Arbitrage in Charlotte
Is there anyone out there using the rental arbitrage strategy in Charlotte? Just from taking a quick look around I found that there are less that 1000 STR's in the Charlotte area proper and was wondering if there are any restrictions as far as using a property for short term rentals. Any insight on this area would be very helpful. Thank you in advanced.
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Hi Jon!
My name is Kasey and I have a team, ROI Realty Partners and we specialize in helping investors! Charlotte and its surrounding areas (counties) have ample opportunity in the rental market. Regarding STR, there are restrictions, and they vary. For example, Iredell county (north of Charlotte) just passed a law that if you want to STR your home you need to rezone it. Regarding Mecklenburg (Charlotte) specifically, many HOAs have rental restrictions (such as a minimal lease requirement), which can make STR tricky. Many of our clients that are looking at STR are also looking at MTR as Charlotte is currently top 20 in the country for traveling medical professional demand (furnishedfinders), and we are currently one of the largest cities without a medical educational institution. That is all changing with the development The Pearl, which will also increase the demand for MTR as there will be more students, doctors, etc. coming to the city for months at a time. The Pearl is expected to start seating students in 2025.
Do not hesitate to reach out if you have more questions or would like more market information!
- Kasey Hardt
- [email protected]
Hi Jon!
My name is Kasey and I have a team, ROI Realty Partners and we specialize in helping investors! Charlotte and its surrounding areas (counties) have ample opportunity in the rental market. Regarding STR, there are restrictions, and they vary. For example, Iredell county (north of Charlotte) just passed a law that if you want to STR your home you need to rezone it. Regarding Mecklenburg (Charlotte) specifically, many HOAs have rental restrictions (such as a minimal lease requirement), which can make STR tricky. Many of our clients that are looking at STR are also looking at MTR as Charlotte is currently top 20 in the country for traveling medical professional demand (furnishedfinders), and we are currently one of the largest cities without a medical educational institution. That is all changing with the development The Pearl, which will also increase the demand for MTR as there will be more students, doctors, etc. coming to the city for months at a time. The Pearl is expected to start seating students in 2025.
Do not hesitate to reach out if you have more questions or would like more market information!
- Kasey Hardt
- [email protected]
Hey Kasey, just fyi Iredell county is in litigation because of the new zoning regulations and are not currently enforcing it.
"If you previously complied with the new regulations and applied for a permit; the County will not seek further enforcement of the permit(s) until receiving further order and/or direction from the court." Iredell county STR regulation page.
thank you! As we can all see, STR are making an impact. Curious to see how the rules and regulations are going to continue to change in the next few years!
- Kasey Hardt
- [email protected]
This is a great strategy for the area if you're close to the attractions in the city!
They could also work great for medium term rentals as well.
Great information Kasey!!!