Local Insights

15 March 2012

Short-Lets for Olympics

The sun has got his hat on, hip hip hip hooray! And with it brings much excitement for the year ahead.

2012 will be one of the most exciting years London has ever seen. The Diamond Jubilee will unite us all once more (Royalist or not, everyone loves an extra day off, a street party and an excuse to wave the flag) and the Olympics will be our opportunity to show off our great city to the world.

There has been much hype in the press about extraordinary rents people are quoting for their properties during the Olympics. Some are quoting quadruple the normal price in a bid to maximise this once in a lifetime opportunity.

Here in Belgravia we have noticed a substantial increase in the amount of landlords enquiring about short lets – whether they are a current client or not. Belgravia is generally very quiet in July and August and so why shouldn’t landlords fill their empty houses with paying visitors. However, when we mention the requirement of planning permission from Westminster Council for short-lets, the enthusiasm wanes. Unfortunately it is a little more complicated than just finding a tenant and signing a contract. That is not to say, however, that it cannot be done.

If you are thinking of renting out your property for July and August, Tim Murray, our Head of Lettings, suggests you act quickly.

Contact Tim on 020 7730 4555 or tmurray@ayrtonwylie.com to see if he can help.

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Simon Ayrton
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Simon Ayrton

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