Renting out products or services can be a great way to make extra money with little work. If you’re not using the item anyway, then it can also be a great way to find use for items that you’re not wanting (or ready) to part with.
Basically, make your stuff work for you and learn how to make extra money!
Making extra money can change your life and it may help you:
Pay off your debt;
Save for things such as a vacation;
Stop living paycheck to paycheck;
Reach retirement sooner;
Not feel as stuck at your job;
Become more diversified.
Determining what you can charge for your rental items can vary widely. I recommend doing some research and seeing what the supply and demand are, what others are renting similar products or services for, and so on.
Below are different things you may be able to rent to make extra money.
Rent your garage or parking spot to make extra money.
If you have extra space in your garage, you may be surprised to hear that there are people willing to pay you for this. Some just don’t have the room at their own place, but they still want a safe storage area for their belongings, such as a classic car.
I once heard about someone who made an extra $200 a month by doing this. I also know someone who rents their neighbor’s garage space.
You can also rent out a parking spot with Spot. Depending on where you live, you may be able to pull in a nice bit of cash each month.
Rent an extra room in your home to make extra money.
This can be a great way to find use for the space you already have. If you have extra space in your home or even if your whole home is available, then you may want to rent it out. You can rent out a room or your whole home on a daily, weekly, monthly, or even on a long-term basis.
The most popular home rental website I know of is Airbnb.
Rent your bathroom to make extra money.
This one is similar to renting a room or home, but perhaps a little more interesting.
With AirPNP, you can rent out your bathroom.
Yes, this actually exists.
Rent your car to make extra money.
Did you know that you can rent out your car on an hourly, daily, weekly, or on an even long-term basis in certain areas? If you know you aren’t going to use your car and that your insurance will still cover your vehicle, then this could be an interesting idea with very little work needed.
The top website I know of for renting out your car is Turo.
Rent your money to make extra money.
Websites such as Lending Club allow you to loan your money to others and earn interest.
It’s similar to if a bank loaned money to an individual. You would be the bank and the person “renting” the money would be the individual borrower. Of course, you do need to be careful because just like with any loan, there is a risk.
Rent wedding and party supplies to make extra money.
Many brides nowadays are renting furniture and other event supplies so that they can save money and have less clutter. This includes couches, ceremony arbors, tables, chairs, centerpiece decorations, mason jars, photo booths, and so on.
To rent wedding decorations, you can place advertisements on websites such as Craigslist, have a storefront for wedding rentals and event supplies, and so on. You could also let those in the wedding industry in your local area know about your services as well because word of mouth is big in the wedding industry.
Rent yourself to make extra money.
Yes, I really just said that. You can rent yourself out as a friend on websites such as RentAFriend.
Here’s a snippet from their website:
RentAFriend.com has Friends from around the world available for hire. Rent a Friend to attend a social event, wedding, or party with you. Hire someone to introduce you to new people, or someone to go to a movie or a restaurant with. Hire a Friend to show you around a new town, teach you a new skill/hobby, or just someone for companionship.
What would you rent to make extra money? What would you not do?