It’s already time to work on the paperwork for NEXT summer!

If you are planning to offer your Avalon or Stone Harbor home for rent in 2024, it makes sense to get an early start.

With the renewal of current listings, I am including the following note (a version of a previous blog post):

Summary of the 2023 rental season:

In the fall of 2022, we were busy confirming the 2023 reservations for repeat tenants. These are the families who return year after year (often to the same home) and are not hesitant about planning almost a full year in advance.

Yet for many tenants, it’s more practical to commit to vacation dates after discussing with family members over the winter holidays. After January, we expect rental inquiries to ramp up to fill in the open weeks.

Unfortunately, 2023 was different.

After years of travel restrictions, summer vacations could now be defined with a broader view. 

So was the lower demand in 2023 a blip? Probably. The nostalgia of a traditional beach vacation remains strong.

However, property owners should be aware that pricing is a factor with vacation decisions. Tenants expect value for their hard earned dollar. We need to face that head on as we discuss rates for 2024.

And one last note: the rental market is rarely in sync with the sale market. It’s two different business models. There have been many years when rental rates remained steady, while property values climbed considerably.

I’ve been fortunate to handle Avalon and Stone Harbor vacation rentals for 40+ years. As always, we will adapt and move forward together.

ann.delaney@tksir.com or 609-967-7950