pet-friendly policies usually outperform average rentals. The more amenities you have, the better. And I’ll say it again: don’t skimp on design!
- Management Quality – Professional marketing, strong revenue management, and great guest hospitality is the difference between an underperforming property and one that consistently delivers strong ROI. This is where we at MyBeach Vacation Rentals can help. Reviews are of the utmost importance in today’s world and if your reviews suffer. So will your revenue.
To conclude, well-managed vacation rentals in our area can earn significantly more than traditional long-term rentals. While also giving owners the flexibility to enjoy the property themselves. However, returns are never guaranteed and it is a very competitive landscape. We’ve found the top 5% – 20% of vacation rentals can perform really well. The other properties, not so much.
There isn’t a single “best” building for vacation rentals in North Myrtle Beach. We believe it’s more important to be the best looking Condo in your building. However, some buildings are highly popular with families looking for oceanfront condos and there are some necessities that I would look for.
A FEW THINGS TO CONSIDER WHEN EVALUATING A CONDO BUILDING:
- Location & Proximity to Attractions – Oceanfront or ocean-view buildings generally deliver higher rental income. The Cherry Grove area seems to have the most demand from what we’ve seen with our Condos.
- Amenities – Pools, lazy rivers, gyms, arcades, and a tiki bar all make a condo more attractive to vacationers. The more of these items you can mark off the checklist, the better. North Beach Resort has some of the best amenities along the Grand Strand area. We recommend checking them out.
- HOA Fees – Some buildings have higher HOA dues that affect ROI. It’s important to get very clear on what these are and what they include before putting in an offer anywhere.
While we don’t sell condos ourselves, we work closely with owners across North Myrtle Beach and have seen which buildings consistently perform well as vacation rentals. If you’re considering a purchase, we’re happy to share insights and revenue estimates using the data we’ve collected over the years. Have your realtor share the Condos you’re interested in or send it directly to us and we’d love to help. You can contact us here: MyBeachRentals.com
We’ve seen homes perform well in many different locations across North Myrtle Beach. In general, Cherry Grove is a top spot that guests love to rent homes and this is for a few reasons:
- Beautiful views and scenery — Cherry Grove is right on some beautiful water channels that connect to the Ocean. Many of the homes in this area have great views of the marsh and channels right in their backyard.
- Proximity to Restaurants and Attractions — Sea Mountain Highway is the main road that connects to the Cherry Grove area. Guests will find many great spots along this road for food, mini golf, groceries, and just about anything else they could need during their vacation.
- Family-Friendly Communities — This area is considered very safe and walkable. You’ll see kids and adults alike going back and forth between the shops, restaurants, and beach throughout the day.
There are other great areas in North Myrtle Beach such as Crescent Beach, Ocean Drive, and Windy Hill. They all have different benefits for proximity to attractions like Barefoot Landing or Main St. It’s important that you highlight this when it comes to marketing your rental home.
There isn’t a single “best” neighborhood for everyone, but homes that balance strong guest appeal, good marketing, and location to popular landmarks will win. At MyBeach Vacation Rentals, we manage properties across a variety of neighborhoods and can share performance insights to help you make an informed decision when purchasing.
Most vacation rental companies in Myrtle Beach charge a management fee based on a percentage of the rental income. On average, you can expect fees in the range of 15% to 25% of rental revenue, depending on the level of service, property type, on-site vs offsite management, and company size.
SOME COMPANIES MAY ALSO CHARGE FOR THE FOLLOWING:
- Linens and Other Guest Supplies
- Maintenance Coordination or Maintenance Markup
- Marketing or Booking Fees
At MyBeach Vacation Rentals, we keep our pricing simple and transparent. Our Management Fee varies from 15% – 20% depending on the property.
A good management fee is going to depend on your goals and property, but this is an appropriate range to expect. I think a management fee in this range incentivizes the rental manager to perform well and delivers excellent value for the homeowner client.
Vacation rental companies are typically paid through a management fee, which is a percentage of the rental income generated by your property. Instead of paying out-of-pocket, the company collects its fee directly from the rental revenue which incentivizes companies to get bookings.
For example, if your home earns $2,000 in bookings in a given month and your management fee is 20%, the rental company would keep $400, and you would receive $1,600 (minus any direct expenses such as cleaning or maintenance).
You want to be very clear on what the management fee is when interviewing companies to hire, so here are some great questions to ask:
- What does the management fee include?
- What is the management fee charged on exactly?
- Is there a fee charged on the cleaning income for example?
Yes — at MyBeach Vacation Rentals, our focus is on delivering a personal property management service to our homeowner clients in Myrtle Beach and North Myrtle Beach. If you’re looking for a property manager who combines local expertise with modern management tools, MyBeach Vacation Rentals is a trusted choice in the Myrtle Beach and North Myrtle Beach area.
We manage a great mix of homes and condos in Myrtle Beach and North Myrtle Beach, and our homeowners choose us because we provide:
Personalized Service
Proven Results
Trusted Reputation
Local Expertise
We treat every property as if it were our own and give each owner direct communication and support.
We’ve successfully managed and generated great revenue on over 100 homes and condos in the area.
Most homeowners come from referrals, with great reviews from owners and guests. Units stay clean, maintained, and booked year-round.
Most of our team is from the Myrtle Beach area and we know the area, people, and attractions well. Our guests love our local recommendations.
You want to look for a few key services that a property manager should deliver and proof that they are great at providing these. A great property manager should offer:
- Transparent Pricing – Clear management fees with no hidden charges (especially around basic maintenance). Ask for the contract and go through all the fees on the phone.
- Proven Marketing & Booking Strategies – Professional photos, listings across major travel sites, and pricing that is closely monitored to ensure you stay booked.
- Strong Communication – Easy access to your manager and responsive guest support 24/7. If it’s hard to get ahold of them the first time, it usually won’t get better.
- Local Expertise – A team that knows the Myrtle Beach and North Myrtle Beach markets, and has boots on the ground.
- Property Care & Maintenance – They should be able to tell you how often they perform inspections and there should be documentation of this in case you want to see the inspection.
- Positive Reviews & Reputation – Look at their AirBnB and VRBO reviews – they should have at least a couple hundred and the overall score should be above 4.5.
A strong property manager can provide proof of their results. You should ask for links to their reviews, homeowner testimonials, real numbers from comparable properties, and inspection reports.
Yes. The City of North Myrtle Beach requires all short-term rental property owners to obtain a business license in order to legally rent their home or condo. This applies whether you self-manage your property or use a professional vacation rental management company.
The good news is that the City has set up an easy online application that can be completed HERE. Some of the information you’ll need includes approximate rental revenue for the upcoming year, emergency contact number, and management company information, if applicable.
In addition to the business license, you’ll also need to collect and remit accommodations taxes (state, county, and city). Failing to have the proper license or remit taxes can result in fines or penalties.
Yes, a great professional vacation rental company should help you generate more revenue for your rental. They should also help lower expenses in a few areas as well.
At MyBeach Vacation Rentals, many of our homeowners find that even after management fees, their property generates stronger net income than when they managed it themselves — with the added benefit of less stress and more free time.
Ways How They Can Increase Revenue:
Examples of How They Can Decrease Expenses:
A great revenue manager is constantly monitoring the market and making adjustments based on ever-changing trends. This should increase your revenue 10%-20% if they are good.
At MyBeach Vacation Rentals we have connections with golf travel, sports groups, and snowbirds that visit the area during our shoulder or off-season. They’ll book our homes and condos for the groups they represent.
Great guest experiences lead to better reviews, repeat bookings, and premium rates.
Most companies will have someone available 24/7 to answer any inquiries that come during the middle of the night. It’s important to answer guest questions quickly because they’ll find something else if you don’t.
At MyBeach Vacation Rentals, our in-house maintenance technician will be cheaper than just about any handyman a homeowner could find on their own. The best part is that we will guarantee the work as well.
Vacation Rental companies manage many properties and can get bulk discounts with cleaners for giving them a certain volume of work. These savings should be passed down to the homeowner.
Good property managers should be working with a company that insures stays for accidental damage, which protects the homeowner from paying out of pocket for these expenses. Bulk discounts will apply here as well and the homeowner should see the savings.
Yes. Most full-service vacation rental companies handle both cleaning and basic maintenance for the properties they manage. However, there are some companies that don’t do this. You’ll want to confirm with the management company you’re working with will:
Find the cleaners or have an in-house team of cleaners.
Coordinate the cleaning schedules and any maintenance work that needs to be done.
Proactively inspect the property after cleaners, and have a schedule for preventative maintenance to ensure your home stays in tip-top shape.
At MyBeach Vacation Rentals, we oversee all cleaning and maintenance for the homes and condos we manage. We have a great group of cleaners, maintenance technicians, and other vendors that we utilize heavily to maintain our homes in great shape for Owners and Guests alike.
Yes, you can legally manage your own vacation rental property in Myrtle Beach. Some owners start out this way, but it’s important to understand what’s involved. Here are some questions I would ask myself before getting started:
Are you willing to learn and constantly educate yourself on how to market your property, manage pricing, stay up to date on new regulations and policies, and learn new software?
- Will you manage a team of contractors and cleaners well?
- Do you want to constantly monitor guest messages, resolve complaints, and coordinate with vendors to fix issues?
- Are you well-versed with the property management technology that will keep everything organized and give you the ability to automate some tasks?
- Do you understand how to collect and remit the required state, county, and city accommodations taxes?
- Do you understand the costs of hiring maintenance technicians to inspect your property and handle minor issues?
- If you don’t live locally, can you handle the stress of dealing with large issues from many miles away?
- How will you maintain quality control and standards on your property to keep great guest reviews?
While it’s possible to do all of this yourself, most owners find it’s a full-time job. It’s hard to have peace of mind as well, if you don’t live nearby. Very few owners do this themselves for more than 1 or 2 years before they become burnt-out or sick of handling guest complaints.
That’s why many homeowners choose a local property management company like MyBeach Vacation Rentals. We handle all the day-to-day responsibilities, so you can enjoy the benefits of rental income without the stress.
