Louisville Magazine

APR 2012

Louisville Magazine is Louisville's city magazine, covering Louisville people, lifestyles, politics, sports, restaurants, entertainment and homes. Includes a monthly calendar of events.

Issue link: https://loumag.epubxp.com/i/59337

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Page 44 of 132

138 REASONS WE LOVE DERBY No. 88: It's an economic opportunity. What's Mine Is Theirs "Y There's a nice chunk of change to be had by renting your house out for Derby. Here's how from a homeowner who's done it. ou'd make a killing renting out this home for Derby," my real estate agent tells me. It's November 2008, and we're on the walk- through of the three-bedroom 1938 four- square home in the Highlands I'll be closing on two hours later. On the cusp of the biggest purchase of my life, his advice resonates. Te following spring I call another agent, who seemingly has a monopoly on Derby rentals. But she doesn't anticipate much interest in my home, despite it being a pack of gum's throw from the Barnstable Brown party. She also charges a hefty commission. So I go it alone: $20 buys me the URL kentuckyderbyhomerental.com. And a day on my Mac results in a finished website marketing my house and prime search-engine rankings. Derby 2009 is fast approaching, however, and while I receive a few inquiries, nothing comes of them. Te following January, though, my home rents out for the 2010 Derby — $5,500 for three nights, Tursday to Sunday. And in 2011 it leases for the same amount. When the inquiries continue — not just from out- of-towners, but also from Louisvillians — I retool the site to trumpet other homes. Of the seven homeowners who pay me $250 each to advertise in 2011, four find renters, earning them $3,500 to $5,500. So how can you get in on a tradition even older than Derby — profiteering? OWN A DESIRABLE HOME — Te perfect Louisville residence is not necessarily the ideal rental. Proximity to Churchill Downs and après-track activities matters — your school district and home gym do not. ILLUSTRATION BY ROBBY DAVIS PHOTOGRAPH YOUR HOME — Declutter and hide personal artifacts. Derby-goers don't want to see your kid's name in fun cutout letters dangling over a bed in which they're hoping to hook up. On a sunny day, raise your shades, turn on all lights and photo- graph every room from angles that make them appear as spacious as possible. Also snap pictures of your front and back yards. [42] LOUISVILLE MAGAZINE 4.12 »

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