
This was a perfect article I found in the Herald Sun. It discusses what agents are saying the Olympic rentals, with homeowners trying to cash in on the London Olympics.
"With the London Olympics only months away, agents are seeing a surge in enquiries from homeowners looking to rent out their property and take advantage of an expected increase in tourist numbers. For those looking to invest in a buy-to-let property, there are certain steps you should follow and many pitfalls to avoid.
To highlight the latter, here are the top 10 tips to be a rubbish landlord:
1. Pick a rubbish property
Picking a rubbish property is the fastest way to deter tenants. Make sure you invest in a house in a bad location and with poor transport links. Do not research the property you buy and avoid searching on a professional property portal.
2. Evict your tenants
If you're already letting out your property, tenants who pay their rent on time are a guaranteed source of income. But some landlords are evicting them in search of higher short-term profits from tourists, risking their investment yields. You should obviously follow suit.
Antonia Bance, head of campaigns at housing charity Shelter, told us this week: "Lots of letting agents are writing clauses into contracts being signed saying you can live here with the exception of this period [during the Olympics]."
Make sure you have the cheapest load of rubbish removed from your property before showing people through your home.
