Myrtle Beach Condos - Will there be a rental season?

Myrtle Beach condo owners are worried the rental season may be over before it even started.

So many condo owners rely on spring and summer rentals to provide the necessary income to help pay the mortgage, hoa payments and other expenses. Right now, the beaches and hotels are closed though we are expecting an annoucement on opening the beaches soon. Even when the beaches open, there would be no condos or hotels for people to stay until we reach a further phase of openings.

The real question:

If hotels and beaches were to open now, would people hurry to book their summer vacations or will people be hesitant to travel? That is the question we are all asking ourselves and the answer could be the determinating factor in how condo owners will survive.

I have heard some condo owners say they cannot survive without a strong rental season. I am not sure what that means but they are comtemplating selling the unit now to prevent them from having finanical stress this Fall.

As a local real estate professional, I am a bit concerned for the Myrtle Beach Condo owners that may have purchased with very little down payment and total reliance on rental income their first year. I will keep us all posted on what happens in the condo market as we progress through the year.

Feel free to reach out if you have real estate related questions:

Greg Harrelson

Century 21 The Harrelson Group

www.c21theharrelsongroup.com