Photo: Courtesy of Corcoran Realty
The Hamptons have always been a hot summer rental market.But this year, the biggest checks are being written earlier than ever, Jason Sheftell at the New York Daily News reports.
One developer, who rented a home to Jay-Z and Beyonce last August for $400,000, has already turned down a $400,000 offer for a similar home this year. And homes that regularly lease for $85,000 a month or more are moving quickly.
It’s not just the lure of the beaches, A-Listers, and parties that are driving the mad dash, according to Sheftell.
One reason for the rush of early offers is that there are fewer homes for sale out east. This means that people who want to summer in the Hamptons have to rent, which pushes rental prices sky-high.
Wealthy renters also want to minimize the hassle and stress of finding the perfect summer home, and the earlier they start their search, the more options that are available to them.
The bottom line: if you want to rent a house in the Hamptons this summer, start looking now and expect to shell out.
NOW WATCH: Executive Life videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.