Guide To Buying A Vacation Rental In Murrells Inlet

Thinking about a place at the coast that you can enjoy and rent when you are away? Murrells Inlet offers that Lowcountry charm with real income potential if you buy the right property and manage it well. You want clear numbers, local rules in plain English, and a path that avoids surprises. This guide walks you through demand patterns, property types that tend to perform, taxes and insurance, and a simple way to model cash flow. Let’s dive in.

Why Murrells Inlet works for rentals

Murrells Inlet sits on the Waccamaw Neck in northeastern Georgetown County near the Grand Strand, which gives you access to beaches, golf, boating, and the MarshWalk’s waterfront dining. Regional tourism support through the county’s Hammock Coast program helps keep visitor interest strong year-round, especially in peak summer months. You can see that broader coastal push reflected in the Hammock Coast tourism resources.

Short-term rental demand here is highly seasonal. For the Myrtle Beach market, which is a practical proxy for Murrells Inlet, AirDNA’s MarketMinder shows annual occupancy in the mid-50 percent range with average daily rates in the mid-$200s. Other providers show different snapshots. For example, Airbtics reports different occupancy and rate figures because it focuses on Airbnb-only data. Expect strong June through August performance and softer winters, with events and holidays driving spikes.

Property types that tend to perform

Location and access

In this coastal submarket, oceanfront and ocean-view condos and beachfront houses anchor peak-summer demand. Marsh-front or water-access homes also attract guests who want fishing and boating. Easy access to the MarshWalk, Huntington Beach State Park, and nearby beaches can widen your booking window.

Amenities that boost ADR

Guests respond to features that make trips simple and memorable. Properties with pools, hot tubs, private decks or porches, pet-friendly policies, and off-street parking often support stronger rates and more off-peak bookings. Industry guides for the Grand Strand also highlight the value of tailoring minimum stays and pricing to peak events and seasons, as outlined in this market writeup on seasonal pricing and events.

Layout and flexibility

Multi-bath layouts are practical for groups. Lockout or dual-unit condos can be rented as separate spaces or together, which helps you capture different party sizes. With the right operations, that flexibility can improve both occupancy and average rate.

Price context and budgeting

Public housing indices place typical single-family and condo values in Murrells Inlet in the roughly $380,000 to $410,000 range. Use current MLS data and recent comparable sales when you model your purchase. Plan your budget around both acquisition costs and true operating expenses so your return targets are realistic in a seasonal market.

Taxes and legal must-knows

State accommodations taxes

In South Carolina, short stays are treated as accommodations. For stays under 90 consecutive days, you generally owe 5 percent state sales tax plus 2 percent state accommodations tax. The South Carolina Department of Revenue explains filing rules, forms, and when a platform or manager may collect and remit on your behalf. Review the state’s guidance before you list by reading the SCDOR accommodations page.

Georgetown County local taxes

Georgetown County imposes a 3 percent local accommodations tax on short-term lodging receipts. The county also has a 2 percent hospitality tax on prepared food and beverages, which affects restaurants rather than your lodging receipts. Filing schedules and remittance rules are outlined on the county’s Hospitality and Accommodations Tax page. The practical takeaway is that guests will often see state and local accommodations taxes that add up to more than 9 percent. If a platform or manager collects and remits for you, confirm that in writing and keep records.

HOA, zoning, and building checks

If the property sits in an HOA or condo, get the CC&Rs, bylaws, rules, meeting minutes, budgets, and the master insurance policy. Some communities allow short-term rentals, some limit them, and others prohibit them. Ask about minimum stays, parking rules, guest registration, fines for violations, and any pending special assessments. For any structural changes or added sleeping areas, verify permit requirements with Georgetown County Building and Planning.

Neighbor relations and compliance

Even in permissive areas, most enforcement is complaint-driven. Set clear house rules, use quiet hours, and have a local on-call contact who can respond quickly. Keep proof of tax registration and remittance and follow county guidance to stay in good standing.

Insurance and coastal risk

Flood and wind coverage

Coastal properties often face special flood hazard zones. If a home is in a FEMA-mapped SFHA, lenders may require flood insurance. You should also review windstorm or hurricane coverage needs and ask your broker about named-storm deductibles and wind/hail endorsements. The state’s hazard planning materials highlight coastal risk patterns in plain terms; you can review the South Carolina hazard mitigation plan overview to understand exposure.

Deductibles and quotes

Hurricane and windstorm deductibles are typically a percentage of the dwelling limit, which can materially change your out-of-pocket exposure after a storm. The Insurance Information Institute explains how those deductibles work. Always get address-specific quotes early, and if you are buying a condo, compare the association’s master policy to the unit coverage you will need.

Run the numbers: a simple example

Here is a straightforward template you can adapt with comps and quotes for a Murrells Inlet property. To mirror the broader market, use Myrtle Beach as a proxy for rates and occupancy.

• Example inputs: ADR = $259 and annual occupancy = 54 percent based on AirDNA’s market snapshot. That implies about 197 booked nights per year and roughly $51,000 in gross revenue.
• Management: Assume 20 percent for full-service management, which sits inside the common 15 to 30 percent range shown in industry fee summaries. That is $10,200.
• Cleaning and supplies: If average stay is 4 nights, you would have about 49 turnovers. At $150 per clean, which aligns with coastal examples in cleaning cost illustrations, plan for about $7,350.
• Maintenance reserve: Set aside 5 percent of gross, or about $2,550, for routine repairs and replacements.

Estimated net before mortgage, property taxes, and insurance is about $30,900. This is only a template. Replace each input with address-specific comps, HOA dues, tax details, insurance quotes, and a property manager’s itemized P&L.

How to evaluate rental potential

1. Define your comp set. Search active Airbnb, Vrbo, and Booking listings for Murrells Inlet and nearby beach ZIPs. Match size, view, distance to the MarshWalk or beach access, number of baths, pet policy, and presence of a pool. Compare nightly rates for peak and shoulder weeks and skim calendars for booked windows.
2. Pull market benchmarks. Use one or more analytics tools for the Grand Strand, such as AirDNA and Airbtics. Note the date range and whether the data is Airbnb-only or multi-platform.
3. Build your purchase and carry model. Use current MLS comps and closing costs. Add HOA dues if applicable and plan for utilities, pest control, landscaping, and reserves.
4. Confirm taxes and who remits. Review SCDOR’s accommodations guidance and the county’s accommodations tax page. Get written confirmation from your manager or platform about collection and remittance.
5. Check flood and hazard exposure. Order a FEMA flood-zone lookup and request an Elevation Certificate if needed. Use the state hazard overview as a primer and get quotes from a coastal-savvy insurance broker.
6. Verify HOA and property rules early. Read the CCRs, confirm whether short-term rentals are allowed, and gather budgets, minutes, and insurance documents.
7. Get two manager pro formas. Ask local full-service property managers for address-specific P&Ls that show projected occupancy by month, ADR by season, cleaning and repair costs, and an itemized contract. Compare their projections to third-party data and your comp set.

Quick buyer checklist

• Confirm state and county accommodations tax rules and filing steps using SCDOR’s guide and the county’s tax page.
• Request HOA or condo CCRs, rules, budgets, master insurance, minutes, and any rental restrictions.
• Ask the seller or manager for 12 to 24 months of monthly booking and expense history; if missing, model conservatively.
• Run a FEMA flood map, gather elevation data, and get insurance quotes for wind and flood before you offer.
• Build conservative, base, and optimistic revenue scenarios using at least two STR data providers plus local manager quotes.
• Verify who collects and remits taxes for each booking channel and keep proof of registration and filings.

Next steps and how we help

Buying a vacation rental in Murrells Inlet should feel confident and organized. With the right property, clear tax and HOA checks, and a disciplined pricing plan, you can enjoy the coast and build a reliable income stream. If you want address-specific comps, manager introductions, or a custom cash-flow model, reach out to Dan Benish. We will help you source the right home or condo and navigate each step with boutique, high-touch service backed by The Litchfield Company.

FAQs

What is peak season for Murrells Inlet rentals?

• The Grand Strand is highly seasonal, with the strongest demand in June through August and softer winter months; plan rates and minimum stays around summer peaks and key events.

What taxes apply to short-term rentals in Georgetown County?

• For stays under 90 days, expect 5 percent state sales tax plus 2 percent state accommodations tax, and a 3 percent county accommodations tax on lodging receipts; confirm who remits for each platform.

Do HOAs in Murrells Inlet allow short-term rentals?

• Rules vary by community, so read the CCRs and ask about minimum stays, parking, guest registration, fines, and any pending assessments before you commit.

How much do vacation rental managers charge locally?

• Full-service management commonly ranges from about 15 to 30 percent of rental revenue depending on services, property type, and location.

Do I need flood insurance near the marsh?

• If the home is in a FEMA special flood hazard area, lenders often require flood insurance; get a flood-zone check, review the elevation certificate, and ask for quotes early.