Shacks for $10K a month, bidding wars — it’s slim pickings for rentals in the Hamptons

The exodus of New Yorkers to the Hamptons means it’s damn near impossible to score a decent rental at an even semi-reasonable price, according to the New York Times.

One couple from Jersey City shelled out $10,000 on a May rental for what the Times calls a renovated fisherman’s shack on Davis Creek in Southampton Town. That’s going up to $12,000 a month in July.

Agents describe bidding wars and a dearth in available rentals. Some locals who typically rent out their properties are deciding not to this year. Rental laws passed by the state last year and coronavirus-related eviction moratoriums mean some landlords hesitate to rent because they can’t be sure they’ll be able to get tenants out. [NYT] — Dennis Lynch