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Republican National Convention is both boon and bust for Cleveland real estate

Cleveland has about 5,000 hotel rooms within walking distance of the arena, which all booked quickly -- now what?
  • With the convention just three weeks away, there are about 30,000 attendees and visitors still in need of housing for at least the week of the event, if not longer.
  • Howard Hanna Real Estate Services is the “official” real estate company for the convention.
  • Howard Hanna’s properties have been renting from $4,000 to $22,000 for the week, and agents are concentrating listings within 10 to 15 minutes of the arena.
  • Another Cleveland area broker is focused on helping area homeowners sell their homes so they can flee the country when the next President is elected.
  • Despite the business boost the convention has provided to Cleveland area brokers and agents, demand and prices are both more sluggish than expected.

Real estate agents and brokers in Northeast Ohio are capitalizing on the opportunity brought about by thousands of visitors who need housing during the Republican National Convention (RNC) this month -- and even using the polarizing Presidential election to market their services to disappointed voters. The long, contentious presidential primary road officially ends July 18 through 21 at Cleveland’s Quicken Loans arena, home of the newly minted 2016 National Basketball Association Champion Cleveland Cavaliers. Quicken Loans Arena, where the RNC will be held. About 50,000 delegates, RNC staffers, lobbyists, media, demonstrators and others are expected to descend on Cleveland, a city with nearly 400,000 residents, for the convention and its associated, ancillary events. Cleveland has about 5,000 hotel rooms within walking distance of the arena, most of which booked shortly after the Republican National Committee announced Cleveland as the host city in 2014. The Host Commit...