45 days left to become an Olympic Landlord

With only 45 days to go until the opening ceremonies of the 2010 Vancouver Olympic Games, things are heating up in the short-term real estate rental market.

Stories of Russian Oligarchs renting homes on the North Shore for $100K per month have homeowners across the Lower Mainland rethinking their decision to stay home for the Games.

But how do you establish the market rate for a 1,000 square foot condo in Yaletown versus a palatial estate in the British Properties?

Check out San Francisco’s Airbnb – an online marketplace allowing anyone from private residents to commercial properties to rent out their extra space.

They’ve created a section dedicated to Olympic Games rentals that should allow you to quickly determine what the market rate should be for your property. If you decide to become an Olympic landlord, Airbnb’s marketplace looks like an easy and safe way to make it happen.

The open platform allows users to post listings of their space. Prospective travelers can search by city or country, utilizing filters such as price and room type to find exactly what suits their needs. Travelers contact hosts directly through the web site, which includes user profiles and friend recommendations. Dates are confirmed through on-site messaging, and the traveler books directly online using their credit card or PayPal account. Hosts receive a reservation request which they can accept or decline. Both parties then receive an itinerary on accepted reservations, and are set to go.