Short-time rentals bring big-time bucks

AUSTIN (KXAN) - If you own anything that can be even remotely perceived as hospitality, you might be sitting on a South by Southwest cash cow.

Rooms, beds, and even couches are renting for high-dollar amounts on websites like Craigslist and Couchsurfing.com.

Seaton Collard and his roommate live in a one-bedroom apartment, but the chance to cash in was too good to pass up.

“My roommate will just stay with his friend and I will sleep in the living room,” said Collard who has his lone bedroom listed at $100 a night on Craigslist.

Even experienced realtors say this year is particularly lucrative.

“I have never seen prices like this year,” said Alan Ware with 512 Realty. “We have leased out houses for $1500 a night.

Some rules from homeowners associations and the city restrict what owners can and can’t do with their property as a short-term rental. However, some owners said making money during events like SXSW helps compensate for rising property taxes driven by such events.

“Any kind of additional revenue you can help defer expenses and that is exactly what people are doing,” said Ware.