Brokers and officials lament rise of Hamptons web rentals

Short-term rentals cut into lucrative broker fees and violate local regulations

TRD NEW YORK /
Jun.June 30, 2014 06:30 PM

Some Hamptons home owners are ruffling feathers by renting their properties through websites such as Airbnb and HomeAway, an uncommon practice until recently.

The entrepreneurs are not only crossing neighbors concerned about a revolving door of lodgers, they are breaking laws that limit short-term rentals, the New York Times reported. They are also putting a dent in the lucrative business of brokering one- or two-month summer rentals, which can go for six-figures.

Teresa Euell of Town & Country told the Times that brokerage’s Montauk office had seen almost no rentals this year, while Josh Keeshan estimated his brokerage business was 25 percent of what it was three months ago. Brokers have reported that bargains for Hamptons rentals are hard to find this year, giving landlords the upper hand.

Homeowners in East Hampton are only allowed to rent their properties for periods of less than two weeks twice every half a year, according to the Times. Rules also govern how many unrelated adults can occupy a home.

The town has taken measures to curb the illegal rentals, such as launching a website where residents can report violations, the Times reported. [NYT]Tom DiChristopher


Related Articles

arrow_forward_ios
From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)

The Airbnb crackdown continues: City targets three more buildings

Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash

Mayor Bill de Blasio and Stanley “Skip” Karol, an Airbnb host (Credit: Getty Images and Youtube)

Airbnb host narrowly clears hurdle in First Amendment claim against city

Ken Griffin and Calvin Klein’s Hamptons compound (Credit: Getty Images, Google Maps)

Ken Griffin in contract for Calvin Klein’s Hamptons compound

Airbnb CEO Brian Chesky (Credit: Getty Images, Airbnb)

Airbnb, once profitable, lost $322M in 9 months

Zach and Cody Vichinsky of Bespoke Real Estate (Credit: Getty Images)

Hamptons’ Bespoke Real Estate and former employee tangle over trade secrets

Chris Coleman and Mickey Drexler's former property at 8 Old Montauk Highway

Saunders’ No. 1 agent Chris Coleman jumps to Compass

Harvey Hernandez fights back against Airbnb

Harvey Hernandez fights back against Airbnb

arrow_forward_ios
Loading...