Does Lewes have high vacation rentals during summer? (renters, hotel)

[miper70]

Looking for a quaint, walkable, coastal town to buy a home. We will probably rent out majority of the time so need to make sure there is a want/need for it.

[Mary2014]

Lewes is definitely a quaint, walkable, coastal town. Were you planning on renting weekly, monthly, for the beach season or during the off season?


Weekly during July and August there is high demand. Slightly less demand in June and September.


October - May a furnished rental is usually offered for rent on a 3 month, 6 month or 8 month rental (the longer the rental the lower the cost per month). Less than full year rentals attract traveling nurses and people who have retired and need a short term rental while they are in the process of buying a home. Higher demand if you are willing to rent to someone with pets.


Less than full year rentals in off season (in my experience) usually include a certain amount to cover cable, internet and utilities. So, it might be for example 900 per month plus $300 to cover utilities, telephone, TV and internet (rather than have all these things put in the renters name for just 3 months). If tenant exceeds the $300 allowance per month for utilities there is an extra charge at the end of the rental period. The same place during July and August could rent for $1200 - $1500 a week.


So, you can see it makes a big difference as to when you intend to rent out your home as well as the length of the rental period.


Also, in Lewes, short term rentals are subject to a 5% rental tax. So, you also see rental rates that say plus 5% tax.


This is based on what I see for 2 or 3 bedroom rentals. Places that have 5 or 6 bedroom might be in demand during the height of beach season, but, I expect very little if any demand during the off season.

[nuts2uiam]

To answer your questions, Mary has done a great job. I will only add one thing. There are TONS of rentals as we live in a beach community. I live in Rehoboth not Lewes, but be aware that you need to be cautious as your rental may or may not rent depending upon where it is located, cost, amenities etc.

[longneckone]

Mary has covered it completely. However working in an area hotel I might also add cover your self completely with deposit or whatever for damage/extra cleaning fees.