It’s Not Too Late!!!
5 Steps to Getting into a Summer Rental Now
In any other year, you’d have made your plans in February or March to make sure you got the time slot and the property you wanted for the warm weather months. But this year was different, and many paused their summer rental property search. Now that things are looking better, some are now considering starting their search now, but are unsure if they are too late.
They’re not.
If you want a rental from mid-July until mid-August, for example, you may still be successful. In other words, there’s no need to take a rental keyed to a particular calendar month — landlords will be more willing to accommodate your schedule. Also, at this point, you’ll have more choices (and better pricing) than in past years. “Usually, as the summer goes on, you get less and less choice. But we’re seeing new inventory come on as COVID restrictions lift elsewhere and owners who expected to stay home are now planning international travel — meaning more homes are becoming available,” said Benjamin Dixon of The Mackay Dixon Team at Douglas Elliman. We asked him what the savvy summer renter-to-be needs to do now.
Know Exactly What You Are Looking For
“How exactly do you envision your rental? There are so many options,” Dixon said. “Do you want to be close to a village, within walking distance of restaurants? Or do you want privacy and space? Do you need a pool? A tennis court?” Once you define your vision, you’ll be able to narrow the available openings and focus only on the ones that meet your needs, leading to a shorter and more successful search.
Get to Know the Neighborhoods and Villages in Your Target Area
If you don’t know the area well, explore! Go for a drive. Take virtual walking tours via YouTube and Google Earth. Read the local media. Know the landscape of the social scene and to which demographics and cultures local businesses and events cater. Whether you are looking for fine dining, art galleries, paved bike paths or fenced dog parks, know your preferences and make sure your desired locations have exactly what you want. Never assume.
Understand the Costs
In some areas, your summer fees will include more than just the rent. And taking on the extra costs for your must-have amenities may be worthwhile. “For most summer rentals in the Hamptons, for example, the tenant pays all the expenses on top of the rent, which can include all utilities, pool maintenance, and landscaping,” noted Dixon, who has rented more than a million dollars worth of homes in the Hamptons for the summer season on behalf of his clients. “Know your budget and plan accordingly so there are no surprises.” Your agent will be able to lay out the typical expenses attached to your preferences, so you can decide which options you most value and are willing to pay extra for and which you can do without.
Yes, Do Your Own Research, but Work with a Licensed Real Estate Agent to Make Your Hunt More Efficient — and Fast
“It’s been such a busy year that a lot of the public web sites are out of date, so a licensed real estate broker can save you valuable time in getting to what is actually available,” said Dixon. Perusing the public listing sites is a good way to get a general idea of the quality of housing stock in each neighborhood you are considering, but it also represents a potential time sink for you; it may also lead you to investigating already-rented properties. Especially in this fast-moving season, you need up-to-the-minute information. Agents have current data to which the public does not have access. In addition, they know the properties and the owners, especially which ones are likely to be most flexible about dates: They can quickly connect you and your wish list to a rental that will meet your needs. “I’ve been working in the Hamptons for five years,” noted Dixon. “I’ve gotten to know many homeowners, and as such, I can easily pinpoint which properties work best for clients who have particular rental requirements.”
Know the Market and How It’s Changing
The gradual waning of the COVID pandemic has been positive for the domestic summer rentals market. In most years, the number of available properties decreases throughout the season, but not this summer. “Now that more overseas travel is opening up, we are seeing more inventory becoming available,” Dixon said. “It’s an interesting market dynamic that we didn’t expect.”
The best tip for those looking for summer getaways is to avoid getting discouraged. Considering these pointers can lead you to a property that you can enjoy.
