Dreams of Olympic-Sized Rental Payday Dashed

With scores of Vancouver residents counting on gold-lined pockets come February, it's becoming apparent that the expected private-rental land rush around the 2010 Winter Olympics just isn't going to happen. And like the storied Russian hockey team bested by an unlikely American squad in the 1980 Winter Games, Vancouver simply never saw this one coming.

Seemingly since the venue announcement in 2003, hundreds of Vancouver home- and apartment-owners have been gearing up to hit a major payday by renting out their residences to international tourists during the Games. Many have even sunk capital into upgrades and improvements in hopes of luring higher-end renters.