super bowl rentals

Many companies put up signs like these around Indianapolis to offer listing services for Super Bowl home rentals in December and January. (WISH Photo)

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Beware on home rentals for Super Bowl

Updated: Wednesday, 25 Jan 2012, 9:22 AM EST
Published : Tuesday, 24 Jan 2012, 10:45 PM EST

INDIANAPOLIS (WISH) - Now that those teams are set, fans are scrambling to find a place to stay and Hoosiers are looking to cash-in.

Yard signs with this luring message are blooming across Central Indiana: Rent your home for up to $10,000 per day.

Experts say if you aren't careful you could lose more than what you earn. 

Nick Ostergaard with the Better Business Bureau of Central Indiana suggests doing extra research before putting your house or apartment on the market.

“It is very important to have a written contract because anyone can promise you anything over the phone," he said. “Something in writing gives you more power if anything goes wrong.”

A few companies advertising in Indianapolis have an F rating with the Better Business Bureau.

Major Event Rental.com is on that list with 59 complaints according to BBB records.

But Major Event Rentalz.com has an A - with the BBB. The companies have the same name but the spelling is different.

"Often, consumers will fork over a down payment to have their home listed and not reap the benefit," Ostergaard says. “They will give them a very large down payment, sometimes $1,000 up front to get listed, and their house doesn't get rented and they can’t get a refund so they are out $1,000.”

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