How to cash in on the Olympics - London renting

Lit_Up

A friend of mine told me that she was offered 10,000 for her little house in South London during the Olympics. I dunno if that was a tall tale. But I'm wondering what the best way to cash in during this time is. I have both rooms and flats to let in good locations.

A

BitterAndTwisted

Depends on the travel routes to any of the sports venues. I might be able to get a packet for mine as I'm less than five minutes away from Stratford on the overground. Might be a different story for Camden

Darlyd

My brother is thinking about doing this, I will mail him link to this page to watch with interest.

Road_Hog

I can't find it now, but there was an article in the news in the last couple of months, that said the local council were making it illegal to rent out for the Olympics. You need permission for short term lets, which is three months or less and need to get 'letting' permission, which they were going to deny. Over three months and they can't interfere.

I'm sure someone can Google it and find it.

go_cat

Think this is the article :

http://www.dailymail.co.uk/property/article-2064279/MARKET-WATCH-A-craven-threat-Olympic-renters.html

Lit_Up

Road_Hog wrote: »

I can't find it now, but there was an article in the news in the last couple of months, that said the local council were making it illegal to rent out for the Olympics. You need permission for short term lets, which is three months or less and need to get 'letting' permission, which they were going to deny. Over three months and they can't interfere.

I'm sure someone can Google it and find it.

Nah. I'm in Camden so it's fine. I can rent for however long I wish via internet sites.

GAH

I read this article a couple of weeks ago, thought it was excllent for anyone conisdering letting during the olympics

http://www.bushells.com/newsarticles.php?id=24430

Lit_Up

I know we're all dogooders on this forum, and wouldn't swat a fly if it was against the law, but seriously - so long as the renting is discreet and your neighbours don't dob you in (why would they know, anyway - your tenants could be couchsurfers!) then not having planning permission is not really a problem.

Out,_Vile_Jelly

I guess visitors have to pay hefty deposits before they stay? Otherwise you're taking a mighty risk with the contents of your home and presumably have to take out extra insurance.

Yorkie1

Out,_Vile_Jelly wrote: »

I guess visitors have to pay hefty deposits before they stay? Otherwise you're taking a mighty risk with the contents of your home and presumably have to take out extra insurance.

You would have to notify your own insurance because its usual terms will not cover this situation, and probably take out LL's insurance otherwise you would not be insured for any event which might occur during the let.

You would also need a Gas Safety Certificate and be satisfied that your electrics were demonstrably safe.

Just because it's only for a short time doesn't mean the usual LL obligations are relaxed.

Lit_Up

If it is a situation where you are renting out rooms in your flat whilst you live in it... I think you can get away with just calling them 'couchsurfers'. That's what I'll be doing, anyway.