HOME RENTAL FOR FIFA 2010 IN DEMAND- BUT NOT EVERYWHERE SAY AGENTS
Property and rental experts agree that there is a general perception among Cape Town property owners that the FIFA 2010 World Cup presents an irresistible opportunity to make a lot of money, but caution that this perception isn't accurate in many cases. First time landlords that want to rent out their houses or flats on a self-catering basis were advised this kind of plan needed clear headed consideration.
Lloyd Nasi, Marketing Manager at Trafalgar Properties said the main problem with the event was it's short duration and pointed out that only eight matches were going to be played in Cape Town. “Yes, there is this view that the Cup is a goldmine [for property owners] and in some cases it will be... but only in certain areas”.
Craig Williams, an agent working for Remax said that, “the rental property most in demand is centered around the Atlantic Seaboard and City Bowl” and added that prospects for rentals to World Cup visitors dropped off sharply as you moved away from these areas.
All the experts we spoke to expressed concern that Cape Town's reputation could be harmed by greedy individuals that overcharged visitors and provided poor value for money. While the wide variety of properties and areas prevented him from from giving detailed breakdowns, Williams felt that generally a World Cup rental premium that did not exceed the usual seasonal daily rate by 25%, might be justified.
Ian Slot, a Managing Director with SEEFF, confirmed that his organisation was taking a lot of enquiries for accommodation but said that proximity to the World Cup venues and the practicalities of getting to the matches were the most important factor for obvious reasons. He added however that while there would only be eight World Cup matches played in Cape Town and that the rental window for the event was narrow, many visitors were planning to extend their stay in the Cape beyond the duration of the event as part of a longer holiday. He said he knew of visitors that had already booked accommodation in the Stellenbosche Winelands and planned to drive in for the matches.
The main advantages of approaching an agency to manage the property were that tenants could be secured more quickly and reliably and that the process was safer for the property owner as they had the expertise to conduct proper screening and manage deposits and credit checks. “Also, keep in mind these people are here to party,” said Slot.
Therese Botha, a specialist working for established upmarket rental agency Icon Villas, warned homeowners that without the backing of a reputable agency there were plenty of problems and headaches that a first time landlord could stumble into. She did concede that homeowners could make more money going it alone but added, 'this is a serious shortcut as there are so many loopholes and issues that could occur'.
She said homes that were best suitable to self-catering accommodation were owned by house-proud owners, had de-personalised and clean, uncluttered décor and that were well secured and situated in safe areas. “Having said that, anything simple and tastefully done should suffice.”
One option for homeowners wanting to go it alone is to register their property with MATCH services, which is the first FIFA endorsed accommodation services provider in the history of the tournament to include non-hotel accommodation such as B&Bs, guesthouses and lodges. Contacts for the service can be obtained through the MATCH website at www.match-ag.com/accom2010.
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