Hamptons summer rental season comes early
The 2012 Hamptons rental market is moving briskly -- so briskly, in fact, that Presidents Day weekend, which in past years has been the traditional start of the season, will be more like the middle of the season.
"I was showing rentals as early as October 2011 for the 2012 summer season," says Patrick McLaughlin, manager and licensed broker associate at Prudential Douglas Elliman in Sag Harbor. "The people who started looking early were the ones who were here in 2011 and didn't get the house of their dreams. They realized that to get that they'd have to start looking early."
Of course, there will always be properties available for those who can afford to pay more or for those who are willing to make certain compromises. Mala Sander, senior vice president and associate broker at The Corcoran Group, says those who got a jump on the market are more likely to get what they want.
"Some people feel they may want to wait, but then the pickings are slim," says Sander. "There's always something, but do you want to find the thing?"
This year's prices so far are relatively stable compared with last year's, so there may be fewer bargains than there have been in years past, agents say. "I think people walked out on good houses last year," says Tony Cerio, associate broker at Brown Harris Stevens in Bridgehampton. "They waited and waited, and they thought the longer they waited, the more likely owners were to lower their prices." That didn't happen, another reason why returning renters are jumping in early.
Certainly, there are some rentals whose prices have gone up this year. Sandcastle, Hamptons builder Joe Farrell's extravagant estate, is asking $25,000 more a week this year than last year, bringing its price up to a whopping $550,000 for a two-week rental. The average summer rental costs about $55,000 to $60,000 for the season (many may be available for shorter periods of time).
Here is a sampling of rentals still available.
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Sag Harbor $65,000
WHEN Memorial Day to Labor Day
WHAT Two-bedroom, two-bath cottage
AMENITIES This 900-square-foot house was built in 1929 and features a cathedral living room with a fireplace. Both the living room and dining room have views of the water. The main cottage includes one bedroom with a dressing area and bath, and there's a guesthouse on the property with its own bedroom, bath and sitting area.
ALSO The property has its own beach and dock.
CONTACT Cee Scott Brown, The Corcoran Group, 631-899-0119, ceebrown@corcoran.com
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Bridgehampton $80,000
WHEN Memorial Day to Labor Day
WHAT Three-bedroom, two-bath Contemporary
AMENITIES Enjoy a light-filled kitchen and tasteful, comfortable furnishings in this two-story modern home. Situated on an acre of lawn with gardens, the property includes a heated pool with a bluestone surround and a large deck.
ALSO Renters can walk to their own ocean access directly from the property.
CONTACT Myles Tintle, The Corcoran Group, 631-899-0349, mtintle@corcoran.com
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WHEN Memorial Day to Labor Day
WHAT Four-bedroom, 4 1/2-bath traditional
AMENITIES Built in 1970, this 4,000-square-foot, two-story cedar-exterior home has been completely remodeled. There's now a gourmet kitchen, and the living room includes a brick fireplace and a full basement. The den can be converted into a fifth bedroom, and there's a two-car detached, heated garage with its own half-bath.
ALSO The residence is on Sagg Pond and has a view of the ocean. There's also a heated pool on the 1.4-acre property.
CONTACT Gary DePersia, The Corcoran Group, 631-899-0215, gdp@corcoran.com