Still time to rent out properties for the Olympics, says lettings specialist
17-07-2012
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According to James Davis, chief executive officer of lettings specialist Upad, as hotels in London are charging such high fees and accommodation is in short supply property owners and landlords can capitalise.
‘Even though the Olympics is just around the corner, I don't think it is too late for landlords to offer up their properties given the fact that there will always be a surge of last minute Olympic visitors looking for a place to rent,’ he said.
‘An Olympic rental property in Covent Garden has recently become the most expensive let in the world, charging £115,000 per week and while the average person would not be able to command such a high price, there is still is huge potential in offering up your home to Olympic visitors as long as prices aren't too crazy,’ he added.
He pointed out that UK landlords are faring pretty well right now. The market is currently booming with an increase of 6.34% in the number of rental properties advertised in the UK in the first quarter of 2012, with 35,789 new rental homes on the market in London over the same time period according to the Movers Index published by Experian a leading global information company.
However, given the general increase in demand for rental property from UK tenants who cannot afford to buy, landlords have also been benefitting from the vast opportunities for short term lets during the Olympic Games, providing a further boost to the rental market.
For home owners contemplating letting their properties during the 2012 Games, the team at Upad have a dedicated Olympic lettings service for £199 plus VAT. For this flat fee Upad will advertise your property on Rightmove, FindaProperty, Zoopla, Gumtree and many more property websites for as long as it takes to secure guests.
They help write a property description and even visit the property to take professional photos if the owners want to achieve the best price possible.
