Plan to lease your house for game? Rent smart

People thinking about renting out their houses in late January to Super Bowl XLIX fans have a lot more to do than making an extra key. In most cities that host Super Bowls, home rentals and rates shoot up during the week of the event. Thousands of Phoenix-area houses are listed for rent at prices of $500 or more a night.

For example, visitors can rent the former Paradise Valley home of retired Arizona Cardinals quarterback Kurt Warner for $16,000 a week; a twobedroom condominium in Scottsdale’s Optima Camelview for $2,000 a night; a five-bedroom Phoenix house near North Mountain for $1,500 a night; or a three-bedroom house in Glendale for $1,200 a night.

Arizona’s top real-estate regulator and attorneys caution homeowners to do their homework and protect themselves before turning over their house to a renter.

“We have had problems in the past with rentals when a big international event comes to the state,” said Judy Lowe, Arizona Real Estate commissioner. “Homeowners with short-term rentals need to do everything from checking out the backgrounds of potential tenants to figuring out how they will get a deposit and be paid.”

Homeowners can legally lease out their own house. If you do so, here’s a checklist:

» Review your house’s insurance policy. Does it cover renters?

“A renter could leave the stove on and burn down your house,” said Gary Smith, a partner at Scottsdale-based law firm Smith Paknejad PLC. “If you aren’t covered to have renters, then it’s likely that damage won’t be covered by the typical homeowner insurance policy.”

» If hiring a real-estate agent, check out licenses and complaints at azre.gov.

» If working with a website listing properties for rent, check to see if it has a real-estate license.

» Consider a background check. Real-estate agents and property managers can perform those checks. Homeowners reviewing potential tenants’ credit and criminal records need

signed permission and a service to do it.

Some homeowners associations have certain requirements on rentals. Check first before signing up a renter, so you aren’t potentially fined later.

Get a written contract that details deposit, payment, cancellation costs, insurance and what is expected of the tenant in taking care of a house.

“Don’t do a deal on a handshake to rent out your house,” attorney Pouria Paknejad said. “A homeowner has no recourse if a short-term renter doesn’t pay or comes in and destroys the place.”

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