NEED ADVICE on renting my house as lodging for a special event in t

NEED ADVICE on renting my house as lodging for a special event in t

Has anyone ever rented out their house for a week for a special event? I need some advice on how to do it. There is a big PGA golf tournament coming up in my town in August, and many people will rent out their homes for big bucks that week. Last major tourney we had folks close to the

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  1. #1
    carole
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    Has anyone ever rented out their house for a week for a special

    event? I need some advice on how to do it. There is a big PGA golf

    tournament coming up in my town in August, and many people will rent

    out their homes for big bucks that week. Last major tourney we had

    folks close to the country club who were getting over $5000 for the

    week! My house isn't as fancy as those are but it is clean and decent

    and still less than 5 miles from the tournament site, and the decent

    hotels in my area are charging $1750 for that week for a simple room.



    My house is a big three bedroom with sleeper sofas in the den and

    living room, so that would be five separate rooms that would each

    sleep 2 people, plus there would still be space for air mattresses if

    needed. It is also dog friendly. I have a small hot tub and a nice

    grill on the patio for cooking. I would even take my vacation week

    off work and provide "extras" like transportation to and from the

    golf course or to shopping, etc. and airport transfers with my

    minivan, "doggie sit" and do maid service while they were gone each

    day and prepare dinner for them ahead of time each night for the

    right price. I can stay at my aunt's house about a block away.



    I need advice on:

    1. what I should charge, both for basic rental and for the extras?

    2. how to protect myself and my property (special insurance?)

    3. How do I check references?

    4. Do I make them pay all in advance? Can I run their credit card via

    paypal or something similar?








  2. #2
    Casey
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    You might contact a local real estate agent for information. I'm in one of those towns that hosts a big tournament and there are businesses that specialize in renting your home for events. If you go thru an agency, they have contracts, collect security deposits, references, etc. Depending on what you/your house offers will determine how much you'll get.The agent will come view your home and find out what you want to provide, such as maid service, cooking, etc. One couple has a very high class spacious home. It's rented to a CEO of some company. He(the CEO) likes to entertain and have people over for parties. The home owners provide maid service and make advance arrangements for caterers, etc. Of course this makes the price much higher. Another couple have a nice home about 20 minutes away, and rent their home to 4 people just looking for a nice , clean place to stay and don't expect maid service or cooking,etc. So
    they charge less. I believe they get $5000 for four days. The high class home is about 4 times that. But you understand even the "dive" motels get $500 a night here during tournament week. One plus, the folks with the nice home went thru the agency for the first year. The people enjoyed their stay and contacted them directly the next year to rent their home. So they had renters they knew, and liked, and didn't have to pay an agency to find someone. But if you're new to this, I'd definitely use an agency the first year.


  3. #3
    herberkids3
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    Hmm... that's a tough one. First of all, are you prepare to let

    virtual strangers stay in your home? They'd have access to your

    home, and everything in it for a week. The money looks good, sure,

    but I'd be scared of what I might forget to tuck away safely, that

    they might stumble over.



    I don't know about insurance, but at the very least, get referrences

    (multiple), and require a down payment of half the amount you want

    to charge. For refrences, check it by calling them. Ask for a

    personal reference, a business reference (maybe?), and a rental

    reference. Ask that they not be related, and get current phone

    numbers.



    You should also get license plate numbers for all the vehicles, and

    drivers licenses for all the people staying in the house. This way,

    if something is damaged, or the price isn't paid, then you can go

    ahead and file charges.



    Ask around at what other people are going to be charging for houses

    similiar to yours. Don't look at what the closer, nicer, bigger

    places might get. I'd say at least $2,000 for the week, judging on

    the hotels charging $1750. They'll be getting a bigger space, with

    access to a kitchen, so you should charge more than the hotel.







    Your best bet on information would be to contact someone who did

    this last time. They would be able to help with what needs to be

    done, insurance wise.





    --- In Budget101_@yahoogroups.com, "carole" <caroleibrown@...> wrote:

    >

    > Has anyone ever rented out their house for a week for a special

    > event? I need some advice on how to do it. There is a big PGA golf

    > tournament coming up in my town in August, and many people will

    rent

    > out their homes for big bucks that week. Last major tourney we had

    > folks close to the country club who were getting over $5000 for

    the

    > week! My house isn't as fancy as those are but it is clean and

    decent

    > and still less than 5 miles from the tournament site, and the

    decent

    > hotels in my area are charging $1750 for that week for a simple

    room.

    >

    > My house is a big three bedroom with sleeper sofas in the den and

    > living room, so that would be five separate rooms that would each

    > sleep 2 people, plus there would still be space for air mattresses

    if

    > needed. It is also dog friendly. I have a small hot tub and a nice

    > grill on the patio for cooking. I would even take my vacation week

    > off work and provide "extras" like transportation to and from the

    > golf course or to shopping, etc. and airport transfers with my

    > minivan, "doggie sit" and do maid service while they were gone

    each

    > day and prepare dinner for them ahead of time each night for the

    > right price. I can stay at my aunt's house about a block away.

    >

    > I need advice on:

    > 1. what I should charge, both for basic rental and for the extras?

    > 2. how to protect myself and my property (special insurance?)

    > 3. How do I check references?

    > 4. Do I make them pay all in advance? Can I run their credit card

    via

    > paypal or something similar?

    >










  4. #4
    herberkids3
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    Add on-



    with the extra's you list (called conceirage most the time), I'd say

    charge no less than $3500 for the week.



    --- In Budget101_@yahoogroups.com, "herberkids3" <herberkids3@...>

    wrote:

    >

    > Hmm... that's a tough one. First of all, are you prepare to let

    > virtual strangers stay in your home? They'd have access to your

    > home, and everything in it for a week. The money looks good, sure,

    > but I'd be scared of what I might forget to tuck away safely, that

    > they might stumble over.

    >

    > I don't know about insurance, but at the very least, get

    referrences

    > (multiple), and require a down payment of half the amount you want

    > to charge. For refrences, check it by calling them. Ask for a

    > personal reference, a business reference (maybe?), and a rental

    > reference. Ask that they not be related, and get current phone

    > numbers.

    >

    > You should also get license plate numbers for all the vehicles,

    and

    > drivers licenses for all the people staying in the house. This

    way,

    > if something is damaged, or the price isn't paid, then you can go

    > ahead and file charges.

    >

    > Ask around at what other people are going to be charging for

    houses

    > similiar to yours. Don't look at what the closer, nicer, bigger

    > places might get. I'd say at least $2,000 for the week, judging on

    > the hotels charging $1750. They'll be getting a bigger space, with

    > access to a kitchen, so you should charge more than the hotel.

    >

    >

    >

    > Your best bet on information would be to contact someone who did

    > this last time. They would be able to help with what needs to be

    > done, insurance wise.

    >

    >

    > --- In Budget101_@yahoogroups.com, "carole" <caroleibrown@> wrote:

    > >

    > > Has anyone ever rented out their house for a week for a special

    > > event? I need some advice on how to do it. There is a big PGA

    golf

    > > tournament coming up in my town in August, and many people will

    > rent

    > > out their homes for big bucks that week. Last major tourney we

    had

    > > folks close to the country club who were getting over $5000 for

    > the

    > > week! My house isn't as fancy as those are but it is clean and

    > decent

    > > and still less than 5 miles from the tournament site, and the

    > decent

    > > hotels in my area are charging $1750 for that week for a simple

    > room.

    > >

    > > My house is a big three bedroom with sleeper sofas in the den

    and

    > > living room, so that would be five separate rooms that would

    each

    > > sleep 2 people, plus there would still be space for air

    mattresses

    > if

    > > needed. It is also dog friendly. I have a small hot tub and a

    nice

    > > grill on the patio for cooking. I would even take my vacation

    week

    > > off work and provide "extras" like transportation to and from

    the

    > > golf course or to shopping, etc. and airport transfers with my

    > > minivan, "doggie sit" and do maid service while they were gone

    > each

    > > day and prepare dinner for them ahead of time each night for the

    > > right price. I can stay at my aunt's house about a block away.

    > >

    > > I need advice on:

    > > 1. what I should charge, both for basic rental and for the

    extras?

    > > 2. how to protect myself and my property (special insurance?)

    > > 3. How do I check references?

    > > 4. Do I make them pay all in advance? Can I run their credit

    card

    > via

    > > paypal or something similar?

    > >

    >










  5. #5
    carole
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    Wow....you really think I could get $3500 if I did the extras??

    I will absolutely take the week off work then, it will be worth

    it...$3500 would be a HUGE help for me, I am really struggling

    financially and ready to try just about anything legal to catch up...

    My "magic number" I'd really like to earn is $3830. That is the

    payoff for my biggest credit card.



    --- In Budget101_@yahoogroups.com, "herberkids3" <herberkids3@...>

    wrote:

    >

    > Add on-

    >

    > with the extra's you list (called conceirage most the time), I'd

    say

    > charge no less than $3500 for the week.

    >

    > --- In Budget101_@yahoogroups.com, "herberkids3" <herberkids3@>

    > wrote:

    > >

    > > Hmm... that's a tough one. First of all, are you prepare to let

    > > virtual strangers stay in your home? They'd have access to your

    > > home, and everything in it for a week. The money looks good,

    sure,

    > > but I'd be scared of what I might forget to tuck away safely,

    that

    > > they might stumble over.

    > >

    > > I don't know about insurance, but at the very least, get

    > referrences

    > > (multiple), and require a down payment of half the amount you

    want

    > > to charge. For refrences, check it by calling them. Ask for a

    > > personal reference, a business reference (maybe?), and a rental

    > > reference. Ask that they not be related, and get current phone

    > > numbers.

    > >

    > > You should also get license plate numbers for all the vehicles,

    > and

    > > drivers licenses for all the people staying in the house. This

    > way,

    > > if something is damaged, or the price isn't paid, then you can go

    > > ahead and file charges.

    > >

    > > Ask around at what other people are going to be charging for

    > houses

    > > similiar to yours. Don't look at what the closer, nicer, bigger

    > > places might get. I'd say at least $2,000 for the week, judging

    on

    > > the hotels charging $1750. They'll be getting a bigger space,

    with

    > > access to a kitchen, so you should charge more than the hotel.

    > >

    > >

    > >

    > > Your best bet on information would be to contact someone who did

    > > this last time. They would be able to help with what needs to be

    > > done, insurance wise.

    > >

    > >

    > > --- In Budget101_@yahoogroups.com, "carole" <caroleibrown@> wrote:

    > > >

    > > > Has anyone ever rented out their house for a week for a special

    > > > event? I need some advice on how to do it. There is a big PGA

    > golf

    > > > tournament coming up in my town in August, and many people will

    > > rent

    > > > out their homes for big bucks that week. Last major tourney we

    > had

    > > > folks close to the country club who were getting over $5000 for

    > > the

    > > > week! My house isn't as fancy as those are but it is clean and

    > > decent

    > > > and still less than 5 miles from the tournament site, and the

    > > decent

    > > > hotels in my area are charging $1750 for that week for a simple

    > > room.

    > > >

    > > > My house is a big three bedroom with sleeper sofas in the den

    > and

    > > > living room, so that would be five separate rooms that would

    > each

    > > > sleep 2 people, plus there would still be space for air

    > mattresses

    > > if

    > > > needed. It is also dog friendly. I have a small hot tub and a

    > nice

    > > > grill on the patio for cooking. I would even take my vacation

    > week

    > > > off work and provide "extras" like transportation to and from

    > the

    > > > golf course or to shopping, etc. and airport transfers with my

    > > > minivan, "doggie sit" and do maid service while they were gone

    > > each

    > > > day and prepare dinner for them ahead of time each night for

    the

    > > > right price. I can stay at my aunt's house about a block away.

    > > >

    > > > I need advice on:

    > > > 1. what I should charge, both for basic rental and for the

    > extras?

    > > > 2. how to protect myself and my property (special insurance?)

    > > > 3. How do I check references?

    > > > 4. Do I make them pay all in advance? Can I run their credit

    > card

    > > via

    > > > paypal or something similar?

    > > >

    > >

    >










  6. #6
    carole
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    Casey, I'm seriously going to try to do this, thanks for the hints, I

    am going to do some research into finding one of these companies that

    handles the rental details...I have a question for you: where do you

    live? I live in Tulsa, Oklahoma...I'm wondering if our cities would

    be comparable for pricing...





    --- In Budget101_@yahoogroups.com, Casey <kacisierra@...> wrote:

    >

    > You might contact a local real estate agent for information. I'm

    in one of those towns that hosts a big tournament and there are

    businesses that specialize in renting your home for events. If you

    go thru an agency, they have contracts, collect security deposits,

    references, etc. Depending on what you/your house offers will

    determine how much you'll get. The agent will come view your home and

    find out what you want to provide, such as maid service, cooking,

    etc. One couple has a very high class spacious home. It's rented to

    a CEO of some company. He(the CEO) likes to entertain and have

    people over for parties. The home owners provide maid service and

    make advance arrangements for caterers, etc. Of course this makes

    the price much higher. Another couple have a nice home about 20

    minutes away, and rent their home to 4 people just looking for a

    nice , clean place to stay and don't expect maid service or

    cooking,etc. So they charge less. I believe they get $5000 for

    > four days. The high class home is about 4 times that. But you

    understand even the "dive" motels get $500 a night here during

    tournament week. One plus, the folks with the nice home went thru

    the agency for the first year. The people enjoyed their stay and

    contacted them directly the next year to rent their home. So they

    had renters they knew, and liked, and didn't have to pay an agency to

    find someone. But if you're new to this, I'd definitely use an agency

    the first year.

    >










  7. #7
    herberkids3
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    I would say it depends mostly on what other houses the same size offer.

    But if you are willing to cart them around, make their meals, clean the

    house, dog sit, etc, definetly ask for quite a bit more. Those types of

    services are invaluable to the type of people who travel with a

    tournament like that.





    --- In Budget101_@yahoogroups.com, "carole" <caroleibrown@...> wrote:

    >

    > Wow....you really think I could get $3500 if I did the extras??

    > I will absolutely take the week off work then, it will be worth

    > it...$3500 would be a HUGE help for me, I am really struggling

    > financially and ready to try just about anything legal to catch up...

    > My "magic number" I'd really like to earn is $3830. That is the

    > payoff for my biggest credit card.

    >










  8. #8
    Casey
    Guest

    Default NEED ADVICE on renting my house as lodging for a special event in t

    I'm in Augusta GA. Our normal cost of living is very reasonable here. So that week of the tournament is a real biggie to lots of folks. The rental agency should be able to give you an idea of what type of house & services is most popular. One lady that rents her home doesn't really provide "services" but always leaves a nice fruit basket along with a list of the best local restaurants, phone #'s for pizza or take out delivery places, emergency #'s(comes in handy for someone needing an emergengy dentist, etc.), and driving directions for the routes to the tournament. It's just a little gesture that makes the stay a bit easier for the visitors. Good luck with this. I know the extra money will sure come in handy. Casey


 

 

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