Search for properties on our special Short Lets Edition  | It's that time of year again when around half a million tennis aficionados cram into SW19 to see the world's finest compete in the Wimbledon Championships. But the winnings, which this year amount to a total of £11,282,710, are not the only prize on offer. Local residents stand to make a small fortune from letting out their homes to players and their entourages. The lack of hotel accommodation in the area means that a place to lay your racket within walking distance of the All England Club on Church Road, will be highly prized between 25th June and the 8th of July this year. But to make really good money, you need to be renting out top accommodation to the best players, shakers and movers. |
 | Wimbledon Tennis Lettings is one of the specialist companies that provides top seed accommodation for the Wimbledon fortnight. Owner Margaret Heenan says that she lets to all of the 50 best male and female players, as well coaches, agents, media staff, and corporate clients during the Wimbledon Championships. They type of accommodation Margaret deals with varies from two-bed apartments to nine-bed mansions. And owners can expect to earn anywhere from £1,000 up to a staggering £9,000 a week for a very large property. |
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Expectations are high and the properties in this price range have to be in excellent condition, preferably recently refurbished, with at least two bathrooms for a two, three or four bed, and three bathrooms for bigger properties.
And the styling is important too. Neutral is best, but above all, anyone trying to attract top players or officials should avoid anything flowery or chintzy.
"A lot of people will spend the money they get from rental on improving their homes," says Margaret. "But if I see somewhere that's not quite right it probably wouldn't make good financial sense to do the work just to rent out once a year."
To demand the highest rent you need to be in precisely the right area. "You'll gain most between the All England Club and Wimbledon Village (stopping at the Grange), which is a 10-15 minute walk," says Margaret. "It's a tiny area, but within it there's a lot of choice."
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The rewards are certainly attractive, but turning your family home into a comfortable, but neutral base for someone else can also be inconvenient and a lot of work.
This doesn't mean you have to strip your house of all of your personal belongings. "Some people do take down their family photos," says Margaret, "but you don't have to."
But you do need to leave adequate space in the bedroom for clothes and in the kitchen for food. The important thing is that it's clean and ready to use, with necessities such as linen and cutlery to hand.
And though they may not share your taste in music, most tenants will appreciate having use of your CDs to relax after a tiring day at the centre court.
And then, of course, you have to find somewhere to stay until the tennis is over. "People tend to take a holiday or go and stay with family," says Margaret. "Some even relocate further away. The problem can be if they have children in school."
And remember, it's not all profit. Agencies will take 15 per cent, and you will probably have to pay tax. The Inland Revenue has been known to clamp down on Wimbledon residents who omit to declare their windfall.
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The top end of the market may be mostly sewn up by the handful of specialists, but there are still opportunities for others to take advantage of the season, particularly once the main players have taken the pick of the properties.
Marco Baptista from local agent Brinkley says: "We do get quite a few calls closer to the time, from corporates, but also from families coming over for Wimbledon.
"And from people who decide to offer their properties at the last minute. It could be investors who have an empty property, or families who decide to go and stay with friends.
"We've just taken on a 2 double bed apartment with a balcony on Augustus Road for £1,000 a week. If this was a long term let it would be about £1,100-1,300 a month."
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Annie Pearson, at Wimbledon letting agent Hunter Residential, says they experience strong demand for short-term lets all year round.
And, according to Annie, even if you don't own a perfect property in a prime location, you may still be able to rent out your home.
"I did it myself a few years ago to some Australian coaches who were on a budget. I've only got a small flat, but the money was easily enough to pay for a holiday."
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Got a spare room and want to earn your holiday money without uprooting your family? What about tuning your home into a B&B for a couple of weeks?
Wimbledon Homes Bed & Breakfast matches guests with rooms, and is particularly valued by qualifiers who may only need accommodation for three or four days.
Owner Jane Scoon recruits households from within walking distance of the All England Club that can provide a high standard of accommodation, a good continental breakfast and, she says, very importantly, a warm welcome.
With a more modest price range of £70 to £75 per night, the B&B option is very popular among junior players, journalists and umpires throughout the fortnight.
Don't live in Wimbledon ? Don't worry, you may still be able to profit from short-term lets.
There are many thousands of events each year that bring with them crowds that need housing. And, with a little local research, many of us could find our very own Wimbledon windfall on our doorstep.
Coming up...
• Cheltenham Gold Cup 13-15 March 2008
• Edinburgh Festival (and Fringe) 5 August - 2nd September 2007
• Hay On Wye Festival - 26 May - 4th June 2008
• Glyndebourne Opera Season 19th May - 26th August 2007
• And, if you can wait that long, the 2012 Olympics 27 July to 12 August 2012
Nikki Sheehan
