Renting homes is big business when big events happen in Indy
Indianapolis homeowners are making a profit by putting their home up for rent over the National College Football Playoffs weekend.
INDIANAPOLIS – Big events like the National College Football Playoff Championship give people the chance to charge a pretty penny for their seat.
Anson Thompson is one of them.
“It’s a lovely house, and it’s walking distance to Lucas Oil [Stadium]”said Thompson.
Although Thompson is a resident of Indiana, he and his wife travel a lot. So they occasionally rent their house in Fletcher Pointe.
âTo rent our house in Indianapolis, it’s $ 500 a night, minimum,â Thompson said.
But after a conversation with his listing agent, they decided to charge more this weekend.
“[He] Called me up and said, âHey one of the other houses in your neighborhood, I just uploaded the Big Ten Championship and was able to make quite a bit of money,â Thompson said.
And quite a bit of money Thompson got, too.
Instead of $ 500 a night, he will receive $ 4,000 a night for two days.
Tanner Halbig lives in Fountain Square and decided to reserve his place for one night.
âI thought there would be a lot of fans coming to town just for the night and needing a place to stay,â said Halbig.
Halbig said those 24 hours would net him around $ 1,500.
“Fortunately, I have family members nearby, so I will be able to spend the night with them,” he said.
Events that draw crowds in Indy
Jim Borthwick works with LetsConvention, a company that helps connect visitors to rental properties like the Thompsons. He said it was their biggest event since the start of the COVID pandemic.
But NCAA events aren’t the only attractions that draw travelers to town.
âOur biggest events in town are GenCon, Drum Corps International, FDIC International, Indy 500,â Borthwick said.
What should I consider before renting?
If you would like to rent your seat, Borthwick said to display it when the event is announced.
âRun it like a small business. You want to make sure you have cleaning supplies, make sure you have toilet paper, paper towels, hand soaps,â Borthwick said.
He adds that it is also a good idea to provide visitors with recommendations of bars and restaurants.
In terms of insurance, Airbnb and Vrbo offer certain protections. However, Thompson, who works in insurance, purchases some form of commercial coverage in addition to his home insurance policy.