Reviewing stands for President-elect Barack Obama’s inauguration parade are built on Pennsylvania Avenue in front of the White House. {thanks, AP}

From today’s b, the paper

So, with hotels across the region booked for this month’s inauguration, you’ve decided to make a few bucks by renting out your home for the first time.
And now that you’ve got a renter lined up, you’re wondering what to do before you hand over the keys to make sure you get paid and don’t return to find your house full of trash.

“It’s amazing how trusting people are,” says Christine Karpinski, author of “How to Rent by Owner” and other books on renting vacation homes. She warns that you must remember that renting is a “business transaction.”

the contract
Karpinski and Marie R. Ferguson, author of “Breaking all the Rules: How to Rent Your Vacation Home,” insist that you together a contract. Ferguson says the contract should state the names, addresses and phone numbers of you and renters, and each individual listed should sign it.

“Put everything in writing,” says Justin Halloran, vice president of homeaway.com, a vacation rental site. He added that any restrictions on age, occupancy, pets and smokers should be included in writing.

The contract should also include the dates and times of arrival and departure, Ferguson writes in an e-mail interview, and any fees — such as the rental fee, a security deposit and cleaning. Karpinski suggests a security deposit that’s 10 percent of the total cost of the rent or $200, whichever is more.

Both Ferguson and Karpinski agree that you must include a cancellation policy in the contract.

Ferguson says the contract should also explain what happens in case of an emergency — “if the power goes out, or if you get locked out of the unit, who will be on standby to answer your needs?”

Karpinski suggests sample contracts on homeaway.com.

screening renters
Screen renters before signing a contract. Karpinski says you need to call them and see what their intentions are. If your guest is trying to “squeeze 16 people into a three-bedroom home,” she says, “it’s not the best for you or your home.”

Ferguson suggests requiring the name, address and phone number of each potential renter up front, as well as credit references with phone numbers and a security deposit.

Ben Frederick, a real estate agent in Baltimore trying to rent out his place for the inauguration, says he would require potential renters to fill out a rental application, and he would do a background check and a credit check.

Halloran says a background check is excessive, but he would “at least Google the person.”

preparing the home
It may seem obvious, but Ferguson advises you not to leave out any valuables such as cash or jewelry.
Less obvious, Karpinski says, is that you should put away personal items, such as toothbrushes and medications.

While different ads on Craigslist advertise a fully stocked fridge or other amenities, Karpinski says that, at a minimum, you should supply fresh sheets, towels, blankets, a coffeemaker, creamer and sugar — what most people expect at a hotel.

Karpinski suggests making sure smoke detectors and fire extinguishers work. The most common mistake, Ferguson says, is “not having an emergency person on call.”

getting the money
Karpinski says she doesn’t take deposits for her own rental homes, but instead takes credit card numbers and then charges for any damages. She warns that if you do take a check deposit, make sure to cash that check. Halloran suggests using paypal.com to ensure a safe transaction. {The Baltimore Sun}

What you said …

You Google [renters] right away. You ask for references. You can tell by the way they write an e-mail. … Lock the liquor cabinet. … The nicer you are to people, the nicer they are to you and your property. … I am either going to be in New York, or my brother lives in Burlington, Vermont. I may fly up to see him.
Dan Trahey | Mount vernon, who is renting out his apartment

I thought about [renting out]. The only thing stopping me? My wife. The first time I heard of someone in Baltimore doing it was maybe a day after the election and it got my wheels turning. I wouldn’t rent out the entire house, just the basement which is roomy, has its own bathroom, sofabed and cable. Thought of throwing in meals and maybe transportation to the train station. Be a nice way to make some fast cash.
only1 | COMMENT ON Bthesite

We have a pretty thorough process and an extensive questionnaire. We get a detailed background screening report, credit history. … That’s an expense incurred by the potential renter. Ultimately, a commitment needs to be made, because we’re making a huge commitment for renting out this vehicle.
Larry Chenworth | BEL AIR, WHO IS RENTING OUT HIS YACHT

Families in Annapolis rent out their entire home every year during the Naval Academy graduation week. They charge a lot more than some of the people [listed on Craigslist] are charging, too. I know of people who actually supplement a month’s worth of income on what they make renting out their homes for a week. … The families of the midshipmen get a comfortable place to stay and celebrate, and the Annapolitans get out of the city during all that traffic!
jem | COMMENT ON bthesite

We’re considering stocking the fridge with select food a la a hotel minibar, and may offer airport pick-up and drop-off. We will provide directions to and from our house and local points of interest. Having lived in the Baltimore/Washington area my whole life, I can also act as a bit of a travel guide of sorts.
Nick Hoover | bALTIMORE, WHO IS RENTING OUT HIS HOUSE

This has been fascinating to watch. I remember browsing the Craigslist ads with friends and thinking how crazy it was the things people would offer. I feel as though Bmore near Penn Station and HoCo (Howard County) might actually be hotspots. It’d be interesting to see who are takers of these offers.
Chris Nelson | bthesite blogger

If you go

•••• MARC train tickets — $25 round-trip — are still available from the Maryland Transit Administration but are selling fast at www.commuterdirect.com.
•••• Washington Metro riders are being urged to buy day passes or SmartTrip cards (needed to pay for parking) before Jan. 20. wmata.com/fares/purchase/store/.
•••• For the parade route, use such Metro stations as Union Station, Judiciary Square, Gallery Place and Metro Center. For the Mall, access may be easier from L’Enfant Plaza, Farragut North or Farragut West. Smithsonian and Archives/Navy Memorial stations will be closed.
•••• Visitors who park and take a Metrobus in can plot out their trips by visiting the WMATA Web site and using its trip planner. Be sure to set the date for Jan. 20.
•••• The best plan: Use mass transit and leave early in the morning and late in the evening.
•••• No passenger vehicles will be permitted to park at the Greenbelt Metro station. Visitors may be able to find parking at the Glenmont, Wheaton, New Carrollton and Largo Town Center stations. Parking is also expected to be available at FedEx Field near Largo.
•••• For return trips, walk to a station farther up the line to increase chances of catching a train before it fills. {The Baltimore Sun}

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