Outer Banks NC Rental Thoughts

[Samantha Iannelli]

Found a great property in Corolla NC, and while the rental calculators show positive cash flow, I'm not optimistic that it will rent year round.  Any experienced outer banks rental income property owners that can share their experiences?

Thanks!

[Mike Shemp]

Hi Samantha,

We have an oceanside rental in Kitty Hawk and have rented it out year-round on the short-term rental market for the last 3 years.  In those 3 years it feels like demand has gone up.  The lightest months for us are early December, January, and early February but outside of that it's been pretty active.  This summer it seems like less people are flying and more people are looking to drive to their vacation as we have been getting requests almost every day for availability.

There is talk of a future bridge for the northern part of the island where Corolla is located.  I don't know what that will do as vacationers tend to like Corolla because of the quiet and more remote feeling.... so adding a bridge may change that...but then again it may also open up the market a bit to more people with easier access.

Mike