HOMEOWNERS and landlords in Wanstead and Woodford could be set to cash in as the rush to rent properties ahead of next year’s Olympics intensifies.

There is now less than a year until the Games begin in Stratford, and local estate agents say demand for nearby rental accommodation is picking up.

Chris Ping, a partner at Kurtis Property Services on Wanstead High Street, has been taking calls from overseas corporate clients interested in renting during the Olympics.

He said: “I would 100% recommend people look into the possibility of renting out their properties.

“You would normally be looking at around £1,300-£1,400 a month for a three bedroom house in Wanstead.

“I think you would be looking at as much as £2,500 per week for the same property during the Olympics.”

Kerry-Ann Goddard, Lettings Manager at Kings Group, South Woodford Lettings on George Lane, said she expected enquiries from landlords and prospective tenants to increase the nearer we get to the Games.

She added: “You could possibly achieve the same rental income in a week as you would normally get in a month.

“I live in Walthamstow, and I might think about letting the property during the Olympics.

“We are definitely gearing up for an increase in enquiries in Woodford.”

Many residents are attempting to bypass estate agents fees by offering their homes to prospective tenants online.

Anna Derkacz, 28, of Hermitage Walk in South Woodford, has put her three bedroom flat on two free-to-advertise property websites as well as listings site Gumtree.

She is asking for £1,500 a week while her mother, who lives on Draycott Road in Wanstead, is asking for £3,500 per week for her five bedroom property.

Miss Derkacz said: “I want to be here for the Olympics, so I would stay with family or friends while I rented my place out.

“It does seem like a lot of money, but I have friends in sports marketing who say there are a lot of people getting corporate allowances to rent places during the Olympics.

“If I can rent it out I will use the money to do up my kitchen.”

Angie Heathfield, 58, is also planning to rent out her five bedroom house in St Albans Crescent, Woodford Green, during the games.

She has already had email enquiries about the property from America.

She said: “We will be looking for between £100-£150 per night for a double room and will use the money to help pay off our mortgage.

“The way I look at it is that the Olympics aren’t going to come here again in my lifetime, so I might as well try to take advantage.”

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