AN entrepreneur who is planning to make thousands renting his house during Royal Ascot today urged York residents to "cash in" when the festival hits the city.

Computer expert Neil Boddy hopes to pocket up to £3,000 letting his Middlethorpe Grove home to racegoers for only a few days.

He told the Evening Press: "I think York people are ready to cash in on this.

"I know it's cold, hard reality, but people can."

The Evening Press has revealed how householders could pocket "phenomenal" amounts during the prestigious meeting. One resident has already allegedly been offered £7,000 for use of his house for the festival week.

More than 300,000 punters usually attend Ascot; but York has only 12,000 hotel beds - and this could fuel money-spinning private sector demand.

Many hotels say they are already booked up, with rooms being let in some cases for around £500 a night.

Mr Boddy, 36, a web designer, is prepared to vacate his three-bedroom semi-detached home -valued at about £200,000 - for five days in June 2005.

He and his partner, Dawn, plan to stay with relatives in Scarborough or jet to sunnier climes.

Mr Boddy says several of his friends in the Knavesmire area and in nearby Bishopthorpe are thinking along similar lines.

He is setting up a website so race fans can register and vet interest, and visitors can choose accommodation.

Single rooms and valuable parking space - expected to be extremely rare - will also be up for grabs

Mr Boddy said: "Why shouldn't we make some money out of this? We discussed it months ago when York got confirmed as the venue.

"People have enormous problems parking and getting hotels at Ebor meetings. If the city can't cope then, it's going to need extra space for Ascot."

Although Mr Boddy's home is minutes away from the racecourse, he believes money-making should not be confined to those near the course.

"York is a very pedestrian-friendly city. There are lots of areas where people would like to stay. This will help distribute the pressure on the city during the event."

He reckons the sky's the limit for prices.

"I'm not sure if £7,000 is realistic, but as we get closer to the event, it will become an auction."

Acomb resident Philip Holland said he would be delighted to let his two-bedroom Hinton Avenue home.

"It's in a nice quiet area," said the 30-year-old York Hospital worker.

"Hopefully nobody would wreck it, but I'd definitely ask for a deposit first."

If two couples took rooms he said he would expect to make about £2,000. Mr Boddy's site is now accepting e-mail registrations.

Meanwhile, a taxi driver today warned traffic chaos could lead to a shortage of cabs during the event.

Tony Chance, of Ebor Taxis, said drivers who normally work voluntary overtime for extra race day cash could be put off if faced by gridlock.

Updated: 10:42 Tuesday, December 02, 2003