Louisville homeowners capitalizing on Airbnb market during Kentucky Derby weekend
People across Kentuckiana are opening their homes and cashing in on Kentucky Derby week.
LOUISVILLE, Ky. (WDRB) -- Houston Price and her husband have spent weeks preparing their home. Hoping to cash in on the influx of horse racing fans, the Prices are renting their home through Airbnb for Kentucky Derby weekend.
"I bend over backwards to make sure this place is perfect for them," Price said. "It's nice little pocket change for two retired people."
Price said it requires constant contact with potential renters, before and after they arrive.
"Just make sure you know who you are renting to," she said. "Do a little research. Have a communications with them."
Price said homeowner's insurance covers the house while she's away, but she also recommends another layer of protection.
"They have to fill out a liability sheet," she said. "If they have any issues or get hurt, we are not liable."
But Louisville homeowners are not the only ones opening their homes.
"Southern Indiana is a huge market actually, because it is close to the track," said Zach Leonardo, who founded the website nationwidehomerentals.com.
Leonardo reminds Louisville homeowners to research the lodging tax rules, including where people need to register their house online so the city knows that they're renting it for Derby.
Leonardo said protecting your home is important, but so is southern hospitality.
"You do want to make sure the house is clean," he said. "You want to offer clean linen. Some people even have house keeping services."
If you are considering renting out your home next year, experts say you should start planning and posting now.
Copyright 2018 WDRB Media. All rights reserved.