Appraising Weekly Vacation Rentals On The Outer Banks

[JTip]

Interesting take, but all mullti families are in essence businesses. It's just that Fannie.Freddie have decided to treat them as residential.
JMNSHO

A CR can do 2-4 family.

I'm not saying we, as CRs, are not 'smart' enough to do weekly rentals, I just feel it is out of our certification as a CR.

It would be interesting for the OP or someone to actually ask their own state board and see what they say.

You might be surprised.......

 

[Meandering]

Transient housing.
Far different from annual rentals.
Check with your state board. Here, a vacation area, they have been cracking down on short term rental properties making the owners pay the hotel tax per transaction. Depending on your area tax structure and zoning, some owners maybe operating an illegal business, some owners may be operating a legal business, and some might just be renting their house if length of leases is not described or delineated as long or short within the zoning and local tax laws.

A lot truly depends on the local ordinances and the state board.

.

 

[Vinyl]

Thanks everyone! You’ve pointed out some interesting things, I’m going to have to think on them. I’m sure I’ll have some more questions shortly to follow up.

 

[JRS at OBX]

Ha! I've been lurking from time to time.