Next August, Charlotte will welcome over 50,000 guests as it hosts the 2020 Republican National Convention at the Spectrum Center. This major political gathering will bring an influx of tourists into the city, all of whom will need somewhere to stay.
While most hotels will sell out early, especially those close to uptown, many attendees will look to the popular app Airbnb to secure accommodations. Over the years it has been shown that travelers actually prefer Airbnb to traditional hotels when needing a place to stay.
What this means for local residents is the chance to earn a little extra money during the four-day event. If you plan to skip town for those days, or if you have extra room, listing your home could potentially bring in some extra income.
Aaron Seelbinder, the founder of rental marketing and management company HomeShareHero, said the RNC was a big part of deciding to purchase property in Charlotte.
“Most of my properties gross $100k+ a year. When I looked into Charlotte, we weighed our options heavily. Ultimately, myself and my partners went for it in Charlotte, primarily depending on the RNC for a boost in revenue,” he said.
But Eryn Feeney of Rabbu told CharlotteFive, “Those within close proximity to the Spectrum Center could list at rates 2.5 times more than what they would rent for on a normal night. Also, choosing to list your entire home versus only a room will allow you to ask for more money.”
As of now there are 3,011 active listings for Charlotte, but that number will rise as we near the RNC. The average nightly rate for homes in utown available during next year’s convention is right around $565. Here are some particularly stunning examples of Charlotte listings.
This studio apartment is going for a rate of $3,000 per night for the August 2020 event. According to the listing, it features a rooftop garden with an amazing view of the city’s skyline and is within 1 mile of the Spectrum Center. Other standout amenities include breakfast during your stay, pool access and free parking on the premises.
At a price of $5,985 a night, Seelbinder, the owner of this listing makes note of the backyard hot tub and fire pit, an Asteroids arcade game and a retro Airstream that guests can utilize for photos. The goal is to make this rental an entertainment haven while visiting Charlotte.
This 3-bedroom home is listing at $3,000 per night, and it comes with free breakfast and modern amenities. While it’s described as a treehouse, it’s a home surrounded by lots of greenery, which gives guests the feeling of being in a treehouse.
While these numbers are enticing, renting your home for thousands of dollars per night is not typical. It is best to remain flexible. Start higher, and if it looks as though people aren’t flocking to your home, then try to go down a bit on your rate.
To get an idea of what your home could be listed for, the folks at Rabbu have set up this handy prediction calculator specifically for Airbnb rentals during the RNC.
If you are considering listing your home, here’s a few additional tips to get your home ready for booking.
- Check your neighborhood’s rules. Depending on your community, there many be rules or restrictions when it comes to renting your home. You’ll want to check with your homeowners association to make sure that doing so is welcomed. Additionally, you should also let fellow neighbors know that you plan to put your home up for rent, and that there will be guests occupying your home.
- Make your home attractive. To ensure your home gets booked, you’ll want to make sure it’s in tip top shape. Whether that means fixing up things, doing a deep clean or even adding in a few extra decorations or goodies for guests, going the extra mile could make or break your listing.
- Be descriptive with your listing. You’ll want to show that your home is within a reasonable distance to the event. Potential bookers, who likely are not from the area, will want to easily maneuver from space to space. You should also consider describing your space in such a way that guests have a clear understanding, beyond photos, of what they can expect during their stay.