Questions to Ask Before Turning Your Myrtle Beach Home Into a Rental

Determine Your Rental Type

Decide whether your rental will be long-term or short-term, as this choice affects zoning, licensing, taxes, and management.

• Long-term rentals typically involve leases of 6–12 months. They provide predictable income, fewer turnovers, and less frequent cleaning and guest coordination.
• Short-term rentals usually involve leases under 90 days. They require frequent turnovers, fluctuating pricing, guest communication, and stricter compliance.

In Myrtle Beach, short-term rules are location-specific. Zoning districts starting with “R” generally prohibit short-term rentals, with limited exceptions in the RMV (Residential Multifamily Visitor) zone.

Verify Local Zoning and Community Rules

Zoning and HOA restrictions often surprise new landlords. To ensure your property is eligible:

• Determine if your home is inside Myrtle Beach city limits, another Grand Strand municipality, or unincorporated Horry County.
  
  
• Identify the zoning district for your address.
  
  
• Check if you are in an HOA, condo association, or neighborhood with rental restrictions.
  
  

The City of Myrtle Beach Planning and Zoning Department is the first stop for city properties. For HOAs or condo associations, review governing documents for restrictions on lease length, caps on rentals, approvals, or tenant requirements.

Understand Licenses and Taxes

Navigating licenses and taxes can feel overwhelming. Key areas include:

• City Business Licensing: If your property is in Myrtle Beach city limits, a business license is required for rentals, including both short-term and long-term properties.
• State Accommodations Tax for Short-Term Stays: Renting accommodations for fewer than 90 consecutive days is subject to South Carolina sales and accommodations tax, plus applicable local taxes.
• Horry County Hospitality Fee and Local Tax: If your property is in Horry County, transient accommodations may be subject to a hospitality fee and local accommodations tax. The Horry County Treasurer provides guidance on collection and remittance.

Confirm Mortgage and Insurance Requirements

Before listing your property, check with your lender and insurance agent.

Ask your lender:

• Does my loan require owner occupancy for a specific period.
  
  
• Do I need to notify you before renting the home.
  
  
• Will converting to a rental affect my rate, escrow, or terms.
  
  

Ask your insurance agent:

• Do I need a landlord policy instead of a homeowners policy.
  
  
• Does my coverage include liability for tenant-related claims.
  
  
• Do I have coverage for loss of rent due to covered events.
  
  
• Are there exclusions I should know about, especially for coastal weather risk.
  
  

Plan Your Budget and Cash Flow

A successful rental requires realistic financial planning. Consider:

• Expected monthly rent based on home type and location.
  
  
• Fixed costs: mortgage, taxes, insurance, HOA dues.
  
  
• Variable costs: maintenance, landscaping, pest control, utilities if included.
  
  
• Turnover costs: cleaning, paint, flooring touch-ups, rekeying.
  
  
• Capital reserves: HVAC, appliances, roof, exterior work.
  
  

For short-term rentals, also consider:



• Platform fees.
  
  
• Cleaning and linen services.
  
  
• Seasonal demand swings and slower weeks.
  
  

A clear budget will help determine if your property can be profitable long-term.

Ensure Your Home Is Tenant Ready

A rental should be safe, functional, and comfortable. Walk through your home as a tenant would:

• Do doors and windows lock smoothly?
  
  
• Are smoke and carbon monoxide alarms installed correctly?
  
  
• Are railings stable and steps safe?
  
  
• Is HVAC serviced and running efficiently?
  
  
• Are plumbing and drains in good condition?
  
  
• Is the exterior maintained and the yard manageable?
  
  

Coastal Waves Property Management can assist with maintenance coordination and quarterly inspections.

Decide Who Will Manage Operations

Even long-term rentals have ongoing tasks. Self-managing owners handle:

• Leasing and vacancy periods.
  
  
• Maintenance coordination and emergency calls.
  
  
• Documentation, compliance, and tenant communication.
  
  

If you want a more passive rental experience, a local management team can handle these tasks efficiently.

Rental Go-Live Checklist

Before converting your home, confirm:



• Rental type and eligibility under local rules.
  
  
• City and county licensing and tax setup.
  
  
• Mortgage and insurance requirements.
  
  
• Reserve plan to support long-term performance.
  
  
• Tenant readiness, including deferred maintenance.
  
  
• Consistent lease, screening, and deposit workflow aligned with South Carolina law.

Bottom Line

Turning your home into a rental requires careful planning across zoning, licensing, finances, and property readiness. Taking the time to evaluate each step can prevent costly surprises and ensure your rental operates smoothly.

Coastal Waves Property Management can help assess your home’s readiness, determine optimal pricing, and guide you to stable, long-term performance in the Myrtle Beach market.