What is a fair rental price to pay for a 3BR house on Martha's Vineyard?

Answer 1

My friend has one for 1850 per month. For Cape Cod and the Islands, that is a reasonable rental. Summer rentals are usually in the neighborhood of one or two thousand per week (depending on location). Landlords generally jack up the price in summer to squeeze as much money as possible out of the tourists; winter -- or "off-season" -- rentals are lower, as a rule. The Vineyard is exceptionally pricey, being the playground of the rich and famous, so 1850 per month is a real bargain. Winter rentals tend to be reasonable because of reduced demand but unless one has a year-round lease, expect to pay more in summer. I have a cousin who owns a house in Mashpee (on the mainland) -- she rents her house for three months in summer, which is enough to cover her annual mortgage payments. She gets something like a thousand per week renting to tourists. Her house has a water view. It isn't much of a view, but if you can see a glimpse of water through the foliage, expect to pay a lot.