Anyone thinking of renting their pad out for the Olympics?!

[300CE]

That's unusual: how rents for 2012 Olympics are 35 times their norm

E-mailed the missus this morning to see if she would be up for doing it - means moving in with my folks for a few weeks which would be a bit of a tight squeeze with the kiddies, but could be worth it for these silly amounts of money.

 

[davidjpowell]

I personally would not rush to do this (not least because we are two hours away from London...).

It's early days to see if this level of greed can be supported, and I would think it would involve the hotels joining in - for that sort of cash you could be in a rather nice hotel I suspect.

It's also not like the athletes and media are going to be house hunting, that is what the Olympic Village is for. I may be wrong, but I suspect that these rents will be quietly dropped as time goes on.

 

[wemorgan]

I think a more normal measure of how rentals will increase during the Olympics would be to look at what happens in Edinburgh during the Fringe Festival and Wimbledon during the tennis. A wild guess would say about double the usual rates.

 

[300CE]

I personally would not rush to do this (not least because we are two hours away from London...).

It's early days to see if this level of greed can be supported, and I would think it would involve the hotels joining in - for that sort of cash you could be in a rather nice hotel I suspect.

It's also not like the athletes and media are going to be house hunting, that is what the Olympic Village is for. I may be wrong, but I suspect that these rents will be quietly dropped as time goes on.

I think you're right there David, you always tend to find that people will try their luck at the beginning before the market eventually evens itself out. If, however, someone wants to pay well over the odds to rent out a property it could be worth a punt.

 

[dinoy]

rents for beds in london from june to sept r going at £150 per night per person and going up, i believe there are auction sites for that, i have tenanted houses in central london, and the tenants and myself had discussions about them taking holidays and renting rooms out and both of splitting the income.

but it might be all hot air, but judging by the royal wedding hotels are commanding £800 per night right now and there are takers maybe similar monies can be achieved during olympics.

remember the teams are making basis all over uk training before the start so the demand may start from this time next year peaking in july and tailing off in october.

it is a pity the tickets is going to be so expensive, we cannot take our childern to see live events.

and driving cars probably impossible

 

[Dieselman]

rents for beds in london from june to sept r going at £150 per night per person and going up, i believe there are auction sites for that, i have tenanted houses in central london, and the tenants and myself had discussions about them taking holidays and renting rooms out and both of splitting the income.

but it might be all hot air, but judging by the royal wedding hotels are commanding £800 per night right now and there are takers maybe similar monies can be achieved during olympics.

remember the teams are making basis all over uk training before the start so the demand may start from this time next year peaking in july and tailing off in october.

it is a pity the tickets is going to be so expensive, we cannot take our childern to see live events.

and driving cars probably impossible

Now you know why the tickets are so expensive..the exorbitant room rentals have to be covered somehow.

 

[E CLASS]

Is it really worth the hassle??

Uprooting the family, clearing out all your precious possessions / paperwork etc. for a a couple of foreigners to move in?

If you do it make sure and get payment up front and check your insurance too. Could be a hugely expensive mistake!

If you have a rental property then fine if you have a void or come to an agreement with the tenant - but honestly I would say unless you can rent out a room while you continue to live there its not worth the hassle.

You'll need to live somewhere with good transport links etc.

 

[Londonscottish]

and driving cars probably impossible

Yes of course - but why would you go to a massive sporting event in London on anything but public transport anyway? There are stacks of public transport options in London. It's one of the great things about the city.

I live on the other side of town and went to Stratford and back in a cab last year. Even being driven it was a pain.

Next time I'll just jump on a train and be there in no time.

 

[300CE]

Is it really worth the hassle??

Uprooting the family, clearing out all your precious possessions / paperwork etc. for a a couple of foreigners to move in?

If you do it make sure and get payment up front and check your insurance too. Could be a hugely expensive mistake!

If you have a rental property then fine if you have a void or come to an agreement with the tenant - but honestly I would say unless you can rent out a room while you continue to live there its not worth the hassle.

You'll need to live somewhere with good transport links etc.

My parents only live 10 minutes away (plus i'm lucky to have very good neighbours) in order for me to keep an eye on the property & wouldn't be too much of a problem with storing any items. Would most definately get a tenancy agreement drawn up and take a large deposit beforehand.

There is a bus stop outside my house which goes directly to Greenwich and the station is a 5 minute walk away with travel to Lewisham via the DLR for Stratford.

In the middle of writing this however, the Boss has just replied saying 'No'!

 

[Dieselman]

In the middle of writing this however, the Boss has just replied saying 'No'!

You live with "The Boss"....?

You have my sympathies..

 

[300CE]

You live with "The Boss"....?

You have my sympathies..

Haha!

 

[Deleted member 37751]

I hope all the stitching on your leather settee lines up....

 

[Spinal]

Speaking from experience, we rented our studio/apartment in Turin during the 2007 winter olympics...

Admittedly, the rent wasn't 35x the going rate, but more like 10x-15x, but it was still worth it. Considering the size of the flat, it paid for it's renovation... (we were lucky in that we had a single lady from the beeb renting there, and she got there 2 months before the olympics even started...)

Hotels, like house owners, ask higher prices during the time... look around for 4-star hotels around the olympics and you'll notice prices of £1000 a night not being uncommon...

It's simple demand and supply... supply is fairly inflexible in this case, but demand increases exponentially for a very short period... Hence, the "market equilibrim price" will be higher...

Not an idea image as the supply is quite flexible here, but it conveys the point!

Expect prices of pretty much everything to go up... oh wait, that's the norm!

M.

 

[lotteboom]

I would - but I think the commute fron NE Scotland would put them off slightly lol...

 

[tpwuk]

Olympics, what's that then?

 

[s88]

1. People do it every year for Wimbledon.

2. A lot of the athletes stopped living in the village years ago! ie when they got paid and became rich. Already UK athletes are saying they will live at home.

recall a documentary a few years ago which mentioned the amount of condoms that were used in the village!! Supply them free apparently. Just thought you may be interested.

 

[Alfie]

Winter 2018 olympics, yes I am willing to rent my place