Short lets for sports events
Renting out your property during a major sports events, such as the annual Wimbledon Tennis Championship or the Henley Regatta, is a great way to earn some extra cash.
It’s also an option for landlords with multi-let properties who have vacant rooms at the time, or those with temporarily vacant properties, for instance, when a tenant has just moved out.
Many cities don’t have enough hotel beds to accommodate all the fans that turn up to major sporting events, which means room rates rocket, so often fans are looking for alternatives.
There are also many media outlets, catering organisations and other types of companies looking for accommodation for staff and, of course, often the event participants themselves are looking for somewhere to stay with their families, managers or coaches. For example, during the Wimbledon Tennis Championships, many of the well-known players rent entire houses in nearby Wimbledon Village and the lesser ranked players rent rooms in local homes.
If you’re interested in renting out your home or just a spare room during a sporting tournament, there are lots of websites where you can advertise for free and you only pay commission when you get a booking. You’ll need to load your own ad on to the sites, take some photos and decide how much to charge and respond to any queries.
Here are some of the most popular websites you can sign up to:
One advantage of letting a room in your own home is that any rent up to £7,500 is tax-free. However, if you decide to let a spare room or your entire house, make sure you inform your insurance provider and check there are no restrictions on short term or holiday lets with your local council and your freeholder if your property is leasehold.