Are you sitting on a small fortune?

Get hitched to the royal wedding or join the Olympics race to let property

If you own a property in Hackney or have a potentially empty bedroom in your pad, now is the time to think about cashing in on the 29 April 2011 royal wedding and next year’s Olympic Games.

Estate agents and rental websites have been busy hyping the potential profits for people willing to get out of London during these events. Or should I say, able to get out of town (given that most Londoners probably want to be anywhere but here during these events)?
Hackney’s lure for visiting royalists is that it is about 30 public-transport minutes from the City and West End.
Olympics fans will be attracted because the borough is less than 15 east-west railway minutes from Stratford station. Some sports-lovers — obviously not those wearing Bermuda shorts — may be lured even by the Greenway, a 2.3km cycle/foot path being built from Victoria Park to the Olympic Village.
The easiest course of action for profit-seekers is to let a room or rooms rather than go to the trouble and expense of vacating the home and letting it as a whole.

Publicise the rental offering via an established local estate agent or one of the many cash-in rental websites that have evolved. Be wary of agents who spin about London houses being snapped up at £5,000 a week and modest one-bed flats fetching £2,000-plus; over-excitement could lead to disappointment.
You can also puff your room(s) on Facebook, Twitter or other social-network sites, or start a blog and include details and photographs of the lodgings. NB, on Twitter commercial advertising should include in brackets the word “ad”.

Remember, too, that property mini-moguls must do more than just take money from tourists, including:
* checking that a short-term let is permitted under any lease, mortgage or insurance policy;
* warning neighbours that new people will be using the property for days or weeks;
* tidying and cleaning inside and outside the home;
* considering rental for personal items;
* making visitors feel as welcome as possible.
From that, of course, comes the greatest reward.

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2 thoughts on “Are you sitting on a small fortune?

  1. I find the pic caption a bit confusing. Is that Fellows Court, viewed from the south and looking north?

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