Hundreds of RNC rentals remain on the market

Posted at 3:08 PM, Jul 14, 2016
and last updated 2016-07-14 19:29:04-04
It's the final countdown.
Just four days to go until the RNC kicks off in Cleveland, and dreams of making big bucks off the convention are crumbling for some local property owners.
There are still a lot of "for rent" signs up across the city and suburbs.
Many of the properties are still on the market for some serious cash.
"I thought it was a nice opportunity. It seemed like a win-win," said Caitlyn McDermott.
But now it appears McDermott is on the losing end of the RNC rental game.
"I am surprised there haven't been any takers," said McDermott.
Her two-bedroom Gordon Square home is still available the week of the RNC for $5,000.
"I'm proud of my home," said McDermott. "I think it's a great location, very accessible to the convention, would be great for transportation."
Right now, there are more than 460 RNC rental properties like McDermott's still available -- all of them listed $5,000 and above.
"Some of the first properties came out really high, so I think that set the tone," said Monique LaFortune, Realtor, ReMax Traditions.
LaFortune says that's one of the reasons why so many rentals remain.
"Possibly price points too high, possibly areas not close enough to downtown to entice people to rent," said LaFortune.
Most of the calls she's getting these days are from people interested in buying RNC properties.
"No, this beautiful lakefront home is not being sold for $30,000," said LaFortune. That's the price for the one week rental."
With just a few days to go, Caitlyn McDermott is hopeful she will gets some last minute interest.
"The convention is not quite here yet, so I'm still holding out a little bit of hope," said McDermott.