Rental properties hard to find in storm-struck areas of N.J.
November 9, 2012By Phil Gregory
The devastation along the New Jersey coastline from Superstorm 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.
While demand for rentals is high, the manager of the Weichert Realtors office in Brick Township 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," said Realtor Fran Graffeo. "The majority of the phone calls I'm hearing now are that there just really aren't any left."
She says Realtors are trying to find rentals farther inland.
"Especially the older folks that qualify to go into adult communities," Graffeo said. "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 even if it's just for a short time."
Graffeo says some of her colleagues in the office are looking for rentals themselves because the storm destroyed their homes.