London landlords 'should not take advantage of Olympics'
Landlords in London should not try and drive up rent over the Olympic period.
This is according to Michael Banks, commercial director at Upad, who observed it would be "somewhat foolish" of property owners to adopt such a short-term approach.
If people follow the guidance offered by the expert then the majority of property to rent in London should be available at reasonable rates.
Mr Banks stated: "This huge boom of house building that has been happening in the east end is going to weaken the housing market in the 12 months following the Olympics."
He went on to note any landlords taking their role seriously will not seek to take advantage of the Games - which get underway on July 27th - as they will already have their tenants tied in to long-term contracts.
And his comments come after figures from WA Ellis point to the fact prime Central London rents continued to drop in April.
Posted by Ben Carter
Published 2nd May, 2012
© 2012 Estates IT Limited
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Landlords would be foolish to try to drive up their rents in the short term.