Short Term Rental in Charleston, SC

[Monte Watson]

Hey All - Can anyone provide some insight regarding STR's in Charleston, SC? I own a property in the downtown area just outside the short term rental overlay zone and would like to know if anyone has had any luck with STR's outside the overlay zone? Thanks.

[Jay Hinrichs]

Originally posted by @Troy Gandee:

@Monte Watson Probably not. It's meant to be your primary residence. Owning it in LLC could be a red flag for zoning. I would consider maybe putting it in a trust as opposed to an LLC. Trusts are more common for a primary residence if you want some tax advantage, but you'll want to consult with an attorney. The main thing is that the property needs to be assessed at the 4% rate to be your primary residence. In order to get your 4% rate, you have to submit an application to the county and prove that it's your primary.

 Monte a little off topic but I wanted to just say that Troy is a great local agent there  we closed a nice deal yesterday that was a little more complicated than most and he got the job done..  So you would be in good hands.