Feeling the pinch? Is the economy getting you down? You’re not alone.

Her Royal Highness, Queen Elizabeth the II is facing the repercussions of these tough times so much so that in an unprecedented move she has agreed to rent out some of her regal rooms at St. James’s Palace as party pads during the London Olympics in 2012.

 Buckingham Palace says holders of royal warrants — companies with long-standing ties to the royal family — will get the chance to rent some of the palace’s rooms or ‘state apartments’ as they are called in royal circles. The rooms are available during the games which begin July 27 and last until Aug. 12.

The palace hasn’t indicate which rooms will be rented by commoners, but the royal digs include some stunning beautifully furnished rooms including the Throne Room, the Tapestry Room and the Queen Anne Room. St. James Palace also houses the offices of several members of the royal family including Prince William and Prince Harry, and it is often used for official functions.

St. James was built between 1531 and 1536 and unsurprisingly it is steeped in history with royal portraits dating back to Henry VIII, tapestries and a fine display of arms. It was the residence of kings and queens of England for over 300 years. Queen Victoria moved from St. James Palace to Buckingham Palace in 1837.

The palace won’t reveal any details about the cost of renting one of the queen’s party rooms, but it’s certain to be a royal price tag.