Introduction
Successful Vacation Rental Investments
North River Properties (NRP) specializes in building, remodeling and maintaining successful investments in vacation rental beach houses. It is all about each property profitability, and sustained value. The premise is simple. A higher attention to details of the property, and guest satisfaction, results in higher revenue, and higher appreciating property values.
A profitable vacation rental investment begins before starting construction of a new beach house, or any renovation on an existing. During construction the focus on obtaining a lucrative investment is more about building quality, and longevity, than keeping down costs. Of course, all three are factors, but when the beach house is finished and ready for first guests, their job at NRP is just beginning. Quality counts in the beginning, and every day going forward.
Everyone involved must understand the standard. There is a dedicated staff, and a long-established group of sub-contractors. Maintenance and cleaning crew must be taught that what was acceptable at previous properties, is not the way here.
The Last 30 Years. Past 15 years Most Important
The current direction of North River Properties started to evolve around 2010, at a time when the older principal family members had already been involved in Outer Banks beach house construction and vacation rentals for almost 20 years. Managed by Gary Woodson, a licensed general contractor, and real estate broker, his degree is in accounting. With over 20 years of experience in Outer Banks real estate and construction, they understand the key to vacation rental success, having themselves owned more than 15 beach house rental properties.
Their business model has always been focused on extended involvement in the beach houses they build. But back in 2010, the question was posed, what if they never let a new beach house build fall below the first day “like new” condition. Would renters recognize the effort? Would they pay extra to know they are coming back to the same standard every time, even if to a different property in the investor group? Today, 15 years later, NRP mandate is refined and clear. Assist owners in operating and producing the best possible revenue and market value for each specific beach house.
Establishing New Standard In Beach Houses
A growing population of guests is seeking “like new” properties. The result is more revenue, with a property sustained to a higher standard of condition. NRP knows they will be called weekly by guests and owners for years after construction. Their training of maintenance and cleaning staff requires these people to only work on their investor group properties. Their standards are so high it is impossible for staff to intermingle with lower standard properties and maintain the standard in the investor group properties. Their process begins in planning a new build, or remodel and continues indefinitely.
To further raise the bar across more properties, North River Properties is sponsoring the Certified Grade Program in partnership with the Outer Banks Home Association. This initiative brings together high-quality properties managed by various property managers. The association’s certificate rating featured in property manager listings serves as an effective marketing tool, helping travelers identify “like new” beach houses. By searching available vacation rentals on the association website across all certified properties, guests can avoid confusion and confidently select rentals that meet their high standards.
Crew Is Most Important
It is an extended family directly involved. Wife Rebecca has been involved since inception, takes house revenue, and guest experience as a personal reflection. Daughter Merritt, and son Finley, have been involved since their teens, each returning after college. Many staff and sub-contractors with 10yrs plus relationships.
For direct inquiries, please contact Gary Woodson at gwoodson@obhoa.com or call 252-473-7240.
