Seems more rentals with major issues this year (2024)

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By: OceanBlue
7/10/2024 9:34 AM

Is it just getting posted more or are there more rentals that people are having major issues with this year - refrigerators not working, pool unusable, AC not working etc.
If i rented an already grossly overpriced rental for the week & had major stuff going on that doesn't get resolved, I would be freaking out.
Sorry, but a PM sort of shrugging it off & ignoring it would not be acceptable. And if they can't have enough staff to handle the problems, they shouldn't be taking on so many properties
Most people work hard all year to enjoy a week off. It shouldn't be ruined by a bad Property Mgmt co.

Ragging on the PM = shooting the messenger (the majority of the time)

If, say, that fridge is not working /sealing and the property owner says "NO...that fridge is fine, it's the renters/user error" to the PMs request for a replacement, then nothing happens

The best solution, as the seasoned folks on here know...is a long standing/returning year after year relationship with a cottage/owner/PM. Do your homework...not a true indicator, but many of the covid buys are now owned by folks that are "deer in the headlights" with the actual cost of upkeep for an OBX cottage. Folks sold sight unseen/no contingency cottages - often w significant issues - to new "we're gonna make some serious bank!" owners - many first time coastal owners.

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You always hear the bad news and never the compliments. PM's do sometimes fight with owners, but it's the owners house and they are boss. Our PM dept dropped several homes owned by some that don't care as much as the PM wished this year, I am sure others did too.

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By: colleen40
7/10/2024 10:02 AM

Could also be that a lot of the bigger multi family homes are owned by LLC's and investment companies and they are about the bottom line. Sometimes it could be just waiting on a part or replacement appliance and that takes awhile and can take up the majority of a week's stay. The Pm's responsibility though is to try to mitigate any issues so if AC breaks they bring over floor or window units. Fridge is broken then they bring a replacement fridge- dishwasher you are out of luck and really you can hand wash. Cleaning -house should be clean especially with cleaning fees.
It happens every season.

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By: OceanBlue
7/10/2024 10:36 AM

LLC's

I’m thinking ANY homeowner that has their cottage in any rental program anywhere runs it under the “protection” of an LLC?

If one “runs” their rental, “wide open” (no LLC) the risk of renter “JimmyBob” falling off your porch after consuming a 30 pack, and then filing suit because the railing was “loose” is real. You might end up caring for JimmyBob the remainder of his life.

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By: KDHBreeze
7/10/2024 12:23 PM

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The real weird thing is how so many refrigerators quit working on check-in days between one guest and the next. In fact, appliance failures happen 97% of the time on weekends. Sometimes the most horrible house one week is honky dory the next. As (Last) Resort Quest once said, "the essence of an Outer Banks Vacation is your attitude and the beach".

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LLC's

I’m thinking ANY homeowner that has their cottage in any rental program anywhere runs it under the “protection” of an LLC?

If one “runs” their rental, “wide open” (no LLC) the risk of renter “JimmyBob” falling off your porch after consuming a 30 pack, and then filing suit because the railing was “loose” is real. You might end up caring for JimmyBob the remainder of his life.

I am guessing but I see a lot of houses here for sale and have sold dozens and I would say maybe 30% of the time the owner uses an LLC or forms one after the purchase. Some do, most don't. Most PM's require the owner to have an umbrella policy, maybe that helps.

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I will say that in our home when we come down for 2 weeks in the spring probably a good 1/2 of my vacation is repairing or lining up service calls for maintenance or repairs.

I owned a vacation home in the mountains of Va. for 30 years. I say "vacation home" because my wife and I were the only ones that vacationed there. We spent a couple of weeks and 15-20 weekends a year there. Almost every... single... time we went up there, there was something to fix. It was non-stop.

I can't begin to imagine the upkeep required of a house that is a) at the coast and b) occupied ??% of the year by people with "not my house don't care" attitude.

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I will say that in our home when we come down for 2 weeks in the spring probably a good 1/2 of my vacation is repairing or lining up service calls for maintenance or repairs.

I owned a vacation home in the mountains of Va. for 30 years. I say "vacation home" because my wife and I were the only ones that vacationed there. We spent a couple of weeks and 15-20 weekends a year there. Almost every... single... time we went up there, there was something to fix. It was non-stop.

I can't begin to imagine the upkeep required of a house that is a) at the coast and b) occupied ??% of the year by people with "not my house don't care" attitude.

It’s work but it’s worth the effort. We self manage and rent through. VRBO.
We don’t accept every rental request and also reward repeat renters who follow the rules. It has taken a few years but it works out.

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I will say that in our home when we come down for 2 weeks in the spring probably a good 1/2 of my vacation is repairing or lining up service calls for maintenance or repairs.

I owned a vacation home in the mountains of Va. for 30 years. I say "vacation home" because my wife and I were the only ones that vacationed there. We spent a couple of weeks and 15-20 weekends a year there. Almost every... single... time we went up there, there was something to fix. It was non-stop.

I can't begin to imagine the upkeep required of a house that is a) at the coast and b) occupied ??% of the year by people with "not my house don't care" attitude.

It’s work but it’s worth the effort. We self manage and rent through. VRBO.
We don’t accept every rental request and also reward repeat renters who follow the rules. It has taken a few years but it works out.

I think that is the way to go and much more personal. When we rented our home, we had the renters phone number and we had back up companies that we had contacted to do work in case something went awry. The PM would contact us about the problem and we would call our back up company and discuss what needed to be done. We always stayed on top of it and didn't want the renter to be put out. I think with VRBO, you can just forget the PM business and get down to business with the vendors that you know and get the problems settled. And not have to pay the 20 percent or so for the PM. We're not idiots and can handle it ourselves. Wish we had done the VRBO the whole time since we were so much into it and practically handled it ourselves. I just hated it when the PM charged us for bee spraying at $75.00 a shot in September when the guests complained about the bees when we didn't even rent it in September. We only rented June, July and August. Hmmmmmmn

Edit: and the $200.00 "covid" fee in April of 2020. We never had our place for rent then. They said it was for the extra calls made then. We never got that credited back to us even though I ranted about it. That was our last summer renting forever.

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By: colleen40
7/11/2024 7:09 AM

I misspoke. When I mentioned a LLC I was thinking about a multi owner investment property, not an individually owned property. Although single owners can be a problem. An oceanfront owner asked me for advice on his property 6 bedroom- they were angry because they bought in the height of the market (2006 maybe), overpaid and even though the house rented nearly every week for years so they were making money back they would not put a penny into the house. The house was very beaten down to say the least.The PM kept asking them to update/fix but it was a no go from the owner. The PM finally got the owner to buy a new couch. Just a couch when I tell you much more was needed.I will point out that the weekly rental rate was cheap for a 6 bed oceanfront with pool-so you got what you paid for. The owner sold after that season.

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Is it just getting posted more or are there more rentals that people are having major issues with this year - refrigerators not working, pool unusable, AC not working etc.
If i rented an already grossly overpriced rental for the week & had major stuff going on that doesn't get resolved, I would be freaking out.
Sorry, but a PM sort of shrugging it off & ignoring it would not be acceptable. And if they can't have enough staff to handle the problems, they shouldn't be taking on so many properties
Most people work hard all year to enjoy a week off. It shouldn't be ruined by a bad Property Mgmt co.

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By: rodanth3
7/11/2024 10:04 AM

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By: OceanBlue
7/11/2024 11:14 AM

Social changed the game. Years ago, renters had no avenue to vent other than a call to the PM. Now its multiple FB groups, this board et al to vent and shame.

No more broken fridges than in years past, just more visible to the masses.

PE is creating equilibrium in the world purchasing everything that can be purchased - vacation homes, medical practices, storage facilities, etc. Having young finance bros running PE groups owning many homes to consolidate expenses has a cost. The lack of care is one of those costs. Renters can vote with their feet and move on the Cape Cod, DE, SC, or FL.

What the bros are doing on the Cape is beyond comprehension....so if anyone thinks they can save money vs OBX, it's not happening. Heck, one place we know just hit $100K for a week.

As to LLCs and the "protection" afforded vs "not"...it's not just a "big corp" thing...a single cottage owner can get wiped out financially when the "wrong renter" enters your place, injures them selves (through your "fault") and sues ya.

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"they are not calling Manteo furniture and getting a service call in a day or two"

Or a new unit delivered and installed the next day like our friends in Ocraco*ke. The renters called the PM who got it okayed and the new one was in the next day. They knew it would fit because it's what they already had from Manteo Furniture.

"GE Electric Stacked Laundry Center with 3.8-cu ft Washer and 5.9-cu ft Dryer" (26.75" W)

EXACTLY.
We had a refrigerator that had a front water/ice dispenser that would just rust under the dispenser. We refinished it every year for a few years and finally the wife got tired of looking at at and we bought a new stainless steel fridge from Manteo and when it was delivered they had already put notes that due to the width of the upper door into the house from the under stairs they would have to remove the doors and hinges to get it into the house. They had put the notes in for the service call from back in 2008 when that fridge had been delivered. I do not complain about the price when you get service like that.

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Another kudo to buying from a local appliance dealer - our new dishwasher developed a leak in the tub while under warranty from an overtightened screw. The manufacturer help line said just replace the tub. Local dealer said nope, brought us a new dishwasher and sent the old one back to the mfgr. The swap took less than an hour. Removing all the workings from the old dishwasher and putting everything onto a new tub would have taken multiple hours.

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"they are not calling Manteo furniture and getting a service call in a day or two"

Or a new unit delivered and installed the next day like our friends in Ocraco*ke. The renters called the PM who got it okayed and the new one was in the next day. They knew it would fit because it's what they already had from Manteo Furniture.

"GE Electric Stacked Laundry Center with 3.8-cu ft Washer and 5.9-cu ft Dryer" (26.75" W)

EXACTLY.
We had a refrigerator that had a front water/ice dispenser that would just rust under the dispenser. We refinished it every year for a few years and finally the wife got tired of looking at at and we bought a new stainless steel fridge from Manteo and when it was delivered they had already put notes that due to the width of the upper door into the house from the under stairs they would have to remove the doors and hinges to get it into the house. They had put the notes in for the service call from back in 2008 when that fridge had been delivered. I do not complain about the price when you get service like that.

Shhh, Alexy. Next thing you know private equity will buy up Manteo Furniture.

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