It’s a good year for the Cape Cod rental market
Cape Cod realtors said business is booming this year, with summer home rentals up by 26 percent from last year in Provincetown alone.
You’d be hard-pressed to find a home to rent in Cape Cod right now.
Local realtors say 2015 business is booming, with summer rentals up by 26 percent from last year in Provincetown alone.
“People have more confidence in the economy and they’re spending,’’ said Brett Holmes, a sales associate for Kinlin Grover Real Estate.
Born and raised in Cape Cod, Holmes now lives in Provincetown, where he handles vacation rentals and residential sales for Kinlin Grover. In addition to a strong economy, Holmes attributes the boost in the Cape’s rental market to new inventory and the company’s marketing efforts.
“A lot of people are turning to agencies to facilitate the rental process,’’ Holmes said. “We had one person get scammed on Craigslist, so he booked a whole summer with us for $20,000.’’
Provincetown is home to some of the most expensive real estate on the Cape, Holmes added, saying the price of renting a small studio there could lease a three-bedroom home in Dennis.
Cape Cod is home to 15 towns, each with its own distinct character and unique attractions. It’s good to learn more about the crowds, restaurants, and beach scene before booking a stay.
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Here’s a glimpse of the 15 different Cape Cod towns:
If you’re interested in booking a home during the Cape’s busiest months of July and August, Holmes recommends scheduling a year in advance. (But current tenants get first dibs on renewing their stay for the following year.)
Summer rentals generally have a seven-night minimum stay, but if you want to rent in the off-season, Holmes said it’s possible to find four- or five-night options. Renting in June or September is also cheaper.
“Off season rentals are about 30 percent less than what you pay in August,’’ Holmes said.
A weeklong stay in a Provincetown studio in peak season costs about $1,400 to $1,500, Holmes said, while prices for popular “themed weeks’’ like Carnival (August 15-21 this year) will jump to about $1,800 to $1,900. For large luxury properties, rentals can reach upwards of $10,000 to $11,000.
Looking to buy your own home on the Cape? Boston.com can help with that. And if the Cape isn’t your cup of tea, check out what nearby Martha’s Vineyard has to offer.
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