Atlantic Beach on track to secure first high rise in their history. How did we get here? - myrtlebeachonline.com
Summary
This article discusses the potential for the first high-rise building in Atlantic Beach, SC. While not directly about STRs, it highlights potential market changes in a specific location that could impact the local STR landscape, including development and potentially increased competition.
Key Insights
- •The article focuses on local real estate development. The addition of a high-rise could potentially affect the existing housing stock, including short-term rentals.
Action Items
- ✓Hosts in the Atlantic Beach area should monitor local news and zoning changes, as new developments can affect property values and rental demand.Effort: lowImpact: medium
Common Mistakes
- ⚠Failure to stay informed about zoning changes and development can lead to unexpected competition, decreased property values, and changes in the types of allowed rentals (e.g., permanent vs. short-term).
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The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
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