I make more than $10,000 in 8 days renting out my Augusta home during the Masters. This week alone helps cover my mortgage for the entire year.
- Tipton Sholes is a medical resident currently on leave and homeowner in
- He lists his four-bed, two-bath home for about $1,300 a night during the
This as-told-to essay is based on a conversation with Tipton Sholes, a homeowner in Augusta, Georgia, about renting his home on
I first got the idea to rent out my house the week of the Masters Tournament from my older brother.
In 2012, my brother, who's four years my senior, moved from our hometown of Gainesville, Georgia, to Augusta to do his medical residency. He bought a home in Augusta and every year he'd post a classified on Craigslist and rent it out the week of the Masters.
In 2016, I wound up moving to Augusta to begin med school myself and bought my own home in Augusta, a four-bedroom, two-bathroom less than a mile from Augusta National, the home of the Masters. I decided to take a page from my brother's playbook and began renting out my own home that same week each year, too.
Instead of using Craigslist, which didn't have any real type of vetting process for renters, I chose to list my home on Airbnb, which requires prospective guests to provide government-issued ID and credit-card information.
I realized by simply renting out my home for eight nights, I could earn enough to practically pay my mortgage for the entire year, so I kept on doing it
The first two years I rented out my home for Masters week, I was doing my medical residency, so when I wasn't on call, I'd just sleep in an on-call room in the hospital. These days, I hop in the car and spend the week visiting my parents in Gainesville.
Rather than attempt to rent my home to one party for the full tournament at a high-ticket price, I break it down into smaller chunks of time, making it more affordable.
By doing so, I typically wind up hosting three to four groups over the course of eight days. The average night runs somewhere between $1,300 and $1,375.
I've increased the prices slightly since I last rented it in 2019 (I didn't rent it out in 2020 and 2021 as the tournament's in-person attendance was limited by COVID-19), but I've tried to keep it pretty consistent.
Accommodations, especially like mine that are within walking distance to the course, are in great demand every year
There are always lots of inquiries and people waiting in the wings if someone should cancel.
In anticipation of this year's tournament, I listed my home on Airbnb in December, and within just a few days, people were already reaching out with booking inquiries.
This week, I'm hosting three separate groups — a group of four guys for three nights, four couples for two nights, and right now, I'm hosting another group of four guys for three nights.
Overall, it's been a great experience — I've never had any issues with guests
Everybody is always very respectful and leaves the house in great condition. Even in situations where guests decide to leave early, no one ever contests paying the full amount.
At the beginning of the week, my first group of four guys, who told me they flew in on a private jet for the tournament, decided to cut out a day early due to rain, but they paid for the scheduled night anyway.
Having the opportunity to rent my home out through Airbnb has truly been a blessing for me financially during this period of my life when I've been unemployed and on medical leave.
The ability to rent my home has allowed me to keep up with my mortgage payments and really stay above water — and for that, I'm very grateful.
- New India’s greatest wealth creators are 90s babies, born without a silver spoon
- FOMO and market volatility concerns key behind wealthy Indians lapping up ultra-luxury homes
- Young and restless: Zepto’s Vohra to Oyo’s Agarwal – meet India’s top self-made biz moguls
- New SIM card rules from Dec 1 include bulk purchase restrictions – All you need to know
- Netflix to bring popular game 'GTA: The Trilogy' on its mobile app in Dec