About a half hour before President-elect Barack Obama gave his acceptance speech as the 44th president of the United States, the first condo went up on Craigslist.com for rent for Inaugural Week. With no pictures or flowery descriptions, the ad for the 1 bedroom condo simply stated: “BE THERE TO BE A PART OF MOST HISTORIC MOMENT IN AMERICAN HISTORY!!!!1” (sic). The price for three nights -- a mere $5,000.

If you're interested, you better grab it, since it's one of the best priced condos for rent on The Hill. Every four years, the Capital City is inundated with politicos seeking to usher in a new administration. The amazingly high rents are drawing international attention, fawning over how regular folks are checking out of their urban dwellings to make way for those who want to rent a piece of history.

Condominium owners of units within walking distance of The Mall (home to the Washington Monument and memorials for both the Vietnam War and World War II) are trying to fetch $1,000 - $2,000 per night, while townhouse and single-family home owners are trying to bring in as much as $30,000 for the historic week.

Renters beware, however, keeping in mind that these are being rented by personal residents, not real estate or hotel professionals. Ask for pictures, references, and a contract before taking some of these rent-by-owners up on their offer.

Published: November 21, 2008

Use of this article without permission is a violation of federal copyright laws.

Mr. Carr has covered real estate since 1989. He is the author of Real Estate Investing Made Simple. Got a personal real estate issue? Post your questions and comments at Anthony’s blog: commonsenserealestate.blogspot.com.