CAR Reports Rental
Market Booming
BERLIN Rental companies
affiliated with the Coastal Associ-
ation of Realtors (CAR) are report-
ing a boom in resort area rentals.
"We are absolutely seeing an
increase in our rental market,"
said Pat Terrill, Rental Manager
for Prudential Pen Fed in Ocean
City. "Prudential Rentals are up
28% over last year and if some-
one is looking for a year round
rental, there are no vacancies and
a waiting list 10 deep."
Vantage Resort's Chris Jett
said so far this year the recent
trend of last-minute booking is not
playing out.
"Our phones are ringing off the
hook," said Jett. "I noticed a trend
that the usual renter has been
booking later and later each year
but this year they will be surprised
with the lack of selection because
of this new influx of people."
Jett and Terrill reported an in-
crease in prospective renters from
New Jersey as a result of last fall's
devastating hurricane. Terrill shar-
ed that the families coming in from
New Jersey are looking for large
properties to accommodate big
families.
"The inventory in New Jersey
offers eight-bedroom homes," said
Terrill. "Ocean City, Md. does not
offer many of those types of prop-
erties on the beach. So what the
families are doing is renting sever-
al units in a building or area to ac-
commodate the group that is com-
ing in."
Conversely, Ocean County,
N.J. Board of Realtors CEO Mary
Ann Wissel reported a decline in
renter interest this spring.
"Mother Nature was quite se-
lective with where she chose to
devastate and where she spared
when she hit us with Hurricane
Sandy," said Wissel. "It is not un-
common to see a completely pum-
meled beach front mansion in the
same town as a little bungalow on
cinder blocks that was untouched.
We are significantly down in our
rentals but we are stressing to the
public to reach out to local realtors
and find out what areas still have
properties available for rent."
The assumption that a trip to
the Jersey Shore is out this year
ended up being good news for the
Maryland rental market, confirmed
CAR.
"Our members are busy with
both rentals and sales. Activity is
strong and investors are seeing
the value in the market," said
Sheila Dodson, CAR Executive.
Jett advised prospective rent-
ers to act quick on booking their
summer vacation.
"People need book now if they
want a space, added Jett. "And to
put minds at ease I can honestly
say that there was no increase in
the rates because of the increase
in demand. Prices remain stable."
Top Company Agents
OCEAN CITY The Mark
Fritschle Group of Condominium
Realty, LTD recently announced
the company's sales, settlement
and listing leaders for April.
Top listing agents by unit were
Wayne Phillips, Dave Whitting-
ham and Bob Hammond.
Top listing agents by volume
were Wayne Phillips, Bob Ham-
mond and Nick Bobenko.
Top pending sales by units
were Sheri Smith, Rusty Molnar
and Grant Fritschle.
Top selling agent by units were
The Greater Ocean City Chamber of Commerce officially welcomed the
new Rosenfeld's Jewish Delicatessen on 63rd Street to the Ocean City busi-
ness community with a ribbon-cutting ceremony this week.
Submitted Photos
Page 68
May 24, 2013
The Dispatch/Maryland Coast Dispatch
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