Over the course of time, smaller “cottages” on the Outer Banks have become less and less profitable in the weekly vacation rental programs. If this is the case with your Outer Banks rental home, consider the switch to a Long Term Rental!
Here are some reasons for you to consider the services of OBX Housing to help you make more money:
-You would no longer have to pay Power, Cable, Phone, WIFI and water bills for your rental home. This would all be the responsibility of the 12 month Tenant.
-Your insurance is less because you are not insuring contents and also don’t have different families in and out of the home every week with that liability. You will have a full-time, year-round resident in the home that will be required to get renters insurance to protect not only their contents but your property as well.
-You could still come to the Outer Banks for your vacation and write off some of the expense when you visit your Long Term Rental home while here on vacation.
-You could sell or donate the furnishings to any of our local charities who will provide you with a contribution receipt to deduct on your taxes.
-Long Term renters have less maintenance. Unlike Vacation renters, the 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 Long Term renter 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. Our specialty is Outer Banks long term Property Management!