With the Summer Olympics right around the corner, hotels and housing options are becoming difficult to find around the London area. When the games begin in July, an estimated 300,000 visitors will head to London and likely book more than 140,000 hotel rooms. With demand significantly higher than supply, some London residents have decided to get creative and create housing options for visitors. According to Bloomberg, Londoner Natasha Corne plans to rent out her backyard for $24 a night.
“I’ve jumped on the Olympic bandwagon,” Corne said. “I haven’t got a massive garden, but there’s enough space to sleep eight.”
Corne says she has set up a tent on her 1,750 square-foot plot of land and will set up a barbecue in July. The $24 per person, per night rate also includes a full English breakfast. She and several other London residents are advertising their space on a website called www.campinmygarden.com.
“There are simply not enough rooms available across all price classes,” an STR Global marketing director named Konstanze Auernheime said. “That’s why many Londoners see this as an opportunity to offer accommodation with a local flavor for less money.”
Other London-area residents are planning to rent out their houses and apartments. Homeowners can rent out a furnished room for up to 4,000 pounds ($6,350) without paying any taxes. As you can see, business and money-making opportunities are quite abundant when the Olympics are in town.