Greedy landlords evict tenants to exploit Olympic rents
As estate agents predict massively increased rents in some areas of London this summer, landlords are attempting to cash in on the profits by evicting their tenants.
Properties typically rented at £350 a week will be marketed at around £6,000 a week during the summer, said one estate agent in East London.
The charity Shelter, who lobby the government to make changes to housing legislation, have said they are worried that the problem will get worse as we get closer to the games.
Although many landlords are acting illegally, in lots of cases landlords are acting well within their means, as tenants sign up with contracts allowing landlords to give just two weeks’ notice.
Tenants who are asked to leave their houses to allow their landlords to benefit from the games are facing a price hike of up to four times their usual weekly rent if they decide to stay.
The BBC’s Michael Buchanan explained: “The potential profits are leading to some private landlords telling their tenants they have to leave their homes, with little notice.”
Lots of tenants have since come forward to say that they have already received notice from their landlords. One woman said that she and her housemates had been given just three weeks to leave, while another couple were given just one fortnight.
The National Landlords Association has already condemned the practice, saying that it is much more beneficial for landlords to have long-term and reliable tenants in their flats and house.