South Carolina Vacation Rental Act and Time Sharing
South Carolina's coastal and resort markets make short-term rentals and time-shares a distinctive exam area. This chapter covers the Vacation Rental Act and vacation time-sharing plans.
Vacation Rental Act (Title 27, Chapter 50)
The Vacation Rental Act governs short-term rentals of residential property, which is significant in the state's coastal and resort markets. It sets rules for vacation rental management agreements between owners and rental managers, including handling of tenant funds and what happens if the property is sold. Brokers who manage vacation rentals must understand it.
Vacation Rental Management Agreements
A written vacation rental management agreement sets the rental manager's authority and duties, how rents and tenant deposits are handled, and the consequences if the property transfers to a new owner. These provisions protect owners and tenants in the short-term rental market.
Vacation Time Sharing Plans (Title 27, Chapter 32)
South Carolina regulates vacation time-sharing plans under Title 27, Chapter 32, which includes disclosure and a statutory rescission (cancellation) right for buyers. Given the resort markets, time-share rules are a distinctive exam topic, separate from ordinary landlord-tenant or federal lending law.