Things to Consider If You are Buying Investment Property in Myrtle Beach:

In the Myrtle Beach area, property management fees can be as high as 50%. "On site" property management fees seem to run the highest, whereas an "off site" property management can charge as little as 15% for their services. If you have more than three units managed by the same outfit, you may be able to negotiate rates as low as 12% per unit.

While an "on site" property manager is more familiar with a particular project and may show higher earnings per unit than an "off site" property manager, sometimes their higher fees still garner the owner less in rental income. Case in point: At Baywatch, the on site property management gets between 17K-21K per year (for the one bedroom units), with a 45% property management fee, so a net of $9,350-11,550. Another offsite company manages about 95 units at Baywatch, garnering the homeowner of a one bedroom oceanfront condo between $ 15k-$17K per year, with management fees of only 15%; thus the bottom line to the homeowner is quite a bit higher: $ 12,750-$ 14,450.

Long term property management costs the owner quite a bit less 8% - 12%, with many firms charging 10%. Long term rentals are typically 3-12 months leases.