Hamptons market banks on short-term style=”c

New York /
Sep.September 20, 2010 11:45 AM

A home in the Hamptons

As the housing industry continues to bear the effects of the recession, the Hamptons rental market is evolving. While Hamptons vacationers used to commit to renting a house for the entire summer, the rental scene there has changed, as the Hamptons has become more of a year-round destination and landlords have begun to accept shorter-term rentals, while the Internet has enabled homeowners to list their properties online, where renters often search for short-term deals, the New York Times reported. “This season has been all about shorter-term rentals,” said Todd Matarazzo, who has listed his four-bedroom home in Sag Harbor on the vacation rental site HomeAway.com. “I had one family that took June, and since July 1, it’s been one week at a time.” Though last year Matarazzo had a renter for the whole summer and for September, his calendar for the fall and winter seasons is virtually empty, except for two weekend bookings in September. The number of Hamptons properties listed for rent on HomeAway.com increased 56 percent between 2008 and 2010, to more than 470 homes. [NYT]

 

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