Landlords Warned to Watch for Sub-letting during the Olympic Games

21 July 2012 Categories: News

Landlords Warned to Watch for Sub-letting during the Olympic Games

Housing minister Grant Shapps has this week warned both private landlords and councils to be aware of sub-letting during the up-coming Olympic Games. It is thought that hundreds ofLondontenants will attempt to let their rented properties to visitors for the duration of the games, with the obvious intention of making a huge profit.

This warning comes just days before a government-backed private member’s Bill is read which would make it a criminal offence to sub-let any council owned property. Tenants caught sub-letting their social housing would be prosecuted and forced to pay any profits to the landlord in question, and it seems Mr Shapps is in full favour of the Bill.

When asked about the threat of sub-letting during the Olympics Mr Shapps said, “Anyone in Londonhoping to profiteer by sub-letting their council house in the coming weeks needs to know that they could lose their tenancies by unlawfully renting out their home.

“The Olympics are a great opportunity forLondon to welcome the world. They are not an excuse for wide boys to rip off the taxpayer. We won’t allow cheating outside the Olympic Park any more than it will be allowed within it.”

Private landlords have also been warned about the threat but they have the added worry that any insurances they have on the property could be invalid during the sub-letting period.