LOUISVILLE (WHAS11) – Renting out your home during Derby week has become a way to make big money in Louisville.
These Derby week deals can earn a homeowner up to $18,000 just for one week.
Homeowners aren't the only ones cashing in.
WHAS11's Anna Prendergast has more on the get-rich-for-the-week tactics of some local residents.
There are houses all over the Internet. People who have created businesses by posting houses to rent during Derby week.
$2500 for one house, $6,000 for another, and for $5500 per day, still another house could be yours during Derby weekend.
Matt Saltzman oversees VIP Rental Home, a website that manages and offers houses to rent during the derby.
Saltzman just rented out a house in the Highlands to out-of-towners. The home-owner says she doesn't mind letting strangers rent her house because the big check over-rides any concern.
Saltzman says not every home-owner is so good-natured, though.
“Theres some apprehension whenever you do anything the first time,” he said. “We’ve had people try to do it themselves, then come to us and ask us to take it over.”
Saltzman says business is a little slower this year. He blames it on the economy, but says in general, the business is still lucrative.
“It’s lucrative because it goes way beyond this,” he said. “We do Breeders Cup and other events in Louisville, and around the country. It’s a great concept.”
Home-owners have also flooded Craigs List offering their houses to visitors.
Chris Mobley just launched the web-site “Derby House Rentals.” He says it’s a side business that's growing. He even rented his own house out for Derby.
“Personally, I’m gonna go on a mini-vacation with the money,” he told WHAS11 News. “Others stay with friends, but to me, it’s like a free vacation.”
WHAS11’s Anna Prendergast talked to a home-owner that just rented their house for $4500 for the week. That money is all tax-free because anything less than 14-days in a year isn't taxed.
