Have a tough time finding a place to rent at the Jersey Shore this summer? Don't expect it to get any easier, as some experts believe it could get even more difficult in 2023.
Demand for next summer rentals is already surging, just as fall arrives — even while some are trying to take advantage of the good weather during the last official week of summer 2022, juicing this current season for all its got before colder temperatures arrive.
“We took advantage. Kids are in school — daughter's senior year, son’s a freshmen. Little guy got in school safely and we decided to come out and enjoy one more last beach day," said Keith Williams, of Williamstown.
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Many are apparently getting a head start on next summer’s vacation to the Jersey Shore, booking places to stay months earlier than they might have before the pandemic drove up demand.
"People have been making plans for 2023 since July. It continued through August and it still continues now," said Duane Watlington, who owns online rental sites for homes in Ocean City, Long Beach Island and The Wildwoods.
“A lot of people are securing the same property, same time for the following year," said real estate broker Douglas Grisbaum.
Grisbaum believes the demand for rentals is already higher for next year than it was this summer.
"I would secure my rental spot now," he advised.
Since the pandemic began, the amount of rental inventory in Ocean City has decreased. Grisbaum said it has shrunk even more for the summer of 2023, at least so far.
"We're seeing a lot of people that buy properties in Ocean City, other shore markets, that are keeping them but not renting them. They use it for second family home," he said.
Both Watlington and Grisbaum said to expect to pay a bit more in 2023, with rental rates already up about 5-10 percent.
"We're trying to tell everybody not to go too much. But you know, with everything else costing more, it costs more to clean the house, the rates are going up a little bit too," said Watlington.
