Student houses worth their weight in Olympic rental gold

Student landlords are leading the rush for Olympic rental gold by letting out their properties to media companies, tourists and sports fans for this summer’s sporting extravaganza. Landlords with shared homes in and around the capital are marketing their rooms for an average £175 a week between the start of the Olympic Games in July and the end of the Paralympics in September. The games conveniently fall between the start and end of the academic years. Large houses in multiple occupation (HMOs) with parking are being snapped up by media firms - with one Danish TV company offering £23,000 for an Olympic rental of a seven-bed detached home in Woodford, East London, which is about 10 minutes away from the Olympic Stadium by Tube. Homeowners are cashing in on a growing shortage of hotel rooms as millions of extra visitors are hunting for somewhere to stay during the games. Many homeowners are taking the money and jetting overseas to avoid the expected crush the games will generate in the capital. Spare room rental web site crashpadder.com is advertising around 2,500 homes in and around London for the period - and dozens of other rental web sites are springing up daily. Chief executive Stephen Rapoport, said: "We have seen hotels significantly inflate their prices ahead of the Olympics, which creates an opportunity for savvy Londoners to cash in. “It's fantastic to see Londoners opening their homes to welcome visitors to the UK. I hope we can demonstrate to the world what a friendly, hospitable nation we are." For big spenders, £75,000 a week will secure the luxurious Central London home of former England football international Sol Campbell. Even the Queen is earning some extra cash by renting part of the grounds around Kensington Palace to the Russians. Westminster Council is considering planning permission for a temporary a hospitality village on the site for the Olympics - and the Queen will bank a £250,000 deposit plus an undisclosed amount for rental.

Landlord blog

Siobhan Smith

Further reading

The best locations for investment properties under £200,000

Students face higher rents and longer commutes - survey

Demand for PBSA in the UK highlights global supply imbalance