Resort’s owner sues Myrtle Beach over new short-rental ordinance, claims $6.5M in lost profit - WBTW
Summary
A resort owner in Myrtle Beach is suing the city over a new short-term rental ordinance, claiming a loss of $6.5 million in potential profit. Hosts in Myrtle Beach and similar markets should monitor local regulations closely to understand the impact on their business and potential legal ramifications.
Key Insights
- •The resort owner claims a $6.5 million loss in potential profit due to the new short-rental ordinance.
Action Items
- ✓Hosts should stay informed about new or changing short-term rental ordinances in their area.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to comply with local short-term rental ordinances can result in financial loss.
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