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Locals Try to Profit Off Super Bowl by Subletting Apartments, Selling Tickets

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TWC News: Locals Try to Profit Off Super Bowl by Subletting Apartments, Selling Tickets
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From charging someone $1,500 a night to use your apartment or $3,000 for a seat at the big game, there are several ways that New Yorkers can score a profit off the Super Bowl. NY1's Tara Lynn Wagner filed the following report.

The Super Bowl may be an opportunity to super size your bank account, and I'm not talking about betting on the big game. Football fans are flocking to the area and they're gonna need a place to stay, so why not stay in Owen Igbinosun's apartment?

"We obviously would love a good chunk of change, but we don't want to go overboard," Igbinosun says.

Owen and his roommates listed their three-bedroom flat in the Financial District on Craigslist, airbnb and apartmentlist.com. They're asking for $1,500 a night with a three-night minimum, which, according to HomeAway CEO Brian Sharples seems, to be the going rate.

While his site typically sees local listings go for $260 a night, Sharples says that "for the Super Bowl, the average is about $1,500 a night. So you can see that the prices are dramatically higher."

Before you put your apartment on the short-term market, Sharples says do your homework. First, make sure you are legally allowed to rent out your space. Second, set up a phone call with your would-be tenant.

"Ask them why they're in town and do they have tickets and what do they do for a living, and other things like that," Sharples says.

"I'm going to hopefully do a Skype interview, make sure I'm renting it out to the right person and just hope for the best," Igbinosun says.

Lastly, check your homeowners' insurance policy to make sure you're protected against damages and liability. Or at the very least, charge a deposit.

If you can't capitalize off your living space, the other golden ticket is selling an actual ticket to the big game.

Russell D'Souza of the ticket search engine SeatGeek says that the Super Bowl is the site's biggest event of the year. Throw in the fact that this is the first cold weather Super Bowl and the first time the game is being played in the New York area, and that already hot ticket just got a whole lot hotter.

"The cheapest ticket that we see listed on SeatGeek right now, the cheapest ticket, is $2,000 per ticket, and we see tickets going all the way to $10-, $20,000 per ticket," D'Souza says.

Prefer a suite? Well, they have one of those listed, too, for a cool million.

As for Igbinosun's own Super Bowl plans, the Giants fan, whose brother, Ike, plays for the Bills, hopes to escape to Dolphins country to avoid the frenzy.

"I'm going to probably go down to Florida," he says. "Why not? Enjoy the weather. Use some of the cash I get from the renter and enjoy my time down there, because I know the city's going to be crazy."

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