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Brokers have been busy in the waning weeks of summer as those working remotely in New York City seek rental properties in the suburbs in advance of winter weather or a potential second wave of COVID-19.
Many New Yorkers with jobs in the city have been instructed they may not be returning to the office through at least next summer due to the pandemic, prompting them to seek out temporary rental homes in suburban areas.
According to a New York Post report, many have looked to Long Island and other suburbs in New York and Connecticut, while some are heading to the West Coast or Florida, where some rental properties are going for upwards of $125,000 a month.
The report also found that those looking to the Hamptons, are now seeking yearlong rentals, as opposed to the traditional summer properties, some of whom are looking to enroll their children in local schools amid the pandemic, leading to a hike in prices by owners of the properties.
A real estate broker said that many landlords are putting up their properties for the first time due to the lucrative nature of trying times, the report states.
“They’re putting very high prices on the off-season because they know people will pay to be here.”
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