In the run –up to the London Olympics, to be held from July 27, trends of tenant evictions are reported. It has been reported that the landlords are asking the tenants to leave their houses so that they can rent it the tourists who’ll be coming to see the games.
For this, the tenants are usually illegally evicted by giving them no notice or a lesser time or else they are being made to sign a clause that for the particular time period, the tenants shall have to make some other arrangement and they can come back and stay after the Olympics.
The private landlords are leaving no stone unturned to seek higher profits from this event. With more than a lakh visitors would be coming to see the Olympics and with the only availability of around 110. 000 hotel rooms in London, thus, most of the landlords are seen capitalizing on this issue in order to make killer profits.
According to the report by Property Wire web site, it revealed, that there has been an increase in the short term lets by 35% available in London’s Olympic boroughs of Barking and Dagenham, Greenwich, Hackney, Newham, Tower Hamlets and Waltham Forest.
All this has an effect on the rental market in London and that is the fact that the rent rates would in future be seen increasing. To add on, a website has been launched called campinmygarden.com for people to set up tents temporarily in the backyard.
To this, the UK Housing Minister, Grant Shapps said: "Landlords should be under no doubt that it is a criminal offence for them to evict a tenant without giving proper notice, and that anyone found guilty of doing this - or of harassing a tenant - could lead to a custodial sentence of up to two years."
All in all, the playing of Olympics in London, would certainly enhance its image in the world over and that it will help strengthen its Global brand image, but what is more ironic is the fact that the locals are a part of the place, either as students from other countries who have come to study or work or people who just can’t afford to buy, are being kicked off for a temporal period only as to woo the visitors.