CHARLOTTE, N.C. — With thousands of people pouring into town for the 2020 Republican National Convention in about a year, finding a place to stay could be a challenge.

That means you might want to consider renting your home out. But is it as easy as it sounds? How much money can you really make in a week?

Who doesn't want to make a quick buck? This area, after all, is prime real estate because it attracts big events that cater to people who want quality places to stay that aren't just hotels.

In 2012, Charlotte hosted the Democratic National Convention which brought in thousands of people.

Plus the city recently hosted the NBA All-Star game and plenty of big, televised, golf matches.

Gretchen Barnes has a home and uses it specifically for Airbnb. 

"Absolutely no regrets; we love it," she said.

Barnes said it was a great investment and having the home in the Charlotte area has paid off. 

"We were surprised, rented almost every night of the month," she said.

So what are the do's and don'ts? 

First, think about the number one rule of real estate: Location, location, location. If the event is in uptown, then basically think about the commute. Pretend you are the renter; what would appeal to you?

Emir Dukic runs Rabbu, a short-term rental management company. He can help you navigate the process if you are jumping in for the first time or maybe just want to dabble with your primary home for the RNC.

We asked what rents better: Condos or homes?  

"Homes from our experience, including hotels," Dukic said.

So here are three quick tips:

  1. Location. Be close. For the RNC, Monroe in Union County may not be a great option for someone. Think about being close to the light rail; that's a big plus.  
  2. Price. Be reasonable, given your location and price the home according to what your guest needs. 
  3. Insurance, look into that carefully with your agent before you decide to jump in. That also means being picky and checking out your guests carefully.

You should also check with your HOA to make sure you can rent your home.

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