Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
5 Ways To Make Money By Renting Your Stuff
Reading Time: 4 minutesMost people have things they could rent out for some extra cash. Here are our top 5 things you could be renting out:
1. Rent your house on Airbnb without the hassle
Though anyone can put their home on Airbnb, increased competition amongst millions of homeowners and the constant need to look after guests and their needs has led many homeowners to bring in pros like Hostmaker to make life easier. For a small percentage, Hostmaker’s housekeepers, concierges, photographers and strategists will manage your bookings and make the your property the best it can be while achieving the maximum rental income – providing hotel-style cleaning services, linen rental and welcome packs for arriving guests while also looking after key exchanges. All in one, hassle free.
And if you provide an amazing service to your hosts, you might even clinch the Superhost status – a badge of honor that translates into 24% average more revenue compared to ordinary profiles.
Potential Income: Average nightly rate for London property on Airbnb is £96. Find how much your property is worth on Hostmaker at https://hostmaker.co/
2. Rent that empty office space
Ever think your home could be put to good use while you’re busy at your 9 to 5 job? Ranging from Vrumi to OfficeRiders, the new “day rental” versions of Airbnb have recently emerged to connect people who need extra working space with those who aren’t using their homes during the day. Creatives get a cosy office, you get the rent.
It’s a perfect solution targeting the growing army of freelance workers, looking for cool, short-term, co-working spaces.
Potential Income: Prices range from £50 – £250 per day
3. Host a dinner party for strangers
Would you invite strangers round for dinner? While this may cause a few raised eyebrows among friends, research show that more and more people now want to have dinner in your kitchen. “Airbnb for food” platforms like VizEat connect a global network of hosts who wish to cook for visitors in their homes and prospective diners who want to eat with locals when abroad, or experience meal sharing in their own country. This real life Come Dine With Me trend is currently showing signs of explosive growth: operating in over 100 countries with 90,000 members and 17,000 hosts.
So for all of you aspiring master chefs, “social dining” is a unique way to discover new cultures, meet people and put your kitchen to work.
Potential Income: Depending on your gastronomical skills, meals are charged at anything between £10 – £150 per person per meal
4. Rent out your car – or drive
If in addition to a nice home you also own a car that usually sits idle in your garage, maybe peer-to peer car sharing (or rather sharing of your car) is for you.
The concept is simple: companies like easyCar Club offer neighbour-to-neighbour car rentals – they allow you to rent out your car to your neighbours when you aren’t using it. They provide booking management, payment processing as well as a comprehensive insurance and breakdown cover. Drivers thereby gain access to close, affordable transportation in the convenience of their “own car”.
There is also plenty of money to be made from renting out your driveway. Just put your parking space on a website like JustPark or Your Parking Space, set your price per day and wait for new drivers to come in!
Potential Income: Up to £3,000 per year
5. Turn your home into a film set
Though preference is given to properties in popular regions such as Notting Hill in London, or quirky homes with an interesting story, there’s big money to be made renting your property companies like Shoot Factory
Crews usually come early and leave before you get home; clients have to leave your home as they found it (many include repair fees to cover small accidents like coffee on your carpet). So if you think your home could be the backdrop to the next TV drama or big brand photoshoot, this could be for you.
Potential Income: Varies depending on location and length of shoot. Find out by registering your home here.
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