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The 2011 SUMMER RENTAL ROUNDUP: SH, Water Mill Edition

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Hamptons rentals come in all shapes and sizes. To demystify the market, behold the 2011 Summer Rental Roundup! We're making stops from Southampton to Montauk, giving you seven rentals per destination as we crawl down 27. Up first: Southampton and Water Mill!

[Photo credits: VHT Studios]

1. Flying Point Road, Water Mill; Corcoran
The Price: $575K, MD - LD
The Skinny: This newly-constructed five-bedroom home takes oceanfront living to a new level. Why? Because it also includes frontage on Mecox Bay across the street. Perfect for jet skiing! Flexible leasing options ensure you can enjoy the oceanside pool, outdoor kitchen, and the impeccable vacation-ready decor exactly when you want to.

2. Southampton Village South, Town & Country
The Price: $12K, July
The Skinny: A manageable 2BR, 2BA craftsmen cottage with a gunite pool, one of the area's "largest shade trees," and a convenient SOH location. Call it relaxation-ready! Quirky decor and a colorful kitchen also add to the country-feel. Did we mention it is SOH?

3. Cove Road, Water Mill; Prudential
The Price: $53K, MD-LD
The Skinny: An alternative to the waterfront McMansion is this simpler 4BD, 2BA bayfront home, which is just seconds from the ocean. The sort of dated, sort of retro decor and lack of pool may turn some off, but the real draw here is the wet stuff.

4. Toylsome Lane, Southampton; Saunders
The Price: $225K, MD-LD
The Skinny: Avoid living in someone else's mess with this new dutch colonial. The property boasts the seclusion of a flag lot and the convenience of a walk-to-town location. Double whammy! Despite the tiny lot, the home squeezes in 5BD, 5BA, a pool, and a garage.

5. Upper 7 Ponds Road, Water Mill; Prudential
The Price: $7K, July
The Skinny: A classic farmhouse on a primary, kinda busy Water Mill North road. The 3BD, 2.5BA home is spotless, comes with attractive furniture, and has great outdoor space. (A brick patio, hydrangeas, and two sheds!) Extra subterranean space for guests rounds of the home.

6. Pheasant Close, Southampton; Corcoran
The Price: $115K, August-LD
The Skinny: Rent like a Real Housewife! Pinot-loving Ramona's stucco home comes with a sunken tennis court, pond views, and great landscaping. Plus, you can round up friends, put them up in one of six bedrooms, and recreate scenes from your favorite guilty pleasure.

7. Ox Pasture Road, Southampton; Corcoran
The Price: $850K, MD-LD
The Skinny: One of the most outrageous homes up for rent this season. 18,000 square feet of living space, indoor and outdoor pools, 9+ acres of prime estate section land, grass tennis court...the list goes on! The 12BD, 12BA was renovated to the highest standards, which is probably why the owners can charge $1.25 million if you decide to stick around for the year.