Personal Finance

Web Extra: Negotiating Summer Rentals

OTM Web Extra: Negotiating Summer Rentals

Whether you’ve got a summer home to rent or are shopping for one, it’s a new market out there. Dolly Lenz of Prudential Douglas Elliman has these tips to bring both parties together at a fair price:

1. As an owner, have flexible show times. Do your best to accommodate prospective tenants’ schedules for viewing. Flexibility is also key when it comes to time period. Summer rentals are no longer assumed to be Memorial Day to Labor Day. You may have to split the season up this year and rent in segments due to an overflow of inventory on the market.

2. As a renter, consider a share – they aren’t just for rowdy college kids. Nowadays families are joining forces to share a summer rental in order to cut down on costs.

3. As an owner or renter, offer or ask for an extra week or two before or after the prime summer period. For owners, giving away a free week is better than not closing the deal at all. For renters, you have the market on your side to look around and bid houses against each other.