In a world where financial stability can often feel out of reach, many homeowners are looking to monetize their unused spaces. If you find yourself house rich but cash poor, there are several low-maintenance ways to generate income from your home without the need for a roommate. Here are four innovative ideas:
1. Rent Storage Space
Platforms like Neighbor and Stache allow homeowners with empty spaces, such as basements or garages, to rent them out for storage. Simply measure your space, take a few photos, and set a fair price based on neighborhood rates.
You can impose restrictions on what can be stored, ensuring safety and peace of mind. Items like hazardous materials and valuables are typically prohibited, and you can also limit customer access.
2. Make Your Yard a Dog Park
For those with spacious, fenced yards, consider renting it out to pet owners via Sniffspot. Rates often range from $10 to $25 per hour per dog. You can choose whether to provide additional amenities like toys or benches.
Sniffspot also offers liability protection to homeowners, making it an attractive option for those who love animals.
3. Rent Out Your Pool
If you own a swimming pool, consider renting it out through Swimply. Create a profile, set your rates, and highlight any additional amenities such as restrooms or barbecues. Including additional features can make your listing more appealing and possibly increase bookings.
Swimply also offers liability and damage protection for hosts, ensuring a worry-free experience.
4. Host Film Crews and Photographers
List your home on platforms like Giggster or Peerspace to rent it out for photo shoots, film productions, or events. You can set the rates by the hour, often yielding more income than traditional short-term rentals.
As the homeowner, you maintain control over what types of events to host and can set your own pricing, including options for cleaning fees or site representatives. Establishing a minimum rental period can also ensure you generate enough income from each booking.
By leveraging your property in these inventive ways, you can create a stream of passive income while keeping your workload to a minimum. Whether it’s through rental storage space, pet-friendly yards, pools, or as a unique filming location, there are countless opportunities to explore.
Source: CNBC
