Responding to recommendations from its 2004 Vacation Rental Advisory Committee, the Real Estate Commission has agreed to support efforts to amend the North Carolina Vacation Rental Act.
One change would simplify the reporting requirements for vacation rental managers and property owners when selling property subject to a vacation rental agreement. Another would subject property owners to the same requirements for refunding rent regardless of whether the tenant is forced to leave the property due to a mandatory evacuation order or is unable to occupy it due to a mandatory evacuation order.
Also upon the recommendation of the advisory committee, the Commission will publish a brochure to better inform owners of vacation rental properties regarding security deposits, vacation interruption insurance, rent refunds and related matters. The full report of the advisory committee is available on the Commission’s website, www.ncrec.state.nc.us.
Serving on the advisory committee were Timothy M. Cafferty (Corolla), Linda A. Hess (Kill Devil Hills), Kim J. Johnson (Blowing Rock), Timothy W. Midgett (Hatteras), S.R. “Buddy” Rudd, Jr. (Oak Island), J. Alan Holden (Holden Beach), Assistant Attorney General Barbara Shaw, NCAR Director of Regulatory Affairs Rick Zechini, Bill Rowe from the N.C. Justice and Community Development Center, and Real Estate Commission members Skip Alston and WandaProffitt. Commission Executive Director Phillip T. Fisher facilitated the discussion.
The Real Estate Commission thanked the advisory committee members for their valuable service in addressing these and other important issues affecting vacation rental consumers, property owners and rental managers.
This article came from the November 2004-Vol35-2 edition of the bulletin.