As thousands of spectators from across the world flock to the capital to see the games, Richmond is expected to be awash with visitors coming to view local events like the cycling road race or looking for accommodation with easy access to central London.
David Laycock, managing director of web agency Red Snapper, believes residents could earn up to £650-a-week per room and £7,000-a-week for a five-bedroom house during the three weeks of the games. And he has just launched a website to help people advertise homes for Olympic lets.
He said: “With the 2012 Games less than six months away, prices for hotel accommodation are soaring and there is a huge demand for rooms, flats and houses of all sizes.
“The amount of extra cash that can be earned depends on location, décor, facilities etc, but residents should expect at least double the normal rates during such a busy period.”
Mr Laycock’s website, staynearby.co.uk, links homeowners and visitors including spectators, competitors and journalists, who are looking for accommodation for the Olympic period of July 27 to August 12 and the Paralympic period of August 29 to September 9.
One of a new breed of websites established to help Londoners cash in during the Olympics, it aids homeowners wanting to rent out a room, flat or house for the games, as well as other big events across the country, to advertise their property for a one-off fee of £59 with no commission for bookings.
My Laycock said: “The Olympics are unlikely to be in London again during our lifetime so it’s a fantastic opportunity for people to make a bit of extra money as well as becoming part of the Games experience.”Events across the borough during the 2012 games include cycling at Hampton Court Palace, Richmond Park and Bushy Park, tennis at nearby Wimbledon and volleyball at easily-accessible Earls Court.Those who rent out homes must declare extra income to the taxman.Homeowners renting out rooms have to pay tax on earnings over £4,250 a year and should speak to their mortgage lenders to check for restrictions first. People in rented properties should check what their lease allows them to do before advertising their rooms
Source: Local Guardian
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