Sandy Devastation Causes Big Demand For Rentals
By Phil Gregory, WBGO News
Brick Township. November 8, 2012
The devastation along the New Jersey coastline from Hurricane Sandy is causing a big demand for rental properties.
Many people whose homes were severely damaged or destroyed by the hurricane are looking for a new place to live.
Fran Graffeo is the manager of the Weichert Realtors office in Brick Township. While demand for rentals is high, she says it’s hard to find available units.
“Some of the municipalities are really good about allowing us to get people in quickly and avoiding a lot of red tape, but the problem we have of course is lack of inventory. The majority of the phone calls I’m hearing now are that there just really aren’t any left.”
Graffeo says realtors are trying to find rentals for them farther inland.
“Especially the older folks that qualify to go into adult communities we’ve truly been able to place a lot of people into those units that were maybe vacant and on the market and trying to get some of the sellers to open up their for sale homes for rent event if it’s just for a short time.”
Graffeo says some of the people who work in her office are looking for rentals themselves because the storm destroyed their homes.