Vacancy Signs Proliferate In Summer-Home Rental Markets

For summer-rental spots around the country, a number of houses sit vacant and owners may be ready to make a deal.

In some of the [tag]coastal reqions[/tag], it’s a [tag]renter[/tag]’s market. Sales inventory has more than doubled since 2004, says Louanne Woody, president of the Outer Banks Association of Realtors. Rental occupancy is down about 8% this summer, estimates George Volsky, a vacation-rental management-industry consultant in [tag]Avon, N.C[/tag]. Hatteras Realty, which manages 500 homes on [tag]Hatteras Island, N.C.[/tag], is about 88% booked for July and August, down from 90% last year. It’s offering incentives like complimentary charter-fishing trips and 20% discounts.

And in other popular vacation spots, large l[tag]akefront rentals[/tag] and homes with pools are nearly all taken, but four- and five-bedroom homes a block or two from the beach are available for about $3,000 a week. A smaller cottage inland can go for $1,000 a week.

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