Summer Rentals for 2015 ... An Action Plan - Ocean City, New Jersey
Here is a primer for potential rental tenants interested in renting shore property next summer (2015) ... what you need to know.
As we get closer and closer to Labor Day, and the end of the summer rental season; the question is: "what happens next?"
1. Many rental tenants book their week or weeks for the next year before they leave
the shore this year.
2. Many rental tenants have changes in the number in their rental group, location, rental rate, etc. Many also try to book their week in another rental property before they leave for the summer.
3. The real estate agencies that rent are now in the process of contacting rental owners for 2015 rental rates, changes in the rental units, etc. All of this information has already started to go into the rental agency web-sites. This will continue for about two months, maybe longer.
4. The September through early November time frame is often a busy one for rental tenants who want to book "the right property" before that particular week is not available due to some other rental tenant taking it.
5. There is a break in the rental activity from mid-November through early January of the new year. Mostly, the rental activity slows down quite a bit.
6. In the new year for two or three months, the rental booking continues. Rental tenants must be aware that "the major rental weeks" from mid-July through mid-August will be the first ones to slowly book up.
7. From about mid-April through early summer, we have the late rental tenants trying to find appropriate rental units ... some get lucky and get what they want, others must make adjustments in order to get anything.
8. Working with a rental agent who knows the City of Ocean City, the rental locations, etc. makes things much easier for the rental tenant.
9. Coming down to see rental property ... which could be anytime from mid-September through mid-May is often a very good idea. But you must provide the rental agent with details so that the agent can help you make a good decision.
10. Avoid "the hit or miss" by moving along with the process, the earlier the better, with the right agent.
(Dustin A. Peters starts his 22nd year in real estate after a 32 year career in public education in Pennsylvania, including 17 years as a high school principal. Dustin is both a sale and rental agent with Goldcoast Sotheby's International Realty in Ocean City, NJ.)
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