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America’s Cup To Drive Up Rental Prices On Waterfront Homes

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A pair of Oracle Racing AC45's skippered by Russell Coutts, left, and James Spithill, right, make their way toward the Golden Gate Bridge in San Francisco, Monday, June 13, 2011. (AP)

A pair of Oracle Racing AC45’s skippered by Russell Coutts, left, and James Spithill, right, make their way toward the Golden Gate Bridge in San Francisco, Monday, June 13, 2011. (AP)

SAUSALITO (CBS 5) – Rental homes with views of the San Francisco Bay have always come at a premium, but some are looking for an even bigger payday when the America’s Cup sails into town.

For wealthy sailing enthusiasts, the best seats in town – short of the deck of a competing yacht – will be inside high-end luxury homes. Eric Baird, who set up the Relisto.com website specifically to cater to America’s cup transactions, said renters with bay views can expect a lot more than their normal vacation rental price.

“We’re looking at capturing three to five times what you would typically get in a normal rental market,” said Eric Baird.

Homeowner LJ Blake is doing what many of his neighbors are still only talking about. He will absolutely rent his place on 4th street – on a hillside overlooking Sausalito … he’s hoping he’ll get at least 14,000 a month.

“They say a billion dollars coming into the Bay Area…and we want to grab a little piece of it,” said Blake.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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