The rental industry makes money on the occasion of Masters

Kathie Williams bought a house in Augusta, Georgia at the end of 2021, about 800 meters from the Masters battlefield, to rent out the property during this major week for many years to come. With that "vision", she spent $250,000 on refurbishing her home over nine months, then entered the fierce competition in the Augusta rental segment on the occasion of the Masters. This activity brings significant income, making many owners willing to rent out their homes.

The Masters season of rentals dates back to the mid-1970s, when the local government realized the economic potential of the skyrocketing number of visitors and enacted a law allowing owners to rent out their homes for up to 14 days a year without needing to declare. income in the tax return.

Currently, although short-term, this business form is professionalized and even large-scale with many individuals, including Jane Fuhrmann. She founded a brokerage company specializing in rental housing since 1998, and has more than 2,000 apartments ready to serve Masters guests, from tournament players, field audiences to the media.

Fuhrmann not only arranges accommodation, transportation, and meals, but also focuses on every detail in the service list so that guests are satisfied when they have to spend a lot of money. Therefore, homeowners must prepare from the beginning of the year, including replanting flowers and spreading new dry pine.

On one occasion, Fuhrmann received an early check-in notice that a player and his family were "checking in". She quickly brought the cradle to the place where the guest was going, but when she got there, she realized it was too big for the door to the separate room for the children. Fuhrmann went to the adjoining apartment, fortunately met a craftsman who was creating a landscape to ask for help. This guy disassembled the crib to make it easier to put it in the right place and then put it back in place as soon as the guest entered the front door.

Fuhrmann divides rental houses into three categories: "reception", "dinner" and "sleeping". The "reception house" is spacious enough to accommodate the whole group in the evening. This type costs from 30,000-70,000 USD per night, suitable for business customers. The "sleeping" apartment is usually located near the "receptionist" so that guests can rest comfortably after the party. Fuhrmann launched this type to meet demand because large business customers are more likely to rent a smaller apartment for rest. "Dinner apartments" are smaller and much cheaper, usually for groups of 10-12 people and less damaged when guests "check-out".

Guests staying on the occasion of the Masters, especially the golfers competing for the tournament, not only need a place with full facilities, convenient transportation. They also pay attention to living space, even if only for a short time.

In the past, many players preferred the historic areas, located around the court. Currently, they want new, modern houses while the supply is scarce. Because of that, Hayley Mack has mixed antiques for his home with rents up to six figures during Masters week. That is the level of "picky guests".

Mack and her husband Darren bought the house in 2016, when it was 100 years old. Both keep the original architecture, but expand the area. After adding more than 270 m2, the house is now 743 m2, including a separate area for guests, a basketball court, putting practice and a place to place a golf simulator. As for the interior, from furniture to wall paintings, all are handmade goods imported from France. "The city of Augusta doesn't have the type of housing we have right now. We do it because it's an investment for the family in the future. And obviously the income from there is quite high," Mack said. All year, her family stays at home, except for Masters week.

Mack cannot disclose the identity of the tenant due to a confidentiality agreement between the two parties. However, she revealed her experience serving two billionaires in which the first one has a total net worth of six billion dollars. When he got home, he brought his two sons and a personal chef, asking only for peanut butter and oatmeal.

But the Mack family also experienced the "traumatic consequences" of their next visit to a famous beverage company. Guests are partying throughout the week. After they returned home, the owners returned, met the housekeeper at the door and was reassured "don't panic". Mack burst into tears when he saw the scene inside and promised himself not to give the house to strangers. Then in the end, she gave up that idea, continued to rent out the Masters season and got a high income.

Kathie Williams' five-bedroom home was refurbished at a cost of $250,000 over nine months. The entrance is through a large manicured lawn and to the brick steps. The main door leading to the ground floor is not partitioned with the modern kitchen on the right, going straight is the reception area, through the sliding door is the backyard. The outdoor area has an oven, large enough for parties. The house is full of amenities, including a private room for entertainment with an 80-inch TV.

Willimas said she reached a verbal agreement with a competitor at this year's Masters and the guest is definitely not the champion because he does not know the possibility of a reunion later. Normally, Williams sets a rent of $2,500 per week, with Masters 2023 alone estimated at $30,000. According to her personal estimate, she will use a part for home renovation, the rest to invest in other areas or travel.

But Williams didn't know that her family had hosted the golf legend and used that detail to push prices. Before it went to her, it belonged to the Witt family that had hosted Seve Ballesteros many times in the early '80s.

Ballesteros usually arrive seven days early before Masters week to practice at Augusta National. He is accompanied by his father, the manager, and occasionally with brothers. On such occasions, in the Witt's house, the mother is bound to prepare a hearty dinner, which includes Louisiana catfish, and the father is in charge of a decent breakfast.

And from the rental-lease relationship, the two sides became a friendly place. However, that friendship did not make Ballesteros show "power". One time, while the Witts were watching a non-golf sports program, Ballesteros snatched the remote control and told him to "get over the golf channel now." So, the Witt family had to give way to the contemporary star. Ballesteros won the Masters in 1980 and 1983, on nine PGA Tour titles and a record 50 European Tour titles. He died in 2011, three years after being diagnosed with a brain tumor.

Among Augusta National homeowners, there are still people who don't really buy-to-let, like caddy Steve Hale. Hale enjoyed life in the city of Augusta after attending the Masters a few times, including the first occasion in 2008. At that time, he and a few colleagues rented an apartment from an old woman in a 12-unit townhouse. Years later, the complex became a shelter for caddies during their time on the Augusta National Stadium.

In 2016, Hale bought a house, just two weeks after stopping cooperation with Keegan Bradley - former major champion PGA Championship. Since then, he has not had the opportunity to attend the Masters, but still takes care of the house in Augusta to rent to colleagues at an affordable price. According to Golf Digest, Hale is satisfied because the extra income helps people in the same profession.