Scoring During the 2010 World Cup

Let your property work for you

As excitement mounts ahead of the 2010 FIFA World Cup, many home-owners are eagerly anticipating the potential income they may secure by renting out their homes to soccer fans.

But, Pam Golding Properties’ Western Cape rentals division cautions that they must be careful. Property owners are urged not to jeopardise long-term rental agreements in exchange for possibly scoring a quick return over the short duration of the tournament.

Home owners are advised to proceed with great caution, as the fan rental market might not be as large as they anticipate. It would be very short-sighted for home-owners to turn down good long-term leases now, in the hopes of securing exorbitant rentals for the four week period of the World Cup.

They risk competing against a potential over-supply of properties on the rental market, or encountering price resistance from visitors.

There is currently much activity at the top-end of the Atlantic Seaboard rental market, and this is one area where the potential for World Cup contracts is quite high. When one considers the kind of clients who will fly in for the tournament, your average football fan will already have paid a lot of money for a long-haul flight to South Africa, and will probably be looking for moderately-priced accommodation, possibly moving between a number of different centres.

However your well-heeled client such as the celebrity soccer fan or high-flying international business traveller may rather wish to secure an upmarket base for the duration of the tournament, and possibly the weeks before and after.

According to Pam Golding, top-end homes on the Atlantic Seaboard are currently fetching around R10 000 per room per month. There is particular demand from business people relocating to the Cape, especially from Gauteng, who wish to rent while they get a feel for the city and decide which suburb they would like to buy in.

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