Hatteras Island Cottage Rental Rates 2009

[Steve in Mass]

Okay, what's the deal here? .....

Seems the major rental places have a new policy this year - no security deposit, no reservation fee, no this fee or that fee, you pay the weekly rate and sales tax and nothing else........

BUT.........the rental rates have gone up dramatically (which more than offsets the old fees). . For example, the place we stayed last June was $745 a week, plus 12% tax, and a $75 reservation fee from Colony. This year for the same time frame it is $922 a week plus 12% tax, no reservation fee.

Other cottages have similiar increases, and also cottages from OBR as well.

Seems to me with the poor economy and all the crap that is happening in Hatteras with the beach closures in the summer for the stoopid birds, that rates would be the same or LOWER than last year.

What gives?

[jellybear]

Dang if I know Have you looked into the other Realty places to see if they have gone up too?I can check and let you know later.

[savfish]

If my math is correct, the house went up $100.00 per week. The cost of doing business has gone up across the board, even more when you live on an island. Those houses probably only rent for 30 weeks of the year at the absolute best - an increased profit of $3,000 to be split between homeowner and realtor. Those prices were probably set 6 months ago when gas prices were way up. Once a business has to cross the bridge to deliver/repair the price just went up. Some realtors are also absorbing some of the costs originally passed on to the homeowner to keep them in their programs. Hope you continue to visit because as you stated, until this consent decree bs is settled, that island will need all the help it can get.

[Steve in Mass]

Savfish - $177 a week, minus the $75 reservation fee that is no longer charged.....but, since we rent for two weeks, it actually went up $140 a week for us, as the reservation fee was $75 whether you rent for 1 week or 6............so that's a 18% increase......not to mention that the reservation fee wasn't taxed at 12%, whereas the $140 increase is......so it is closer to a 20% increase.

Not a huge deal, as we will still go (the cottage we rent is relatively cheap, anyway), but 20% in one year is quite a bit, especially considering the hard economic situation........

[Steve in Mass]

Jelly - we only checked OBR and Colony so far, on line. Haven't received any of the catalogs yet. Sun Realty and Surf or Sound usually don't have anything in our needs range (they rent mostly bigger, more expensive cottages). Only other one I would be checking is Midgett, but the last few years, they have lost a lot of cottages to other realtors, so their choices are quite limited.

Besides, we have been going to the same cottage for 4 years now, and aside for suiting our needs and being relatively cheap, the owner of the cottage has become a "friend" over the years, as he lives year round right behind the place we rent.....Derf knows him, and he also works (or used to work) at Franks and Fran's....his name is Bob F.

[John M]

you can check the houses online ya know.....

as for the rents, we had a house last week when I was in the office getting the keys they had a pay one price deal. No extra fees.......I didnt check it out though.

[jellybear]

I was going to reccomend Midgett but like you said,Stick with who ya know.

[dcast]

Steve...I received a flyer from Colony about their elimination of several fees, giving the impression they were reducing prices. Once I checked further, confirmed they only rearranged as you commented. I did express my disappointment with their 'new marketing strategy'......and suggest you do the same. It's my opinion that Colony along with several others will offer incentives as we get closer to 'the season', as the economy and beach closing will only be a deterent for large percentage of potential visitors .....I plan to wait and see. I've often found that the Realty companies cater more to the owners..........It takes both owners and renters for this to work, one without the other leaves both wanting........ Renters need to speak up!

[biggestsquid]

Gents,
I switched to Midgett to handle our cottage two years ago after our previous agency switched focus to the mega houses. They have done a great job for us and our renters AND our rates have not gone up from 2008. It is ocean front in Salvo - 4 bdrm with lockable 10 x 16 rod/tackle room under the house.
If you want a clean place with great beach access and views and not a lot of fancy extras you may be interested in my house. If you are heading there in the early or late shoulder seasons, prior to mid-May or after mid-October we can do something very nice on price.
I rented previously through another fishing website and just got too busy to keep up with that in the last few years but may consider again. Of course I prefer to keep prime fishing weeks of Nov-Jan for my own use. If you would like I can post a 1/07/08 43# striper and a 50" Thanksgiving '07 drum --- both caught within two miles of my house. Our guests receive a complete lowdown on fishing if they request. We also can send you with one of the best offshore guys on the banks.
Cheers,

[Fish4Fun]

I think that alot of these price increases are indicitive of the "investors" buying into NC beach property during the height of the real estate value run up. Look at Kinekeet shores! How many 2 and 3 mil houses are there now. Someone has to pay for all of this fine "development" I know several folks that have sold beach property that their family has owned for a long time for lots of cash. Those buying in have a much different cost basis than long time owners, and the properties demand more rent to justify the investment. The owners of your cottage may not have changed, but all of these factors influence the local rental rates.

[Mike D]

I won't waste words. I agree with what fish4fun said. Been going down for 15 years. Still a good deal but not the bargain the 8 hr trip once was.

• Higher prices
• More crowded beaches than ever
• Extreme beach vehicle access restrictions
• Surf Fishing sucks there July-Dec.

We actually may not go to OBX this year. I have 4 free US Air tics from freq flyer miles. May go to Mexico.

Originally Posted by Fish4Fun

I think that alot of these price increases are indicitive of the "investors" buying into NC beach property during the height of the real estate value run up. Look at Kinekeet shores! How many 2 and 3 mil houses are there now. Someone has to pay for all of this fine "development" I know several folks that have sold beach property that their family has owned for a long time for lots of cash. Those buying in have a much different cost basis than long time owners, and the properties demand more rent to justify the investment. The owners of your cottage may not have changed, but all of these factors influence the local rental rates.

[biggestsquid]

If you're going to OBX for surf fishing April-May-June and Oct thru Jan should be you choice --- when prices are actually very reasonable and crowds don't exist. While the surf fishing may get slow offshore fishing is almost always great.
If you want extended surf (land fishing) opportunities and want to stay in U.S. go to Florida. I doubt if there is anywhere else that has as many possibilities. It is a bit of a drive.
As for the excess of mega mansions on OBX ---- there is no doubt that many owners are in big trouble and quite a few spec homes are still owned by builders. The net effect ofthat sitiuation is to drive DOWN rental rates. For owners such as myself, 20 year old cottage - no mortgage, our cottages are coming back into favor for families who are NOT requiring 4-6 master suites, pool, media room. Our rentals have been excellent for the last two years but our peak rate is the same or less than it has been for the previous 4-5 years. Competition works for the renter.
I have no idea how the folks with the huge cottages pay for them without 30+ weeks of rental. Many of them build them being told 30 weeks is typical --- while it is more like 20 for most. That bubble has burst on OBX but it is still agreat fami9ly vacation spot if you like the seashore without a lot of windowdressing.
I'm headed down this month --- will send back pics of my stripers.
Cheers,

[savfish]

I still think the rental houses are pretty good deals. The offseason/shoulder season rates are incredible and can be had during some great weather. What alot of people do is go in with 2 or 3 other family members/friends and split a house. $1500 - $2000 per family/3 families and you can get a 5-8 bedroom house for the week in season. Plus the $ you save by having a full kitchen is perfect for families imo. I am paying $2000 for 7 nights for a single room at a disney resort in a month and that was a good deal.

Mike D - surf fishing sucks here july - december . Compared to what? While every year is different, if you change species and tactics the fishing can range from okay to off the charts good in that time frame. Now if you said the surf fishing sucks jan and feb I would have to agree with you.

[Mike D]

Originally Posted by savfish

Mike D - surf fishing sucks here july - december . Compared to what? While every year is different, if you change species and tactics the fishing can range from okay to off the charts good in that time frame. Now if you said the surf fishing sucks jan and feb I would have to agree with you.

I would put the NJ surf and inshore fishing up againts OBX from June thru Dec. any day of the week for stripers, blues, flounder and weakies. I know you can get a big red if you put in weeks worth of nights in the sand and a big cobia on an eel if you have a boat fish for days and of course off shore rocks for big game fish. I've done all of that in the last 15 years. I believe that the stripers bite in late Dec or Jan. down there but they are 3 miles off shore.

I think it's clear that surf fsihing from Kitty Hawk thru Ocracoke Island sucks 9 months of the year. When it's good, it is for a few days or weeks for drum and stripers. Proove to me I'm wrong.

[drumrun]

Proove to me I'm wrong.

Nay, the fewer people down here means more fish for me