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Olympic Rentals Suffering


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This morning on the World service there was a rental story. The woman interviewed had rented her house out during the olympics to a Russian tv crew. £8000! and she was therefore going to go away on holiday and considered it easy money. Apparently yesterday they dropped out.

I suspect this is the tip of the iceberg and I would LMAO at those greedy landlords who have lost out, whilst kicking their tenants out. Apparently hotels have loads of free rooms and are now discounting them, so why would you pay over the odds?

Sorry, can't see it posted on iPlayer yet.

PS I blame the flying ant day on the dropouts of the rentals. Well it's either that or the weather and the weathers been great of late, so flying ants fault it is then. And the economy too, they messed it up.

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This morning on the World service there was a rental story. The woman interviewed had rented her house out during the olympics to a Russian tv crew. £8000! and she was therefore going to go away on holiday and considered it easy money. Apparently yesterday they dropped out.

I suspect this is the tip of the iceberg and I would LMAO at those greedy landlords who have lost out, whilst kicking their tenants out. Apparently hotels have loads of free rooms and are now discounting them, so why would you pay over the odds?

Sorry, can't see it posted on iPlayer yet.

PS I blame the flying ant day on the dropouts of the rentals. Well it's either that or the weather and the weathers been great of late, so flying ants fault it is then. And the economy too, they messed it up.

Ou nice one. Definitely need a link when it pops up. Shall keep eyes peeled for it.

Nice to think those "olympian landlords" will have trouble cancelling their holiday booking this late too. laugh.gif

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The Russians are not coming!

Anecdotal but gives an insight, I know of a Greek tourist area that is trying to court the rich Russian tourist Rouble. Why else anyone would open a shop selling fur coats in 40 degree heat, I don't know. Anyway, the general response from the tourists is that the Greeks should make the effort to speak Russian.

Perhaps they are the customers you can do without?

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This morning on the World service there was a rental story. The woman interviewed had rented her house out during the olympics to a Russian tv crew. £8000! and she was therefore going to go away on holiday and considered it easy money. Apparently yesterday they dropped out.

It couldn't possibly be HPC's most hated property journalist could it?

I'll leave it to HPC posters to guess who I mean.

Please God, let it be her!

:lol::lol::lol::lol::lol:

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It couldn't possibly be HPC's most hated property journalist could it?

I'll leave it to HPC posters to guess who I mean.

Please God, let it be her!

:lol::lol::lol::lol::lol:

The sad thing is that if it is her, she probably gets paid £8k by a well known family newspaper to write about the experience, so she's quids in whatever happens...

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The sad thing is that if it is her, she probably gets paid £8k by a well known family newspaper to write about the experience, so she's quids in whatever happens...

Doubtless. Please let it be Dullard.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=180729

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Shamelessly snatched from another thread - an olympic sized serving of schadenfreude. Tuck in:

Greedy landlords who got rid of perfectly good tenants in order to achieve inflated rents from Olympic visitors have been left bitterly disappointed, and now face substantial voids.

Agents say only a tiny proportion of homes offered for rent for the Olympics have been taken. In Stratford, there are still 300 short let Olympic properties available, from £4,000 to £6,500 a week – in an area where the normal going rate is £1,700 a month.

According to one agent, trying to cash in on the Olympics market has been 'a total waste of time'. His Chelsea-based business, Champions, has achieved just one Olympics let.

At Stratford, Keatons say that out of 400 landlords offering properties as Olympics lets, just two dozen were successful.

The Foxtons website still has a dedicated Olympics lettings section, showing over 2,000 unlet properties apparently still available for 'summer 2012 rental'. The most expensive is a six-bedroom boat moored at Canary Wharf available for £60,000 a week. The cheapest is a two-bed flat in Islington at a mere £750 a week.

Greed pays price as thousands of Olympics lets lie empty

:lol: Interesting to see what effect a glut of rental coming on has on rental costs too.

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Shamelessly snatched from another thread - an olympic sized serving of schadenfreude. Tuck in:

Greed pays price as thousands of Olympics lets lie empty

:lol: Interesting to see what effect a glut of rental coming on has on rental costs too.

Thanks for the link. Comments were priceless. It just shows how stupid people can be when they see dollar signs. The proportion who got burned according to the article is incredible. And you do have to wonder what effect desperate landlords will have on the market in large numbers around London. But then again perhaps they are so in debt they can't afford to 'give it away' so may become forced sellers? Could happen.

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East End Has Thousands in Illegal Squalor Near Olympics

Five thousand meters from London’s gleaming, white-spoked Olympic Stadium -- a 3.1-mile distance that games organizer and gold medalist Sebastian Coe once ran in 14 minutes and 6 seconds -- Christine Lyons has ferreted out a modern-day scene evocative of Victorian England.

...

Minutes after her inspection, standing by the old stable on a street lined with London plane trees, Lyons says dwellings like this are sending living standards back to the 19th century.

“You can’t believe that we’ve gone back to that,” says Lyons, the Newham Council’s leader of planning enforcement. Raw sewage running down streets from poorly connected pipes is one of her concerns, she says. Lyons recalls finding a shed in which the residents had dug a hole that served as a shower drain and toilet.

“We’re now bearing the brunt of the economic failings of the world,” she says.

Bloomberg: East End Has Thousands in Illegal Squalor Near Olympics

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:lol::lol::lol::lol:

Quality.

:lol::lol::lol::lol:

Some of my colleagues spent the last several years babbling about their Olympic rental plans and how they were going to go on an awesome cruise for a few weeks while renting their wonderful near-beach houses out for the Olympics and still be up thousands and thousands of quid in profit and it was going to be super awesome and they were dead clever and sorted.

Of course there's a punchline: the properties were mostly in Mudeford, a mere thirty-odd miles from the Olympic nonsense in Weymouth.

Edit: added "in profit". 

Edited by Horridbloke
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:lol::lol::lol::lol:

Quality.

:lol::lol::lol::lol:

Some of my colleagues spent the last several years babbling about their Olympic rental plans and how they were going to go on an awesome cruise for a few weeks while renting their wonderful near-beach houses out for the Olympics and still be up thousands and thousands of quid in profit and it was going to be super awesome and they were dead clever and sorted.

Of course there's a punchline: the properties were mostly in Mudeford, a mere thirty-odd miles from the Olympic nonsense in Weymouth.

Edit: added "in profit".

Hardly clever, Mudeford is miles from Weymouth, It never even crossed my mind whilst living slightly closer in Bournemouth.

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I got to page 30 of 60 properties per page and I started seeing some nice one bedroom flats for sub-£2,000. I hope they're not all gone before business opens tomorrow.

Maybe Foxtons are open all night to take last minute bookings?

Of course all these empty properties are going to come crashing back onto the normal letting market. I do hope they don't have to give them away.

Edited by Socially Housed
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