leasing

Vacation Rental Act (North Carolina)

Chapter 42A governs residential rentals for vacation, leisure or recreation for fewer than 90 days to a person with a permanent residence elsewhere. Every vacation rental needs a written agreement with the statutory bold notice; it becomes binding when the tenant signs, pays money after receiving it, or takes possession after receiving it. Advance rent must be deposited in a trust account within three banking days, and before the tenancy begins the broker may disburse no more than 50% of total rent to the landlord.