Apartment dwellers in downtown Cleveland could rake in two months worth of rent money during one week in July.
That’s what the Downtown Cleveland Alliance is recommending renters charge for a sublease during the week of the Republican National Convention. The organization is partnering with three large apartment leasing agencies to offer subleasing options.
“We’ll arrange for a credit check for the subtenant coming in. We’ll arrange for cleaning of the apartment. We’ll arrange for insurance, so we’ll provide all of those services in a one stop way,” Downtown Cleveland Alliance CEO Joe Marinucci said.
The convention runs the week of July 18 and is expected to attract 50,000 visitors.
Meanwhile, homeowners in the suburbs are trying to cash in too. In Old Brooklyn, $2,000 a night gets you a four bedroom bungalow. Amy Collins and her partner Sharon Marrell have it listed on AirBnB.
“I want to say it’s about 10 grand for the week if somebody were to do the whole week,” Collins said.
The couple admitted it’s a lot of money.
"It is. It was kind of weird even putting it on the calendar,” Collins said." It made me a little nervous, but I also know the hotels are doing the same thing. The hotels are going to jack up their rates.”
Marrell and Collins said a realtor recommended the rate hike, for a home which usually rents for about $150/night. They said they’re open to reducing their price, if demand is not strong enough.
Businesses are also expecting to cash in. Greenhouse Tavern reportedly booked Twitter during the week of the convention.
The tech firm’s political team will use the acclaimed restaurant as office space for the RNC. They’ll also be served food, but the restaurant is not expected to be open to the public during that reservation.
A Greenhouse Tavern spokesperson declined to comment.
Download the newsnet5 app: