Olympics 'forcing tenants out of their homes'

News Category: Industry News

An increasing number of landlords in London are planning to cash in on the Olympics by evicting tenants so they can rent homes to visitors prepared to pay large amounts for accommodation.

This is according to Antonia Bance of the housing charity Shelter, who told the Metro how the games are creating trouble for many of those renting in the capital.

"It's a strong possibility that a large number of east London tenants may face eviction, rent hikes and losing their homes as a result of the Olympics," she stated.

Experts have warned a shortage of accommodation may mean some landlords become tempted to give individuals notice in April or May and offer their properties for inflated prices during the summer event.

It is thought homeowner could charge as much as £7,500 a week for a two-bedroom flat in Tower Hamlets or Hackney, where rent is usually around £1,400 a month.

There are 175 days until the London Olympics 2012 begin, with the event scheduled to take place from July 27th until August 12th.

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