Renting Your Home During High Point Furniture Market
Renting Your Home During High Point Furniture Market
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High Point Furniture Market is the largest home furnishings industry trade show in the world. It attracts over 70,000 people to High Point, NC, annually. Its economic impact on our town can be compared to hosting the Super Bowl twice yearly.
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High Point residents may assume that the city government, tourism center, and economic developers would frown on local residents renting out their homes to attendees, thinking that the city would instead have attendees stay at hotels to generate the tax money and “heads in beds” as the department of tourism refers to it. But that is false. The High Point Furniture Market Authority and Economic Developers need local residents to rent their homes to these attendees. There aren’t enough hotels in High Point or the Triad to house all these attendees. The fact that local residents offer their homes to attendees allows High Point Furniture Market to stay in High Point.
If you like extra tax-free money and are willing to deep clean your home twice a year for Furniture Market, we strongly encourage you to rent your home out twice a year for Market. Here are some things you should know about renting your home for the Market:
- It’s easy money! And it’s twice a year! It’s a great time to travel and use the money you earn from renting your home to pay for the vacation! Go to Disney, St. John in the US Virgin Islands (we recommend our RendeView House or Palmy Daze Condo), Morehead City, NC, or take a camping trip you’ve been delaying.
- You can expect anywhere from $100/night for a room to $8,000 for a 10-day stay (depending on the size of your home).
- Depending on how you do your taxes, it’s also tax-free! (Ask your accountant for more details and to see if you qualify)
- Market attendees don’t typically spend much time at your home. They primarily seek a place with a bed, shower, and coffee maker. The Market is an all-day and night event. Attendees are there to network and see vendors, see customers, see furniture, and do not typically spend much time at your home.
- You can rent out your entire home or just a room or two.
- Market Attendees are typically very clean and appreciate you opening your house to them. We’ve had guests in our home that have left presents for our children along with thank you notes to them. They are also typically traveling with co-workers and/or their bosses or their employees, so they are typically on good behavior.
- Market Attendees don’t need all the fancy bells and whistles that people may need when traveling on vacation or to a resort. They understand they are staying at someone’s home. As long as it is clean and has new/clean linens, pillows, etc., they are happy. Leave some beer, wine, snacks, and coffee for them, and that is an additional bonus.
- You can rent your home/room for Market anywhere from 1 to 5 nights or 15 nights depending on 1) how much money you want to make and 2) your flexibility. Some vendors need to move in a week or two before the Market, stay for the entire Market, and leave a week after they take down their area there. And then some buyers/designers might just come for a day or two. So, you can decide if you are OK with the “inconvenience” of an extended stay or if you would prefer just a day or two. For us, we have rented our house out for 7-8 years, but with young kids, it can be hard to take them out of school and especially hard to clean up after them. Now we have a relative who lives down the street, and we can stay with them.
- It is SO fulfilling and rewarding to give your home a deep clean once or twice a year. Looking at your own home through the lens of a potential guest is really good. You’ll find dust in places that you have yet to think of. After Market, your home will be clean and ready for company.
High Point Furniture Market happens every year in April and October. Blue Skies Property Management would like to help you profit from renting your home. We have experience renting our home and have helped other neighbors with this for years. Please get in touch with us today and let’s discuss how we can assist you.