This is one of those blogs that is a little bit difficult to write because it’s about a local property management company that was closed by state regulators.
According to the North Carolina Real Estate Commission Nags Head Realty was ordered to cease operations because of concerns that there were inadequate funds in the company’s real estate trust fund. The money that is retained in the trust fund insure property owners are paid and those funds must be kept separate from the company’s other revenues until owners are reimbursed.
We don’t have all the details, but to take the action they took and to take it as quickly as they did, seems to indicate regulators were very concerned.
Here at Brindley Beach Vacations we are proud of how we take care of our owners. We understand that your home and the revenue it generates is an important part of your family’s financial security.
We are one of the most successful property management companies on the Outer Banks and there are reasons for that. We have excellent promotional tools to help property owners market their homes; our reservation staff is pleasant, knowledgeable and professional.
This is going to be a difficult time for many of the homeowners who had been with Nags Head Realty. It was a company that had been in business for more than 25 years and certainly a number of homeowners had worked with them for some time and were comfortable doing so.