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Living near the beach can bring a plethora of opportunities; surfing, paddle boarding, having that perfect glass of wine overlooking the ocean, or the simple pleasure of constantly reminding your toddler to stop eating sand. In addition to finally achieving the envious salt life - it can also create the dream of not only home ownership in a desirable area, but the opportunity for financial gain through property management. With the recent boom of AirBnb, VRBO, and builders over promising your home will be done by the holidays, many are now asking - should we consider a rental property?
Before considering buying a rental property or turning your humble abode into a mini Biltmore complete with mints on your guests pillow shams, be sure to speak with your lender and check any local restrictions; both county wide and your local HOA covenants if applicable. Once you have the green light, the next step is protecting your home and your investments. Be sure to think of the following safety precautions while setting up your rental as per VRBO's guidelines:
Carbon monoxide and smoke detectors
Your rental should have enough of these life-saving safety devices based on the size of your home. Smoke detectors with flashing lights can help for those who are hard of hearing.
Fire extinguisher
Place fire extinguishers throughout your home in places with a particular fire risk, like kitchens and near any fireplaces or BBQ areas. And don’t forget to include the operating instructions for each one.
First aid kit
Provide at least one fully stocked first aid kit for emergencies, and make sure guests know where it is. If your home is on the bigger side of rentals, place two or more kits throughout the house.
Deadbolt lock
Reassure your guests there will be no unauthorized access to the home during their stay, and install a deadbolt or smart lock to provide an additional layer of security.
Outdoor lighting
Motion sensor lights outside of your home provide well-lit exteriors, enhancing security and helping travelers find their way around after dark.
If owning a rental property in the Triangle or Coastal area is something you're considering - I would love to hear from you! Send us an email at kellyohanlonpeedinllc@gmail.com or call us at 910-233-8802!
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