OLYMPICS COMING TO A RENTAL PROPERTY NEAR YOU | Discuss

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OLYMPICS COMING TO A RENTAL PROPERTY NEAR YOU
11/01/2012
4:38 pm
Cedric
Golders Green
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Ok, I must admit it is just a thought but I wondered what advice other members could give me on this one ?

 

As we all know the Olympic Games are hitting these shores later on this summer and as a few of my properties are in London I was wondering where I would stand if any of my tenants come to me and ask if they can sub-let their properties to Olympic visitors over this 2 week period.  How does this affect my tenancy agreements and how would this affect my insurance - In fact would it invalidate either.

I guess there is always the problem they could do it anyway, pocket the money and I would be none the wiser unless I physically checked on these properties each day !  Some flats in London are being advertised on the internet up to £4000 for a one week period during the Olympics.  I can see why it would be quite appealing to a tenant to rent out the property and live elsewhere during the games, or even take a foreign holiday.  Quite a dilemma for London landlords !!!

12/01/2012
10:56 am
gpreston
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not sure on the insurance Q, although very interesting subject, so I've emailed a handful of LL's & LA's who might be able to shed some light on the matter for you Cedric.

an excellent way to make some quick cash on the back of the olympics, just look at what these London LL's are charging: http://www.rentduringthegames....../item/3619 ...!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Surprised

12/01/2012
2:36 pm
Cedric
Golders Green
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Thanks for that.  I'll check it out.

12/01/2012
9:48 pm
mary latham
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Landlords will risk fines of up to £20,000 and a criminal record if they do not get planning permission to let during the Olympics.

Read my warning here

http://www.property118.com/ind.....-la/22926/

13/01/2012
4:46 pm
Cedric
Golders Green
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I picked up a copy of the Standard and saw this article which frankly staggered me

 

http://www.thisislondon.co.uk/.....t-homes.do

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