You could have a spare room or an extra garage; if you do, you can earn money from unused space at home. You likely spend a lot on your home and outside space already.
So why not make some income from any space you are not using? There are options for everyone, including a whole room, some spare storage space, or even just an unused driveway.
Here we have combined seven ways that will help you earn money from unused space at home:
Rent out a room via Airbnb
Airbnb is a website where you can rent out your home, spare room, or entire house online. You can rent for a night, a week, or longer. If you have an unused extra bedroom in your apartment and no one is using it.
Consider listing it on Airbnb as an option for travelers looking for short-term accommodations in your area. You will be able to control the availability and control who you allow to rent the space.
It’s important to note that before listing something on Airbnb (or any other rental site). Be sure to read through their terms and conditions so that you know what’s expected of both the renter and homeowner during the process.
Rent out your spare parking space
If you live in a densely populated city and have a driveway or a garage that’s not being used. You could boost your income by renting it out. Depending on where you live, parking can cost anywhere from $30-£50 a day.
Big cities like New York City or San Francisco can cost anywhere up to $430 a month. For example, parking in Chicago costs around $190 – $425 a month. It can be hard to find affordable monthly parking in Chicago, so if you live in or near the city.
It can be an excellent way to earn money from unused space at home. There are many different companies that offer this service, so do your research and start earning!
Store other people’s stuff in your basement
Renting out your basement might not be something you have thought of before. You might not, but it’s a clever use of unused space to earn some extra money. If you’ve got a basement or spare room that’s currently empty. Consider renting it out for storage purposes.
Charge by the square foot: People have different needs when it comes to storing their belongings. Some are looking for a place to keep all of their things while they’re moving. While others need somewhere secure and climate-controlled where they can keep items over the long term (and maybe even store them until they decide what they want to do with them).
Whatever the case may be, there’s no reason why you should charge one flat rate for all types of storage needs. Instead, think about dividing up your space into individual rooms with different prices. Based on how much room each one takes up in order to accommodate different renters’ needs.
Rent out your garage space
An unused garage is a great place to start if you’re interested in renting out your spare space. There are lots of services that allow users to list their spaces for rent on a flexible basis. By doing so, you can earn money from unused space as a source of income by simply storing other people’s belongings in your unused area.
You can create an advert and set up your listing information to get started with this option. You can set the price, length of rental possibilities, and any guidelines you want to add.
For example, a garage is a perfect storage option as they usually are detached. And have a separate entrance allowing people to come and go at any time of day or night.
Turn your unused land into an events space
If you are lucky enough to have a large backyard or some spare land attached to your property. Then think about what you could do to make it a beautiful event space.
For example, weddings are a big business. And by simply adding some string lights and imagining a large tent in the area. You could use this as a way to earn more money—the more picturesque the space, the better for this.
Turn your spare room into a barter bedroom with Guesty
Guesty is a peer-to-peer local services marketplace. The idea behind it is to connect people who have something to offer with people who need it. Just like an Airbnb, but instead of offering your spare room for rent. You can offer whatever services you want (from pet grooming to auto repair) and get paid for it in cash or credit.
What do I get in return? Guesty uses an escrow service so that both parties feel safe and secure. If the buyer doesn’t like what he receives for his money. Then he gets his cash back minus a small commission fee charged by Guesty as compensation for their service.
Rent out some office space
If you have a spare room or space in your backyard, you should consider turning it into an office space. You will need to check your local zoning laws to see if you can rent space out for business purposes. And study the market to see the average prices. It is best to furnish the area with all the office essentials and ensure you have a good Wi-Fi signal.
You can make money renting out your unused space
You can rent out your unused space to make money. There are many ways you can do this:
- Rental properties: Whether it’s a room in your house, a garage or shed that you have, or a spare room in an apartment building, renting out space is one of the easiest ways to earn money from unused space. You can use Airbnb or Craigslist to find tenants and screen them beforehand (just be sure it’s legal where you live).
- Storage solutions: If you have too much stuff lying around but don’t want to get rid of it yet, offer people who need storage solutions access to empty garages and parking spaces across the country.
Whether you’re looking to make a little extra money or just have some extra space to use, there are plenty of ways to do it. We hope these ideas will help you find new ways to turn your unused space into a source of income.