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Essential Features of a Profitable Vacation Rental
Property
The Outer Banks weekly vacation rental market is competitive.
Today’s renters want luxury features and amenities. If you
are investing in an Outer Banks home and would like strong
rental income, you need to keep reading.
“How well will this house rent?” is a question that investors
ask about every home they consider on the Outer Banks. The
answer depends on a combination of factors including the
location, size ,condition, amenities, and the home’s promotion
by the rental company and the owner.
Many homes have a “rental history,” which is a report
of the income the home has generated in past years. Some
homes which are new or have not been rented in the past
will have a “rental projection” which is an estimate of
what the home could or should generate in rents in the future.
A good buyer’s agent will help you sort out the facts from
fantasies.
Here are the most important features that today’s Outer
Banks guests are seeking that will help determine your homes
“rent-ability”:
Location, location, location…especially on the
Outer Banks
Proximity to the Ocean—the closer the better!
Most of our visitors come to the Outer Banks to enjoy
the beach. Everybody wants to stay on the oceanfront and
these homes enjoy the highest and most stable income in
any season and any year.
If you are not willing to invest in oceanfront, generally
it is best to be as close to the beach as possible.
The distance from the home to the beach access is a common
question from potential renters.
Some neighborhoods provide generous amenities that may
be important to some renters, but since many amenities like
pools can be found in individual homes, this is not critical.
Size of the house…depends on your needs and budget
There is a strong demand for larger homes on the Outer Banks.
Many vacationers want homes that can accommodate several
families and offer 6, 8, or more bedrooms. The large homes
often offer guests more amenities and features and allow
several families to share their vacation.
The number of master bedrooms is important. In most newer
homes, every bedroom will (and should) have its own bathroom.
The game room is an enjoyable feature in any home for
you and your guests. A pool table, foosball table, or ping
pong table will more than pay for itself in a strong year
of rentals.
Media rooms and home theater rooms become more popular
each year as well. Many folks prefer to stay in a smaller
home with just their own family and spend their time walking
on the beach rather than playing with the fancy features
of a large home. This is still quite common and enjoyable.
The rental return on smaller homes may not be as strong,
but this may be offset by the smaller investment amount.
Features and Considerations for your guests’
comfort and enjoyment
“Does it have its own pool?” is often a potential renter’s
second question. “Is it oceanfront?” is the first. Since
everyone cannot be oceanfront, pool-front is quite alright
for many families. Pool size is important—most guests will
see the picture of the pool on the internet before booking.
Add the heater to your pool and you are sure to get more
weeks in the fall and spring when the ocean may be too cold
for swimming. A hot tub is also essential for most weekly
rental property on the Outer Banks.
Electronics like TV’s and stereos can provide big sizzle
for a relatively small price. Flat screens, video games,
wireless internet access.
Up-to-date furniture is essential. The home may have been
built in the 80’s, but if the furnishings were built in
the 80’s also, its time for a change. Mattresses and bedding
should be fresh and clean.
Finally, you should allow pets to maximize income and
increase the number of weeks booked.
If you view your beach home as an investment and understand
what today’s guests are seeking, you are more likely to
have a profitable home. If you partner with a good rental
company, price your rental weeks correctly and have a plan
for maintaining and updating your home, you and your guests
will have an enjoyable Outer Banks experience.
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