Outer Banks deals

I am seeking Outer Banks rental veterans who feel comfortable discussing rentals this season vs. past seasons. I am preparing a travel piece on deals, bargains, prices etc. in this miserable economy

Outer Banks deals

I can tell you it is not all dome and gloom here. Rentals are coming in later than normal, why is the question. Two factors are in play, some are not able to come, as they have in years past, for a variety of reasons. Money is tight, they have lost a job, worried, etc are some reasons. But there are others who are coming because they have had to cut back on their normal travel plans to Mexico, Disney World, Europe and they are scaling back and coming to the Outer Banks instead. These folks don%26#39;t know to book early so they are booking now, our phones are ringing.

I think if there is an area of the Outer Banks that is going to see a slow down in summer rentals it will be up in the Corolla area and down in the Hatteras area. The extra 1 to 2 hour drive to those locations has an affect. It also seems like people are scaling back to smaller homes than in the past. Rather than getting the the whole family of 24 together to split a huge house, many are coming with just the immediate family of 4 or 5 and renting a smaller home back away from the ocean and saving some money. Corolla has predominantly huge homes that are more expensive than Kitty Hawk to Nags Head and that is going to prevent those scaling back from renting there, to some degree. Many renters also want to stay in the center of action and Kill Devil Hills and Nags Head is that. Time will tell but 5% reduction in rentals seems likely in the Southern Shores to South Nags Head area.

Outer Banks deals

I own a 3-bedroom townhouse, and my unit is fully rented all summer except the last week of Aug-beginning of Sep. Last year, we had 2 weeks left in Aug that did not rent until July. There are 2-bedroom units in the complex with lots of weeks still available. I think people like the fact that we have 3 bedrooms and are on the ocean with a pool. They can bring a larger family or some friends because of having another bedroom. Plus, ours is a lot less expensive not being a house.

I have heard that there are many of the ';large'; ocean front homes not renting.

If you search a few rental sites, you can see for yourself how much is still available and how many deals owners are running.

I own a 5 bedroom in Corolla that sleeps 14. I have been solidly booked from March 28 through the last week of September and even have an October booking already - that%26#39;s 23 weeks. I didn%26#39;t discount at all. I understand that some rentals are slower than in the past but I believe that not only the economy has had an impact but also the accessibility of information on the internet. It%26#39;s easier to wait until the last minute because of how easy it is to make reservations and find out what%26#39;s still available. We all need to remember that over 90% of the population is still employed and will still bring their families to the beach. If you maintain a house in great condition with plenty of amenities and have a great property management company I believe that it will still rent.

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