America's Cup To Drive Up Rental Prices On Waterfront Homes
SAUSALITO (CBS 5) - Rental homes with views of the San Francisco Bay have always come at a premium, but some are looking for an even bigger payday when the America's Cup sails into town.
For wealthy sailing enthusiasts, the best seats in town - short of the deck of a competing yacht - will be inside high-end luxury homes. Eric Baird, who set up the Relisto.com website specifically to cater to America's cup transactions, said renters with bay views can expect a lot more than their normal vacation rental price.
"We're looking at capturing three to five times what you would typically get in a normal rental market," said Eric Baird.
Homeowner LJ Blake is doing what many of his neighbors are still only talking about. He will absolutely rent his place on 4th street - on a hillside overlooking Sausalito … he's hoping he'll get at least 14,000 a month.
"They say a billion dollars coming into the Bay Area…and we want to grab a little piece of it," said Blake.
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