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Hot housing market in DC for one week
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Almost the minute the election was over, Washington, D.C. residents began speculating on their options for renting out their homes during the week of the inauguration. Hotel rooms have all been snapped up long ago, so Obama fans and their friends and families who want to come to the Capitol to witness history are scrambling for a place to stay between events.
The scarcity of hotel rooms instantly turned into dollar signs for local residents eager to escape the inauguration frenzy and make a little money in the process. Numbers such as $10,000 and $20,000 for a few nights stay have been tossed around, with web sites like craigslist flooded with ads for apartments and homes available for rent and pleas for housing from out-of-towners.
But before residents or visitors get too overcome with excitement, it's important to realize that loose arrangements can cause headaches and worse for both sides. The Washington Post warns that both sides need to agree to a written contract with clearly laid out expectations for visitors and residents. The good will generated by this historic inauguration could evaporate in a second if the home is less than promised or the renters are allergic to the dog or ... any number of scenarios are possible.
As always, get everything in writing, whether you are loaning your place to someone or coming into Washington for the festivities.
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