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Plan to rent out home in 2002? Here are rules

SHARE Plan to rent out home in 2002? Here are rules

If you're planning to host a few of those thousands of visitors coming to the 2002 Olympics, Coldwell Banker Premier Realty has some advice for you.

All housing will be non-smoking and must include a color TV, nightly rents can start at $90 and go beyond $2,000, and any arrangement with guests staying with you must include "a full breakfast," help with maps and directions, as well as weekly linen changes.

Coldwell Banker was chosen by the Salt Lake Organizing Committee to handle the Residential Accommodations Program by renting out homes, hosting guests who pay rent, or offering free housing to visitors.

"Our goal is to provide guests with a positive, economical and hassle-free experience," said Kent Schlopy, program director at Coldwell Banker. "We want to gather a lot of different listings to provide guests with accommodations that meet their needs and homeowners a chance to earn some money and be part of the Olympic experience."

Information packets are available, and people can get information about the program by calling 1-800-606-0453. Another contact is Sharrin Miller at 464-3656.

"Between 550 and 600 homeowners have requested information just as a result of a couple of ads and articles in the paper.

That represents way more properties than the number of homeowners because some have multiple properties," Schlopy said.

The firm wants to attract enough listings to take care of all visitors who prefer to stay in a home rather than a hotel, or who find that every hotel room has been booked.

The terms and conditions, including approximately how much rent someone can expect, are included. The idea is to ensure homeowners a "reasonable financial return" while giving guests a good value.

For example, if someone rents your furnished but vacant home or condo, you must make sure it's clean and has proper bedding and laundry facilities. You also must make arrangements to get the snow shoveled and carry proper insurance.

If someone wants to rent in a bed-and-breakfast arrangement with you and your family in your home, then you need to let visitors come and go as they please with a house key, and be helpful with information about public transportation and restaurants.

There also is a program for people who want to host athletes and their families for free as a way of thanking them for the sacrifices they made for the Olympics.

Some other provisions: Homes must be available during Feb. 7-25, 2002; all accommodations are non-smoking, so smokers must light up on balconies, patios or decks; and the rental income will be split, with 60 percent going to the homeowner and 40 percent going to Coldwell Banker and SLOC.

Homeowners who want to take part must complete an application and return it to Coldwell Banker. The firm will inspect the home and assess its potential, giving rankings titled "standard," "bronze," "silver," "gold" and "platinum," depending on value, number of bedrooms and bathrooms and amenities.

The range of rents varies considerably. Schlopy said these figures were derived after checking several sources.

"We conferred with the Sydney, Australia Residential Accommodations Program, as well as the Atlanta Residential Accommodations Program, and used some guidelines from property management companies here that have established rates for the Olympic period," Schlopy said.

Houses that pass inspection will be listed in the firm's inventory with virtual tours starting around Sept. 1 via UtahHomes.com or SaltLake2002.com.