How to be an Inauguration Day Landlord: Be Careful
Looking to rent out your house or apartment for inauguration week in January? Hoping to score a quick buck or two? The Post's Elizabeth Razzi writes in the Real Estate section today on how to be prepared and make sure you don't run into any of the many potential problems. Her story begins:
With a crush of visitors expected this Inauguration Day, hundreds of area residents are advertising their homes as temporary -- and top-dollar -- rentals over the four days leading up to Jan. 20. It's a brilliant solution to the lodging shortage, but let's pause a moment to examine the potential for meltdowns.
Crises are almost inevitable given this volatile mix: amateur landlords renting out home-sweet-home, out-of-towners unfamiliar with the area, large sums of money, the absolute unavailability of hotel-room alternatives, and an emotion-laden, once-in-a-lifetime opportunity to witness history being made. Gee, what could go wrong?
By
David A Nakamura
|
November 16, 2008; 3:38 PM ET
| Category:
Housing
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Posted by: MVTer | November 18, 2008 10:37 AM | Report abuse
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What is irresponsible about this article is that it never mentions that most condominiums (and many apartments) do not allow this type of "hotel" rental. Our condo will simply shut fob access off for anyone found to be renting in violation of condo rules. That would certainly be a surprise to a person who has shelled out thousands to stay at a place. The WaPo needs to seriously address this issue and stop leading folks down the path of greed and $$$$.