Play fair and let properly during the Olympics

The National Landlords Association (NLA) has issued its top ten tips for homeowners wishing to let their properties to people visiting London and other UK cities during next year’s Olympic Games.

The 2012 Olympics will open one year from this Wednesday (27th July 2012.)

Homeowners who fail to let their properties by correctly following the relevant regulations can find themselves out of pocket and even falling foul of the law. The NLA advises that homeowners use the following ten points as guidance if they wish to rent their homes as a short-term holiday let:


1)    Ensure the accommodation is properly furnished and includes beds, sheets, towels and appliances – a Wi-Fi connection will be an advantage

2)    Keep the property to a high standard, tenants visiting during the Olympics will expect good quality accommodation

3)    Check the terms and conditions if using a letting agency to find a tenant; typically, they charge a commission of up to 25%

4)    Use a letting agent that is registered with a professional body such as the UK Association of Letting Agents (UKALA) or the Association of Residential Lettings Agents (ARLA)

5)    Issue a contract for a Holiday Let or Licence. This can be downloaded from a reputable service that supplies such legal forms such as www.oyezforms.co.uk

6)    Be aware that this type of tenancy contract does not fall within the legislation requiring a tenancy deposit to be protected in a government-authorized tenancy deposit protection scheme

7)    Take an inventory detailing the contents of the property

8)    Ensure that rent for the whole tenancy is obtained upfront

9)    Supply enough sets of keys for the number of people renting the property

10)    Provide information about the area, such as maps, an events calendar and transport advice.

David Salusbury, NLA Chairman, said:

“It’s important that homeowners wishing to let their properties during the 2012 Olympics are aware of their responsibilities to tenants, as well as the various regulations they must comply with.

“Homeowners who fail to let lawfully and fairly may end up falling foul of the law.

“The NLA recommends these guidelines to ensure a successful experience for both the landlord and tenant as they visit the UK to enjoy the 2012 Olympics.”

-ENDS-
For further information, please contact:
Dane Svenson, Press Officer, NLA
0207 840 8925
dane.svenson@landlords.org.uk


NOTES TO EDITORS:
The National Landlords Association (NLA) is the UK’s leading organisation for private-residential landlords. It has over 20,000 paid members, ranging from full-time landlords with large property portfolios to those with just a single letting. NLA membership helps landlords make a success of their lettings business by providing a wide range of information, advice and services. The NLA campaigns for the legitimate interests of landlords by seeking to influence decision-makers at all levels of government and by making landlords’ collective voice heard in the media. It seeks to raise standards in the private-rented sector while aiming to ensure that landlords are aware of their statutory rights and responsibilities. Based at its head office in Central London, the NLA currently employs over 40 full-time staff and has a network of more than 40 regional representatives and branches throughout the UK.