Some visitors attending the 2012 Olympic Games in London, especially those travelling from abroad, are already beginning to suss out available rented accommodation in London. In response to demand, landlords with properties in the areas around the main Games venues in south east London are marketing their properties and pricing them for the event.

Landlords are even reporting being offered prices 250 to 300 per cent more than their usual fees to let their properties during the Olympic Games and the rental prices make interesting reading.

A one bedroom flat in Greenwich, which would normally be about £1,229 a month is available to rent during the Games for £1,692 per week.

A three bedroom property in Stratford, east London, close to the Olympic site, which usually rents for £1,800 a week during the holiday season, is being let for £3,500 a week during the Games.

In Blackheath, a minute from the entrance to Greenwich Park, which is hosting the equestrian events, the owners of a five bedroom house are trying their luck with acquiring £10,850 per week rent during the Olympic Games.

Luxury properties with additional features, such as a swimming pool or gym, can command much higher prices.

If you’ve got a property in the London area and want to cash in on the Olympic effect, then now is definitely the time to give it some serious thought!

Like some of the other methods of locating and identifying property hotspots, the positive influence that major sporting events can have on a location are well documented. The South African property market has spent the last few years building up to 2010, and hosting the World Cup, as did Vancouver, in Canada, which has just held the Winter Olympics.

If a major international or national event, such as World Cup events, the Winter Olympics or Olympic Games are scheduled to take place at a particular location, one of the first things people begin to think about is accommodation.

Not only does an area need to have enough accommodation to comfortably house all the sportspeople, but also their entourage of coaches. Then there’s the small matter of having suitable accommodation for all the spectators that will want to come and see the event, and all the media that will be reporting on it. During any building work, for example construction of a stadium, then accommodation nearby may also be required for people involved in the building work.

Even though the London 2012 Olympics are still two years off, reports are suggesting that tourists are already booking up accommodation in the city and property owners are beginning to think about the prospect of letting their properties for the event.

Having property in the right area and being able to cater for the rental property needs for major sporting events can be lucrative in the short term, but isn’t necessarily simply a short-lived bonus. Often areas hosting major sporting events undergo regeneration and considerable improvements to infrastructure in the lead up to the event, which leaves the area in a good position after the event is over.

Keeping an eye out for details of major sporting events, especially the locations where accommodation will be needed or players will be housed, and seeing if a property purchase in the area may work for you can lead to a good deal. If you’ve already got a rental property in the right location, then don’t forget to take action and see if you can make your bricks and mortar work in your favour!