Thinking of making some Olympic cash from your home? Think again.

The Government has been encouraging us to rent out our spare rooms for some years.  However, if you live in London, don’t get too excited at the prospect of letting out your entire house during the 2012 Olympics.  The BBC has investigated the 33 London Councils, and have discovered that only 27 will allow for their owners to rent out their homes.

The Councils of Kensington & Chelsea, Camden, Islington, Tower Hamlets, Southwark and Westminster do not let their residents make short term letting arrangements of 90 days or less. 

If you are found to be letting out your property, you could be viewed to be breaking the law.  Even worse, your tenants could be faced with an enforcement order whilst you are away enjoying the peace and quiet.

The councils claim that they require planning permission for a property to have a short term let of under 90 days.  According to the BBC, this is rarely granted.

The council leaders claim they are trying to protect the noise and disruption caused by short term residents, as well as keeping tabs on population targets.  Maybe they should take a look at our latest Migration Monitor to see what % of residents are moving out of their districts.

Here is a link to the BBC video

Photo image from Sayan Samana / FreeDigitalPhotos.net