Consider switching your Outer Banks Vacation Rental into an Outer Banks Long Term Rental! With larger and larger homes being built on the Outer Banks, we have seen smaller “cottages” here produce less rental revenue.
These smaller homes are typically 4, 3 and 2 bedroom properties. We are experiencing a shortage of Year Round rentals on the OBX and could get your home rented quickly with less worry and expense for you!
Here are some examples of how OBX Housing can help you make your rental home profitable again:
-Home Owner would no longer have to pay utilities such as Electric, TV (cable or satellite), Telephone, Internet service and H2o bills. All utilities would be the responsibility of the Year Round tenant and they would transfer utilities into their name and would be billed directly.
-Home Owner’s Insurance would be cheaper because you would no longer be insuring your furnishings and belongings as well as not having weekly Vacation Renters in and out every week which can be a liability. The Owner through OBX Housing would have a year round, full-time tenant in their home who would be required to have Tenant Insurance that would not only protect their contents but the home as well.
-You (the Home Owner) could continue to vacation along the Outer Banks and while here, document visits to your Outer Banks Long Term Rental home and therefore write off some of the expense of your vacation on your taxes! You could bring your family to an oceanfront home and spend your time enjoying the beautiful Outer Banks instead of working on repairs and maintenance caused by the weekly vacation renters who can be very hard on vacation rental homes.
-Because Long Term Homes are leased unfurnished, the Owner could sell or donate the household furnishings to any of our local charities. We always recommend Dare Challenge because they will come to your home to pick up furnishings or household items free of charge and will also provide the Owner with a receipt for their contribution which can be given to your CPA to deduct on your taxes for the rental property.
-Maintenance costs will decrease! Year Round tenants have much less maintenance than weekly Vacation tenants. Unlike weekly Vacation tenants, Full time/Long Term tenants are more conscientious of your home and are not calling every week to report screens out, light switches that don’t work and they are responsible for changing the HVAC filter each month so you don’t have that expense. The Year Round tenant would also be responsible for yard maintenance so that would eliminate that expense as well.
Please contact OBX Housing if you would like us to prepare details Rental Projection for you. We have an extensive waiting list of pre-Qualified Renters and our specialty is Outer Banks long term Property Management!