Pinehurst Rental Property
If you own residential property in Pinehurst, Southern Pines or in one of the surrounding towns, you may be able to rent it out. There are 3 different options when it comes to renting a condo or house for residential purposes.
Short Term Golf or Vacation Rentals
You can place your home or condo into a golf rental program for short term rentals of one week or less. Naturally, condos are more popular when it comes to rentals, but there are some homes on rental programs. While rental prices vary depending on location, the rule of thumb is that rents are from $75 – $100 per night, per bedroom.
Property Management Companies in the area usually charge rental fees ranging from 15 – 25% of the rent, and that can include housekeeping. There are several local Golf Package/Management Companies that have a good track record of booking trips with lodging, and these are your best bet because they attract golf vacationers seeking area accommodations. Obviously, short term rentals are seasonal, so you don’t stay booked all year round. The good part about that is – you can spend some time using your own place. The “off season” is not really bad at all!
Here’s a list of the companies that handle short term and golf rentals :
Long Term Residential Rentals
It is possible to rent your home or condo on a long term basis for 6 months to one year. Pinehurst and Southern Pines are not known for high rents primarily because homes and condos are still very affordable. So, while the rental market has always been fairly brisk and you can count on being able to rent your property, you have to be realistic about the amount of rent that you are likely to receive. Here are some average rental prices:
Rental Management Companies that handle long term rentals usually do not charge the same higher rates charged in connection with short term rentals – they don’t have to do the housekeeping and the job is not as labor intensive.
Here’s a list of the companies that typically handle long term rentals.
Golf Tournament Rentals
Pinehurst and Southern Pines play host to numerous golf tournaments each year. About once every 3 years, either the Men’s or Women’s US Open is held here. In addition, there are a lot of other very prestigious and widely attended events.
At McDevitt Town & Country Properties we do handle Tournament Rentals for both owners and renters. In many cases, we handle rental arrangements for tournament players, officials and media.
If you have a property that you would be interested in renting in connection with a tournament, or if you are interested in renting a home or condo during a tournament, please contact call our office.
Learn about Pinehurst NC 1031 Exchange.