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Rental market on rise
By Carolyn Williams
This document was published online on Monday, July 14, 2008
Visitors to Cody often seek an authentic Western experience in every aspect of their stay and sometimes that includes lodging.
Increasingly, people are renting the homes of Cody locals for their vacations and a market is developing that allows them to do so.
Cody Lodging Co. has been coordinating these private home rentals since 2000. According to owner Wendy Evarts, renting houses has become more popular in the past decade.
“We started with eight properties in 2000 and we're up to around 70 now,” she said. “It's a money saver. We're comparable to hotels but you get so much more. Everything you need is there. It's a great alternative.”
Cody isn't the only tourist destination exploring this option.
“Many places have started doing this,” Evarts said.
For the homeowner, renting on a short-term basis allows for more options and flexibility than renting on a long-term basis or not at all.
Penny Preston of Cody is renting out her townhouse on 11th Street for the second year in a row.
She and her family have a cabin on the North Fork that they live in during the summer when they rent their house in town.
“Our plan is to live in the house in the winter and rent it out in the summer, so the house pays for itself,” Preston said.
The choice is economical in another way as well.
“When gas prices started going up, we knew it didn't make sense to commute to town from the North Fork every day,” she added. “This was the perfect solution.”
Preston is happy renting her house short term.
“I've been pleasantly surprised,” she added.
Besides the money people earn from vacating their homes during the summer, other perks exist.
“Last summer everyone left food,” she added. “One couple even left an ice chest.”
Usually, renters respect the homes they stay in.
“There is one tiny scratch on a table but other than that there's been no damage,” Preston said. “People are complimentary and nice and really respect the history of our house.”
Preston's house is 102 years old. It's a Sears mail order house and has “extra character,” complete with two white rocking chairs on the front porch.
“People have the bed and breakfast feel without the breakfast,” she said.
The Prestons, who rent their home nightly or monthly, prefer the option of renting their home on a short-term basis.
“When you have someone who's staying a night or two at a time, if they're doing something you're not happy about you can get them out immediately,” she said. “The neighborhood also prefers short-term rentals.”
Alan Lohman of Cody agrees.
“Renting short term is a better option,” he added.
Lohman rents out a larger property on the North Fork to groups of about 10.
“Everyone's been really happy with the house,” he said. “It's been a good deal.”
Lohman sometimes gets thank you notes from renters too.
Renting out his house on Alger Avenue allows Laurence Stinson to use the home when he needs it and let others rent it the rest of the time. It's available to rent throughout the year.
“My parents visit twice a year but no one could afford to keep it for a full year,” he said. “This way, they get to see their grandkids and other people can use it when they're not there.”
“We've had a positive experience,” he added.
People who rent their homes with Cody Lodging sign a contract guaranteeing a clean and solid home. Most people don't mind the maintenance.
“I have a teenage son who mows the lawn,” Stinson said.
“We've been aggressive about keeping the house nice,” Preston said. She continues to repair and maintain the house whenever necessary.
Overall, the situation works well for both parties.
A note left in Preston's home sums it up:
“We loved this place. Perhaps the nostalgia did it. All the cleaning products, tools, even room deodorizers and tissues - thanks. Had to leave some things in the fridge, hope that's OK. Again, just loved it here.”
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Brad Butler wrote on Jul 15, 2008 11:11 AM: