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City of Myrtle Beach Director of Public Information Mark Kruea said that every 1,000 short-term rentals turned into long-term ones equals a loss of $5.7 million in direct economic impact.
The City of Myrtle Beach paused converting short-term rentals near the ocean for long-term use, and a new report claims doing so the city costs millions.
The short-term rental data tracking firm AirDNA reports almost 33,000 short-term rental listings on Airbnb VRBO or both in Myrtle Beach compared to more than 24,000 in Las Vegas, almost 22,000 in ...
Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
Myrtle Beach is a resort city on the East Coast of the United States in Horry County, South Carolina.It is located in the center of a long and continuous 60-mile (97 km) stretch of beach known as the "Grand Strand” in the northeastern part of the state.
The proliferation of short-term rentals can affect those in the area who are looking for long-term rentals. [5] Through short-term rental, landlords can make upwards of 30% more than they would on a rent controlled property. [citation needed] Thus landlords convert their properties into short-term rental units
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