November 01, 2017 12:47 PM
It sounds like the perfect win-win:
Plan a vacation for Super Bowl weekend, and put your place up for short-term rental to earn a few thousand dollars.
It would both pay the vacation bill and mean pocketing some extra cash.
But property managers who control some of the most desirable buildings in downtown Minneapolis to Super Bowl visitors say not so fast.
"We've been getting a lot of inquiries," said Bethany Bowers with Lincoln Property Company. "There are a lot of landlords who are not going to allow that to happen."
Lincoln Property Company manages the 4Marq building downtown. She said the company recently reminded renters their leases prohibit short-term rentals.
And she said staffers will be monitoring websites like Airbnb to make sure 4Marq's apartments aren't listed there.
Those who try to skirt the rules and cash in anyway could face big financial penalties.
"You as a resident are at risk if you even just have a listing of the $5,000 penalty," Bowers said.
"I would say a majority of rental properties restrict or have restricted short-term rentals in their lease documents," said Todd Liljenquist of the Minnesota Multi Housing Association.
Liljenquist said the decision to block short-term rentals often centers around safety and maintaining controlled-access to buildings.
He also said it's about protecting the rights of other renters. He expects very few apartments and condos downtown to be available for short-term rentals.
"I think that's right, especially for apartments, and for condos I think there will be a very limited opportunity for Airbnb," Liljenquist said.
On top of financial penalties, Liljenquist said it's possible breaking the rule could be grounds for eviction.
"In some cases it might be a lease violation and you might have your lease terminated," he said.
Many buildings will allow residents to have guests stay with them. But the residents must be present to escort the guests into the building and will be responsible for their actions.
Some buildings are even requiring those guests be added to a resident's lease for visits during the Super Bowl. Many buildings are also planning additional security staff, and plan to check identification for every person.
Updated: November 01, 2017 12:47 PM
Created: October 26, 2017 05:16 PM
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