Owning a condo in Myrtle Beach opens the door to a popular income strategy: renting it out on platforms like Airbnb or VRBO. But before you list your property, there are important rules, regulations, and financial factors to understand. Here's what every condo owner should know about short-term rental management in Myrtle Beach before getting started.
Can You Legally Rent Your Myrtle Beach Condo on Airbnb or VRBO?
The short answer is: it depends on your specific condo building. The two main gatekeepers are your HOA (Homeowners Association) and the city or county where your condo is located.
- HOA Rules. Many condo associations in Myrtle Beach have specific rental policies — including minimum stay requirements (often 3, 7, or 30 nights), registration requirements, guest limits, and noise or parking rules. Some buildings outright prohibit short-term rentals. Always review your condo's CC&Rs (Covenants, Conditions, and Restrictions) before purchasing with the intent to rent.
- Local Ordinances. The City of Myrtle Beach and Horry County both have licensing requirements for short-term rentals. You'll likely need a business license or rental permit, and you must collect and remit accommodations taxes to the state and county.
What Taxes Apply to Short-Term Rentals?
South Carolina imposes a 7% state accommodations tax on short-term rental income. Horry County and the City of Myrtle Beach add additional local taxes on top of this. Many hosts are surprised to learn that Airbnb and VRBO collect some — but not all — of these taxes automatically. You're responsible for knowing what's been collected on your behalf and what you still owe.
You'll also need to report rental income on your federal and state tax returns. If you rent for more than 14 days per year, the property is classified as a rental property for IRS purposes, and you may owe income tax on net rental income after deductions.
How Much Can You Earn Renting on Airbnb or VRBO?
Earnings vary widely depending on your building, location, unit size, amenities, and how well you manage your listing. Oceanfront condos in buildings with pools, lazy rivers, and parking tend to command higher nightly rates. As a rough benchmark:
- A 1-bedroom oceanfront condo can generate $20,000–$35,000 annually in gross rental income in a well-managed rental program
- A 2-bedroom unit with a full kitchen in a popular resort building can reach $35,000–$55,000 or more
- Units that allow owners to self-manage (vs. requiring a property management company) offer more flexibility on pricing and availability
Peak season runs from late May through August, with spring break in March and April also bringing strong demand. Shoulder seasons can still be profitable if priced correctly.
Self-Managing vs. Using a Property Management Company
Many owners in the North Myrtle Beach and Myrtle Beach area use professional rental management companies to handle guest communication, cleaning, maintenance, and tax filing. Management fees typically run 20–35% of gross rental revenue. In exchange, you get a hands-off experience — but lower net income.
Self-managing through Airbnb or VRBO directly gives you more control and keeps more of the revenue, but requires your active involvement. Many part-time owners who live out of state prefer the management company route for peace of mind.
What to Look for in a Rental-Friendly Condo
If your primary goal is short-term rental income, there are specific features that make certain condos better investments than others:
- HOA that permits rentals without minimum stay restrictions (or short minimums like 3 nights)
- Oceanfront or ocean-view location — proximity to the beach drives bookings and rates
- Resort amenities like pools, lazy rivers, hot tubs, and fitness centers
- On-site rental desk or rental-friendly management
- No rental cap — some buildings limit the percentage of units that can be in an active rental program
Frequently Asked Questions
Do I need a business license to rent on Airbnb in Myrtle Beach?
Yes. Most municipalities in Horry County require a short-term rental license or business license. Requirements vary by city — check with the City of Myrtle Beach, North Myrtle Beach, or Horry County depending on where your property is located.
Can my HOA stop me from listing on Airbnb even if the city allows it?
Yes. HOA rules are separate from local laws and can be more restrictive. If your condo association prohibits short-term rentals or requires a minimum stay longer than Airbnb's typical booking, you must comply — or risk fines and legal action from the HOA.
Will renting my condo affect my property tax rate?
Yes. If you rent for more than 14 days per year, the property is assessed at the 6% non-owner-occupied rate for property tax purposes, even if you also use it personally. This is the standard rate for investment and vacation rental condos in South Carolina.
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