You are wise to consider other factors in building a successful rental property here in Cape May. While the owner focuses on the location, occupancy number and time of the year in setting the rate schedule, the consumer is looking for a property that does not have any less amenities than at home and if those amenities are not a part of everyday life...they are required when on a vacation.The Cape May experience being closer to town and the charm of a Victorian is generally the request for a visitor who has never been to Cape May. Once the rental search criteria is discussed, many will opt for clean, modern loaded with upgrades.For those that come to Cape May regularly, the call is for updated property along with close proximity to the beach realizing that you can walk to town so easily. The City provides a trolley shuttle into town easily accessible from points in the East End.
As you position yourself to enter the market it is critical to work through the details with a Realtor to insure you have worked through all the factors in building a successful rental property and making good business sense. Please know I am here to assist and willing to share my professional talent and skills to assist you in achieving your goal.
Patricia Gray Hendricks
Cape May County Association of REALTORSÂ® (CMCARÂ®) 2011 REALTORÂ® of the Year
CRS, GRI, ABR, RSPS, SRES & SFR
Wilsey Realty LLC.
Director, Cape May County Association of Realtors
NJAR Education/Professional Designations Committee
Cape May County Association of Realtors Education Committee Co-chair
NJAR Circle of Excellence 2010 & 2012
Second would be number of bedrooms.
New house is nice but people renting in cape may would prefer renting an older home with old time cape may charm but still with modern conveniences. That doesn't mean newer homes will not rent, just an older home with modern conveniences holding that old cape may charm will definitely demand higher rental values and lots of appeal.
3-4 bedroom home would rent $3000 to $4000 per week. on avg. and more depending proximity to beach and down town. Cape May is very desirable for vacationers. It has become increasing more popular with both young and old vacationers, still maintaining its family values.
Century21 Gilmartin & Co.
The rate will be determined as you have noted, by the proximity to the beach and newness of the home,...As well as amenities included.
Our agency has had success in renting premier properties in the East End of town.
Please call me directly to discuss further at (609) 513-0355
deSatnick Real Estate, LLC