You might be thinking, “I have NO idea what I’ll be doing for the Super Bowl next year.” That’s reasonable. We are only in the first week of November after all, and we’ve just reached the midpoint for this football season. On the other hand, when you think of the potential pay day you could enjoy come Super Bowl time next year, you might experience a heightened sense of urgency regarding the opportunity to rent out your home. The Star Tribune reminded us of the enticing details in last week’s article titled “With Super Bowl rooms in short supply, private home rentals rise.” Here are the talking points. 70% of Twin Cities homes listed on home rental sites (Airbnb and VRBO, for example) were already booked for the week of the Super Bowl, with the average nightly rate for those that remain at $2,305. That’s $600 more than Houston’s nightly average last year when it hosted the Super Bowl. The article references the lower number of area Twin Cities hotel rooms as reason for a greater nightly rate. Even if your home is renting for half of that per night, you’re likely going to come out with a mortgage payment or 2 for your trouble.
Unfortunately, for many apartment renters and condo owners living near US Bank Stadium, association rules prohibit short term rentals, as reported in the article. The need for whole house rentals and even room rentals within a home is therefore that much greater. Minneapolis, St. Paul, and even the suburbs are all fair game, though proximity to the events or other prime Twin Cities attractions is a draw. There will be rental parties looking for luxury accommodations and willing to pay for it, and then there will be fans just looking for a place to stay whilst partaking in the week’s events. Especially for whole home and luxury rentals, it’s helpful to use a broker to correctly market and price the rental.
Back in July, we shared that we’d already rented out a few spaces for the Super Bowl. That was almost 4 months ago, and now we’re just a titch over 3 months away from the big event. Now’s the time to get the ball rolling, start ironing out the details, and make February 2018 a month to remember. Please shoot me an email or give me a call (952-258-3100) to discuss details.
Photo credit: morguefile.com