Wimbledon prompts short-term rental boom

02 2008
As far from the stereotypical tenants as it is perhaps possible to get, tennis fans and even players themselves are the latest group to see the benefits of renting in London.

With tens of thousands of people heading to SW19 for the second week of the Wimbledon championships, many are opting to rent a room or a house in the south-west of the capital for the duration, both due to the convenience as well as for financial reasons.

In turn, hundreds of local residents are choosing to rent out their properties and even go on holiday for the fortnight, offering rates considerably cheaper than staying in a hotel and much nearer to the on-court action.

Sarah Shortridge, director of short-lets at Foxtons, told the Daily Telegraph: "Applicants are willing to pay a premium for prime location properties in Wimbledon.

"We let properties for two weeks but charge the same price as a month."

Though this is nothing new, the scale of this year's renting is unprecedented as growing numbers of homeowners choose to rent out part or all of their properties as they struggle to deal with the rising cost of living,

This thinking is also behind many Londoners renting their rooms out to tenants for longer periods, giving professionals and tenants the chance to live in some of the more desirable areas of the capital.
ADNFCR-1219-ID-18666444-ADNFCR

Related Articles
Tenants 'can ease financial pressures by improving energy efficiency'
People living in rented accommodation can reduce their outgoings by...

Interest rate reduction 'is not a quick fix solution'
The interest rate reduction effectuated by the Bank of England's monetary...

MPC's interest rate cut 'is not enough to stimulate demand'
Interest rates need to be cut by more than 0.5 per cent for consumers to...

Homeowners 'are getting sucked into a spiral of debt'
An alarming number of homeowners struggling to make ends meet are trapped...

Consumer confidence drops as house prices fall
Economic uncertainty, house price falls, increasing unemployment and rising...