Short-Term Rentals (STRs) & Corporate Housing in Cary, NC: A Practical Guide for Owners and Investors

A carriage unit by the park

You own a carriage unit a few blocks from Downtown Cary Park—the new, 7-acre destination drawing regular programming in the very heart of town. You’ve noticed busy weekends, families in town for events, and friends asking whether you’ll list your place for short stays. Could an STR or 30–90-day corporate rental make sense here? The answer is “possibly”—if you weigh location-specific demand, Cary/HOA compliance, and realistic income math. carync.gov

This deep dive covers demand drivers (RTP, SAS, event calendars), Cary’s legal/HOA landscape, a simple pro-forma for income/expenses, a playbook for corporate stays, and a compliance checklist you can use before you buy—or before you go live.

Why Cary STRs and 30–90-day stays get clicks: the demand stack

1) Event gravity inside Cary.

• Downtown Cary Park runs a packed calendar in a walkable district; proximity here supports strong weekend demand and shoulder nights when there’s programming. carync.gov
  
  

• Fenton (Cary’s mixed-use lifestyle center) layers on seasonal activations—winter ice skating, pop-ups, markets—which keeps evenings lively and boosts “near Fenton” search filters. fentonnc.com+1
  
  

• Koka Booth Amphitheatre in Regency brings concerts and festivals; nearby homes can see spikes on show weekends. boothamphitheatre.com+1
  
  

2) Corporate rotation & project work.
Cary sits minutes from Research Triangle Park (RTP)—385+ companies, ~55,000+ employees—which fuels short assignments, onboarding stints, and project teams that prefer furnished 30–90-day options near I-40/NC-540. Research Triangle Park+1

3) Cary’s tech anchor.
SAS (HQ in Cary) remains a marquee employer and draws visitors, partners, and candidates—another steady source of weekday demand and longer corporate stays. Recent coverage still places SAS’s Cary workforce in the ~4,000–5,000 range. Axios+1

Bottom line: Walkability to Downtown Cary Park and Fenton, quick access to Koka Booth, and drive times to RTP/SAS are the location filters that actually move nightly rate and occupancy in Cary. carync.gov+2fentonnc.com+2

Legal & policy landscape: what’s allowed (and who decides)

State law governs the rental relationship.
North Carolina’s Vacation Rental Act (VRA) applies to residential rentals for fewer than 90 days when the tenant has a permanent residence elsewhere. The Act requires written agreements, outlines landlord/tenant duties, and sets rules for expedited evictions and handling of funds. If you run short stays, your process must match VRA requirements. ncleg.gov+1

Local government & HOA layers still matter.

• Town of Cary ordinances: Cary publishes its Code and Land Development Ordinance online. Cary does not prominently advertise an STR-permit regime like the City of Raleigh’s; third-party guides often say Cary has limited, if any, town-specific STR restrictions. That said, you must confirm the current text—codes change. Start by searching Cary’s Code portal and contacting the Town’s planning/zoning staff with your address and intended use. American Legal Publishing+2files.amlegal.com+2
  
  

• HOA/condo rules: Many Cary neighborhoods are governed by HOAs subject to NC’s Planned Community Act/Condominium Act. Rental caps, minimum lease terms, and use restrictions are commonly embedded in the declaration (not just board policy). Always read the recorded declaration/bylaws for the exact property you plan to rent—and verify there haven’t been amendments adding rental limits. FSR+1
  
  

Taxes you must plan for.

• Sales & use tax on accommodations: North Carolina taxes gross receipts from accommodation rentals at the state + local sales tax rate. (Marketplace platforms may collect/remit state taxes on your behalf, but you are responsible for accuracy.) ncdor.gov
  
  

• Wake County room occupancy tax: Wake imposes a 6% room occupancy tax on short-term accommodations (including Airbnb/VRBO), in addition to sales tax. Raleigh’s official hospitality tax page confirms the 6% rate applicable in Wake. raleighnc.gov
  
  

• 90-day exemption: Rentals to the same person for 90+ continuous days are generally exempt from sales/occupancy tax; tax collected prior to the 90th day must be refunded. (This matters for corporate housing.) NC DOR rulings and state resources reinforce the 90-day rule. ncdor.gov+2Sales Tax Institute+2
  
  

Key nuance: Many online “city guides” about STRs become outdated quickly. Treat them as hints—not proof. Always verify with the Town of Cary code portal and your HOA’s recorded declaration. American Legal Publishing

Where STRs/corporate stays tend to work best in Cary

• Downtown & in-town Cary: high “weekendability” thanks to Downtown Cary Park programming, Academy Street dining, and nearby arts—attractive for 2–4 night stays and visiting families. carync.gov
  
  

• Fenton/Regency corridor: strong draw for shopping/entertainment; Koka Booth events add spikes; close to US-1/64 and I-40 for RTP access. boothamphitheatre.com+1
  
  

• West Cary (Cary Park/Amberly/Green Level): attached new(er) homes with garages and easy NC-540 access play well for 30–90-day corporate rotations that want modern layouts and parking. (These are also the areas most likely to be inside HOAs—check rental rules first.)
  
  

Income & expense model: a simple way to underwrite

Revenue inputs (range, not promise):

• ADR (average daily rate): Driven by walkability (Downtown Cary Park/Fenton), bedroom count/parking, and calendar alignment with Koka Booth and park events. Build a calendar that highlights big draws; many hosts price up for event weekends. fentonnc.com+1
  
  

• Occupancy: Weekends near the park and Fenton often outperform weekdays; corporate stays (30–90 days) can smooth mid-week gaps.
  
  

Operating expenses (typical line items):

• Platform/merchant fees (Airbnb/VRBO/credit card).
  
  

• Cleaning/turnover (variable—more turns for 2–3-night stays; fewer for corporate monthlies).
  
  

• Utilities/internet/streaming (guests expect fast Wi-Fi).
  
  

• Supplies & minor FF&E (linens, cookware, replacements).
  
  

• Insurance (STR endorsements; higher liability).
  
  

• Local taxes (sales/room occupancy; verify if your platform remits both on your behalf). ncdor.gov+1
  
  

Capex & compliance reserves:
Budget for wear items and for HOA special assessments if you’re in an attached product; reserves matter to protect cash flow.

Corporate-stay overlay (30–90 days):
Expect lower ADR than 2–3-night STRs but higher occupancy and fewer turns. The 90-day tax rule is pivotal: the same guest hitting 90 continuous days generally triggers sales/occupancy tax exemption (and refunds for earlier nights); structure your lease and accounting accordingly. ncdor.gov+1

Operations best practices (to protect neighbors, ratings, and your sleep)

• Self-manage vs. co-host/PM: Co-hosts can optimize pricing and handle 24/7 calls; self-managing saves margin but requires systems.
  
  

• House rules & quiet hours: Cary’s residential neighborhoods expect low-key use. Noise-monitoring sensors (decibel only, no recording) and clear parking diagrams reduce complaints.
  
  

• Parking plan: List how many spaces, where guests may not park, and how to handle additional cars during events.
  
  

• Accessibility: Private homes aren’t subject to hotel ADA, but step-free access, lever handles, and well-lit entries will boost reviews and broaden demand.
  
  

• Linen & inventory standards: Corporate guests judge like business travelers; redundant linens and a stocked workspace help win repeat bookings.
  
  

Compliance checklist (use this before you invest or list)

Town & zoning

1. Confirm local rules: Search the Town of Cary Code and email Planning/Zoning with your address and intended use (STR vs. 30–90-day corporate). Keep written confirmation on file. American Legal Publishing
   
   

2. Accessory unit rules: If your unit is an ADU/carriage house, confirm it’s a legal dwelling and meets the Town’s minimum housing standards. carync.gov
   
   

HOA/condo
3) Pull the recorded declaration, bylaws, rules, and amendments. Confirm rental caps, minimum lease terms, parking limits, and any STR prohibitions. (In NC, enforceable rental limits usually live in the declaration.) FSR
4) Ask the manager for board minutes (12–24 months), current budget, delinquency rate, and any special assessments—these predict fee stability and resale risk.

Taxes & licensing
5) Sales & use tax: Understand your obligation on accommodation receipts (state + local), even if a platform collects/remits. ncdor.gov
6) Wake County room occupancy tax (6%): Determine if a marketplace remits for you; if not, set up monthly filings. Raleigh’s hospitality page confirms the 6% Wake rate that applies countywide. raleighnc.gov
7) 90-day exemption workflow (corporate housing): Adopt a policy to stop tax on day 91 and refund the first 90 days’ taxes to qualifying guests; align with DOR guidance. ncdor.gov+1

Contracts & money
8) Vacation Rental Act-compliant agreement for stays <90 days (key disclosures, cancellation, expedited eviction). Use a North Carolina attorney or broker forms. ncleg.gov
9) Trust-account handling (if a licensed broker manages funds) per VRA requirements.

Safety & property
10) Code-grade smoke/CO detectors, fire extinguisher, and a printed emergency sheet (address, nearest hospital/urgent care).
11) Egress & locks: Make sure bedrooms meet egress requirements; use keyed-deadbolt alternatives that allow exit without a key.
12) Insurance: Add a short-term rental endorsement (or a commercial policy) and raise liability limits; verify the HOA master policy for condos and pair it with your HO-6 appropriately. FSR

Neighbor relations
13) Introduce yourself to immediate neighbors and provide a 24/7 contact number. Preempt complaints with clear trash, parking, and quiet-hours guidance.

Data & performance
14) Build a conservative pro-forma (ADR, occupancy, platform/cleaning fees, utilities, taxes, reserves).
15) Track event calendars for Downtown Cary Park, Fenton, and Koka Booth to adjust pricing and minimum stays. carync.gov+2fentonnc.com+2

STR vs. 30–90-day corporate housing: which fits your address?

• STR (2–7 nights):
  
  

  • Best places: Downtown-adjacent blocks and homes with fast access to Fenton or shows at Koka Booth.
    
    

  • Pros: Higher gross on event weekends; great for 1–2 BR units near restaurants.
    
    

  • Cons: More cleaning/turnovers, higher neighbor sensitivity, and more calendar work.
    
    

• Corporate (30–90 days):
  
  

  • Best places: West Cary townhomes/condos with garages and modern layouts; quick NC-540 access to RTP.
    
    

  • Pros: Fewer turns, steadier income, easier on neighbors; potential tax advantage after day 90 with one guest.
    
    

  • Cons: Lower ADR; screening and corporate billing setup take time. ncdor.gov+1
    
    

Common mistakes in Cary (and how to avoid them)

• Assuming “Cary has no rules.” Some third-party blogs say no town-specific STR regs, but your HOA may ban or cap rentals—and the Town can update ordinances. Verify current rules each time. BNB Calc+1
  
  

• Ignoring taxes because a platform “handles it.” Platforms sometimes remit state sales tax; you may still owe Wake occupancy filings on direct bookings or for audit reconciliation. ncdor.gov+1
  
  

• Buying in the wrong micro-location. For STR demand, being walkable to Downtown Cary Park or a quick hop to Fenton matters; for corporate, garage parking and NC-540 access often outrank walkability. carync.gov+1
  
  

Where a Cary realtor adds real value to an STR/corporate plan

• Address-level feasibility: We’ll run a zoning/HOA check, read the declaration for rental language, and confirm Town interpretations so you’re not surprised post-close. American Legal Publishing
  
  

• Micro-market underwriting: For STRs, we map walkability to Downtown Cary Park/Fenton and proximity to Koka Booth; for corporate, we prioritize garage townhomes, noise profile, and drive times to RTP/SAS. Research Triangle Park+3carync.gov+3fentonnc.com+3
  
  

• Compliance-first setup: VRA-compliant agreements, tax remittance plan, insurance endorsements, and neighbor-friendly rules—done right the first time. ncleg.gov+1
  
  

• Revenue management: Pricing around event calendars and corporate cycles, plus furnishing specs that score business-traveler reviews.
  
  

CTA: Get a Cary STR Feasibility Review

I’ll deliver a property-specific brief that includes:

1. Zoning/HOA vet (Town code citations + declaration excerpts),
   
   

2. A working pro-forma (ADR bands, occupancy scenario, fee/tax schedule), and
   
   

3. A ready-to-use Compliance Checklist (VRA agreement, sales/occupancy tax plan, insurance, house rules).
   
   

We’ll also layer in a demand calendar built from Downtown Cary Park, Fenton, and Koka Booth event schedules—so your launch catches Cary’s built-in momentum. carync.gov+2fentonnc.com+2

Quick reference links

• Downtown Cary Park (events & overview). carync.gov
  
  

• Fenton events (seasonal activations). fentonnc.com
  
  

• Koka Booth Amphitheatre (concerts/festivals). boothamphitheatre.com
  
  

• RTP community overview (scale & employers). Research Triangle Park
  
  

• NC Vacation Rental Act (state rules for <90-day stays). ncleg.gov
  
  

• NC DOR: rentals of accommodations (sales tax). ncdor.gov
  
  

• Wake County occupancy tax (6%) (county hospitality tax info). raleighnc.gov
  
  

• Cary Code portal (verify current ordinances). American Legal Publishing
  
  

If you’d like, I can convert your carriage-unit idea into a complete go-to-market plan—pricing, photos, house rules, and tax setup—so you launch confidently and compliantly.

Ready to discuss your real estate needs? Contact Be Sunshine Realty Group Brokered by EXP today for a confidential consultation. Call (919) 583-6895 or visit www.livinginraleighnow.com to connect with Raleigh Triangle's most trusted real estate team.