Hamptons landlords are lowering summer rental prices to bring in renters during the recession. A six-bedroom home on the beach in Noyac that was listed for $200,000 last summer is now asking $150,000. Brokers say less expensive places that have previously rented for $70,000 or $80,000 are now $10,000 cheaper. And with rental inventory up, renters are making offers 20 to 30 percent below asking prices, according to the Corcoran Group’s Susan Breitenbach.
Hamptons rental prices falling
February 19, 2009 08:57AM