Experts: Hamptons rentals going quickly

It's time to trade in those rain boots for flip-flops and get thee to the Hamptons quickly if you want to pick up a rental home for the summer season.

Judi Desiderio, president and chief executive officer of Town & Country Real Estate in East Hampton, says the 2010 rental season "started out with a bang" in January, followed by snow, then record rain, which slowed down activity. "It's all about the weather out here." But she says the market is back on track and "much, much better than last year . . . it's very healthy, with prices back to where they were in 2008."

In recent years, the Hamptons had seen an influx of European renters. Desiderio says that while Hamptons rentals are still drawing interest of customers from abroad, this year Wall Streeters with bonuses are definitely back. In particular, Sagaponack, which was hit hard by the collapse of Bear Stearns and Lehman Brothers, "is back with a bang," she says.

Jane Gill, vice president of Saunders & Associates, says that she's noticed an influx of new renters, such as families with children who are signing on for the entire summer, in both low- and high-end properties. "There's a financial comfort level that we haven't seen in a few years," she says.

So what's the hottest rental area in the Hamptons this summer? Gary DePersia, senior vice president of The Corcoran Group, says that there is no one "must-have" locale. "Everyone has their own idea of what the Hamptons experience is . . . some people want to be close to the ocean ... others want to be close to a major village with shopping, restaurants and nightlife."

The beach, he says, is no longer the main reason many people gravitate to the Hamptons. "Some people would rather rent properties with pools and tennis courts and hang out at home," he says. DePersia says.

Here's a sampling of some great rental properties still available this season:
 

SOUTHAMPTON: $750,000

WHEN Memorial Day to Labor Day

LOCATION Southampton, Village estate area

WHAT Norman Jaffe-designed oceanfront on 2.3 acres

AMENITIES Seven bedroom, 6 1/2 baths with stone terrace, pool and hot tub, pool house, tennis court and private walkway to seaside patio. Upstairs master suite features oceanfront balcony and fireplace.

ALSO The property also is available at $600,000 from July to Labor Day, or $300,000 for July, or $400,000 for August to Labor Day. Or rent for the full year at $1 million.

CONTACT Daniella Alvarez, Brown Harris Stevens, 631-903-6116

SAGAPONACK: $550,000

LOCATION Sagaponack South

WHAT Waterfront home on 1.1 acres on Sagg Pond

AMENITIES This 6,000- square-foot, six-bedroom, 8 1/2-bath cedar-shingle-style home was built in 2007 and was decorated by interior designer Steven Gambrel. The home overlooks Sagg Pond and also affords distant ocean views. There are six fireplaces, a gunite pool and pool house with sauna, 8-foot hot tub and screened-in porch. There is a two-car garage with an exercise room above.

ALSO The property is available for a full year at $650,000.

EXCLUSIVE LISTING AGENT Ross Salt, The Corcoran Group, 631-899-0308

WATER MILL: $300,000

WHEN Memorial Day to Labor Day

LOCATION Water Mill horse country

WHAT Tucson-style villa on 8.5-acre horse farm

AMENITIES 10,000-square-foot, five-bedroom, 5 1/2-bath villa decorated with six fireplaces, a pool, a tennis court, a gym with a squash court, riding rings and paddocks. Real estate agent Jeff Steinhorst says the owner donates all rental proceeds to the Charna Radbell Foundation, which benefits a wing at New York-Presbyterian's Morgan Stanley Children's Hospital.

ALSO The property is available during July for $150,000 and from August to Labor Day for $150,000.

CONTACT Jeff Steinhorst, who is marketing the property for Brown Harris Stevens, 631-901-2165

NORTH HAVEN: $95,000

WHEN Memorial Day to Labor Day

LOCATION North Haven, on the bay

WHAT 4.5-acre estate with 400 foot of bay waterfront on celeb-studded street

AMENITIES This 3,000- square-foot, four-bedroom, three-bath traditional farmhouse has a beach cabana and a deepwater dock that can accommodate a 65-foot yacht. The Actor's Colony Road address means that your celebrity neighbors would include actor Richard Gere and musician Jimmy Buffett.

ALSO The property also is available for $45,000 in July and $50,000 in August.

EXCLUSIVE LISTING AGENT Richard Kudlak, Prudential Douglas Elliman Real Estate, 631-379-3570

BRIDGEHAMPTON: $55,000

WHEN From Aug. 20 to Labor Day

LOCATION Bridgehampton off Ocean Road

WHAT 4,000-square-foot former home of architect Norman Jaffe

AMENITIES Jaffe designed this home - and lived in it from 1978 to 1989, says listing agent Maxine Hirt. The five-bedroom, four-bath canal-front house sits on 1.1 acres and includes a heated gunite pool, two fireplaces and a dock. It's two blocks from an ocean beach.

ALSO The property also is available for $95,000 for the month of July.

CONTACT Maxine Hirt, who is marketing the property for Town & Country Real Estate, 631-275-2233

EAST QUOGUE: $25,000

WHEN Memorial Day to Labor Day

LOCATION East Quogue

WHAT Georgian-style home on .61 acres

AMENITIES This 2,700-square-foot, four-bedroom, four-bath home - also on the market for $899,000 - was built in 2006 and has a fireplace, a kitchen with Viking and Jade appliances, and French doors that lead to the back deck. The master suite has a white marble bath with whirlpool spa and a deck. The home borders the village of Quogue, where local residents include celebrities like Michael J. Fox and Susan Lucci.

EXCLUSIVE LISTING AGENT Enzo Morabito, Prudential Douglas Elliman Real Estate, 631-288-6244