Myrtle Beach Hotels are no longer mom and pop single family owned Oceanfront resorts since the beginnings of the property management concept introduced in the late 1970s.
Most Myrtle Beach Oceanfront Hotels are now a property management concept. Individual homeowners pre-buy, from a Myrtle Beach resorts offer, one or more individual Myrtle Beach Hotel condo rooms with the promise that rentals from the Myrtle Beach resorts property management firm will cover the cost of the mortgage each month.
Because of this low cost of capital for the Myrtle Beach Hotels property management firm, most Oceanfront Myrtle Beach Hotels now include amenities like hot tubs, fitness centers, and restaurants at the hotels on site. Since the mid 1990s, the trend has been to build Myrtle Beach Hotels with lazy river rides and Oceanfront pools that wow not only tourists on Myrtle Beach vacations, but also potential condo purchasers.
While these changes to the construction of Myrtle Beach Hotels have been good for tourists, unfortunately investors have really been squeezed by the mindset of the property managers and the over development of Myrtle Beach Hotels on the oceanfront.
Investors are putting down as much as $750,000 for condos at some Oceanfront 3 bedroom Myrtle Beach Hotels only to find the property manager renting these rooms to retailers like Hotels.com for as little as $99 per night. Many managers of Myrtle Beach Hotels are more concerned with selling on price rather on the quality of the resort’s concept.
Why is that? Because the Myrtle Beach Hotel’s manager has little invested in the property himself, yet he does have much overhead in salaries for housekeeping, front desk, reservations, maintainence, and marketing. The trend for Oceanfront property managers has been to pick up as many Oceanfront Myrtle Beach hotels as possible at seemingly low percentage rates and then fill these Myrtle Beach rentals in a volume way so as to cover overhead. At first glance, this may seem wonderful. Unfortunately, it is the individual investor that gets squeezed as his Myrtle Beach condo is beat up and he is left with no money to reinvest for room improvements at the end of each tourist season. Ultimately it is the tourist, then, who later takes Myrtle Beach vacations in this same condo that suffers.
Myrtle Beach Hotels and Condos recognizes that these Myrtle Beach property managers are operating unethically. We will make sure that you are informed on which Myrtle Beach Hotels are being run by these volume minded operators as the seasons move along.
As these Oceanfront Myrtle Beach Hotels age, your Myrtle Beach family vacations will need to move to better run and better kept concepts.
Tags: Condos, hotels, lazy river, resorts
