How is your rental income this year?

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Real Estate

Things are finally starting to feel like summer☀️ on the Outer Banks!  It's been an unseasonably cool last few weeks but today is in the 80's and summer vibes are here!

How is your rental income this year?  We want to take a little break from the stats this month and focus on rental income has we head into the summer.  (But you can still get your numbers fix below.  Inventory continues to climb.)

The message we are getting from property management companies is that we are returning to a more normal rental market.  From the property managers at Carolina Designs Vacation Rentals:

"This year, as things stabilize with a return to mainly summer bookings and lighter shoulder seasons, it means we have certain challenges that weren’t present in the last few years.  Recognizing booking trends and planning things accordingly will be very important.  Becoming flexible with pricing and special offers for repeat guests will go a long way.  Pricing more moderately for 2025 is another change from recent years where we have seen huge jumps in rental rates year over year."

That’s what the rental company is saying, but how about you?  We thought it would be helpful to gather rental information from OBX HOMEOWNERS to really know what is happening with 2024 rentals.  Once we have the information we will share the results to help keep you informed.

Click here if you'd like to participate in our survey and own a rental home on the Outer Banks or would just like to see what's happening on the Outer Banks!

Looking for ways to increase rents?  Our property managment companies do have a lot of good insight into what guests are looking for and for what ultimately will help increase rents.  Here are a few tips from Carolina Designs:

"Another aspect to be considered is guest expectations when renting a home instead of a hotel room.  They are looking for a full experience from their stay and that requires our owners to be mindful of providing unique amenities that are a value-add for your guests.  Things like automated lighting, Bluetooth-capable systems, updated technology, EV charging, improved landscaping, along with the normal amenities like pools, hot tubs, and elevators."