With inflation on the increase around the world, we all can do with some extra money. And renting out things is one of the best ways to make some extra cash without investment or too much effort.
We all have things around the house that we can rent for profit. Oftentimes, we just don’t realize their potential for money-making. Here are some ideas to help you get started:
1. Storage Space
Have room in your garage, attic, or basement? Perhaps, you have a shed in the yard lying empty or collecting junk? People living in small apartments would willingly pay you if you let them use that space as storage.
2. Parking Space
Have an empty spot in your garage? Let someone else use it to park their car and pay you for it in return. Renting out a parking space is one of the easiest ways to make some extra money. It doesn’t require any effort from your side but brings some guaranteed money.
3. Your Car
We know this is a hard one. Not many people are willing to let strangers use their beloved car, but if you’re really looking to have some extra cash in your pocket, this can be a great way. Rent out your car when you’re not using it.
If you’re a tool junkie, you’re in luck. If not, no worries; most of us have some tools we can rent to make a little extra money. It could be car tools, chainsaws, or something as simple as garden shears.
5. A Room
Airbnb and similar space rental platforms are becoming increasingly popular. Even if you have just one extra room in your home, you can list it on these platforms to make money.
Many of us have items in our closets that we rarely use or do not really like. Why let them sit in the closet when you can make some money by renting them? Some people may prefer renting over buying new clothes and accessories, especially the more expensive items.
Peer-to-peer lending is an age-old concept. It existed when banks didn’t. If you have some money (it doesn’t have to be a big amount), you can lend it to others on interest.
Start Renting Now
These are just some ideas for things that you can rent to make extra money. Most of us likely have a lot more options; we just need to look through our things from this perspective. So, look around your home and start renting.
Tip: Offer your items at a lesser price than commercial rental prices to attract clients.