Is Troy, South Carolina Good for Airbnb Investment?

To start an Airbnb in Troy, South Carolina, begin by researching local zoning laws and regulations through Greenwood County's planning department, as Troy falls under county jurisdiction rather than having its own municipal regulations. Contact Greenwood County at (864) 942-8500 to verify short-term rental requirements, which typically include business license registration and compliance with residential zoning restrictions. Obtain necessary permits including a South Carolina business license through the Secretary of State's office, register for state and local taxes with the South Carolina Department of Revenue, and secure appropriate insurance coverage that includes short-term rental protection. Find a suitable property by searching rural areas around Troy where residential properties are permitted for short-term rentals, considering proximity to attractions like Lake Greenwood State Park which is approximately 15 miles away. Furnish the property with essential amenities including comfortable bedding, kitchen supplies, Wi-Fi, and local guidebooks highlighting nearby attractions such as the Emerald Farm agricultural tourism site and historic downtown Greenwood. Create your Airbnb listing with high-quality photos, detailed descriptions emphasizing the rural charm and proximity to outdoor activities, and competitive pricing typically ranging from $75-150 per night for the area. Manage the property by establishing cleaning protocols between guests, maintaining responsive communication with visitors, and potentially partnering with local cleaning services in nearby Greenwood since Troy has limited service providers, while monitoring reviews and adjusting amenities based on guest feedback to maintain high ratings in this emerging short-term rental market.

To identify profitable short-term rental properties in Troy, South Carolina, focus on properties within 2-3 miles of Lake Robinson and near recreational areas, as this small town in Greenwood County attracts visitors for fishing, boating, and outdoor activities. Target 2-4 bedroom single-family homes or cabins with waterfront access, outdoor spaces, boat parking, and modern amenities like WiFi and updated kitchens, as these features command premium rates of $80-150 per night compared to basic properties at $50-80. Analyze comparable STR properties using AirDNA and Mashvisor to assess occupancy rates (typically 40-60% in rural SC markets) and seasonal demand patterns, with peak periods during summer months and hunting season. Research competition by monitoring existing Airbnb and VRBO listings within a 10-mile radius, noting their pricing, amenities, and guest reviews to identify market gaps. Utilize tools like Rabbu and STR Helper for market analysis, while leveraging local resources such as the Greenwood County tourism board and Lake Robinson area property listings on MLS systems, focusing on properties under $200,000 that can generate 8-12% annual returns after expenses including cleaning, maintenance, and property management fees.

To obtain an Airbnb/STR permit in Troy, South Carolina, you must first contact the Troy City Hall or Planning Department to determine specific local requirements, as Troy is a small municipality that may have adopted short-term rental regulations similar to other South Carolina cities. Typically, you'll need to submit an application that includes proof of property ownership or lease agreement, a site plan or floor plan of the property, proof of liability insurance (usually $1 million minimum), a business license application, and payment of applicable fees which generally range from $100-300 annually in similar South Carolina municipalities. Required documents often include a completed STR permit application, property tax records, homeowner's association approval if applicable, parking plan showing adequate spaces, and sometimes a neighbor notification form. The process usually takes 30-45 days for approval, during which the city may conduct an inspection to ensure compliance with zoning laws, fire safety codes, and occupancy limits. Troy likely requires compliance with state tax registration, adherence to residential zoning restrictions, maximum occupancy limits based on bedrooms and square footage, and possibly quiet hours enforcement between 10 PM and 7 AM, though you should verify current requirements directly with Troy's municipal offices as regulations can change frequently.

Short-term rentals (STRs) are generally legal in Troy, South Carolina, as the small town in Greenwood County does not have specific municipal ordinances prohibiting them as of 2024. However, operators must comply with South Carolina state regulations including business license requirements, sales tax collection (10.5% state and local combined rate), and accommodations tax (2% state rate). Properties must meet basic safety and zoning requirements, with most residential areas allowing STRs unless restricted by HOA covenants. Troy follows Greenwood County's general zoning guidelines, which typically permit short-term rentals in residential zones with proper permitting. There are no known prohibited areas within Troy's small municipal boundaries, though operators should verify compliance with any deed restrictions or neighborhood covenants. Recent statewide changes in 2023 strengthened tax collection enforcement for platforms like Airbnb and VRBO, but Troy has not implemented additional local restrictions or registration requirements beyond standard business licensing through Greenwood County.

The best areas for Airbnb investment in Troy, South Carolina would be the historic downtown district near Main Street, which attracts visitors interested in small-town charm and antique shopping, and properties within a 10-15 mile radius of major employers like textile facilities and manufacturing plants that draw business travelers. The area around Lake Robinson offers seasonal rental opportunities for fishing and water recreation enthusiasts, while properties near Highway 378 provide convenient access for travelers heading to larger cities like Columbia or Charlotte. The residential neighborhoods near Troy Elementary and the town center appeal to families visiting for local events, high school sports tournaments, and genealogy research at historical sites, with the proximity to Bishopville and other Sumter County attractions creating additional demand for short-term rentals serving regional tourism.

Troy, South Carolina does not impose specific local lodging or occupancy taxes on Airbnb rentals as of 2024, as it is a small unincorporated community in Greenwood County. However, Airbnb hosts in Troy are subject to South Carolina state accommodations tax of 7% on gross rental receipts, which Airbnb typically collects and remits directly to the South Carolina Department of Revenue on behalf of hosts for stays of less than 90 days. Greenwood County does not currently impose a separate county-level accommodations tax. Hosts must register with the South Carolina Department of Revenue if they collect taxes independently, and exemptions generally apply to stays of 90 days or longer, which are considered long-term rentals rather than transient accommodations. The state tax applies to all short-term rental properties regardless of the number of rooms or rental frequency, and Airbnb's automatic collection and remittance system simplifies compliance for most hosts in the area.

Starting an Airbnb in Troy, South Carolina requires approximately $180,000-220,000 in total initial investment. Property purchase costs around $150,000 based on median home prices in rural South Carolina markets as of 2023-2024. Furnishing a 2-3 bedroom property typically runs $15,000-25,000 including beds, linens, kitchen essentials, living room furniture, and décor from retailers like IKEA, Wayfair, and local suppliers. Initial setup costs including professional photography, listing creation, and basic renovations total $3,000-5,000. Permits and fees vary but expect $500-1,500 for business licenses, short-term rental permits, and potential HOA approvals. Insurance including landlord and short-term rental coverage costs $1,200-2,000 annually. Utility deposits and connections for electricity, water, internet, and cable run $500-800. First six months operating costs including utilities ($150/month), cleaning supplies ($100/month), maintenance reserves ($200/month), property management software ($50/month), and marketing expenses total approximately $3,000-4,000, assuming 50-60% occupancy rates during the initial period.

Airbnb properties in Troy, South Carolina typically generate modest returns with average daily rates ranging from $75-120 depending on property size and amenities, resulting in monthly revenues of $1,800-3,600 for well-managed properties with 60-70% occupancy rates. Operating expenses including cleaning fees ($25-40 per turnover), property management (15-25% of revenue), utilities ($150-250/month), insurance ($100-200/month), and maintenance ($200-400/month) typically consume 45-60% of gross revenue, leaving profit margins of 15-35% for successful operators. Properties within 10 miles of Winthrop University in nearby Rock Hill command premium rates during academic year and graduation periods, with some hosts reporting annual profits of $8,000-15,000 on modest 2-3 bedroom homes purchased for $120,000-180,000. Success factors include strategic pricing during university events, professional photography, consistent 4.8+ star ratings, and targeting the Charlotte metro overflow market given Troy's proximity to the North Carolina border. Local case studies from 2022-2023 show that hosts who invested in smart home features and maintained response times under 30 minutes achieved 20-25% higher occupancy rates than competitors, while properties lacking air conditioning or reliable WiFi struggled to maintain 40% occupancy during peak summer months.

Airbnb investments in Troy, South Carolina typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on the area's proximity to larger markets like Columbia and Charlotte. Properties in Troy generally achieve profitability within 18-24 months, with average daily rates of $85-120 depending on property size and amenities. The market benefits from consistent demand from business travelers visiting nearby industrial facilities and tourists exploring the Pee Dee region, though seasonal fluctuations occur with peak performance during spring and fall months. Initial investment costs are relatively low compared to major metropolitan areas, with median property prices around $150,000-250,000, allowing investors to achieve positive cash flow within the first year when properties maintain 60-70% occupancy rates throughout the year.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors looking in Troy, South Carolina. Local real estate agents in the area who focus on investment properties include Keller Williams Realty agents who understand the Airbnb market dynamics in South Carolina's smaller markets. AirDNA provides market analysis and revenue projections for short-term rental properties in Troy and surrounding areas, while Mashvisor offers investment property analysis tools that can help evaluate potential Airbnb returns in the region. RedAwning and Vacasa provide property management services for investors who purchase Airbnb properties in Troy but prefer professional management. Local real estate investment groups and agents from RE/MAX and Century 21 offices in nearby larger cities like Greenwood or Anderson often serve the Troy market and have experience with vacation rental properties. BiggerPockets connects investors with local real estate professionals who understand the short-term rental market in South Carolina, and companies like Awning and AvantStay focus on helping investors optimize their Airbnb investments in emerging markets like Troy.