Best Olympic Accomodation

As the Olympics are nearly here after years of planning and building, this summer will see millions of visitors heading towards London for the games. Visitors are expected from within the UK and further afield for the duration of the games. Demand has rocketed for places to stay whilst the Olympics are on with hotels rooms full, having been booked up well in advance. With a shortage of accommodation for Olympic visitors, people are instead turning to landlords and short term lets for their stay in the capital.

Photo by 8thDay

Whilst short term lets have proved popular options in the past at other prominent events such as Wimbledon, there has been a sharp increase in the number of short term rental opportunities in the East London boroughs that surround the Olympic village.

East London boroughs such as Dagenham and Waltham Forest have seen an increase of 35 per cent in properties being let on a short term basis in the first quarter of the year. Landlords are also achieving higher rental prices on a short term basis, reflecting the demand across the city this summer. The boroughs surrounding the Olympic village can achieve £143 a week, an increase of 14 per cent from this time last year. Prices are also expected to rise further as the opening of the games draws closer.

The best Olympic accommodation short term rental opportunities and demand have appeared in the West of the city. Although staying in East London will be more convenient for the games, West London has had 37 per cent of all the Olympic rentals. Visitors are combining a visit to the capital’s attractions and nightlife in tourist locations in the west of the city, opting instead to travel to the Olympics for the events.

Other popular areas of the city for short term lets include Greenwich where the equestrian events will take place and Windsor close to the rowing events. Both places have seen an increase ready for the summer.

There are plenty of different things that landlords and property owners can do to capitalise on the short term let demand during the Olympics. Firstly, it is worth hiring an estate agent to market and let the property, even on this short term basis as they have the knowledge to get tenants in time for the games and negotiate price.

Always ensure before letting the property that it is in good condition for rental with all decoration and maintenance up to date. Good quality properties are estimated to rise in rental potential up to twenty times the normal charge.

There will be visitors unable to get booked into a hotel looking for hotel standards from a short term let. This may include fine details such as use of towels, toiletries and tea and coffee and these costs will need to be added into the weekly rental. Visitors will range from those wishing to see certain events to those working and possibly even organising the games.

Hamptons International can offer a large range of short term lets and rentals around the east end of London through out the Olympics for information on Olympic lettings https://www.hamptons.co.uk/en-gb/Lettings/SportingLets/.

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Category: Travel Tips, United Kingdom