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Indy Airbnb hosts earn $250K during NCAA weekend

Indy Airbnb hosts earn $250K during NCAA weekend
Posted at 9:37 AM, Mar 22, 2017
and last updated 2017-03-22 18:16:58-04

INDIANAPOLIS -- Anytime a big event takes place in Indianapolis, expect people to take advantage as Airbnb hosts.

During the March 16-19 weekend -- when Indianapolis hosted four NCAA Tournament games -- Indy Airbnb hosts earned $259,000 by renting out their homes to 1,405 guests to the city, according to Airbnb.

The $259,000 is a 72 percent spike over a normal 3-day weekend in March.

RELATED | Indianapolis Airbnb hosts earn $4.5 million in 2016

People who visited Indy during that weekend came from the following cities:
  • Louisville (home to Louisville University and near both University of Kentucky and Northern Kentucky)
  • Columbus
  • Cincinnati
  • Chicago
  • Nashville

Despite the financial success of people who rent out their homes to the guests, some local governments have either considered cracking down on Airbnb, or have done so already.

People who rent out their homes on Airbnb and live in Indianapolis' neighboring city of Carmel received a letter in January, saying they are in violation of the city's zoning laws.

Fishers also considered using a committee to evaluate Airbnb in the community.

Indiana lawmakers have considered a bill that would prohibit local governments from regulating rentals like Airbnb.

RELATED | Indiana considers prohibiting cities from banning Airbnb

Supporters say the bill is needed to stop knee-jerk regulations being placed on an emerging and innovative market.

But opponents say local governments should be able to decide if people can turn their home into a for-profit business that could inconvenience neighbors.