I have many customers who every season around this time ask, "Why aren't my summer rental weeks booked up yet?"
I thought some ideas from a local Realtor may be helpful for current homeowners who rent and buyers who are looking for a good investment property.
The first thing I do want to mention is that our rental market has not suffered through these hard times. Many of the vacationers that love Ocean City always find a way to come back. Our rental numbers have increased every year, despite the struggling economy.
When I say this to people, they often say, "Well, how come my property is not fully booked then?"
Many tenants through these harder financial times have, in fact, waited for the last minute in hopes of negotiating a deal. So we have seen many homes with numerous weeks available up until the last few weeks. They will come, just be patient and make sure your rates are competitive.
I asked around and thought hard to come up with a few things that are important when it comes to what makes a tenant favor one particular home over another. If you want to catch some more attention from prospective tenants, take some of these ideas into consideration.
If you already own a rental property think about:
- Competing rates on similar rental homes
- Cleanliness
- Offering beach tags
- Getting wireless Internet
- Putting a TV in every bedroom
- Providing a BBQ grill
- Fully stocking the kitchen
- Supply them with beach chairs
If you are looking to buy an investment property look for:
- Proximity to the beach
- Deck/outside space
- Outside shower
- Off-street parking
- Storage
I have experienced summer tenants asking about many of these items. If you have anything that you have looked for in a shore rental and/or if you are curious about any other ideas that might help, please feel free to comment!
(Caroline Watts, Prudential Fox & Roach Realtors 200 34th Street, 609-254-4756, caroline@prufoxroach.com)
Joe
11:46 am on Thursday, April 19, 2012
Or offer SurfNet Weekly Internet rental as an option www.surfnetocnj.com
happycamper
11:47 am on Thursday, April 19, 2012
I was always told a landlord could not legally provide beach tags. Has that changed?
Newell138
5:39 pm on Thursday, April 19, 2012
stocking a kitchen? Seems a bit too unrealistic.
Caroline Watts
12:25 pm on Friday, April 20, 2012
Newell - Excuse me if I miscommunicated. I don't mean with food :) I mean with cooking utensils, plateware, pots & pans. The kind of things people need to entertain their family.
JennP
10:09 pm on Tuesday, April 24, 2012
As a renter, I have to say that - Although, I realize these are indeed rental properties, Please (owners) Don't throw ugly, old, uncomfortable furniture into the homes that I'm going to be paying 2000+ a week for. I've walked into potential vacation homes that are in a great location, but loaded with ugly, mismatched sofas + such + walked right back out. I'll take a tastefully decorated home in an ok location over a place with ugly floral furniture + old carpets any day.
happycamper
8:04 am on Thursday, April 26, 2012
Caroline--I was always told that a landlord could not legally provide beach tags to their tenants. Has this changed?
Caroline Watts
12:55 pm on Thursday, April 26, 2012
Hi Deb, I am sorry...I thought I answered your question on the 19th but it seems that it didn't appeared on the blog. The city asks that you not provide beach tags because it cuts down on their revenue. However, it is not a law and more landlords do offer tags than not.
Kerry Berk
7:21 pm on Saturday, May 19, 2012
The other things that some renters look for are bikes - both children's and adult, as well as a highchair and small portable crib.
Caroline Watts
11:19 am on Monday, May 21, 2012
Kerry, all great suggestions. Thank you for contributing!