London homeowners could make a killing during the Olympics, by going away and renting out their homes to visitors.
However, letting agency Olympic Short Let (OLS) is warning potential money makers to think about the implications of renting a property out during the big event.
OLS claims that rents are expected to be around 35 times as high during the Olympic games.
It has joined forces with maintenance and refurbishment company Aspect to provide letting services specifically for the Olympics.
According to OSL, the two companies aim to simplify the process of home letting and offer “common-sense advice, templates and essential services all in one package”.
But Aspect co-founder Will Davies warned potential short-term landlords that any property letting deal is dependent upon the services it provides to its customers.
“Quality services are even more critical for a short let for a couple of weeks over the Olympics. No one will want to stay in a house with a leaking radiator or dodgy light switch and problems need to be sorted out efficiently,” he said.
“There are countless domestic insurance products available that provide year round cover at high costs but the typical emergency, such as a leak or fuse blowing can usually be remedied, by the right person very quickly.”
