Hamptons owners find more competition for renters

TRD New York /
May.May 25, 2012 09:00 AM

Vacation homeowners in the Hamptons and NYC-area getaway communities are facing an increasingly competitive marketplace when it comes to renting out their homes, according to the New York Times, as new listings websites bring more prospective landlords to the market. A National Association of Realtors survey recently found that 22 percent of all vacation homeowners in the U.S. plan to rent out their homes, and that huge figure is being reflected in the growing number of listings on sites like HomeAway.com.

In the last four years the number of rental listings in the Hamptons rose to 750 from 270, in the Catskills the number increased to 520 from 304 and in Jersey Shore it jumped to 2,200 from 700. About 73 percent of these listings come from typical homeowners and not property management companies.

The increased competition is placing downward pressure on pricing, enriching the listing websites and making owners even more sensitive to online reviews on sites like Yelp.com. It’s also eradicating an agent’s main selling point.

“Real estate agents who want to sell you a house will tell you that you can make money off it,” said one vacation homeowner. “Well, I did 20 years ago, but I don’t anymore.” [NYT]


Related Articles

arrow_forward_ios
Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash

From left: 263 Surfside Drive and Ivan Kaufman with 901 and 939 Scuttle Hole Road (Credit: VHT Studios, Arbor)

The 10 priciest Hamptons home sales of 2019

Clockwise from top left: Andrew Saunders of Saunders & Associates, Cia Comnas of Brown Harris Stevens, Nanette Hansen of Sothebys, Ernie Cervi of Corcoran, Marty Gleason of Corcoran, Ed Reale of Sothebys, Robert Nelson of Brown Harris Stevens and Theresa Quigley of Saunders & Associates

Take that, Zillow: Hamptons firms’ listings site goes live this week

Southampton home once owned by Mel Brooks and Anne Bancroft sells

Southampton home once owned by Mel Brooks and Anne Bancroft sells

Tri-State Promo

TRD’s Fall Tri-state issue drops soon!

Cee Scott Brown and Jack Pearson

A top Corcoran team in the Hamptons bolts for Compass

Harry Macklowe (Credit: Getty Images)

Macklowe’s brazen Hamptons act recalls Times Square scandal

Duke Long and Poshtel International CEO Morten Lund

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

arrow_forward_ios
Loading...