Jersey Shore Summer Rentals Are Going Fast, Agents Say
It could be the nasty winter New Jersey just experienced. It could be the fact that recovery from Superstorm Sandy can be felt and seen along the once-battered coast. It could be that people have more money to spend compared to years past. For some reason, the summer rental market at the Jersey Shore is booming ahead of the 2015 season.
Realty groups from Exit 98 down to Exit 4 on the Garden State Parkway claim business is significantly better right now compared to the same time last year.
On Long Beach Island, Maggie O'Neill with Mary Allen Realty said to date, their lease count is 9.25 percent higher than early April 2014. "We're looking forward to being completely booked by the time the season is in full swing," O'Neill said. "We still have availability, but we are booking briskly." On LBI, the first week in August is considered the prime week for renting property. Availability is dwindling more quickly for that particular week. According to O'Neill, rental prices are practically unchanged from last year.
Crossroads Realty, which handles Point Pleasant Beach to the southern end of Seaside Park, has had no shortage of rental calls over the past couple of months. The agency's Mary Cericola said the region's biggest issue after Sandy was a lack of inventory, but with a wave of new construction and renovated properties, business has picked up this year compared to last. "Since Sandy, we've seen tremendous recovery," she said. "Every day, things are getting better and better."
Some larger rental units in the Wildwoods are already booked for the entire summer. Joe Zarroli, owner of Island Realty Group, said they started booking for this year at the end of last season. "Demand has been up significantly," he said. "A lot of properties are drying up quickly." He said if this year is at all an indication of next year, wannabe renters should book early so they're not shut out.