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Winston-Salem

North Carolina

Short Term Rental FAQs for Winston-Salem, North Carolina.

How restricted are short term rentals in Winston-Salem?

Light Restrictions

Does Winston-Salem,North Carolina have any regulations for short term rentals?

remit occupancy tax

Does Airbnb automatically remit taxes for short term rentals in Winston-Salem?

Currently, Airbnb is collecting and remitting taxes on behalf of the host.

What are the city taxes for Winston-Salem

North Carolina State FAQs

Is North Carolina a judicial or non-judicial state?

Non-Judicial

In a non-judicial foreclosure state, the lender does not need to go through the court system in order to foreclose on a property. This process can be quicker and less expensive for the lender compared to a judicial foreclosure.

As a real estate investor, it is important to understand the differences between judicial and non-judicial states because it can affect the amount of time and money it takes to foreclose on a property. It can also impact the availability of properties that are being foreclosed on and the process of purchasing those properties.

What is the process of closing on a property in North Carolina?

Attorneys or lenders may handle closings, and corporate agents issue title insurance. Conveyance is by warranty deed. Deeds of trust with private power of sale are the customary security instruments. Foreclosures are non-judicial, with a 10-day redemption period following the sale. The entire process takes between 45 and 60 days. North Carolinians use ALTA policies, but these require an attorneys opinion before they’re issued. Buyers and sellers negotiate the closing costs, except that buyers pay the recording costs, and sellers pay the document preparation and transfer tax costs. Property taxes fall due annually on the last day of the year.

Property Taxes in North Carolina?

Annually on the last day of the year.

In North Carolina, does a property management company require a real estate broker's license?

YES. Key components of property management (leasing and renting) are considered real estate activities under existing North Carolina real estate licensing laws. If a property manager is going to lease, rent, or list, or offers to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.

Are there any exceptions to the requirement that a property manager have a broker's license in North Carolina?

YES. For example, on-site managers and salaried employees of real estate brokers working for property owners are exempt if their employment is limited to certain activities, such as showing units to prospective tenants, accepting application for lease of the units, accepting security deposits and rent (when they are payable to the property owner) and accepting lease applications. Such employees may not negotiate security deposits, rental payments or leases. For more information about these and other North Carolina property management requirements and exceptions, please contact the North Carolina Real Estate Commission. Before hiring a property manager to manage your North Carolina rental property, you should always check that he or she is licensed appropriately. You can check the license status of North Carolina property managers at the North Carolina licensee database.

Do you need a broker's license to manage community associations in North Carolina?

There is no requirement that a community association manager or condo association manager in North Carolina hold a real estate broker's license.

Real Estate Broker Requirements

Real Estate Salesperson Requirements

How do property ownership transfers work in ?

Warranty deed

Sustainability Resources

The Real Estate industry is one of the most environmentally damaging industries in the world accounting for:
30%
of total carbon dioxide
40%
of all energy
40%
of all raw materials
Our goal is to give you the resources you need to take sustainable action in improving, building, retrofitting and revamping your home. The impacts are real, the benefits significant, and the need critical. Join us in bringing sustainability home and creating a brighter future for all, starting with you.

Save money and do the world a favor!
Here's a list of Sustainability Initiatives in the area:

Database of State Incentives for Renewables and Efficiency

DSIRE's incentive and policy search tool allows you to search energy incentives and policies by state.

Ecobnb: Sustainable Accommodations

Ecobnb is a platform for eco-friendly rental opportunities and renters to connect and thrive together.

Faucet Aerators

Faucet Aerators can help conserve water by making faucets low-flow, but are better than caps because they release water evenly.