North Carolina § 42A-17 - Accounting; reimbursement.

§ 42A-17. Accounting; reimbursement.

A vacation rental agreement shall identify the name and address of the federally insured depository institution or trust institution in which the tenant's security deposit and other advance payments are held in a trust account, and the landlord and real estate broker shall provide the tenant with an accounting of such deposit and payments if the tenant makes a reasonable request for an accounting prior to the tenant's occupancy of the property. Except as provided in G.S. 42A-36, if, at the time the tenant is to begin occupancy of the property, the landlord or real estate broker cannot provide the property in a fit and habitable condition or substitute a reasonably comparable property in such condition, the landlord and real estate broker shall refund to the tenant all payments made by the tenant. A vacation rental agreement may include administrative fees, the amounts of which shall be provided in the agreement, reasonably calculated to cover the costs of processing the tenant's reservation, transfer, or cancellation of a vacation rental. A vacation rental agreement may include a cleaning fee, the amount of which shall be provided in the agreement, reasonably calculated to cover the costs of cleaning the residential property upon the termination of the tenancy. History (1999-420, s. 1; 2005-292, s. 1; 2012-17, s. 6; 2017-25, s. 1(c).) Effect of Amendments. - Session Laws 2012-17, s. 6, effective October 1, 2012, added subsection (d). For applicability, see editor's note. Session Laws 2017-25, s. 1(c), effective June 2, 2017, in subsection (a), substituted "federally insured depository institution or trust institution" for "bank or savings and loan association."