Hamptons Mansion Rentals Get Snarled in State’s Pro-Tenant Law
- Rules prohibit collecting more than one month’s rent upfront
- Owners of lavish Hamptons estates rely on full-summer leases
Homes in Southampton, New York, U.S.
Photographer: Johnny Milano/BloombergNew York State’s sweeping tenant-protection law is causing headaches for Hamptons mansion owners who lease out their beachside spreads for the summer.
The new rules prohibit landlords from collecting more than a month’s rent upfront. That’s a problem in the Long Island resort towns, where homeowners rely on three-month rental contracts in the hundreds of thousands of dollars, paid in full ahead of the season.