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Updated over 3 years ago on . Most recent reply
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OBX Short-Term Rentals
I'm new to short-term rentals. I'm looking to purchase a 4/3 on Hatteras Island, NC. Seems to me they rent from about 100$ a night in the winter and peak at about 385$ in the summer. Does that seem about right? I just went to booking web sites and picked a week or two each month. Is there a better way to find that information? I'm tring to find the vancancy rate as well. How does one normally figure that out if they are new to an area?
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My biggest concern would be property management options in the area. From my experience the Outer Banks are pretty notorious for not having a ton of management options available at a good price. Since it's such a remote island area, you're basically stuck with one of the local management options and they can leverage that to do the old "My way (price) or the highway." *plus if you need to fire them for any reason, who is there to replace them???
Performance concerns would get trumped when a management company's charging a massive % and there's no self management option. You might be able to find a cleaner but I feel like out there it's the property management cartel that runs the show. This is a unique thing for the Outer Banks area. Just heads up. @Patrick Sullivan