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Cashing in on the Olympics

The rental market during the London 2012 Olympics is going to be huge, and many ordinary Londoners are looking for their slice of the rental pie, with 36 percent suggesting that they'd be willing to rent out their spare room during the Olympic Games.

According to Findaproperty.com some properties in Greenwich, where equastrian events are due to be held, are already fetching as much as £24,000 a week.

Samantha Baden, from FindaProperty.com, said: 'Londoners seem to have cottoned on to the vast amounts of money flowing round the capital during these major events, and there’s a growing determination not to see it all end up in the pockets of hotels. The Games will be even bigger than the Royal Wedding weekend, and the internet allows people to tap into these short term lettings markets with very little effort.

'Even if all the Londoners renting out their home did so for just one night each, the total market would be worth £314m. But most people will probably be renting out for much longer periods – from a week up to a whole month while the athletics is on, for instance.'

Seems like a once in a lifetime opportunity to make some dough. We recommend you start researching now places to advertise your room before taking the plunge.

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