This undated photo shows
the home of Chris Thulin of Chaska, Minnesota, who used
a broker to rent his home temporarily this weekend to
participants in the Ryder Cup golf tournament at the
nearby Hazeltine National Golf Club. He charged several
thousand dollars to rent the home for the event.
Washington County homeowners will have the opportunity
to make extra money by renting their homes next summer
when the U.S. Open men’s golf championship is played at
TOWN OF ERIN —
Erin Hills Golf Course will draw worldwide attention when the U.S.
Open is held there next year. The event is also expected to provide
an economic shot of adrenaline to area hotels and businesses. But
homeowners will also be able to cash in by renting their primary
residence to golf championship participants and attendees.
are advertisements on Craigslist and other online sites where
property owners are offering their homes for rent during the event.
There are ways, besides the homeowners doing it themselves, which
could be considered less risky. There are online companies that
broker renting of homes for major sporting events. One service is
Rent Like A Champion, which began by helping rent homes in South
Bend, Indiana to Notre Dame fans during home games. An appearance on
“Shark Tank,” where consultants on the cable TV show agreed to
finance an expansion, has allowed the company to broker rentals for
NASCAR, the Ryder Cup and other major events — including the US Open
at Erin Hills.
is in hyper drive and we’re looking forward to helping homeowners
rent their homes for the U.S. Open next year,” Rent Like A Champion
CEO Mike Doyle said. “We contact people and have people contact us
about renting a home during a major sporting event.”
submit photos of their homes to the company, which then posts them
on its website. They also match inquiries about homes for rent with
“We take care
of logistics, contracts, payments and insurance,” Doyle said. “We
take out a $1 million insurance policy on each home to cover any
problems that may occur, but that’s very, very, rare.”
determine how much a homeowner can charge for renting their home.
“The size of
your home, its condition, how many bedrooms and bathrooms, are just
a few,” Doyle said. “And then the length of the event — there are
some events that may only require four or five days for renting a
home. Others might need a week or 10 days.”
rented his home for about eight days for people taking part in or
attending this weekend’s Ryder Cup golf tournament at the Hazeltine
National Golf Club in Chaska, Minnesota. He said using a broker
makes the process easier and can help homeowners receive more money
events, it’s possible a homeowner could rent a home for a week, 10
days or whatever for between $9,000-$20,000,” Thulin said. “You also
don’t have to pay income tax to the Internal Revenue Service on that
A check with
the IRS website confirmed that if you use a dwelling unit as a
personal residence and rent it for fewer than 15 days in a year you
are not required to report any of the rental income, but cannot
deduct any expenses as rental expenses.
Department of Revenue spokeswoman Eileen O’Neil said Wisconsin tax
law for renting homes mirrors federal regulations.
Wisconsin purposes, the primary residence must be rented fewer than
15 days in a year and no income tax is owed to the state,” O’Neil
Doyle recommend anyone considering renting their home also check
local zoning regulations and their homeowners association’s bylaws
to see if renting is permitted.
“I consulted my
home association, but they told me I couldn’t rent my home,” Thulin
said. “But the penalty I’ll pay is so small for one violation that
I’m still renting my home, will pay the fine and still make
European Ryder Cup team members are renting his home and three
others nearby. His home will serve as the location where the four
homes will eat during the tourney.
bringing a chef and waitress to prepare their meals and to serve
them,” Thulin said. “We’ve cleared our food out of the kitchen and
put personal items in the basement — locked away. Anything you don’t
want them to have access to you lock up.”
he’s provided toiletries, new towels and inexpensive bed sheets for
his temporary tenants.
“It’s a good
way to make extra cash,” Thulin said. “We’ll travel to Wisconsin
Dells during the Cup and that is paid for many times over by renting
working through a broker provides advantages.
“They do the
negotiating, act as the middleman and post your home and photos
online on their website,” Thulin said. “The homeowner has the final
say on the price but the broker’s advice is given through years of
experience. A person doing this for the first time probably won’t
know what’s good and what’s out of line.”