Nearly all businesses are connected in some way to real estate. The National Association of Home Builders estimates that nearly three jobs are created with each newly constructed home. Additionally, the National Association of Realtors estimates that one job is created for every two existing home sales.
Since its inception in 1999, the Community Preservation Fund (CPF) that covers the East End towns of Southampton, East Hampton, Riverhead, Shelter Island, and Southold have collected approximately one billion dollars. The CPF is a 2% tax on nearly all real estate transfers, paid almost exclusively by the buyer. With this CPF money all East End towns have preserved many sensitive and scenic properties with the objective to protect the environment as well as the beauty of our area. Preserving the beauty preserves our land values.
With every East End home sold several ancillary services are called in such as decorators, painters, landscapers, and more. These new homeowners visit our shops and restaurants and contribute to our local economy.
To pay it forward and connect our summer renters more closely with our vibrant community at T&C we provide every tenant with a rental gift bag. Beyond being a great beach tote, the bag is packed with exclusive invitations as well as coupons and certificates for local wineries, restaurant flyers, information on exercise classes, and other local activities. We give these out in an effort to get our new neighbors out of the back yard and into the communities.
2016 should be a great year for summer rentals!