Realtors prepare for summer rentals post-Sandy - NBC40.net

Realtors prepare for summer rentals post-Sandy

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OCEAN CITY -

With temperatures below freezing, the warmth of summer is a welcomed thought as people begin their search for summer rentals.

But local realtors say that this year, following Hurricane Sandy, they're running up against one problem.

"We don't have the supply for the demand we have. Especially this time of year, good tenants rent early. We did a lot of rentals before the storm then people started renting in December and January," said Gigi Gallagher Rosenberger of Marketplace Realty.

Staff at Marketplace says people are still looking to rent this summer but the rebuilding effort in the wake of Hurricane Sandy has slowed the rental process as many properties attempt to meet the new building code standards.

"Well its affecting business in the fact that it's slow. It's busy, but it's slower getting to a settlement," said Gallagher Rosenberger.

Staff at Prudential Fox & Roach Realtors has also seen the rental process slow down but expect business this summer to make a full recovery from Sandy.

"Now they're starting to rebuild them back up. Certainly as most people know, its getting their insurance money and things like that have slowed it down a little bit but we anticipate most of our properties will be up and running by Memorial Day when our season starts," said Mike Allegretto of Prudential Fox & Roach Realtors.

Because Ocean City avoided the major destruction seen at beaches further north, some realtors are hoping vacationers from North Jersey may look further down the coast for their summer rental this season.

"We are seeing some new people that we may not have touched before looking to vacation in ocean city," said Allegretto.

"I know the town partnered with Cape May County and we're doing advertising in North Jersey to let people know we are up, ready, and recovered."

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