Renting out my place for the Inauguration?

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Topic: Renting out my place for the Inauguration?

Real Estate November 8, 2012 at 11:30 am

Renting out my place for the Inauguration?

Just curious if anyone has considered this?
 
I read about this happening in 2008 and people got absurd prices for a 3-4 day rental. I know the anticipation for Obama’s re-election isn’t the same as it would have been in ’08 but if I can get like $1500 for a 4 day rental of my 3br place in the west end why not?
 
Has anyone done this? What would be a fair price? I live in a really nice rowhouse on 22nd st west of dupont circle, 3 blocks from metro with 2 parking spots.  I think it would be pretty appealing to tourists / visitors.  

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I’m curious about this too. You can walk to the National Mall in 20 minutes from where I live, and it’s a block from the Metro. Seems like I could make a lot of money pretty easily so I’m trying to determine if it’s worth the risk and hassle. 

We used airbnb to rent out the sofabed in our living room for a few days around the last inauguration to two European girls who were travelling during their gap year.  I don’t remember if they had planned to come to DC for the inauguration or if the timing just worked out for them.  I think that using a short-term rental service put both sides at ease.  We got a fair price given that we were offering only a sofabed and shared bathroom in an apartment near the Courthouse Metro station.  I seem to recall that most people’s dreams of charging a lot to rent out their places didn’t come true last time, but I can’t say for sure.

We are considering this as well. You should have no issue getting $1500 for the 4 days, especially in that location. A quick check of Kayak this morning shows that even Motel 8 is charing $250 a night, so $375/night for the whole house should be attainable. I did read that last time, people were charging silly amounts like $5000 a night, but I don’t think anyone actually got those amounts. We are debating trying to rent our Petworth Rowhouse out, and we are hoping for somewhere north of $1500 for the four days.
Looking into just renting a room is a reasonable option as well. I am sure we could get $600+ for 4 nights or so.

During the last inauguration, I had a two-bedroom apartment in the Embassy Apts at the corner of Mt. P, 16th, and Harvard, and rented it out for $2,000 for four days. At the time, I did not have cable, and the woman paid to have it installed and covered my first month.
I would consider a similar situation this time around, but I live in 16th St. Heights instead of two blocks from the Metro, so not sure how I would do it.
 

We tried to rent a one bedroom/shared bath in 2008 for $200-300/night, and got nothing. We’re in Hill East, so that might have been the issue. But we walk to the LOC and Capitol all the time, plus we’re only 1.5 blocks from the Potomac Ave. Metro, so I don’t know. I also remember seeing tons of ads on Craigslist that never came down until they expired. I’m surprised to read here that people got renters, because I remember a couple of Post articles detailing the lack of inauguration renters. That it was all hype.

I’ve been renting out a vacation apt. in my home in Columbia Heights full time for 6 years.  Yes, there is demand for Inauguration – but realistically think 250-300 per night for a place that sleeps 2 in a good location.  I don’t about houses with 3-4 bedrooms – you could base it on $300/room for 2 per night, but you would still need a group. 
 I’m offering mine at a set price – up to 4 people for 4 nights and asking for offers – in the ballpark of $1000.00 total.  I’ve had 27 inquiries so far – but many people are only looking for 2 nights.
It is possible to rent safely through Craigslist – but it is difficult because there are so many scammers. Airbnb.com is a hot mess – with 1549 listings and no way to effectively sort them unless you know the neighborhoods.
If people are interested, I wouldn’t mind having a little meet-up and telling you what I’ve learned.  Tomorrow afternoon would be my only good time, or one evening next week maybe.  If I actually meet you and know you’re legit, I can “pass along” inquiries that I receive.  Meanwhile, search CL & Airbnb and see what’s out there.  Here’s what I posted on CL  http://washingtondc.craigslist.org/doc/vac/3393068919.html
 
 

If anyone is serious about renting their place out – I have (so far) 4 interested parties with whom I have already corresponded, and who sound very nice.  I can only take one, but I’m happy to help them find alternatives.   Please contact me through my Craigslist posting – under Vacation Rentals – search on the headline “Heart of the City – Half Block to METRO.”  Please give me your phone number in your email as I’ll want to talk with you before referring people to you.   And the sooner the better – people are eager to nail something down and I’ve promised people I would make my decision today.
These are people who have already made offers of $900 – 1000.  for the whole stay.

Hello xander_crews 
My name is Tashira Merritt. I am a student reporter at Howard University. I wanted to know if I could ask you a few questions about this for a story that I working on. If you are willing to help me out could you please contact me at my email: tashira.kiandrea@yahoo.com or can you give me your email. Please and thank you for your time and consideration. ! 

This article from a local real estate blog makes it sound like people are not usually succesful renting it out. http://dc.urbanturf.com/articles/blog/the_inauguration_rental_gold_rush/6269 

People are totally successful when they rent at a reasonable rate.  The fat cats are already booked at the expensive hotels.  The people looking now are social workers, teachers, family groups who want to take grandma,  couples who met while volunteering on the 08 campaign and got married!  They are prepared to pay around $300.00 a night for an apt. – which to them is a huge amount – but worth it.   Have a spare bedroom in your house?  $200 is reasonable.   Seriously – I have 27 parties who wanted my apt.  They all sound great -and  have already bought tickets to get here.  As a world traveler myself, I am a bit obsessive about offering hospitality to the traveler, but really, it is easy to be hospitible, make a damn good profit, and help someone fulfill a lifetime dream all at the same time.  

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