When NFL teams relocate, they often have to find temporary rental houses. It can be a stressful and time-consuming process for players.
The stress can be compounded by juggling the uncertainty of their job status and dealing with realtors, lawyers, mortgage brokers and closings in a new city. Thankfully, many players have wives, girlfriends and buddies who are able to help them with housing.
1. Relocation
Whether it’s for work, relocation, or to keep your family safe in the event of a disaster, temporary rental houses are an excellent option. They’re popular for travelers, business professionals, military families who receive PCS (Permanent Change of Station) orders, and other people who want to get a feel for a city before buying a home. They’re also a great choice for people who are renovating or building a new home, as they offer superior amenities and conveniences.
However, finding the right temporary rental house for you and your family can be tricky if you’re not familiar with the area or the size of accommodations available in your desired area. It’s a good idea to consult a real estate agent who can walk you through the process of finding a place to live that will suit your needs for a reasonable price. And once you’ve found the perfect place, it can take a lot of time and energy to fill it up with furniture and personal belongings.
2. Renovation
When NFL teams relocate to new cities, many players may end up staying in a temporary rental house until construction on their team’s stadium is complete. This is often the case for undrafted rookies and other players who are on the roster bubble. It’s a tough situation for these guys to navigate, but flexible leases are often the way to go. This can make it easier for a rookie to get into a home they’ll be proud of, and it may also reduce the risk of squatters moving in later on.
Renovation can involve a number of activities, including fixing or improving the building’s structure, updating fixtures and fittings, and decorating. However, it is crucial to plan out the project ahead of time and ensure that contractors have the necessary permits and insurance.
3. New Stadium
In the last decade, more than 31 stadiums have been built around the country. Some have failed to boost home values and rents, while others have helped lift the fortunes of nearby neighborhoods.
The Buffalo Bills, the only NFL team still in the planning phase of a new stadium, submitted a $1.4 billion, 60,000-seat plan to New York state and Erie County officials last summer. The arena, scheduled to open in 2026, will feature 60 suites and stacked seating that partially shields fans from Western New York cold and wind.
While the construction of NFL stadiums is an exciting time for fans, it is not without its complications. Teams must balance a need to make money from their football operations with the need to maintain a sense of community. Many teams are looking for mixed-use buildings with other business opportunities and sports activities.
One of the most common issues is the financing of new stadiums. Often, public subsidies are needed to help cities cover the costs of building and operating new venues. However, some of these subsidies have a reputation for being too generous or based on political favoritism.
Some analysts argue that it’s best for a city to try to build a stadium on its own before using public funds. But that’s easier said than done in some smaller markets, where a new stadium isn’t likely to generate much revenue.
To avoid that problem, team owners are pushing for stadiums to be financed with tax-free municipal bonds. That way, the city gets most of the benefit from the stadium’s economic impact, and the team can keep the revenue from concessions and naming rights that it would have to share with the state or federal government.
In addition to the revenue sharing, most stadiums also have substantial rent payments. The Minnesota Vikings pay $8.5 million a year to use US Bank Stadium in Minneapolis, and the Pittsburgh Steelers pay $16 million a year for Heinz Field in Pittsburgh.
Some experts say it’s time to change this policy, because it’s costing cities and taxpayers too much money. There should be a way to require stadium developers to renegotiate their leases or pay back the public subsidies they receive. That could make the stadiums less costly and could also give teams more incentive to negotiate with municipalities.