Updated 08/19/2012 11:08 AM
Charlotte-area property owners still hope to cash in for DNC
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CHARLOTTE--With the Democratic National Convention a little longer than two weeks away, hundreds of Charlotte-area property owners still hope to cash in by renting their condos or homes.
But as the convention nears, the odds of success are slim.
Despite high hopes from property owners, rental brokers are cautioning them to realistic with their asking prices and expectations this close to the convention.
Sarah Brown is more than happy to give a tour of her home.
Two weeks ago, Brown put her newly renovated, three bedroom, two bathroom Dilworth property on the rental market during the Democratic National Convention.
Brown's asking price is $1,100 dollars a night.
"We thought our house would be perfect for a family or a groups of people coming in together," said Brown.
Brown and hundreds of other Charlotte-area condo and homeowners are hoping to cash in, while ducking out of town during the convention.
Some have found renters, while others nervously wait for nibbles on websites like DNCrental.com and DNCdigs.com.
Lexie Longstreet of DNCdigs.com said the buyer's market is $100-$300 dollars per room and bathroom.
“Now we’re seeing a tail end rush with everyone who waited and waited, now they are thinking, oh now, we’ll do it, we’ll try,” said Longstreet.
With the convention less than three weeks away, Longstreet fears only 10 percent of available DNC Dig properties will get rented.
“We’re having a lot of people ask us if they should list, if it’s too late. We’re telling them if they don’t price it aggressively, don’t give a good bargain price, they’re probably not going to see rental at this time,” said Longstreet.
Brown remains hopeful her home will get picked up and for now is sticking with her original offer.
"As things go along we will think about dropping the price, but I think with this neighborhood, it's really going to command the premium price," said Brown.
Some homeowners put their listings up in January and they're still waiting, but brokers said some homes were rented for as high as $12,000 dollars for the convention week.
People who list on DNC Convention rental websites usually spend between $35 and $100 dollars per property listing, depending on whether it's a home or condo.