Escape the crowds, stay on a sandy beach:
Why get lost in the crowd if you can easily watch your favorite sports on TV, while relaxing on a wonderful sandy beach? Since almost everyone in the world is wishing to be in London for the Olympics – and many of them are actually planning to – your room or apartment might be a rewarding way out. Many hotels are already sold out, as you may know, and a big number of tourists are going to invade the city. This is why your house can play a winning role in the Games. And you can definitely consider yourself kissed by fortune if your flat is located anywhere around a new or existing London 2012 sport venue: most visitors will be happy to pay for it, and allow you to enjoy your dream break out of the chaos. Also, posting on Flat-Club means that your guest will be someone you can trust.
Post your place today:
First of all, consider how long you can leave your home and keep your calendar up-to-date: plan your own stay well in advance (at least 90 days before the event is recommended. We have bookings from August 2011 – a year in advance! this means that you should be posting your flat or room today!). Clearly state how many people can be accommodated: list the number of rooms, beds and sofas. And now, let's think about maximising your chances to rent your flat. Or, as we love to say, your “rentrepreneurship”.
Maximize the potential of your place:
Try to look at it as if you were about to pay for it: is it messy? Tidy it up, while thinking about your wonderful vacation. Do you have a sofa bed that can accomodate two more guests? Find a place for it and update your posting. Provide your guests with towels and new linens, trying to coordinate colors and styles. Remember that sometimes you just need to add a simple detail, like a new pillow or colored courtain, to make the room look brighter and cosier. If you really want to meet high-level standards, you may want to include a Wi-Fi connection, a flatscreen TV and design furniture. Anyway, set your flat at its best, and you can make a lot out of it!
It's all about the pictures:
Finally, let people see how cozy and beautiful your place is: take good pictures of your shining flat showing spaces, rooms, bathrooms and utilities. Feel free to contact us if you need professional high quality pictures of your flat to be taken. The service is completely free.
Ask for 2-3 times your long term rent:
Now that you’ve made up your mind about what to offer, you can think about how much you can make out of your place. Check your expenses (cleaning service, laundry, etc) and add them to your rental rate. Our advice is to consider your rental rate and ask about three times as much.
Under the “Rent a Room” scheme of the UK goverment, you can earn up to £4,250 tax free if you let furnished accommodation in your own home. If letting jointly this figure is halved to £2,125. These figures include income from things such as rent, meals provided and laundry services. You can also qualify for relief on the money spent for decoration, advertising and legal and financial advice if you’re renting out your entire house.
For more information visit the “Rent a Room Tax Scheme”.
Important points to remember:
- Make sure your home is up-to-date as per the current safety regulations about electrics, gas etc.
- Verify whether you are allowed to let short-term: either contact your mortgage provider or check your lease (in case your property is on a block or in a complex).
- Please consider that in most London boroughs you will not have to inform the local Council about your intention to rent out your flat. Nevertheless, if your property is located in Southwark, Tower Hamlets, Islington, Kensington and Chelsea, Westminster and Camden, a local permission is required.
After all these considerations, it's time to post your flat and think about your well-deserved vacation!