MYRTLE BEACH, S.C., February 7, 2020– Coastal Carolinas Association of REALTORS® (CCAR) supports short-term rentals as residential use, not commercial. The fact that an owner may receive rental income from their property is not, in any way, inconsistent with the property being used as a residence. Any ordinance that prohibits property owners from renting their homes, or significantly restricts the right to rent, strips them of one-third of their fundamental bundle of economically productive rights—the right to live in a property, rent it and to sell it.
In addition, the adoption of rental regulations often results in the decrease of rental income or the loss of it altogether. Government rather than self-regulation in this case can also lead to unintended consequences such as a decrease in home values, a decrease in tax revenue, a decrease in home sales and an increased workload for city staff.
Homeownership serves as a cornerstone of the democratic system of government and it deserves a preferred place in the country’s values system. North Myrtle Beach prides itself on being a safe and affordable family tourist destination. It is crucial that any proposed ordinances preserve the city’s qualities long valued by visitors who sustain North Myrtle Beach’s vibrant economy.
“As an association, we stand ready to work with the city to protect the interests of property owners in North Myrtle Beach while also recognizing the public-private responsibilities of sustaining a strong economy now and in the future,” says CCAR Government Affairs Director Madison Cooper. “REALTORS® are the fundamental backbone of the economic vibrancy of a community” says Cooper. With that in mind, CCAR strongly supports policies that protect real property ownership.
About CCAR: CCAR was founded in 1945, serving Horry, Georgetown and surrounding counties as the primary real estate resource for its 4,000 active members and fast-growing community. Our programs and services were established to be an advocate for community service, the public’s right to use and transfer real property, and overall membership cooperation. As the primary REALTOR membership association in the area, we also strongly believe in giving back to the community.