Secrets for Phoenix homeowners wanting to rent out their homes for Super Bowl LVII
Phoenix area homes renting for $1,500 To $19,000 a night.
PHOENIX (3TV/CBS 5) - Millions of dollars will be poured into the Phoenix metro area, all courtesy of the Super Bowl. Some homeowners are looking to get on a piece of the action.
Erin Spradlin, author and real estate consultant, said that this is the opportunity to a lifetime for some area homeowners. She said the first step is to list your home on well-known short term rental sites to get the most traffic and to stay on top of paperwork such as insurance. “Airbnb and VRBO will handle the contracts for you,” she said.
Step two for homeowners is to price your rent right. To get that, figure out how much nearby hotel rooms are renting for and multiply that amount toward the number of bedrooms your home has. “Typically, hotel rooms will sleep two people so if rooms are going for $650 a night and if you have a 3 bedroom house--you’re going to look at the cost of the hotel room and multiply that times three for a 3-bedroom house,” Spradlin said.” That means your 3-bedroom home can rent out for around $1,950 a night. If the renter stays five days, that totals $9,750.”
She also suggested homeowners come up with some kind of creative headline for their home and focus on the proximity to the stadium. “It’s not the worst thing to say ‘We’re perfect for the Super Bowl’ and then say ‘We’re a 6 minute Uber ride to the Super Bowl Stadium,’” Spradlin said. Instead of putting the price in your headline, she suggests showing more photos of your amenities to really “sell” your home.
“I think ping pong or air hockey tables do very well,” Spradlin said. “Because people are coming in for the experience of a party, so things that support partying should be in your first paragraph.” Even though the Super Bowl is just one day, some travelers will rent for the week to enjoy both the game, the events leading up to the game, and other Valley events.
The idea is that potential renters can picture themselves having a good time in your home instead of somewhere else. “If you have a gigantic TV, talk about that,” Spradlin said. “If you have a barbecue on site, talk about that. Anything that creates a really fun mood I think will be very attractive.” Before you count your coins, Spradlin said to always check in with your city and potential HOA restrictions about short term rentals. The last thing you need is to pay a fine or penalty. Finally, be honest in your advertisement. For example, don’t indicate you have a heated swimming pool if it’s really not heated.
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