Tuesday, October 23, 2007

Homeowners looking for quick rent money

WE'VE MOVED! Democratic Convention Watch is now at http://www.DemocraticConventionWatch.com

Where there is demand, supply is sure to follow:

The Democratic National Committee has blocked out 17,000 Denver-area hotel rooms for a week, but won't allow any of the 35,000 people expected to reserve them until January. A $1 million donation will land a company on the DNC's priority housing list. A $250,000 donation will secure at least one room.

So, companies are looking for alternatives to hotels and some Denver residents are looking to cash in on providing lodging during the convention, scheduled Aug. 25-28. Rick Mirsky is planning a vacation with his fiancee during the convention and renting his loft in lower downtown to a Washington law firm for $2,000 a night while he's gone. "It's an opportunity that rarely happens, to be able to make $5,000 to $10,000 in a matter of four days," Mirsky said. The law firm is still looking for another 41 rooms.
Developer Mark Falcone, chief executive of Continuum Partners, said he's getting inquiries for units downtown and in Lakewood. Continuum is asking a minimum of three months' rent to lease a place for August. Falcone said that will cost $12,000 to $13,000 for one of the Denver units. "There are people who really do need things for a whole month," Falcone said. "Three hotel rooms would have the same cost and value for the same duration."
If you've got the space, why not make a little, or not so little, money out of it. And if you're a Republican, and want to get out of town anyway, even better.