Get a lift from the London Olympics

Never has it been potentially more lucrative to rent out a room in London than this coming summer.The London Olympics has sparked roaring room rental costs in those areas of the city which are set to feature highly in selected events and which in turn will be watched by approximately 500 million people around the globe.


Even the queen is getting in on the act by allowing companies to hire St James’ Throne Room for… wait for it… £30,000 a day! Then again, you might want to opt for the Tapestry Room or even the Queen Anne Room (a tour of the palace will be thrown in). 
And if you don’t fancy any of those well, there’s always Leeds Castle for a trifling £1m. It’s believed first refusals for hiring the Royal household will go to those large corporations boasting a Royal Warrant.


Meanwhile, closer to home for the rest of her subjects, some flat rentals in the city have increased four-fold during the duration of the games with many leases stipulating that current tenants must move out during the Olympic weeks.
If you’ve a spare room and are thinking of cashing in too – and, let’s face it, why not? – here’s a couple of tips you should bear in mind:
• Always make sure you have an agreement in writing and that it’s legally binding
• Ensure the agreement contains details about whether your tenants have to pay for heating and lighting costs, if basics such as milk, sugar, coffee etc will be supplied, and if you’re expected to provide clean towels etc for them.
• Take quite a large deposit in case of potential damage to your property.
When advertising your property it’s a good idea to list ALL nearby amenities and favourable points (don’t assume your potential flat mate will work them out for themselves). For instance that includes distances to the nearest train station, frequency of buses, excellent local pubs and restaurants, access to sports facilities and shops.  Also put a photo of your property on with your advert as these get looked at far more often than listings which contain just text.
Alternatively why not let us here at www.housepals.co.uk do the looking for you? Not only will we able to produce an impressive advert for your flat, we already have a data base of potential tenants just waiting to be mined! So why not call us today?