11. Make friends with your neighbors. Or better yet, date one.
Live in a big-city apartment with only one bathroom? Someone's in the shower? Just hop on over to your neighbor's place, which, if you've been friends/dating for a while, you've probably already made yourself at home in. Also, conveniently, it's a nice place to retreat and watch Seinfeld reruns -- or maybe Friends (you know, 'cause of the shared apartment thing) -- when your guests are really starting to get on your nerves. You'll be like Monica and Chandler. Or Jerry and... Kramer?
12. Go out on the cheap
You'll be going out a lot when your guests are here, so don't hit the Benihana every night. Remember, you're not the one on vacation. A notable exception to this rule, however: If your parents are in town, one night maybe casually suggest going to that overpriced restaurant you've really been wanting to try.