Hundreds of center-city dwellers are poised to make thousands of dollars in rent when the swarm of politicians, lobbyists and corporate officials come to town for the Democratic National Convention in September.
But rental websites and property management groups attest that a number of south Charlotteans – who live as far out as Lake Wylie and Ballantyne – are also cashing in on the opportunities.
“We’ve seen (listings) much farther north and south than we would have expected,” said Trent Corbin, president of Providence Property Management. “We’ve actually had a few groups contact us that are staying as far away as Hickory, N.C., because they can’t find hotels closer.”
Corbin’s firm typically manages longer-term rentals but has been working on convention-related rentals since the beginning of the year.
Because of the proximity to the DNC events uptown, Corbin said center-city condos are in highest demand. Inside the Interstate-277 loop, people are paying $600-$700 per bedroom per night, he said.
But many homes outside the I-277 loop, in neighborhoods such as Dilworth, Myers Park and Eastover, are still earning top dollar, Corbin said, often $400 per bedroom per night.
Providence Property Management has even rented a couple of homes in Ballantyne.
Delegates are expected to stay in hotels during the Sept. 4-6 event, and organizers say the Charlotte region has more than enough hotel rooms to meet the 15,000 demand. In all, more than 35,000 people, including journalists, lobbyists and protesters, are expected to come to the city during the convention.
That’s why demand for private homes, even ones a few miles out, are in demand.
Since convention organizers announced Charlotte as the host city last year, homeowners have speculated about the money they could make leasing out their home. Lake Wylie are rentals are asking $1,100 to $4,000 per day.
A large home in Quail Hollow is listed on Craigslist for $25,000 for the week.
Lexie Longstreet, co-founder of www.DNCDigs.com, said there are a number of reasons a listing might not get traffic. A web listing with low-quality photos – or no photos at all – isn’t appealing, she said.
“And I think a lot of people see it as a get-rich scheme and price it too high,” said Longstreet.
A couple of weeks ago, a political marketing firm replied to an ad Brian Hedgepeth, 29, and his wife listed for their 1,600-square-foot home near Montford Drive. Hedgepeth had listed it on Craigslist and local start-ups www.DNCrental.com and www.DNCDigs.com.
He included professional quality photos, as well as a map and links to all the restaurants and shops within walking distance. He highlighted all the nearby bus routes going into the city.
He asked for $1,000 a day, $5,000 for the week.