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Winter Olympics means cash for Vancouver

Catherine Deshayes

Vancouver super hot real estate might be coming to a stop, but there is still a perfect chance for some Vancouverites to make big money...

Olympic Games are a proven money making machine for cities around the world, and Vancouver is not an exception. City residents who are willing and able to rent their properties for the Olympics can go for a nice vacation and make a fortune at the same time.

According to Vancouver Olympic Committee (VANOC), only 30,000 hotel rooms will be available for the games, and 20,000 of them are already reserved by VANOC. Not only that, but VANOC is considering bringing a cruise ship to Squamish area (between Whistler and Vancouver) to provide additional 1,600 beds to guests and participants. Just to give you an idea of how many people will be attending the games - 1.6 million tickets will go on sale in early October 2008.

Where do you think the remaining hundreds of thousands visitors to Vancouver will stay? There is an obvious answer: they will rent a place from Vancouverites who are willing and able to provide accommodations to city's guests.

It's a simple economic law that demand increases the price, but for how much do you think can you rent the average property in Vancouver during 2010 Winter Olympics? The answer comes from several websites that specialize in property rentals for the games.

The minimum price that we could find was £265 per night, and that would get you a very modest one-bedroom apartment in the suburbs of Vancouver. More desirable properties in good locations can easily go for £1,000 per night or more.

If you own any rental properties in Vancouver, you could make quite a good profit in a short period of time if you advertise effectively, and select carefully among many potential short term renters.

So what is the best way to advertise your property? There are several websites that are dedicated to 2010 Winter Olympic Games property rentals. You can easily Google them, or check out www.goldencityrentals.com for more information.

All properties advertised on the above website are available specifically from February to March of 2010.

Source: Golden City Rentals