Rentals may profit from conventions
by Mitch Weiss, Associated Press Writer and Tamara Lush, Associated Press
August 15, 2012 12:33 AM | 489 views | 0 0 comments | 4 4 recommendations | email to a friend | print
James Griffin of Tampa, Fla., stands in the living room of his condo in the city, downtown on Friday. Griffin is asking $1,250 a night to rent his home for the Republican National Convention. The only offers he's had so far are from protesters wanting to spend $100 a night.
James Griffin of Tampa, Fla., stands in the living room of his condo in the city, downtown on Friday. Griffin is asking $1,250 a night to rent his home for the Republican National Convention. The only offers he's had so far are from protesters wanting to spend $100 a night.
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CHARLOTTE, N.C. — For Dustin Read, the upcoming Democratic National Convention in Charlotte seemed like a surefire way to make extra money.

An estimated 35,000 people — from delegates and journalists to scores of protesters and police — will be flocking to North Carolina’s largest city to attend the three-day convention in early September. He figures some of those visitors might want a bigger place to stay than a cramped hotel room with no backyard.

So a few months ago, Read listed his three-bedroom, two-bathroom house as a short-term rental. His price: $7,000 a week.

“There are a lot of people coming to Charlotte and this was a good way to make money. Why not?” said Read, the director of real estate at the University of North Carolina-Charlotte’s Belk College of Business. “A lot of people felt the same way .... But the closer you get to the convention, the more you see people looking for last minute bargains.”

It’s a similar situation in Tampa, Fla., host city for the Republican National Convention: homeowners looking to make a quick buck all with the added benefit of giving them a chance to get out while their hometown is overrun by convention-goers and snarled with tightened security.

Charlotte and Tampa officials say they have enough hotel and motel rooms to handle the crowds. But some listed their homes just in case people wanted an alternative to hotels. They’re banking on landing visitors who didn’t plan ahead and need a place to stay and also targeting big groups with deep pockets, such as lobbyists who want more space to entertain.

When homeowners in the two cities first began listing their properties, the prices were steep. Some were asking up to $20,000 a week. One Charlotte homeowner wanted $50,000 to rent his five-bedroom house for a month.

With less than a month to go before the conventions kick off — the Republicans are meeting the last week of August in Tampa, while the Democrats are holding their convention the first week of September in Charlotte — people are lowering their prices.

Just ask Fran Goods. She placed an ad on Craigslist a few months ago for her two-bedroom, 1,000-square-foot condo about five miles south of Time Warner Cable Arena, where the first two days of the Democratic convention will be held. On the last day, President Barack Obama will make his acceptance speech at the 74,000-seat outdoor Bank of America stadium where the city’s NFL team plays.

“I had some people call me, but not many,” said Goods, who splits her time between Charlotte, to be near family, and Naples, Fla. Either way, she plans to be out of town during the convention. “I’m not charging a lot of money. This is a good bargain. And the light rail is right outside my condo. A few stops and you’re at the arena. You can’t beat it.”

In Tampa, James Griffin has put his one-bedroom loft in the downtown on Craigslist, asking $1,250 a night. If he gets any takers, he’ll go elsewhere and not get caught up in the traffic snarls, security issues and crowds who will descend on his hometown the last week in August.
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