How I Earned $500 in a Week Doing Absolutely Nothing

Like many people my age, it often seems that at the end of of the month, after paying rent and bills and buying essentials like food and gas, there is hardly anything left over for fun. Recently I began to think about ways to make some extra cash.

Around this time, the city was abuzz with the upcoming Austin City Limits Music Festival, a three-day concert that draws 30,000 people to Zilker Park each day. Festival attendees often come from all over the country, making traffic a nightmare and hotel rooms downtown scarce.

It was during this festival frenzie that the idea occured to me: I could rent out my one-bedroom apartment to out-of-towners for the weekend.

It made perfect sense: my apartment was within one mile of the park so visitors could walk to the event rather than fight the mob downtown waiting for the shuttle bus. I talked to a friend and she agreed to let me sleep on her couch (in exchange, she could sleep on my couch should she ever decide to rent out her apartment).

Two weeks prior to the festival date, I went to one of my favorite websites of all time - Craig's List - and looked under the temporary housing section. Apparantly I wasn't the first Austinite to have this idea because there were already quite a few ads for people leasing out their houses or apartments for ACL weekend. I noticed that many of the listings were for places not very close to the park. Also many of them were quite expensive - one advertised a house for $1,000.

If someone were going to pay $500 for a place to stay on the weekend, they might as well stay at a motel, so I decided to list my apartment cheaper - $100 per night plus a $200 refundable deposit. I planned to lease it for three nights, since the concert lasted three days, meaning I would make an easy $300.

Now, I realize the idea of letting a total stranger stay in your house for the weekend is very unsettling for many. Several people thought I was crazy. What if the person turned out to be some weirdo pervert? What if he or she robbed me blind? Both, of course, are very valid points. But then it occurred to me that I don't really have much in my apartment that would be worth taking. I decided I would post my ad and see what type of responses I got back.

Within a day of posting the ad, I received a response from an attorney from Florida who said he was coming to Austin with his friend and they were trying to save some money. He provided many details in his email and said he realized this was an issue of trust and was willing to answer any questions I might have. He sent me a copy of his professional biography and gave me his phone number. After talking to him for about 20 minutes on the phone, we settled on the arrangement. I should also mention that I received several more replies, including one from a couple from California who wanted a place close to the park, and another from a couple from Milwaukee.

There was one catch, however, the lawyer and his friend wanted to stay for five nights. This was longer than I had anticipated but the plus was that instead of making $300, I would make $500. My friend said it wouldn't be a problem to stay an extra night at her place, and I arranged to stay one night with my sister.

Before they arrived, I filled a box with all my financial statements and bills, along with my journals, photos and jewelry. Anything that I felt uneasy about leaving, I simply packed in my car. I didn't feel comfortable giving my visitors a copy of my key, so I told them they would have to leave the door unlocked.

I have to admit I was a little nervous on the day of their arrival, but my fears were eased after meeting the two men. They were the pefect houseguests and after they left I happily returned to my apartment finding that everything was just as I had left it.

The obvious downside to this idea is the inconvenience of having to find someplace to stay while your guests are in town. I was lucky to have a friend who was so willing to let me stay with her. One option would be to rent out your apartment while you are away on vacation. Also this idea would probably only work for single people who lives in a bigger city that draws large concerts or sporting events. But inconveniences aside, this really was the easiest $500 I ever made. Now when the end of the month comes around, I will actually have some spending money left over!