You can make some extra cash by renting out various items or services. If you’ve got things lying around that you’re not using, why not put them to work for you? This can be a low-effort way to earn some money while getting more use out of your stuff.
Earning extra money can have a big impact on your life. It might help you:
– Pay off debt
– Save for things like vacations
– Stop living paycheck to paycheck
– Retire sooner
– Feel less stuck in your job
– Diversify your income
The amount you can charge for rentals varies a lot. It’s a good idea to do some research to see what others are charging and what the demand is like.
Here are some things you could rent out to make extra money:
**Rent Your Garage or Parking Spot**
If you have extra space in your garage, you might be surprised to find that people are willing to pay for it. Some folks need a safe place to store their belongings, like a classic car. I know someone who made an extra $200 a month this way. You can also rent out a parking spot, which can be quite lucrative depending on your location.
**Rent an Extra Room in Your Home**
If you have extra space in your home, consider renting it out. You can rent a room or your entire home on a daily, weekly, monthly, or even long-term basis. Airbnb is a popular platform for this.
**Rent Your Bathroom**
This might sound unusual, but with AirPNP, you can rent out your bathroom.
**Rent Your Car**
You can rent out your car on an hourly, daily, weekly, or even long-term basis in some areas. If you’re not using your car and your insurance covers it, this could be an easy way to make some money. Turo is a well-known website for car rentals.
**Rent Your Money**
Websites like Lending Club let you loan money to others and earn interest. It’s similar to how a bank loans money, but you’re the one doing the lending. Just be cautious, as there’s always a risk involved with loans.
**Rent Wedding and Party Supplies**
Brides and event planners often rent furniture and other supplies to save money and reduce clutter. This can include items like couches, ceremony arbors, tables, chairs, and photo booths. You can advertise on websites like Craigslist or even have a storefront for wedding and event rentals.
**Rent Yourself**
Believe it or not, you can rent yourself out as a friend on websites like RentAFriend. People might hire you to attend social events, show them around a new town, teach them a new skill, or just for companionship.
What would you consider renting out to make extra money? What wouldn’t you do?