Anyone renting their house out for the Olympics? Post Reply

[madamex]

We are considering renting our house out for the Olympics, but no idea which agencies are reputable and how we would go about this?

Anyone else considering it?

Thanks

[anootka]

Our friends have gone with Foxtons, apparently they have a backlog of commercial clients who need properties specifically for that month as its not just the 2 weeks, but they charge quite a bit, in total with all the fees it calculated to be about 25-30% of the total amount their place will rent out for, but still very good money considering.

[maryd]

Here are some local agencies for short term lets during Olympics and Wimbledon tennis:
http://www.wimbledonaccommodation.com/
http://www.tennislondon.co.uk/
http://www.wimbledontennislettings.co.uk/
http://www.rentduringthegames.com/

[secondtimer]

Out of curiosity.. Does anyone have an idea of how much a five bed between the commons would rent for? I would have thought we were a bit out of the way for most Olympic events?

[Funlovingchildcare]

In respeonse to secondtimer, I'm not sure on how much you would get, but I'm sure you can defo double what you would normally get for rent. In terms of trvaelling to the Olympics and being far out, it depends where BTC you are. There are direct trains every 10 minutes from Clapham Junction to Starford on the Overground and it takes 50 mins, about the same time if you went on the Underground. I've done the journey and its OK as you get a seat as CJ is the departing station and vice versa with Stratford.

[Liza-Jane Kelly]

Dear madamex & secondtimer,

As with all short term lets, you will almost certainly benefit from a higher rental income during the Olympic period – wherever your property is in London. In fact, we’re already taking enquiries from potential ‘Olympic’ renters via our Corporate & Relocation Services Team.

http://www.marshandparsons.co.uk/accomm ... n-olympics

Some of our more savvy landlords are agreeing short term tenancies now, so that they can benefit from higher rents during the summer. If however, you’re a first-time landlord, looking to rent your “home” for a few weeks or months, there are lots of things to consider – in particular your legal obligations as a landlord.

We're offering advice to new landlords thinking of letting during this period. Feel free to call the team on 020 8846 3470 or contact me via this site and I'll put you in touch with the right person.

Kind regards

Liza-Jane, Sales Director (and local mum!) of Marsh & Parsons

[madamex]

Thanks everyone!

I'm still calling round the agencies, but a 5 bedroomed house on Earlsfield Rd is on with Foxtons for £8076.92/week during that period. Short lets with Foxtons need to be managed and they charge 26% plus VAT for short lets, plus £1000+VAT to set up the tenancy agreement. Not sure if that's negotiable or not yet...

You have to insure the property during the period and provide sheets/towels etc. They pay 1 weeks rent as a deposit and then pay all the rent up front once the person letting has signed the contract....

Hope that helps...

[apple]

IMPORTANT, if you rent out your house above £4250 (rent a room scheme)for the tax year you will be liable for income tax, therefore anyone thinking of this would have to fill in an self assement form for income for 2012/2013 tax year.

Any amount above this will liable to 20% on your income above this , or you could offset the full amount against expenses.

[tintin]

We are considering renting our 4 bed house out through the website http://www.accommodationforthegames.com. I'm getting Hamptons round for a market appraisal to see what they recon it would rent for, but have around £2,500 per week in mind.

[boonkoh]

I actually have a related opportunity available for anyone looking to rent out their flat/house for the Olympics!

Due to my wedding being on the 24th June, I'm looking for a fully furnished flat from around the 17th June for 2 or 3 weeks for family and relatives to stay. Preferably a 2 bedroom flat, I will work with whatever I can get.

So if you're a landlord or a homeowner looking to rent out for the Olympics, but also have the flat empty for a few weeks in late June, then I could be your answer!

Leave me a PM or call me on 0772 584 9887 if you have a flat for a short let during that time.