Landlords’ Buy-to-Let Accommodation Better Option Than Hotels During Olympics

With some London hotels reported to be charging up to five times their usual rate during the London 2012 Olympics, privately rented homes and short let apartments are going to be a hugely popular alternative, according to Benham and Reeves Residential Lettings.

This type of short stay accommodation offers better value for money and a more convenient option for cost-conscious visitors as well as the thousands of staff involved in organising the Games, says the company.

“Demand for accommodation in London is going to be sky high and with rental and short let properties offering better value than typical hotel rooms, particularly for families and larger groups, this is a golden opportunity for landlords,” explained Marc von Grundherr, Lettings Director at Benham and Reeves Residential Lettings.

“Enquiries levels are soaring and we’re expecting demand to continue to rise over the summer when ticket allocations have been confirmed and people start to make preparations in earnest.

“It's too early to say what level of rents we are looking at but clearly this will be influenced by a property’s size, location and standard. As a guide, a one bed, short let apartment within half an hour of the main Olympic site, say in Farringdon, Liverpool Street, Stratford or Canary Wharf, which currently rents for around £1300-£1400 per week, could fetch two or three times that figure. But with events planned across the capital, all areas will see a surge in demand, particularly as we get closer to the Games.

“However, this price level still represents good value for money compared to a typical, high quality hotel. Many of our enquiries are from groups of visitors, families and friends who are planning to visit the Games but also stay on for a longer holiday.

“And while athletes stay in the Olympic Village, training and medical staff, as well as sponsorship staff, media and contractors must find their own accommodation, not just for the Games but during the build-up too.

“A short let, rental property offers a cheaper and more convenient solution than a series of hotel rooms. And of course, short stay apartments have their own kitchen, so visitors can also save a fortune by eating in rather than eating at restaurants every day.

To see how you can make the most of a once in a lifetime opportunity please contact one of our experts today today and we will be happy to discuss in more detail. Contact us on 0118 955 9712 or info@prospectinvestorsclub.co.uk

Source - Residentiallandlord.co.uk