When you heard about the impending nuptials of Prince William and Kate Middleton, did you run right out and start buying memorial tea towels and mugs bearing the young couple's faces? Or did you want to bury your head in the sand and start humming loudly so as to drown out any talk of the wedding plans? Either way, have you considered that as a resident of London you could make some money from the royal wedding?
FindaProperty conducted a survey and found that London homeowners could earn £100 million by competing with the capital’s hotels during the weekend of the Royal Wedding. According to the findings of the report one in four London homeowners are considering renting out part or all of their homes for the weekend of the April 28 ceremony.
What sort of money could be made from your London property?
Well, the survey found the average price people are willing to let out a spare room for is £38 per night. Three-quarters of those planning on capitalising on the royal wedding are planning to charge less than £50 a night, with five per cent planning to charge £100 per room a night and a very ambitious one per cent are rivalling London’s top hotels, charging over £300 a night.
Most people opening up their London homes to fans of the royal couple are offering to let out a single spare room. If you are the type who is rather sick of hearing about Wills and Kate you might prefer to vacate your home for the duration of the event and rent out your whole property - more than a quarter of the respondents to FindaProperty's survey said that they are considering doing just that. A further four per cent are looking to let out three or more of the rooms in their homes.
It's a great way to make money from your property. You could say that you can have your cake and eat it too!
Thinking of letting out your property for the longer term? Let our award winning lettings team get your property making money well beyond the weekend of the royal wedding, call us on 0208 567 6660 or request a free, no obligation valuation here.
Source: Open your doors to the Royal Wedding guests http://blog.findaproperty.com/general/open-doors-royal-wedding-guests/#ixzz1C9Fkleby
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