No other American city has a short-term rental calendar quite like Augusta's. For one week each April, the Masters Tournament fills every hotel room for miles and turns ordinary homes into some of the most sought-after rentals in the country. The other 51 weeks are what decide whether an Augusta STR pays for itself.
In short: LendingStreet finances Augusta-area short-term rentals with DSCR loans that can qualify on projected nightly-rental revenue on some programs, with no W-2s or tax returns and LLC borrowers allowed. Loans start at $150,000 with no stated maximum, purchases go up to 80% LTV and the standard minimum DSCR is 1.0x. The key underwriting question in Augusta is how much of the projected revenue depends on Masters week, so we look at the numbers both with and without it.
During tournament week, homes near Washington Road, National Hills, Forest Hills and West Augusta, and many across Columbia County, rent for weekly amounts that can rival several months of normal income. Many local homeowners rent their own homes that week, which is a long-standing Augusta tradition.
For an investor, the steady demand comes from elsewhere. Fort Gordon (named Fort Gordon from 2023 to 2025) brings military families, contractors and trainees on temporary orders. The Augusta University and Wellstar MCG medical campus, Piedmont Augusta and the VA hospitals draw traveling nurses and patients' families. The Savannah River Site and plant projects across the river in South Carolina bring contract workers for weeks or months at a time.
Augusta-Richmond County is a consolidated city-county government, and it applies zoning, business license and hotel-motel tax rules to rentals. Columbia County, Aiken County and North Augusta in South Carolina have their own approaches, and many newer subdivisions in Evans and Grovetown have HOA covenants that bar rentals under 30 days or limit leasing.
Neighbors in established Augusta neighborhoods tend to notice rentals, and noise, parking and trash complaints can lead to enforcement. Clear house rules and a local contact help.
Rules change, especially around Masters week, so confirm with the city-county planning and business license offices, or the relevant county across the river, before you buy. Check the HOA covenants before you write the offer, not after.
Different parts of the market serve different guests, and the property type should match the demand.
| Area | Typical guest | What to check |
|---|---|---|
| West Augusta, National Hills, Forest Hills | Masters visitors, medical families | Zoning, business license, parking |
| Summerville (The Hill), downtown | Hospital staff, weekend visitors | Historic district rules on exterior work |
| Evans, Martinez, Grovetown | Fort Gordon stays, families | HOA leasing limits |
| Clarks Hill (Thurmond) Lake area | Lake weekends, fishing trips | County rules, septic, Corps shoreline rules |
| North Augusta and Aiken, SC | Masters overflow, equestrian events | South Carolina and local permit and tax rules |
This example is illustrative and not a quote. An investor buys a four-bedroom home in Columbia County for $340,000. The revenue projection supports about $38,400 a year, or $3,200 a month, and about $9,000 of that comes from tournament week. Taxes are budgeted at $260 a month and STR insurance at $160.
At 75% LTV the loan is $255,000. Estimated principal and interest on a 30-year term is about $1,740, for a total payment of about $2,160. On the full projection, DSCR is about 1.48x. Strip out Masters week and revenue falls to about $2,450 a month, for a DSCR of about 1.13x. Still above 1.0x, which is the kind of cushion we like to see.
| Item | Full projection | Without Masters week |
|---|---|---|
| Loan amount | $255,000 | $255,000 |
| Estimated principal and interest | $1,740 | $1,740 |
| Taxes and insurance | $420 | $420 |
| Total monthly payment | $2,160 | $2,160 |
| Qualifying monthly revenue | $3,200 | $2,450 |
| DSCR | 1.48x | 1.13x |
Many Augusta operators mix nightly stays with furnished rentals of 30 days or more. Traveling nurses on 13-week contracts, service members waiting for on-post housing and plant contractors all need furnished space for a month or more. Those stays can smooth out the slow summer months and are often easier on the neighbors.
If the property is likely to run mostly as a medium-term rental, tell us at the start. Some programs can underwrite it on market rent for a furnished unit, and the long-term rent is a useful fallback number for any STR file.
On some programs, the loan can qualify on a third-party revenue projection rather than a lease. Underwriters may reduce the figure or compare it with similar active listings. In Augusta, a projection that leans heavily on April can get trimmed, which is why the without-Masters number matters. If your projection comes in low, see /str-loan-low-airdna-projection.html.
Owners who already have twelve months of booking history can use it on some refinance programs. Keep platform payout reports and a simple month-by-month summary that separates tournament week from the rest of the year.
Short-term stays in Georgia are subject to state sales tax, local hotel-motel tax and Georgia's per-night lodging fee. Some platforms collect part of this; you remain responsible for registering and filing what they do not. Investors pay property tax without the homestead exemption, so model the bill on your purchase price. Properties across the river in South Carolina follow South Carolina's accommodations tax rules.
Furnishing, cleaning, supplies and platform fees are real costs that do not appear in the DSCR ratio. Budget them separately.
Tournament week also brings its own costs: extra cleaning, higher insurance limits some operators carry, and wear on the home from larger groups. Some owners hire property managers who specialize in Masters rentals and charge a higher share of that week's income.
A short checklist saves a lot of trouble.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the address, price and your revenue plan, and we will size the loan on the full projection and on a conservative case. Call (877) 298-1001 or use the form below to get a quote.
It is part of the annual projection, but underwriters may discount revenue that depends on a single week. Plan for the loan to work without it.
Yes. Furnished rentals of 30 days or more are common near the medical district and can be part of your plan.
Rules vary by zoning and by subdivision. Many HOAs in Evans and Grovetown restrict short-term leasing, so check covenants first.
Yes, if it can legally operate as a rental. Check county rules, septic capacity and Corps of Engineers shoreline rules for docks.
The program minimum is 620.
Yes. South Carolina properties qualify the same way, subject to South Carolina and local rental rules.
Yes. Cash-out goes up to 75% LTV, and seasoning varies by program.
No. Our loans are for non-owner-occupied investment property only.
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