Suggestions for NC Airbnb

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Suggestions for NC Airbnb

Kathryn Baker
Rochester, NY · Member since 2018 · 25 posts · 4 votes

Hi!!

My husband and I are looking to buy a rental property in NC to Airbnb out while we are not there. We would like to be in a town that has the vacation attraction (either mountains or the beach).

Since we live in NY, we don't have a great handle on the local market and Airbnb laws. Does anyone have any, 1) recommendations for towns that would fit the above description, 2) recommendations for great real estate agents/property managers who are knowledgeable when it comes to current Airbnb laws and restrictions?

Thanks :)

Kathryn

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Cody Jenkins
Member since 2018 · 2 posts · 3 votes
7y

Lake Lure is a nice man-made lake in the mountains of NC with a public beach, boat rentals, quaint downtown shopping/eating, and Chimney Rock state park in walking distance. Year round vacation rental due to lake and mountains. 

If you buy there, you can give me a free night stay for the lead. Haha. 
 

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  • Lee Nestlerode
    Rental Property Investor · Chapel Hill, NC · Member since 2019 · 42 posts · 23 votes
    7y

    I have started to look at Topsail Island in NC, about 3 hrs from RDU. Looking for agents now. Meeting up with some people next week who have recently bought there. Will let you know what I find. I am planning to self manage using homeaway for marketing and just develop good contacts for cleaning and maintenance, as understand PM fees can approach 30%.

    0Reply
  • Mark UpdegraffBusiness Member
    Real Estate Broker · Rochester, NY · Member since 2010 · 1k+ posts · 706 votes
    7y

    IMO Air B n B regulations are subject to changing as local authorities see fit.  I know in some parts of Monroe County they've put restrictions on people's ability to have an Air B n B at all.... Those investors that were holding them, though lucrative for awhile, are now forced into a sale as the rental market will not support it as a lease term...  Personally, I would rather build up some solid cash flow in a market like Rochester, and use that to fund my vacation

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  • Dana Lapple
    Member since 2019 · 6 posts · 3 votes
    7y

    I don't know much, but I've heard that there are AirBnB restrictions in Wilmington, NC.  I'd say main vacation spots are outer banks (nags head, etc) and the southern beaches around Wilmington (Carolina Beach, Holden, etc).  Jacksonville is naval base.  I'd say the economic level rapidly declines as you move inland pretty much anywhere.

    Some tourist towns in the mountains would be Boone, Blowing Rock, Asheville.  Another thing to keep in mind is that it's very hard to find contractors, plumbers, etc. in the mountains. 

    0Reply
  • Cody Jenkins
    Member since 2018 · 2 posts · 3 votes
    7y

    Lake Lure is a nice man-made lake in the mountains of NC with a public beach, boat rentals, quaint downtown shopping/eating, and Chimney Rock state park in walking distance. Year round vacation rental due to lake and mountains. 

    If you buy there, you can give me a free night stay for the lead. Haha. 
     

    2Reply
  • Ashley Hum
    Real Estate Broker · Raleigh, NC · Member since 2019 · 17 posts · 10 votes
    7y

    The Mountains do well here for Air b&b! The beaches are controlled by the costal real estate rental companies really here

    0Reply
  • Jason Ryan Sejkora
    Member since 2019 · 1 post · 0 votes
    7y

    Raleigh has been getting involved in the Airbnb regulations. 
    Do your homework on where the home will be located. 
    https://www.newsobserver.com/news/business/article230626659.html

    0Reply
  • Chris Martin
    Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
    7y
    Originally posted by @Kathryn Baker:

    Hi!!

    My husband and I are looking to buy a rental property in NC to Airbnb out while we are not there. We would like to be in a town that has the vacation attraction (either mountains or the beach).

    Since we live in NY, we don't have a great handle on the local market and Airbnb laws. Does anyone have any, 1) recommendations for towns that would fit the above description, 2) recommendations for great real estate agents/property managers who are knowledgeable when it comes to current Airbnb laws and restrictions?

    Thanks :)

    Kathryn

    Not sure what "Airbnb laws" means, but NC general statutes (NCGS) Chapter 42A, the Vacation Rental Act, covers "privately owned residences that are rented to tourists for vacation, leisure, and recreational purposes."A section worth reading (and timely) is NCGS Section 42A-36, Mandatory evacuations, which applied to NC barrier islands in the last week. Another resource worth reading is V96/6 of the NC Law Review, a Comment entitled Searching for the Right Approach: Regulating Short-Term Rentals in North Carolina. This document covers what I call the "Big 4" (Raleigh, Charlotte, Wilmington, Asheville) markets in NC. I highly recommend anyone thinking about or currently engaging in STR or VR markets in NC read and understand this NC Law Review document. The Law Review Comment dissects topics like "the NCVRA does not apply if the tenant is seeking lodging for a purpose other than vacation" and the "in favor of the unrestrained use of the land" principle, thus provides insight that is hard to glean from just the NCGS text. A quick outline from the NCLR Comment: 

    A. Charlotte - A "Free Pass" Municipality
    B. Raleigh and Wilmington - "NewReg" Municipalities
      1. Raleigh - "NewReg"
      2. Wilmington - "NewReg"
    C. Asheville - A "NewReg" and (Potentially) "Block" Municipality
    D. Future of Ordinances and the Issues That May Arise

    My Summary - Disruptive Technologies and Methods have thrown a monkey wrench into the state regulatory framework. Know/learn and keep on top of state statutes, county zoning, and local municode STR restrictions.

    1Reply
  • Mike F.
    Rental Property Investor · Chapel Hill, NC · Member since 2017 · 37 posts · 42 votes
    7y

    @Chris Martin

    I run multiple AirBnb’s in Chapel Hill, and I’m on the advisory committee to help their strategy group plan proposed legislature.

    A more liberal reading of the NC Vacation Rental law is here,

    https://indyweek.com/news/wake/raleigh-airbnb-rules-general-assembly-preemption/

    1Reply
  • Robert Ombres
    Real Estate Broker · Asheville, NC · Member since 2016 · 138 posts · 63 votes
    7y

    @Chris Martin another great post. Thank you!

    @Mike F. Thank you for added clarity and being plugged into the advisory committee. We need to be more involved if we want our input, knowledge, and expertise considered.

    0Reply
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