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July 10, 2018

Short-term lets in Wimbledon

Filed under: Blog — Instinctif Partners @ 11:36 am

With the oldest tennis tournament in the world in full swing, we would like to discuss the short-term lets market in Wimbledon and the effects the tournament has on the area’s market. The Championships, Wimbledon, is held at the All England Club and is widely regarded as the most prestigious Grand Slam tennis tournament. The commencing of the tournament means tennis players and their coaching teams, alongside tennis-loving fans of all ages and destinations, descend on the southwest London district in their millions. With the influx of visitors and tennis professionals comes a need for accommodation throughout the duration of the tournament.

 

Demand for short-term accommodation

Wimbledon poses great opportunities for landlords within the southwest London district. As you can imagine, interest for short term lets during Wimbledon increases dramatically. The increase in demand means landlords can often achieve more money on their properties during the duration of the tournament. Our clients can often expect to achieve substantial increases on their standard rental price over the Wimbledon fortnight with a property usually achieving £3,500 per calendar month, having the potential to generate at least £3,500 per week!

Available for sale through our Wimbledon branch, this apartment overlooking the AELTC could achieve up to £3,000 per week if let during the Championships.

Our typical tenant

So, who typically decides to rent our Wimbledon short let properties? In essence, there is a plethora of prospective tenants. Players, coaches, tennis fans, television and media companies, and sponsors all choose the short-let option in Wimbledon. Tenancies normally commence on the weekend before Wimbledon and tend to last throughout the duration of The Championship tournament. Interestingly, some players and coaches may even book a few weeks earlier to aid their preparation for up to a month.

 

 

The desired house types

Alike the wide mix of tenants, many different types of properties are rented out. Generally, the location of the home has to be within a 10 minute walk of the All England Lawn Tennis and Croquet Club and it must be fully furnished. Expected furnishings should include everything from Wi-Fi and television, to bed linen and cooking utensils.