For Buyers

Rental Programs

Unless you are building a new home, the home you purchase will more than likely be in a rental program. The Vacation Rental Act of North Carolina says that you must honor any rental agreements entered into by the previous owner for 180 days after you purchase the property.

Rental companies usually charge between 18%-25% of the gross rents to manage your property for the season. Each rental management company provides different services for its clients. Make sure you know what services are included in your management fee and what services your management company offers for an additional charge. Most rental agencies offer services additional to your contract al a carte.

If you are choosing a new rental company, it is important that you choose one that is active in your neighborhood and consistently rents the homes from your neighborhood already in its program. Ask for a rental projection for your home and then ask for the actual rental income from homes similar to yours in your community.

While no property management company can guarantee you rented weeks, they are professionals and their estimates must be based on similar properties. I recommend you get projections from several rental companies and evaluate your options.

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