Keyword: landlord
Olympic housing crunch: London landlords evict tenants to gouge tourists
An aerial view of houses in Leyton, east London, in the borough of Waltham Forest, one of the five so-called Olympic Boroughs (Tom Shaw / Getty Images)
Landlords in Britain's capital are evicting tenants so they can cash in on this summer's Olympic Games by charging tourists many times the usual rent. Homes in the east London boroughs where many events are to be held are fetching between five and 15 times their typical rates as properties are rebranded as short-term "Olympic lets." Some landlords are also enforcing expensive "penalty" clauses for tenants who want to remain during the gathering of the world's top athletes.
