Advice for Landlords: Furnishing Olympic Lets

The 2012 Olympics are set to see a massive boost to our economy, with anything up to £10-12 billion pounds generated by the games. With an expected 4 billion people around the world expected to watch the opening ceremony alone, it’s easy to see why the attention the Olympics receives has led to a lot of excited landlords.

Demand for houses and apartments in areas close to Olympic sites is already incredibly high, and the potential charges could make those willing to let their properties a tidy profit; very tidy indeed. Agents are suggesting that landlords could charge anything from £2-10,000 per week depending on the size and location of their property, with popularity for those nearby to stadiums and Olympic venues the most popular.

The short term Olympic lets have lead to a great deal of debate in some quarters, and accusations of unscrupulous landlords turfing out tenants just to cash in for 16 days are rife. On the other side of this are honest landlords, letting agents and in some cases, homeowners who are looking to rent out empty properties legitimately during the games.

Potential tenants for these short lets are looking for a hassle free solution to housing during the games, and this means a fully furnished property with all the modern conveniences. Whilst many of these properties will be furnished, landlords looking to let empty properties need a furnishing service that doesn’t cost them an arm and a leg and won’t take time and effort; namely, furniture hire.

Furniture hire is incredibly good value for short term lets, giving landlords and agents access to a wide range of high quality, durable furniture at a fraction of the cost of an all out purchase. When you're letting out a property at such high prices, you need furniture that doesn't just have the looks, but also has the quality. Whilst scraping together a bit of furniture and purchasing what's missing might seem like a solution initially, don't forget that potential tenants are likely to be weighing up whether or not to rent the property based on the look of the place. 

Furnishing a property can take a good deal of time, and whilst a hire company can't provide you with everything you need, they can certainly provide you with almost everything you need, from the white goods all the way down to the cutlery in the kitchen draw. Totting up the individual costs of miscellaneous furnishings, fittings and anything in between, the costs quickly mount up and profits go quickly down. 

Many hire companies also offer furniture packages; sets of furniture pre-compiled for certain rooms or in some cases, for the whole property. These really can take the hassle out of furnishing, allowing you to choose from furniture sets that are handpicked and compiled by interior design teams and furniture professionals.   

If you're a landlord considering a short term let during the olympics, or a homeowner looking to make the most of a great opportunity, you need to make sure that your property is going to attract the right kind of attention from potential tenants. Being lucky enough to live or own a property in a certain area might not be enough; you've got to make sure your place is really well furnished too.