Wimbledon Tennis, the Olympics and Short Term Lets
, 2 min reading time
, 2 min reading time
Living close to a famous sporting ground or some sporting venue you could be making a tonne of money when tournaments such as Wimbledon come to town. We saw it with the Royal Wedding with Londoners renting out their property in a sort of bed and breakfast type still or as a self catering property.Wimbledon is an opportune time to sublet you're apartment or home and as with many people living within serving distance of the Wimbledon Tennis Club regularly move out for the duration of the tournament so they can pocket anywhere between £300 to £10,000 a week for either eager guests of the tournament or players themselves so they don't need to stay at some hotel for the two weeks. It is becoming more popular for not just people in the sporting world, but celebrities and film stars have been taking up the offer to short let local properties in London when filming as they offer a certain privacy and comfort that you may not be able to experience in a hotel.
It makes sense really it is the laws of supply and demand, generally you would be able to move away for the two weeks as you might not want the hassle of all the extra traffic and people around your reasonably quiet neighbourhood, whilst the person moving in will have much more reason to be close to the event.
With houses offering bed and breakfast services for the Royal Wedding weekend, it was a quick way for local residents to make a bit of money on the side, but for an event such as the London Olympics in 2012, which had 16,000 athletes and team officials in attendance in addition to 10 million ticketed spectators attending the games posed a huge opportunity for the residents living close to the stadiums.
Many visitors and athletes will start to be thinking about their living arrangements whilst they are competing and perhaps in preparation of the events themselves. The Olympics Park near Stratford got the majority of events but there were events all around London at Lords Cricket Ground, Hyde Park, Wembley and Wimbledon. This opened up a whole new set of opportunity for house owners to rent out their property for the duration of the Olympics.
In order to get your home ready for a short term let, all you need to do is store your personal belongings and remove your valuables and generally as long as the home has clean sheets, broadband and a TV, you are in a good position to receive some good money for the use of your home.
It is worth checking with a local estate agents to see if your London property has any renting potential during events such as Wimbledon. You could find yourself making a smashing when the fans and athletes come flooding to the area.