Renting Out Your Home During Inauguration Week? Experts Offer Advice

(Editor's note: The following is a guest column by Sue Goodhart and Allison Goodhart DuShuttle, real estate agents with The Goodhart Group at McEnearney Associates.)

All eyes will soon be on Washington, DC for the upcoming presidential inauguration and a million people are expected to flood into the nation’s capital, both for the inauguration and for various protest events, creating a high demand for lodging. For those considering last-minute rental of their homes to inauguration week visitors as a way to make some extra cash, our Alexandria-based real estate team, which has experience renting properties to out-of-towners, wanted to offer the following advice.

• If you still haven’t posted your listing, get it published ASAP! Make sure the photos posted online look great and are clutter-free.
• Promote your property’s location as it relates to easy access to events. Is your home near bus lines or Metro? If so, let people know the distance to key locations and show how to navigate the transportation systems. If it’s less convenient, give a credit for an Uber or Lyft trip.
• Act as a "concierge" of sorts: Offer a well-stocked refrigerator or a welcome basket with some basic snacks or neighborhood tips. Arrange for a car service to pick up and drop off from the train station or airport.
• If you don’t own your property, be sure to get landlord permission before sub-leasing to a short-term rental. If your landlord finds out, they could take action.
• Definitely give a heads up to your neighbors, to preserve neighbor relations. You want to be sure they are not alarmed by strangers going in and out of your place. A potential benefit is the neighbors might even keep an eye on the place for you and report back while you’re away!
• Be sure you are prepared for the risk and liability if your home or personal items get damaged. Remove treasured personal items and valuables from your home.
• Be prepared for a little interruption to your life, such as guest inquiries, checking in and out, neighbor complaints, items being broken or guests getting locked out. It happens!

The bottom line? Be prepared. If you’re leaving town, make sure someone you know and trust is nearby with a key in case of an emergency at your home. Also, be sure your guests have your contact information and that you will be easily reachable. Renting your home in the short-term can be a great way to capitalize and make some extra cash, but be sure to weigh all of the possible pitfalls too. It’s not for everyone!

Sue Goodhart and Allison Goodhart DuShuttle are real estate agents with The Goodhart Group at McEnearney Associates. The Goodhart Group is a top-producing real estate team specializing in real estate in Alexandria and throughout the DC Metro area. Find out more at www.thegoodhartgroup.com.

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