Is Charleston, SC a strong rental market?

[Stephen Brown]

I'll be going down to Charleston on April 14th and I'd like to meet with a real estate agent while I'm there. Is this city known for short term rentals for vacation purposes? Or is it more of a long term rental market? I'd love to see how other investors are doing here.

[Troy Gandee]

Thanks @Jay Hinrichs.

@Stephen Brown We do have a lot of STRs. However, the regulations in each municipality are very strict and distinct. City of Charleston spans a few different geographic areas and has different "zones" for each. Each zone has different restrictions on maximum number of nights per year. There are also different restrictions for North Charleston, Mt Pleasant, Hanahan, Summerville, etc. The beaches are the most STR friendly, but they're extremely expensive. In general, the inventory in our whole market is extremely low, so picking up an exceptional deal is very challenging right now.