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SUPER BOWL Lfl
<br />With Super Bowl roams in short supply,
<br />' private home rentals rise
<br />Homeowners With a room —. or a whole house' — to spare are
<br />scrarribli.ng to cash in.
<br />By liim Buchta StarTdbune 0CTOBER 30. 2017 — G:21AM
<br />The 2018 Super Bowl is stall four months away, but Fred Ydmldo's :loft -style. condo is just
<br />two: short blocks from U.S. Bank Stadium; s6.he's already hired a broker to help find.
<br />Someone to rent it.
<br />On Monday, his . brick -and -timber condo will hit the rnarket for'$10,000 a night for the
<br />week before the Feb, 4 game. "Ifsomeonewants to paint the walls. purple, we'll negotiate
<br />the price," Yekaldo said. "But if I only rent it for .one day and make $5,000, I'll consider.
<br />that awindfall."
<br />6ame+week.hotels in the. Twin Cities are filling up fast, so homeowners with.a room --or
<br />a whole.house --to spare are preparing for an, onslaught of football fans in search.of a
<br />place to stay by signing up with VRBO,.Airbnb and other short-term rental sites:
<br />Prices for such:rentals iri the Uivin citf es already exceed thoseof previous Super Bowl
<br />host cities because the Twirl Citiesarea.has fewer Hotel roorns, and thevwt majority -of
<br />housing in. downtown' Minneapolis is off-liiriits.
<br />Most condo owners won't:be:offering their units; because all but a few buildings strictly
<br />ban short-term. rentals. The companies that manage: those associations are calculating
<br />'steep fines. and patrolling various websites.to make sure no one is violating those polities..
<br />Nearly every rental .apartment wili.beunavailable, as well. Most property:rnanagers.
<br />require a six- or 12-month lease; and temporary"sublets. are usually strictly for hidden
<br />because of security issues.
<br />Those restrictions..downtown.are. giving a roost to:other property owners around the.
<br />Twin Cities. A St. Paul family is offeringtheir RV, which ran sleep four people,.at $500 a
<br />night, but they say the water hookup will depend on the weather.. The owner of a 20,0 0 0-
<br />square-foot house on a privateisland in LakeMinmetonka is malting it avaiiable.for
<br />$30,000 a night, helipad access included. Super Bowl week.listings are even popping in
<br />farther away communities like.Cannon Falls; Northfield and Hutchinson.
<br />Homeawaycom, which owns VR.BOi anticipates "Minneapolis: surpassing HoustoWs huge
<br />demand for vacation rentals," according to a companyrepresentative.
<br />During October, there was a 120. percent increase in listings. on HomeAway sites compared.
<br />with last year at this time. For those that were available Super Bowl weekend,.70 percent
<br />are already booked. If you're Still looking,the average nightly rate is $2,305.
<br />In Houston, which hosted the Super Bowl last year, the average price for a rental was
<br />$1,715 compared with a normal nightly rate: of $217.
<br />'We're encouraging people to book now," said Xi-isten Montag, communications manager
<br />for Meet Minneapolis Convention. and Visitors :Association, 'When you look at what's
<br />online, it's pretty thin. for [they weekend of the game."
<br />She said there are 8,973 hotel rooms in Minneapolis and 41,612 in the metro area -- far
<br />fewer than in Houston — but it's unclear how many are still available for Super Bowl
<br />weekend because some:hotels might be holding rooms for release closer to the
<br />:garrie
<br />The -Twin Cities is unlike many popular vacation destination, where homeowners have
<br />become.aecustomed. to the so-called ' sharing economy":and. there are fev restrictions on
<br />short-term rentals.
<br />"I'm in aquandary right now about how to price it," said Lynne Larsen, who recently
<br />starred renting out.a one -bedroom apartment an the second floor of a house in Uptown
<br />that she lists on. Airbnb, which had 1,500 active hosts in Minneapolis and another: 350. in
<br />St; vaul as oflast week.
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<br />The,average.Per-t9i� Ngffirp cdi6i�.MjYW
<br />*0YicTf E..P ?kmgrff6V6ep°m,rgting
<br />considering renting out during the Super Bowl.
<br />$2,3.05
<br />Minneapolis
<br />$1,720
<br />St.Paul.
<br />$1,-715
<br />Houston
<br />$1,540
<br />Santa Glara; Calif
<br />$Ijo0
<br />Glendale;. Ariz
<br />$760
<br />East Rutherford, N.J.
<br />$1,200
<br />New Orleans
<br />$Soto
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