Tenants being priced out to make way for Olympic lets | Money | guardian.co.uk

Tenants being priced out to make way for Olympic lets | Money | guardian.co.uk

Tenants in London are being priced out of their homes because their landlords are hiking up their rent during the Olympics and Paralympics.

Properties are being advertised for rent for as much as £100,000 a week over the Olympic period in some well-heeled parts of west London, while tenants closer to the Games sites are finding their rents increasing up to fourfold.

One tenant living in east London said a clause had been added to his rental contract last year that said there would be "a minimum increase of 4.0x multiple of the current weekly rent during the Olympics and 2.0x multiple of current weekly rent during the Paralympics".

"There was no mention of it [the increase] outside of the clause being added," he said. "I am going to have to move out."