Your Beach Home…. Drain or Gain?
For years you have enjoyed your Outer Banks home for family vacations and quick getaways, justifiably rationalizing the expense. But economic times have changed . . . value, residual income and savings have become part of our daily language, and you and your family have been taking a hard look at expenses. As part of that evaluation you may be targeting your dream home, wondering if itâ€™s a drain or a gain.
Your needs and the value you receive from that old beach cottage may have changed, but given current market conditions, this may not be the best time to sell the house. If you are not getting the rental income you feel you need, you may wish to speak to a property management company. The Outer Banks rental market has remained remarkably strong, and you may own an untapped asset. Resort Realty of the Outer Banks has over two decades of experience in creating programs for owners to maximize their income AND enjoyment of their Outer Banks Beach homes.
â€œI want to continue to take my vacation, in my own house with my family during the summer!â€ may be your first thought.Â Rental Management does not mean an end to the dream.Â Resort Realty wants you to enjoy your home AND have it available for others to enjoy when you are not using it. Discover why Resort is the leader in understanding homeownersâ€™ needs and wants.Â Our â€œOwner Webâ€ makes it easy to block and book the weeks you wish to keep to yourself, and monitor rental income and expenses at your convenience.Â We do not â€œpunishâ€ our owners for taking the peak weeks of summer for themselves . . . relax, enjoy.
â€œI donâ€™t want it wrecked by renters. Does this mean I have to take all my family pictures down?â€Â The Outer Banks is a family destination and Resort Realty adheres to the highest standards to protect your asset from unruly tenants. Of course your home may need to be modified to accommodate your guests and the wear and tear of increased use. So, you may need to lock up Grandmaâ€™s China or the picture of Uncle Fred in a bikini.
Yet sharing your home with others has intangible benefits–there is the knowledge that your house is valued by those who appreciate the â€œpersonalityâ€ of your home. Surely happy guest reviews recounting family get-togethers will be a bonus to the income you enjoy, making the minor inconveniences worthwhile.
If at some point in time, you plan to sell your home . . . well, even dark clouds have silver linings. Your Real Estate Sales Broker will be the first to tell you that homes with a rental track record sell for more and faster than ones that do not have one (or have a weak rental history). Remember, prospective buyers are looking to justify the expense of homeownership and want solid evidence that the home they buy will be affordable.
These issues only scratch the surface that surround the decision to turn your beach home into a stronger asset. We at Resort would love to engage in a non-obligatory conversation with you to discover if putting your home in our Rental Management is a good decision for you. No pressure, just a common sense approach to applying our expertise with your wants and needs to combat the strains of our present economy. Give us a call at 800.545.3908 to speak with our professionals for questions and details about putting a home in Resortâ€™s Property Management. Perhaps increased rental income may convince you that you have a strong, affordable investment that will appreciate over time and keep you owning your home for years to come! Itâ€™s worth a look!