Property Management
Under the NC Vacation Rental Act, a landlord/manager who retains advance rent payments and does not provide the rental must:
AOnly refund 50% as a cancellation fee
BRefund all advance payments unless the tenant cancels and the property cannot be re-rented✓ Correct
CKeep all advance payments as damages
DProvide a future rental credit
Explanation
If the landlord/manager fails to provide the vacation rental as contracted, all advance payments must be refunded to the tenant.
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