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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 !!!
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 …!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Thanks for that. I'll check it out.
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