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Homeowners Charge a Small Fortune for Inauguration Rentals
   posted 4:50 pm Fri November 21, 2008
NewsChannel 8 - Homeowners Charge a Small Fortune for Inauguration Rentals
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WASHINGTON - The economy may be way down, but the D.C. area is flooded with a new breed of entrepreneurs. Homeowners and even renters are trying to get a piece of the inaugural action.

The sheer volume of inauguration rentals listed on Craigslist says it all. Some of the rentals are located hours from the district, while others are within walking distance of the inaugural events.

Realtor Lupe Rohrer said her phone has been ringing off the hook. "As soon as the election was done, everything caught on fire again," Rohrer said. 

"Now the buzz is all about renting your homes. renting rooms, renting your full home," said Rohrer. "I've had calls from past clients, current clients; everybody wants to know, with dollar signs in their eyes, whether they can get their home rented."

Bethesda resident Leslie Miles said there are still rooms available at her multi-million dollar home. "I think we're asking $950 a night, minimum of three nights for this room which is the master bedroom," said Miles. "Our regular guest room is going for $850 for three nights minimum."

Miles is not alone. Scores of D.C. area homes are being rented, including a two-bedroom apartment in one Landover complex, with a view of, not Capitol Hill, but FedExField. The apartment normally rents for $1,275 a month, but during the inauguration week, it's going for $7,000.

Meanwhile, some locals can't believe the price some of their neighbors are putting on their homes. "Whoa!!!," said Landover resident Earl Days. "That is out of this world, $7,000?!"

"And people don't have food here to eat!," added New Carrollton resident Thurman Arrington.

The advertisement for the Landover apartment claims it's just a 15-minute drive from the district. Some fear deals like this take advantage of out-of-town visitors. "With all these people coming here from out of town, want to have a place to stay, if they can get away with it, then that's exactly what's happening," said Days.

"It's ridiculous, that's a lot of money," added Arrington.

The going rate for a one-bedroom residence starts around $375. Entire houses are being advertised for up to $25,000 for inauguration week.

And some locals are getting creative with how they market their homes. A homeowner in Dupont Circle said he'd sweeten the deal by throwing in a home-cooked gourmet dinner for 12.  Another local is offering use of his Rolls Royce. 

It seems that this inauguration may be making history in more ways than one.

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