So, now that the carnival has left town, did anyone actually rent their place out?

It was never an option for me - lease won't allow it - but I'm curious if any of my neighbors had a windfall.

Thank you for posting this. I decided not to pursue a rental; Sounds like I made the right decision.

Interest waning? Hudson homeowners say few biting on Super Bowl rentals

By Joseph R. Vena/The Jersey Journal
January 23, 2014 at 5:44 PM

Fans of the Broncos and Seahawks heading east for Super Bowl XLVIII are scrambling to find places to stay -- but Hudson County residents looking to rent out their homes are getting few inquiries.

With the Super Bowl on Feb. 2 at MetLife Stadium in East Rutherford rapidly approaching, sites like airbnb, Super Bowl Rentalz and HomeAway, which allow owners to advertise the weekend lease of their homes, have numerous listings of homes across the county still available to rent.

Could it be that supply is far outweighing demand?
Even the search term "Super Bowl" in North Jersey Craigslist's "sublets and temporary" section reveals 647 entries, with the first page comprised of listings created in the past three days.
Hoboken resident and Patriots fan DeWitt Hutchins listed his 800-square foot, one- bedroom apartment at 800 Jackson St. on a few different sites, but so far, has only gotten two inquiries, both of whom backed out when they learned he was charging $1,000 a night.

His price, however, pales in comparison to some other Hoboken listings, the highest being a four-bedroom in Maxwell Place asking $10,000 a night.

Hutchins believes that aside from having amenities most hotels don't offer, such as a kitchen and a living room, his proximity to the Hudson-Bergen Light Rail station, a grocery store, a covered parking spot and an in-building sports bar makes his price more than fair.

"I feel like it's kept like a hotel," he said.

Hutchins says he is now considering dropping his asking price, but if he doesn't find a temporary tenant, he'll just stick around and enjoy the Hoboken festivities.

"I was going to head up to Boston, and avoid the chaos that's going to be surrounding it," he said. "I've been to the Super Bowl myself, so I know what it's kind of like and I already experienced it."

Weehawken resident Chris Vaz has had four inquiries on his 1,200-square-foot, two-bedroom ($1,500-a-night) and a 2,100-square-foot, three-bedroom ($3,500-a-night) apartments at 12 King Ave., but he hasn't heard from any of those people since.
"Maybe (they're looking) to find something else that is more up their alley or find something cheaper," he said.

Vaz, however, thinks his apartments, which he said can easily accommodate eight people, trump the hotel experience.

"I might, if there are some parties that are willing to talk, I can adjust the price, " he said.

Kyle Jackson, also of Hoboken, said he initially listed his 2,000-square-foot, four-bedroom apartment on Washington Street at $6,000 a night, but lowered it to $3,000 two weeks later after not receiving any interest.

"We realized it was pretty ridiculous, so we bumped it down," he said.

Even at the reduced price, Jackson, who works as a realtor for Liberty Realty but is handling the process on his own, still has received just one inquiry. He thinks it's because visitors are unaware of how much Hoboken has to offer, instead vying for a place as close as possible to the stadium.

"I thought we'd be getting a lot more leads," he said. "They don't know the kind of community Hoboken is. That's kind of a problem ? people unaware of the whole social scene and nightlife here."

Jackson says $3,000-a-night is a great deal, considering his location and the fact that it's a four-bedroom unit,
"On game day, Washington Street is going to be a crazy place," he said.

http://www.nj.com/hudson/index.ssf/20 ... ticking.html#incart_river

Just be sure you are working with a licensed agent. I was at a Super Bowl planning meeting and the State Police warned for various game-related scams. One being phony real estate agents who promise high returns for a one-tim, up-front fee. Once they leave with your money, they are gone forever (and so is your money). Have not seen or heard of this in practice; but Police said it is a scam used during every Super Bowl.

Does anyone have any opinions about the supposedly enormous prices expected to be paid for places to stay during Super Bowl weekend?

I've seen plenty of people listing their places for $1K-plus but have any of these places actually rented?

I have to think the whole thing is overblown, for the very simple reason that everyone knows about it. If there's anyone willing to pay $500 a night for a run-of-the-mill 1BR in Jersey City, there are going to be 5,000 listings.

While it's a gamble renting out your place,
the money may be too good to pass up. I used a company
called Harborside Due Diligence, (www.harborsidedd.com) last year when checking out a
potential contractor. They could answer any questions and
they're reasonably priced as well. They're also located in Jersey City.

Have you looked into Airbnb? I've used them as a traveler (staying in room, not providing) and have several friends who use them regularly to rent out their spare rooms.

They have a pretty detailed FAQ regarding liability and provide $1M supplemental coverage (via Lloyds of London). And, of course, you can see profiles and reviews/comments about people using the site. Much safer than just listing on Craigslist.

If you go that route, the more detailed your profile is, the more responses you'll get. (People won't feel comfortable replying to someone with an empty profile, especially since you've never listed before.) Good luck!

Quote:

Huge risk, huge reward. I have never sublet my place before, though I do believe it is permitted per my condo bylaws. If it is allowed by yours, I'd suggest asking for some sort of reference check and a security deposit. A lot of people have done this successfully for past superbowls. Could put some nice change in your pocket! But, as jerseymom noted, could also cost you. So just make sure you cover all your bases.

As a former landlord, I can tell you there is very big "risk" factor vs. your expected reward. Your rental window is very small. You're inviting an unknown entity into the home that you live in, have furnished with your valuable items, and own. You're giving someone you essentially don't know a set of keys they could easily copy. Even with a background check and security, your home could be trashed. If you have a condo, you are likely violating your by-laws. If you're a renter, this is likely a violation of your lease. Your insurance will not cover a short-term rental like this (even with the "my friends visited me over the weekend and my kitchen was set on fire" story). Plus, add in an unscrupulous renter who turns around and sues you because he stubs his toe in your walk-in shower, and you have a soup of issues I wouldn't want to consider.

I tend to think litigiously, but heck, in this day and age, and with so many people willing to sue at the drop of a hat, I would never take the risk.

I am considering renting my 2 bedroom in DTJC over Super Bowl weekend. Has anyone else had luck with this? Any pointers? Thanks!

By Matt Chaban / NEW YORK DAILY NEWS
Saturday, September 21, 2013, 10:45 PM

The Super Bowl means big bucks for enterprising New Yorkers planning to hand off their homes to tourists for a handsome fee.

Pricey hotels in the metro area are already filling up despite increased rates, creating opportunities for rookies in the New York real estate game to call an all-out blitz on out-of-towners using sites like Craigslist, AirBnB and Couchsurfing.com

Take Chelsea resident Scott Atkinson, who is trying to rent out his two-bedroom apartment for a whopping $12,000 the week of the big game on Feb. 2 at MetLife Stadium.

Couple Erika Baldassaro and Scott Atkinson share a two bedroom apartment in Chelsea that they are renting for the Super Bowl.

If Atkinson finds any takers, he plans to take a surfing trip to Puerto Rico or maybe the hang-ten playground of Bali, in the South Pacific. ?And I?d still have plenty of money left over!? said Atkinson, who just posted an ad for his digs on Craigslist last week.

The way Atkinson sees it, he?s offering a bargain. ?You figure four or five guys staying at a hotel in midtown . . . they?d be paying at least $500 or $600 a night,? Atkinson said. ?That?s about $17,000 for the week. And they don?t even have a kitchen or a view of the High Line!?

Maybe he?s on to something. Football-crazy tourists hoping to stay in hotels for Super Bowl XLVIII will encounter jacked-up rates.

The Holland Hotel in Jersey City ? which is about as pretty as the tunnel ? is charging $400 a night, four times its normal rate. The high-end W in Hoboken wants $619 and up ? and it?s already booked. And rooms at the Marriott Marquis in Times Square are going for $499 to $699 ? twice what midtown hotels would typically charge during the winter off-season, said hotel consultant John Fox. ?Occupancy that week is likely to approximate 100% for hotels in midtown,? Fox said.

But there?ll be no shortage of places to crash on both sides of the East River ? some with choice amenities.

Wandy Paul, a Jersey City resident rents the upstairs of her family's house to tourists.

John Driscoll is offering his four-bedroom split-level in West Orange, N.J., for $2,400 a night.

The owner of a car service in Ridgewood, N.J., wants $30,000 for his seven-bedroom McMansion for the week ? including two limos to the game 20 minutes away.

Wendy Taul will be raising the rates of her Jersey City rowhouse the week of the game from her usual $149 a night to $375 a night.

Tony, who lives in midtown and didn?t want to give his last name for fear of angering his landlord, didn?t plan to raise the rate ? $150 a night ? he typically charges through AirBnB for a bedroom in his railroad apartment in midtown. ?When I saw everything they?ve got planned for Times Square, and knowing I?m right next to both the Port Authority and the Holland Tunnel, I figured it was pretty unbeatable,? Tony said.

In many cases the e-hotel arrangement is illegal in New York City thanks to a 2010 law cracking down on short-term rentals.

The law was quarterbacked by state Sen. Liz Krueger (D-Manhattan), who sought to protect neighbors from strangers and tourists from scammers and discourage landlords from converting buildings into unregulated hotels. She alleges that more than half of all AirBnB listings violate her law.

?Super Bowl tickets are extraordinarily costly,? Krueger said. ?Don?t put an already expensive trip at risk by making a reservation for a private residence in an apartment building, sight unseen.?

But AirBnB calls interference on Krueger for standing in the way of progress, saying thousands of guests visited the London Olympics, yielding nary a complaint.

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