A recent survey conducted by holiday home specialists Owners Direct has revealed that 50% of Brits in the South East who plan to, or have already rented out their homes for the Olympics are looking to escape the UK for a Mediterranean break.
Owners Direct has also seen almost a 90% rise in enquiries during 2012 to date for the London area and an 80% increase for surrounding areas such as Essex.
And the sexes have been divided. Whilst more men said they’d go abroad while they rented out their property, more women said they’d bunk with friends. Either way, 40% of home owners surveyed said they would be or have already rented out their main residence for the weeks in July and August during which the games take place.
As a result of increased demand for properties near the Olympic sites next summer, Owners Direct have launched a service specifically to cater to the needs of those looking for short term let options. Launched at the end of October last year, it offers landlords a cost effective way to market their homes to people all over the world who are looking for accommodation during the Olympics.
Owners Direct advisers home owners to make sure they do their research before renting out their home.
“We’ve seen a huge increase in demand for properties in the London area and our advice for people considering renting out a holiday property or even their own home would be to ensure that you make it clear to prospective tenants what you are offering within the price – are you providing linen and towels, a welcome pack or any other added extras? Before renting your London property, make sure that you have the relevant insurance required and check that your local council allows short term letting. Once you receive a booking always confirm the booking with a written contract” says Owners Direct Marketing Manager Angela Southall.
46 year old Rochelle Peachey who runs transatlantic dating site iloveyouraccent.com and her husband secured a booking last October for their four bedroom semi in the Woodford Green area to a Russian family for a total of four weeks during the Olympics and Paralympics.
“We are super close to everything and the opportunity was too good to pass up. I might send my mother in law on a cruise so we can stay in their flat but something more exotic is calling my name – California maybe!”
With over 50% of people who took part in the study who own a holiday home in the South East already having received enquiries for the 2012 games, Marketing Manager Angela Southall said the company was keen to extend their offering to people who didn’t need to list their properties for a long period of time.
“We have launched a service that will allow homeowners who wouldn’t normally rent out their properties to do so for a short time. “We’ve been amazed at how many people are willing to pack up their lives and find a roof elsewhere for a few weeks!” says Angela Southall.
Of those who are renting out their homes or are planning to, the majority are of the 35-54 age group. With options to take a holiday, move in with friends and family or rent elsewhere, some have said they would happily crash on a mate’s sofa or hole up in a converted shed or garage with 30% looking at such options. As well as the Med, popular destinations included Northern Europe and America.
The majority of enquiries regarding rental properties are coming from within the UK, with Brits who were lucky enough to get tickets looking to stay close by and make a holiday of the event. The UK was followed by the USA and France.