Make Money from The Commonwealth Games

Many Glaswegians may have been disappointed that they did not receive any tickets for the Commonwealth Games at the first allocation but be heartened to note that with the influx of visitors to Glasgow for the Games there may be an opportunity to make some money by renting out their properties as a holiday let.

Between the 23rd July and the 3rd August 2014, at the 20th edition of the Commonwealth Games, it is expected that 6,500 athletes from 71 nations will be converging on our “Dear Green Place” to compete in 17 different sports. Add general spectators, relatives of competitors and staffing members and you will get an idea of the numbers of people who will be seeking accommodation.

Hotels in the city are already nearly full to capacity and letting agents are beginning to sign up private properties to be rented out during the Games. Agency Commonwealth Letting as of now have properties listed, including a two- bedroomed flat in the City’s West End for £1750 per week.

So whilst now may be the perfect time to consider a holiday let , we would advise you not to just jump in there blindly. Although a lot of rental legislation isn’t designed to apply to holiday lets this does not mean that it is just a case of having extra sets of keys cut and opening the door.

Certainly you do not need to register with the local authority as a landlord but you do still need to consider certain points:

  • Your home must reach the tolerable standard and repairing standard
  • You will need to advise your mortgage lender and insurance providers as they may need to amend the terms of your policies
  • You should ensure all smoke detectors work
  • You will need Gas and Electricity Safety Certificates.
  • You should be aware that rent is considered  income by HMRC and tax will require to be paid.
  • In assessing the amount of rental being asked you should build into that utility bill usage.
  • Preparing an Inventory of what is in the property and its state of repair is helpful to avoid issues at a later date.

We are property experts and are here to help. For advice please contact Alison Gourley ajg@mitchells-roberton.co.uk

Tickets Galore

Not long to go now to register your interest for tickets to next year’s Commonwealth Games as the ticket ballot closes on Monday, 16th September 2013. The people of Glasgow are starting to really buy into the idea of world class sporting action taking place on their doorstep with last year’s Olympics undoubtedly boosting the mindshare ahead of the action getting underway in 313 days time at Celtic Park.

Organisers are said to be ‘delighted by the enthusiastic response’ amid rumours of public interest being far stronger than expected. While I am thrilled that ticket sales are going strong, it also fills me with trepidation that we could see a repeat of the ticketing fiasco that marred last year’s London Olympics. I hope that lessons have been learned and we can avoid ruining Glaswegians’ growing goodwill towards the competition by implementing a fair ticket selection process.

The prestige event is of course the 100m at Hampden Park on 28 July 2014. If as rumoured Usain Bolt does compete then it could be one of the last times to see the legendary Jamaican sprinter run the 100m at a major event. Ticket prices range from £15 to £90 and must be the golden ticket of the competition, even if you probably have no chance of getting one! I however am more realistic and my current ticket applications are for the ‘less fashionable’ sports – Boxing at the SECC, Table Tennis at Scotstoun and Gymnastics at the Hydro. There will be no athletics or cycling for me.

I, for one, am very excited for the games to get underway and expect Glasgow to show itself to the world as a city we can all be proud of. Don’t miss your chance to be part of history. Remember “People make Glasgow.”