All Forum Posts by: Reid Matthews

Thomas,

I am a local STR property manager. Happy to help you out in any way I can! Feel free to message me directly!

DEFINITELY Check whether this would be a legal short term rental.  Without knowing the address, this property would likely need to be your primary residence (4% tax rate) to be eligible.

Happy to chat about navigating all the rules and regulations!

Hey Kameron,

I operate several STRs in the greater Charleston area.  Feel free to send me a private message, we can connect, and find a time to chat.

Thanks!

Hey Meghan,

Like @Sarah Young said, it really depends on the location of the property.  Figure out where you want/where you can buy and then dive into regulations from there.  Most HOAs have added into their rules that you can not do rentals less than 3 months (or more).  

If you want to jump on a call and talk about it all in more detail, I am happy to help in any way I can.  I currently manage several properties all over the Charleston area. 

Someone can correct me if I am wrong, but I think every June (July?) you have to the re-apply for the str license it's first come first serve.  It does not automatically renew

Anthony,

If not downtown, I would recommend anything you can in Mt Pleasant on or around coleman blvd on the way to Sullivan's Island.  Also, on James Island off of Folly Road on the way to Folly Beach.

Obviously, you can still do well in plenty of other areas in town, but these are the ones I would initially focus your search. 

Misti Cox with King & Society can assist.

Sarah is right!

The city of Charleston has a STR map to guide you through the process. Google: City of Charleston STR Ordinances

Most (not all) properties north of Calhoun street in downtown Charleston are legal STR as long as the property is your primary residence, you meet parking needs, and one or two other small, easy qualifications.

I work in this world daily, feel free to reach out and we can chat!

Congrats, Jack!  If you need any help with best practices and rate management, I would be happy to pass on any knowledge I have!

Hey Will,

As a PM in the area:

-have a lawyer look over your lease

-make sure EVERYTHING is in your lease (who replaces air filters, who replaces smoke detectors batteries, who cuts grass)

-be thorough with background inspections

-make sure tenant is aware (and is in lease) on when fines occur for late rent and how much they are

Those are things that first come to mind.

In can be expensive and time consuming to set it all up the first time and do it in a way that protects yourself and your investment.

Let me know if I can help in any way!