10 Things You Can Rent Out for Extra Money
The reasons why a third of Americans have at least one side hustle are pretty obvious: everything—and I mean everything— is more expensive than it used to be. When faced with the choice between downgrading everything from their shopping list to their standard of living, most people would rather earn a little extra money where possible to cover the (ever-widening) gap.
However, a side hustle takes up your time and energy. Truly passive income is the best option if you can take advantage of it because the money appears in your bank account while you sleep or play video games. Okay, “passive” income is never that passive, but it is a lot less work than actual work. And one of the most passive ways to make money is to rent something you already have but don’t use all the time. And you can monetize more of your stuff than you think.
Monetize your car
Many people have no choice but to own a car, and owning a car is damn expensive, with monthly payments currently averaging $760 . The good news is that you can get some of that money back by monetizing your car:
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Rent it out. You can list your car on a service like Turo and let other people pay you to drive it. You can choose when it’s available, and the price includes insurance and roadside assistance. The average owner can earn between $500 and $1,000 per month, depending on how desirable your car is.
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Advertise. There are a surprising number of companies that will pay you to let them put advertising on your car . The advantage of this method is that you will always be able to use your car, but keep in mind that these companies often prefer newer or more expensive cars and may require you to travel a certain amount, plus you will have a big ugly billboard. throughout your car. Typically, you can earn between $100 and $500 per month with these programs.
Rent out your home
Of course, you can rent out your home. But if you don’t need roommates and have nowhere else to live, you can still rent out your home short term. Companies like Splacer and Peerspace rent properties for short-term events such as photo shoots, filming locations, parties and events or meetings. You can make anywhere from $50 to $250 an hour renting out your home and still be able to sleep in your own bed at night.
Rent your parking space
There are parking lots everywhere —our entire world is built around places to stash your car when you’re not driving—but there can never be enough of them, especially in crowded cities . If you have a property with a parking space, you can rent it out . Companies like Spacer or Curbflip make it fairly easy for you to post an ad and start making money ($200 to $400 per month in most cases). While you should consider the liability that comes with allowing someone to leave their property on yours, if you have an unused parking space, it’s a no-brainer for some extra cash.
Rent extra storage space
Do you have an empty closet, garage, attic or basement? People will pay you in full to store their stuff in them. Sites like Store My House or Neighbor allow you to list storage areas. This way you can earn a few hundred dollars a month and all you have to do is fill the empty space in your home.
Rent out my yard
Do you have a backyard? Do you spend all your time there? Probably not. Whenever you are not using your yard, you can monetize it in several ways :
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Dog park. You can rent out your yard to dog owners looking for private dog parking using Sniffspot. These dog parents want to keep their puppies safely off-leash or have pets that don’t get along well with other dogs, making public dog parks problematic, and you can offer them a solution. The average cost is about $15 per hour.
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RV parking. People who own RVs often have a hard time finding places to park them, so you can register your yard with a company like Hipcamp to make some money by allowing people to park in your yard (provided it’s big enough to do so and has road access). The amount can range from $30 to $300 per night, depending on what you provide and how the land is used.
Rent your pool
Do you have a pool that you spend more time cleaning than using? People love pools and will be happy to pay you to use yours . An app like Swimply allows you to rent out your pool at rates ranging from $30 to $45 per hour . Just consider whether you’re comfortable asking swimmers to use the restroom—Swimply doesn’t force you to, but if you don’t, people will only be able to rent your pool for an hour.
Rent out your bike
If you’re like me and have a decent bike that’s been hanging on the wall for what seems like forever, you can rent it out to people, often tourists, who want a cheap cycling option while they’re in your area. Sites like Spinlister make it easy: you list your bike, they handle the rest (they do take almost 18% commission, however). However, you set your own rates (the site suggests $7 per hour, $20 per day or $100 per week), and that’s extra money in your pocket if you let someone borrow your bike.
Rent your musical instruments
Every minute on this earth someone thinks that today is the day I learn to play the guitar! Or piano, or clarinet – you get the idea. And one of the biggest obstacles to this is acquiring a practice tool. Tools tend to be quite expensive, and people are hesitant to buy something that they can tinker with for a few weeks and then give up on it.
If you’ve already invested in a tool, you can rent it out through a site like FriendWithA , charging anywhere from $10 to several hundred dollars per day, depending on the tool.
Rental of tools and equipment
Do you have a shop full of power tools, hand tools and other equipment? List them on the Rent My Equipment website . People who need a hammer drill but don’t want to buy one, or who don’t live near a home improvement store or other store that rents out tools, will happily pay you to borrow theirs for their project. Prices, of course, vary depending on the equipment you rent, but here you can rent everything from ladders to track loaders .
Rent… yourself?
Of course, you are not things, you are people. But you can still monetize yourself by becoming someone’s friend. RentAFriend allows people to pay you to hang out with them, go to dinner with them, sit and chat with them—all the things a friend does. Pay typically starts at $10 per hour, but can be higher if you offer something specific, such as a hobby or skill that people want you to teach them (or just do). It’s not a ton of money, but if you’re also doing something fun and (maybe) meeting a potential real friend, it’s not too bad.