Blazing Hot Summer Rental Market Lights Up Cape Cod

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WEST YARMOUTH, Mass. (WBZ NewsRadio) — Staying on the Cape this year will cost a prettier penny than usual.

A realty group on Cape Cod said prices are surging for rentals near the beach — in some cases costing $10,000-20,000 per week.

"Most people are saying they're seeing about 10-20% increases," said Ryan Castle, CEO of the Cape Cod & Islands Association of Realtors.

Castle said rentals started filling up earlier in the year than usual.

"Normally when people would be 60-70% booked for a summer, they were already getting 90, 95% booked by February and March," he said.

The situation is partially caused by the region's red-hot real estate market, Castle said. Many homes have sold to buyers that don't want to use them as short-term rentals, or who will be living in the houses in the summer.

Castle said renters are looking for more amenities this year, like central air, well-stocked refrigerators, and hotel-quality sheets.

WBZ's Kim Tunnicliffe (@KimWBZ) reports:

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