NLA issues advice for landlords during London Olympics
Landlords planning on renting out property to visitors to London for next summer's Olympics may want to consider using the services provided by residential lettings agents.
That is according to the National Landlords Association (NLA), which has issued a list of tips for those looking to cash in on the predicted boom in rental demand during the 2012 Games.
"Use a letting agent that is registered with a professional body such as the UK Association of Letting Agents or the Association of Residential Lettings Agents," says the industry body.
Other important tips include ensuring that the accommodation is properly furnished and includes beds, sheets, towels and appliances, while a Wi-Fi connection will be an advantage.
Th property should also be kept to a high standard, as tenants visiting during the Olympics "will expect good quality accommodation", says the NLA.
While many professional landlords will be looking to make their properties available for a short-term lease over the course of the Olympics, it is expected that a number of owner-occupiers will also be letting out their homes to visitors.
For this second group, the NLA advises them to issue a contract for a Holiday Let or Licence to their tenants, while bearing in mind that this type of tenancy contract does not fall within the legislation requiring a tenancy deposit to be protected in a government-authorised tenancy deposit protection scheme.
David Salusbury, NLA chairman, said: "It's important that homeowners wishing to rent their properties during the 2012 Olympics are aware of their responsibilities to tenants, as well as the various regulations they must comply with.
"Homeowners who fail to rent lawfully and fairly may end up falling foul of the law. The NLA recommends these guidelines to ensure a successful experience for both the landlord and tenant as they visit the UK to enjoy the 2012 Olympics."
An estimated 900,000 visitors to the capital are expected during the London 2012 Olympics.
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