Log In   ·   Become A Member

Hamptons Rentals: Great Deals In June, Amagansett Dunes Is Hot, Short-Terms Popular

John A. Viteritti

If Jay Gatsby was to have a home on the North Fork - this would be it. F. Scott Fitzgerald-era bayfront Grande Dame overlooking Greenport Harbor and Shelter Island. Listed for rent Memorial Day through labor Day for $100,000 with Joan Bischoff van Heemskerck, Executive Sales Manager, North Fork and Shelter Island, Town & Country Real Estate. (Courtesy Photo)

When you examine at the rental market across the East End of Long Island, specifically the Hamptons and the North Fork, you can't help but notice that the 2014 rental season is off to a strong start. This rise in rentals speaks to the overall strength of the market and the recovery of the financial systems. We spoke to professionals on both forks to uncover the trends and the market nuances that make real estate the foremost topic of conversation.

"Each part of our Peconic region has its own wonderful characteristics. Visitors now look at both sides for a great summer getaway," says Joan Bischoff van Heemskerck, Executive Sales Manager, North Fork and Shelter Island, Town & Country Real Estate. "On the North Fork, better rentals are being taken real fast. Conventional thinking is that a great selling season as we had in 2013 takes many rentals out of the market. Not so in our experience. On the North Fork we traditonally have fewer rentals which are being met with increasing demand because of the farm to table, bucolic lifestyle so many visitors are looking to be part of. South Fork beaches remain a trade-off against North Fork vineyards and farms. T & C is experiencing a hustling and bustling market on both sides."

Situated on a high point with beautiful views, this gracious home on 2.3 acres offers 6 bedrooms and 7 baths including an attached 2-bedroom carriage house. Listed for a year-round rental with Nancy Grady, Associate Broker, Brown Harris Stevens of the Hamptons, for $195,000. (Courtesy Photo)

Nancy Grady, Associate Broker, Brown Harris Stevens of the Hamptons, says that she's seeing an "up-tick in pre-season rentals. People are taking May and June and getting a great deal. I even rented my own house for November, December, and January to people who wanted who wanted to spread out over the Holiday Season instead of staying in their apartment. July is also gaining in popularity as opposed to the traditional August." But when is the best time to rent? Grady explains, "I have always thought that July is the best month and people seem to be discovering that. The days are longer, the weather is better, and everyone is just in a better mood. By August, the crowds and summer burnout set in."

"More and more, renters want to be close to town, not way out in the woods. Pools and central air conditioning are must-haves. Child-proof pools are important," Kenneth Meyer, Salesperson, Douglas Elliman says. "Many of our tenants are families. Amagansett Dunes is a number one destination. It is the most affordable 'walk to the ocean' location on the South Fork. Montauk has experienced major growth over the last several years."

Originally built at the turn of century, and once part of the Maidstone Club, this home has been totally modernized and features 4 bedrooms with accompanying 4 bathrooms. Listed for rent by David Zazula, Salesperson, Halstead East Hampton, for he summer season for $395,000. (Courtesy Photo)

David Zazula, Salesperson, Halstead East Hampton, is looking forward to an active rental market this year telling Hamptons.com, "I am receiving calls and emails almost constantly, both from repeat customers and from new customers. So are the owners. I think there will be an increase in the in the longer term or full rental season. Prices are up slightly from last year. Most renters are looking for the usual amenities: central air, heated pool, Wi-Fi, clean, tchotchkes-free, close to town and/or beach, some kind of lawn area, and, if they have children, a child-proof pool is very important."

"There is virtually no supply of year end rentals under $3,000 a month that are decent," says veteran real estate agent Martha Gundersen, Associate Broker, Brown Harris Stevens of the Hamptons. "On the high end there are several $200,000 to $400,000 Memorial Day to Labor Day that have been taken. I have a very high rental that has $2 million in décor, art, and furniture. It has been received well. Also, there are many houses that are renewing last year's leases."

Built in 2007, this 4 bedroom, 4.5 bath modern home in North Haven is complete with heated gunite pool with spa and tennis court. Listed with Martha Gundersen, Associate Broker, Brown Harris Stevens of the Hamptons, for $200,000 from Memorial Day to Labor Day. (Courtesy Photo)

Shawn Steinmuller, Associate Broker, Nest Seekers International, reported to us a record January in terms of rentals, "Many people renting early and many tenants taking the same house for the season."

"Landlords and real estate agents tend to prefer Memorial Day to Labor Day rentals, while consumer demand today definitely has a very short-term component - as short as weekends," says Joan Bischoff van Heemskerck. "Beds & Breakfasts are mostly booked solid. Wedding guests are looking for hyper short-term rentals. In today's life-style, packing up for the entire summer is for a very few only. Now it is easier to work from your summer residence and the commute is so easy between the North Fork and points west, we see weekenders take full-season rentals and making use of the casual affordability of the North Fork."

One final thought with respect to children and pools, certificates of occupancy, fair housing laws, and insurance, these are crucial issues about which landlords, tenants, and realtors should seek counsel from appropriate professionals before becoming involved in the rental market.

Magnificent 5 bedroom, 3.5 bath, Post Modern home with pool and a heated hot tub is a short distance to ocean beach and just minutes to the center of East Quogue. Lsite for August with Shawn Steinmuller, Associate Broker, Nest Seekers International, for $25,000. (Courtesy Photo)

John is a St. John's University graduate, licensed Real Estate broker, lecturer, teaches real estate license classes at LIU, NYU, and Cook Maran Real Estate School, and is a well-respected consultant to the real estate industry. www.johnaviteritti.com

Related Articles:

Be the first to comment on this article. (Just fill out the form below)

Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest.
To submit your comment as a member, please click here.
Your Name:
* Comments will be reviewed and posted in a timely fashion
* All fields are required
What color is a firetruck?
(For spam prevention, thanks)
Gary R. DePersia, Corcoran Real Estate
With over $2 billion in transactions on the East End and since 1995, Gary DePersia is consistently ranked among the top producers in the Hamptons. A year-on-year member of The Corcoran Group President’s Council, he has qualified as a national list maker since 2007. In 2008 he was Corcoran's top broker on the East End by sales volume and rental units; and ranked as the nation’s 4th top broker. In the 2017 REAL Trends & The Wall Street Journal list of America’s top real estate professionals, he was designated #26 nationally, #4 in the Hamptons and #3 at Corcoran overall by volume with nearly $200 million of transactions for the past year. His office operates with four licensed assistants allowing him to build a business stretching from Southampton to Montauk and Sagaponack to Shelter Island. gdp@corcoran.com

East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

Advertise on Hamptons.com - Have your business be seen by over 2 million viewers including NEW searches
Hamptons.com- Our exclusive online magazine has 2.6 million Page Views YTD for 2015. Contact us to join our elite group of clients that benefit from having a presence on the Hamptons award winning publication www.Hamptons.com

Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices from the best flooring manufacturers — and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968

Southampton Masonry-Visiting the Southampton or the Wainscott locations is an exciting experience.
Southampton Masonry has been serving Long Island's masonry and tile needs since 1975. Delivering quality products from Manhattan to Montauk for over three decades. The company's continued success is due primarily to their number one priority: customer satisfaction, with a promise of prompt and courteous service from the professional, knowledgeable staff. Southampton Masonry has the largest inventory on the east end. As direct importers they can offer a large variety of the finest quality products at the most competitive pricing for both your interior and exterior projects.

RJD Gallery specializes in contemporary art with a focus on Magical, Figurative Realism, Narrative Portraiture and Urban Landscape.
We exhibit representational artists from around the world, who produce fine art of exceptional quality that challenge collectors to contemplate concepts about the artist, themselves, and our human experience. Utilizing timeless techniques in creating their drawings, paintings and sculptures, our artists have developed unique, signature styles that present a current vision of our world.

CP Complete- Landscape Design & Construction
Paul Guillo And Chris Hall Two Of The Most Respected Names In The Community Together, they are partners in CP Complete. They bring their years of experience and integrity to creating and renovating luxury backyards.

CP Complete- Landscape Design & Construction
Paul Guillo And Chris Hall Two Of The Most Respected Names In The Community Together, they are partners in CP Complete. They bring their years of experience and integrity to creating and renovating luxury backyards.