Buying An Outer Banks Vacation Rental Home

Buying An Outer Banks Vacation Rental Home

Here are a few questions our Buyers ask:
Can I stay in the Outer Banks vacation rental home I just purchased if it’s in the rental program?
 According to the Vacation Rental Addendum the new Outer Banks vacation home owner must follow certain protocol. Once the deed has been recorded you must honor any OBX rental agreements which will end within 180 days after the closing date.  The Seller must provide a copy of the vacation rental agreement for each tenant, with the tenant’s name and address within 10 days after closing. If the vacation rental agreements end more than 180 days after closing, those tenants have no rights to enforce the terms of the vacation rental agreements. Tenants are entitled to a refund of any payments for vacation rental agreements not honored by the Buyer.
Can I change the Outer Banks rental company after the OBX vacation home purchase? Yes, you must honor the vacation rental agreements but owners can change the Outer Banks rental agency.  Keep in mind the home may have a history with the company with which it was listed and return rentals may be affected. If you do switch you must make sure you offer the same advertised amenities.
 Your Buy the Beach realtor can offer you assistance in this process and make your transition smooth.

Kelly Dean Headshot
Phone: 252-207-3655
Dated: September 11th 2013
Views: 878
About Kelly: Recently featured on HGTV's Beachfront Bargain Hunt episode on Kill Devil Hills and Nags Head! My f...

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