Some rental agents are trying to spread the word about attractive deals for properties that are available on Cape Cod during the fall shoulder season. This contemporary home on Cross Street in the Mashpee village of Popponesset usually rents in the summer for $6,000 a week and now is available for $2,500.

Following a disappointing summer when reservations for some rental properties were off by as much as 25 percent, Cape Cod agents are trying to draw more visitors by promoting discount rates that are still available during the fall shoulder season.

Taking a cue from airlines and hotels, Cape Cod rental agents are getting “creative” and offering deeper discounts than they have in the past. “We’re pushing the discount,” said Jamie Regan, owner of Century 21 Regan Realtors in Mashpee Commons.

Rents typically drop by about a third after Labor Day. But this year, rental agents and properties owners have been more flexible and willing to negotiate rental rates and terms throughout the spring and summer, according to Regan.

A harsh, snowy winter followed by a rainy spring, along with the economic slump and the Iraq war, all combined to hurt vacation rentals on the Cape, according to those in the industry. “That threw us into a sort of rental whirlwind,” said Regan, who also described the situation as the “perfect rental storm.”

The bad news for property owners translated into good deals for summer vacationers and even better deals for people wishing to vacation on the Cape during September and October when the weather cools off and the large crowds and headache-inducing traffic diminishes.

One lucky vacationer was recently able to rent a home near the ocean for the month of September at a rate that is typically charged for only a week’s rental, said Regan.

In recent weeks, Regan and other real estate agents have appeared on New England Cable News and radio shows in Providence and other cities in the region to promote the fall season and draw more visitors to Cape Cod.

‘Good Deals’

Regan points out that the shoulder season – which stretches from after Labor Day through Columbus Day weekend, and some might say even extends to Thanksgiving – can be particularly attractive because visitors can enjoy a variety of seaside festivals and fairs on the Cape – activities often designed to take advantage of cooler weather and capture the interest of tourists once the prime beach day are gone. This weekend the Bourne Scallop Festival will take place. Last weekend the Harwich Cranberry Festival drew thousands, and the weekend before the Rotarians Rodeo at Barnstable County Fair Grounds in Falmouth and an arts fair and parade in Eastham attracted crowds.

“We try to have events for people to enjoy during the shoulder season,” said Regan, who noted that there are more festivities planned for the season than during the height of the summer.

“It’s a beautiful time of year to be here,” said Mary Fritz, manager of the rental division at The Real Estate Co. in East Orleans.

But Fritz said while many people are coming to the Cape to enjoy fall festivities, most are usually staying for the weekend at hotels rather than opting for weeklong rentals. And many property owners also don’t want to rent their homes for only two or three days, explained Fritz.

“There aren’t a lot of calls coming in for the fall rentals but there’s good deals to be had,” she said.

Fritz, whose office handles over 400 rental homes in Brewster, Orleans, Harwich and Eastham, said rentals were a bit off in July but picked up in August. Business was actually up by about 5 percent for the entire summer season, according to Fritz.

Peter McDowell, owner of Peter McDowell Assoc. in Dennis, said he’s not aware of any “unique” marketing efforts currently taking place. McDowell said rental rates drop by a third after Labor Day, but this season property owners are willing to negotiate even further.

Real estate agents haven’t had too much difficulty convincing property owners to slash rents. “The market was much softer and people were willing to negotiate and did,” said McDowell.

Regan said that most rental agents have been “upfront” with property owners and explained that demand was lower this year.

“Some landlords have fixed expenses,” said Regan. Those property owners are more likely to negotiate “because something’s better than nothing,” he said.

Henry J. DiGiacomo, chief executive officer of the Cape Cod & Islands Association of Realtors, said he believes that in addition to the war and slumping economy, low mortgage interest rates have also hurt vacation rentals. With such low interest rates, some people who normally rent homes for months at a time on Cape Cod have found it affordable to purchase a home instead.

DiGiacomo said he knows a family from San Antonio who had rented the same home in Sandwich for years. But when it became available for sale this year, the family bought it, and he believes the affordable interest rates was an important part in the decision-making.

People who rent vacation properties on the Cape during the summer usually know that “if you don’t book by February, you basically have limited selections,” said DiGiacomo.

“But there has been an abundance of affordable places through the summer,” he said.

Aglaia Pikounis may be contacted at apikounis@thewarrengroup.com.

Economy, Reluctant Renters Give Cape Cod Cold Shoulder

by Banker & Tradesman time to read: 4 min
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