Rental goldrush for city property owners

HUNDREDS of Glasgow home owners are hoping to cash in on the Commonwealth Games, with properties on the market for up to £27,000 per month.

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Calvin Haliday hopes to rent out his West End home to help pay for a holiday
Calvin Haliday hopes to rent out his West End home to help pay for a holiday

More than 200 householders across the city are preparing to leave their homes and rent them out to visitors during the 14-day sporting event this summer.

With more than one million spectators expected in the city during Games time, accommodation is at a premium and many Glasgow homeowners are grabbing the chance to make extra cash.

Calvin Halliday, 27, a financial administrator from the West End, is considering renting out his studio flat in July and August.

Calvin said he would be likely to charge a higher price than what he currently pays for rent.

He said: "If people are willing to pay over the odds then it'd be silly not take advantage of the opportunity to make some extra money.

"I can use the money to get away for a couple of weeks during the Games."

Linda Hamilton, 51, a carer from Mount Florida, listed her home on holiday letting site Airbnb, and was inundated with enquiries.

She said: "I was booked from November last year but I started taking enquiries in August.

"I'm booked for the week prior to the Games until a week afterwards, with someone from New Zealand and others all over the world coming to stay."

Linda said she wasn't going to charge more for her home, despite living only minutes away from Hampden Park, however, in other parts of the city, asking prices are reaching as much as £27,000 per month.

One property in the west end is listed at £6300 per week, while others in Kelvinside and Denniston are going for between £1800 and £5000 per week.

Mark Sheppard, of event letting agency Commonwealth Letting, warns some prices may be unrealistic.

He has so far enlisted about 100 homeowners in the Glasgow area through his firm and said that a home "would have to be pretty mind-blowing" to reach rates of £6000 or more.

"You'd have to find the right client; it may be the sort of place Usain Bolt would want to come and stay if he was running in the Games, but even delegates budgets' wouldn't be that high.

"If it was a lovely place you may get a few thousand a week though."

"It's a good opportunity but I think people need to be realistic.

"If you go shooting for the stars then you might end up turning people away."

One site listed a property for £27,000 per month but after a call from the Evening Times reduced it to £18,200 per month, however, it was still listed on another site for the higher price.

Experts have estimated the busiest point for property rentals is yet to arrive, since the final teams for the games are still undecided.

Qualifications are due to be confirmed in April, after which it is expected Glasgow will see a surge of athletes, staff and fans looking for somewhere to stay.

Other city estate agents have also been overwhelmed with requests, both by those who want to rent and prospective tenants.

Sally Beard, a director at city letting agency Fine Holm said: "We actually refer to it in here as the 'C word', as we get so many people who want to rent their flats for the Commonwealth Games.

"We have about ten people a day contacting us about renting out their house, and about two or three every day looking for accommodation.

"There are a lot of people from down south, or the rest of the UK and we've also had people from overseas, for example relatives of people who are participating, looking for somewhere to stay."

Sally agreed that renting is a good way to make extra money during the Games, however advised those thinking of doing it to remember the practicalities involved, such as removing personal objects and clothing.

Brian Moran, the Scottish spokesman from the Association of Residential Letting Agents (ARLA) agreed, and said: "It is best to have the property inventoried, and minor things that people tolerate because they live in a property need to be dealt with - things like changing light bulbs and cleaning outside areas.

"Another thing is personal effects - lock them away or store them in a safe place so you don't have to completely decant yourself."

Brian also recommended that people factor in the cost of bills into their rental price, and notify their mortgage and insurance providers before renting out their homes.

hannah.rodger@ eveningtimes.co.uk

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