The Olympic Games

Does it seem too early to be talking about the Olympics? Absolutely not if you’re a landlord! The Olympic Games, aside from the world class athletes, the top quality sporting achievement and the huge media buzz, will bring to the UK a massive number of people from all over the world looking for accommodation. Have you thought about letting for the Olympics?

Areas of Interest

London is the obvious top location if you’re looking to let to Olympic tourists, but many other areas are hosting competitions too. Check out the Olympic website for more details of the events that might be coming to you and remember that the Olympics is pretty diverse and there are things happening from Weymouth in Dorset all the way up to Hampden Park in Glasgow.

Your Property

If you’re letting a UK holiday home currently then your property might be ideally suited already. Many landlords, however, have found that tenants will be away for the Olympic Games – student properties in particular are likely to be empty. If you’re forecasting an empty property then get letting! If you’re not someone who normally lets to tourists, however, you might want to consider UK Holiday Home Insurance.

Pricing Your Property

Some of the figures for Olympic accommodation are sky high and way out of proportion but it’s true that generally the prices are higher than normal lets. If you own a central London property you can probably price however you like, but in other areas you need to be careful: accessibility is key and potential occupants just won’t pay to be an hour’s travel by bus away from a particular venue.

The Olympics is an opportunity well worth thinking about and landlords have been very creative. In some cases landlords have paid for tenants to take holidays knowing that they’ll be able to fill the property with Olympic tourists and still make more money. Be careful with plans like this but do think outside the box and think how the Olympic Games can help you maximise your revenues for 2012.