Vineyard Rental Market Stays Strong
After a long, cold winter, Vineyard property owners are getting some welcome news: people are still willing to pay thousands of dollars a week to rent homes on the Island in summer.
“I’d say it’s just as strong as last year,” said David Cron, a partner at Island Real Estate in Vineyard Haven.
At Tea Lane Associates in West Tisbury, broker Mary Jo Goodrich also reports a strong market, with rents staying about the same.
“We are about on par with where we were last time,” said Judy Federowicz of Coldwell Banker Landmarks in Vineyard Haven.
“The places that have kept their rents in a good place, who have repeat tenants, they are pretty much fully booked,” said Ann Floyd of Sandcastle Realty in Edgartown. “The houses that are renting the best are the ones that have stuck with the same rents for a year or two.”
Vineyard rental agents report that property owners have been able to ask for and get the same rents that they were charging last summer. Those rents usually range from about $1,200 a week for a small house with no special amenities to $25,000 a week for a large house with ocean frontage.
