As we move deeper into the 2015 rental season in the Hamptons, the market seems off balance, with many properties still unrented. Top producing agent Diane Shiffman of Rosehip Partners, feels the market may have overpriced itself, as opposed to suffering from slack demand.
Unfortunately there is no centralized data management of the Hamptons rental pool (which helps explain why often times prices for the same property differ from one realtor to the next.) The hard evidence supporting either a strong , or weak, rental season is elusive, especially in a market where supply has always been greater than demand.
One good measure? Calls from landlords voicing their concern that they haven’t rented yet, when in years past deals were in place by mid March.
Another one? The circulation among real estate agents of “courtesy rentals” and emailed “Still Available” reminders. The flow seems to be heavier this year than last.