Homeowners Cashing-In on the Next Big Game

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Homeowners Cashing-In on the Next Big Game

Posted On : Jan-11-2012 | seen (434) times | Article Word Count : 636 |

Demand for alternative lodging options for sporting events around the country are luring homeowners into the temporary rental market. For many their homes can be big money makers as long as they take the necessary precautions to preserve the value of this asset.

Many homeowners with the good fortune to live close-by large professional sports venues are taking advantage of the growing demand for alternative lodging options by fans traveling to these locations. Some of the larger events taking place in the U.S., and around the world for that matter, have always sparked demand for home rentals versus a hotel from business concerns wanting to entertain their clients or company execs. But many homeowners are now fielding inquiries from real estate brokers, travel agents, and individuals for much more commonplace sporting events such as a regular season NFL football game.

The lure of a big payday can be very attractive to anyone with a comfortable home within a short distance of the stadium. Real estate brokers around the country dangle big numbers in front of many homeowners, especially those with choice locations and amenities. One Dallas “rentee” recently opted to rent her home to a group from N.Y. for the Cowboys game against the New York Giants after hearing an offer she could not refuse.

This particular group wanted her home for a week for which she received $400 per night plus other fees, which by the end of their stay amounted to $5200 for the week. Not a bad income for one week. In addition, this group also had to pay city and state occupancy taxes, plus a $1500 deposit that the renters get back after their stay.

However, all that glitters is not gold and this can be especially true when turning the keys to your home over to complete strangers. From a dollars and cents standpoint, all monies are usually paid upfront just in case your renters just happened to bet on the wrong team or spend too much of their budget celebrating after the game. And, it is important to make sure that your security deposit is adequate to cover any damage that even the gentlest renters might cause to your valuables and the structure of your home.

Many renters prefer to use the services of a real estate firm before they turn their house over to a stranger. While these agents can’t guarantee that your home will look the same after your transient company has gone, they can at least do some background checking to make sure that your group doesn’t have a reputation for destroying homes as well as having these renters sign an agreement covering many potential pitfalls.

There are other things to consider before counting the cash from renting your home to traveling sports revelers and some of these might come as something of a surprise. For one, there is an entire “entertainment” industry often known as the oldest profession that often looks to set up shop around big sporting events; and what better place to do so than in a spacious home close to the stadium. Like a scene from “Risky Business” your home could very well become a place of business if you don’t properly screen your clients. This can create obvious legal problems for you, for which the answer “I didn’t know” is often not adequate with the authorities. And then there are the neighbors. What better way to destroy your reputation on Main St. then to allow your home, and their neighborhood to become a carnal playground!
A
Huge sporting events attract so many fans, media, and entourages from the teams that more often than not, traditional lodging options such as hotels and motels fill their registers very quickly, and thereby increasing the demand for other options for the sports traveler. Many homeowners are taking advantage of the demand and turning their homes into money makers. And the smart ones are making sure that their homes are still standing afterward to be cashed-in on for the next big game.

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<h1>Homeowners Cashing-In on the Next Big Game</h1> Author: <a href='http://www.articleseen.com/profile_Richard Milano.aspx'>Richard Milano</a> Many homeowners with the good fortune to live close-by large professional sports venues are taking advantage of the growing demand for alternative lodging options by fans traveling to these locations. Some of the larger events taking place in the U.S., and around the world for that matter, have always sparked demand for home rentals versus a hotel from business concerns wanting to entertain their clients or company execs. But many homeowners are now fielding inquiries from real estate brokers, travel agents, and individuals for much more commonplace sporting events such as a regular season NFL football game.

The lure of a big payday can be very attractive to anyone with a comfortable home within a short distance of the stadium. Real estate brokers around the country dangle big numbers in front of many homeowners, especially those with choice locations and amenities. One Dallas “rentee” recently opted to rent her home to a group from N.Y. for the Cowboys game against the New York Giants after hearing an offer she could not refuse.

This particular group wanted her home for a week for which she received $400 per night plus other fees, which by the end of their stay amounted to $5200 for the week. Not a bad income for one week. In addition, this group also had to pay city and state occupancy taxes, plus a $1500 deposit that the renters get back after their stay.

However, all that glitters is not gold and this can be especially true when turning the keys to your home over to complete strangers. From a dollars and cents standpoint, all monies are usually paid upfront just in case your renters just happened to bet on the wrong team or spend too much of their budget celebrating after the game. And, it is important to make sure that your security deposit is adequate to cover any damage that even the gentlest renters might cause to your valuables and the structure of your home.

Many renters prefer to use the services of a real estate firm before they turn their house over to a stranger. While these agents can’t guarantee that your home will look the same after your transient company has gone, they can at least do some background checking to make sure that your group doesn’t have a reputation for destroying homes as well as having these renters sign an agreement covering many potential pitfalls.

There are other things to consider before counting the cash from renting your home to traveling sports revelers and some of these might come as something of a surprise. For one, there is an entire “entertainment” industry often known as the oldest profession that often looks to set up shop around big sporting events; and what better place to do so than in a spacious home close to the stadium. Like a scene from “Risky Business” your home could very well become a place of business if you don’t properly screen your clients. This can create obvious legal problems for you, for which the answer “I didn’t know” is often not adequate with the authorities. And then there are the neighbors. What better way to destroy your reputation on Main St. then to allow your home, and their neighborhood to become a carnal playground!
A
Huge sporting events attract so many fans, media, and entourages from the teams that more often than not, traditional lodging options such as hotels and motels fill their registers very quickly, and thereby increasing the demand for other options for the sports traveler. Many homeowners are taking advantage of the demand and turning their homes into money makers. And the smart ones are making sure that their homes are still standing afterward to be cashed-in on for the next big game.About the Author: To know more about Sporting Events Rentals please browse <a rel="nofollow" href="http://www.sportseventrentals.com/">Sporting Events Rentals</a>
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Category : Travel and Leisure : Travel and Leisure

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