Tale of Two Vacation Rental Properties

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Tale of Two Vacation Rental Properties

• By Dave Duty
• Property Valuation Specialist I
• North Carolina Department of Revenue
• Property Tax Division
• 2009 Advanced Personal Property Seminar
• Sheraton Hotel at Four Seasons, Greensboro
• Tuesday September 1, 2009

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Two Types of Rentals

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Introduction

• Haywood County Heroine-Judy Hickman
• A plan rises to the surface
• Compliance sounds good to me
• Road bumps, pot holes, highways
• Using the teamwork approach
• Good times ahead!

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Chapter 1
Software Programs
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Software Programs

• New developments
• Easy does it
• Lets discover something

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Chapter 2

• Property Listing
• Forms

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Property Listing Forms

• Get the design team together
• Local yocals vs. out-of-towners
• Your forms and our form
• My dwellings are sanctified!

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Chapter 3

• The Real Property Folks

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The Real Property Folks

• A spirit of co-operation
• PI stands for Private Investigator
• Love your property record card

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Chapter 4

• Internet Heaven

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Internet Heaven

• Search engines, full steam ahead!
• Did you say virtual tours?
• Management companies are our friends
• Dont want no bugs, but I do want a nice yard
• Shocking aerial photos!
• We got healthy living here
• Treat me like hotels and motels
• Public utilities

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Vacation Rental Property

• Click on to watch a virtual tour!

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Chapter 5

• Love Letters

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Love Letters

• Letters that get your attention
• Strategies for professional contact
• Mass mailing
• Speaking discovery letter language

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Chapter 6

• Appraisal and Collection

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Appraisal and Collection

• Just bring in your check book!
• Collections are either up or down
• What appraisal approach will you use?
• So many schedules and percentages!

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Chapter 7

• An Appealing Situation

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An Appealing Situation

• Lay some Latin on me, baby!
• Get a grip on that appeal
• Taking it to the board
• Got any case law on ya!

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Summary

• Adding It All Up

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Summary-Adding it all up

• What a great success!
• Adding revenue to the bottom line feels good
• Lets spread out the tax burden to all
• A strong compliance program-recap

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Bonus Section

• www.vrbo.com
• Vacation Rentals By Owner

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VRBO is Vacation Rentals by Owner
North Carolina USA Vacation Rentals by Owner
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About the Author

• Modest
• Best selling author
• Good Looking
• Helpful
• Cary Resident
• Family Man
• Did I say good looking?
• Kind to animals