vacation rental property Archives - Scott Team Realty, Inc.

Finding an OBX Rental Gem

When you begin to look at vacation rental homes for sale on the Outer Banks, it often becomes obvious… If the property only generates the same income as it does right now, then you’ll end up having a negative cash flow. Why is that? This article will discuss reasons why and help you in the process of finding an OBX Rental Gem. Flexibility For many vacation rental homeowners, a home here is not about making money. It’s about having flexibility for OBX vacation time. Of course, these owners … Continue reading...

Outer Banks Septic Systems

Many areas of the Outer Banks don’t have central sewage systems or community sewage systems. As a result, it’s a good idea to have a little knowledge about septic systems so that you can protect your Outer Banks property and make good buying decisions. This blog will provide some basic information about Outer Banks septic systems. What is a septic system? Basically, the septic system is a mini-sewage treatment plant. Septic systems clean the effluent to a level that does not contaminate the … Continue reading...

Outer Banks Bucketlist for July

July is probably the most popular month for the Outer Banks. There are years when there is no vacancy at vacation rental cottages, hotels and motels. Most years, July is the hottest month of the year too. It's that period of time when cold fronts rarely make it this far south and the Bermuda high pressure gives us those afternoon cooler breezes off the sound. There are best times of year for different Outer Banks activities. Here's our Outer Banks Bucketlist for July items. Snorkel an … Continue reading...

Maximizing Vacation Rental Income

The popularity of the Outer Banks as a great place to vactioners love our beautiful beaches and historic sites. Both tripsavvy.com and US News and World Report recently published articles touting this vacation spot. With these vacationers coming, the affordability of an Outer Banks vacation rental or second home should continue to be good. This post offers a few suggestions for maximizing vacation rental income. A vacation rental home is similar to a business. First, you need to attract … Continue reading...

Vacation Rental Homes on the Outer Banks

Not everyone looking to buy a home in the OBX is looking for their forever home. Many are looking for a rental property. When buyers decide to look for a rental property specifically, there are many additional aspects to consider. These aspects are different than a typical home buying process. The OBX vacation rental market is unique. Therefore, it is important for prospective vacation rental owners to understand the market and their options before making the investment. While Airbnb is … Continue reading...

Get OBX Market Exposure

Since 2020, we have seen the housing market explode. Some expected this to fizzle out in 2021, but three months into 2022 and the housing market, especially in the OBX is hot. More importantly, there is a lack of inventory, which is sending prices up. Inventory is down 34% between February 2021 and February 2022. Current inventory in the Outer Banks Association of Realtors’ MLS system is sitting near 700 properties whereas last year it was just over a thousand. Moreover, in March 2020, there … Continue reading...

Outer Banks Vacation Rental Income

Most Outer Banks buyers want to know about the vacation rental income available with a house. That income helps make homes here more affordable. Good rental income is a critical part of the information needed in most buying decisions. This article will help you better understand Outer Banks vacation rental income. Property Management Companies vs. Self management Most OBX vacation rental owners don’t want to be involved with the day to day management of the property. Local … Continue reading...

Sight Unseen OBX Purchase?

A sight unseen OBX purchase was as rare as purple sea glass just a few months ago. Our bridges to the Outer Banks have been closed since mid-March. Prior to the pandemic many out of town buyers were seriously looking at purchasing and collecting the summer rental income. Of course, those plans are over or delayed for most folks since they can not get here to see the houses. Not everyone has stopped shopping here though. In fact, we’ve had three different buyers who have been comfortable … Continue reading...

Solution to OBX Rental Income Dilemma

I think there is a solution to the OBX rental income dilemma. This article will explain this problem and provide a solution so that, hopefully, people don’t have to be in this position in the future. The problem As of this moment no visitors are allowed on the Outer Banks. Local government is concerned that our limited health care facilities could quickly become overwhelmed by the pandemic. There is no set date when vacationers will be allowed back in. This could become a real problem for … Continue reading...

Outer Banks Insurance Primer

Questions about Outer Banks insurance are often the first thing buyers ask me when they start their home search here. Yes, homes can be insured for just about all types of events. It can be expensive and it can be fairly reasonable depending upon the property. This blog will provide you with some of the basics of insuring a home here. It’s likely we’ll go into more detail about each of these types of policies in the near future. Different Environment Different Insurance This coastal area has … Continue reading...