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In 2024, the City of Myrtle Beach halted converting short-term rentals and hotels near the ocean into long-term rentals. Here’s what the moratorium means
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.
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.
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
The first boardwalk in what would later be called Myrtle Beach connected its first hotel, the Sea Side Inn, and the first of several pavilions. [11] Myrtle Beach had a wooden boardwalk in the 1930s. After being upgraded with concrete in 1940, with plans to expand it delayed by World War II, [12] it was destroyed by Hurricane Hazel in 1954.
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