Growth Potential: 4 Ways To Make Money Using Your Home
Everybody is experiencing the financial pinch right now. If you have spent a lot of money upgrading your home, only for it to be a financial burden right now, why don’t you start thinking about clever ways to use your home to make money? For those who cannot invest in a rental property, here are some great ways to make a bit of extra cash.
Renting Out a Spare Room, Driveway, or Storage Space
Everybody is more than aware of Airbnb, but there are many other things you can also do. You can use any empty room and put it to good use. There are services that connect people with spare storage spaces so you can list the space online. You can rent out your driveway for other motorists, which is great if you live near a city centre or a popular attraction. And, naturally, you can rent out your home using Airbnb, which is a very popular tactic. If you are lucky enough to get takers based on your location, there are companies like Optinest that can help you manage Airbnb bookings so you can maximise your earnings.
Let Out Your Home as a Film or TV Set
This is one of the most unusual ways but can be a very lucrative option, but it all depends on the type of home you’ve got. If you live in a very visually appealing home, there are many agencies that specialise in helping you rent out your home. While you could earn up to £1,500 a day, the income can be intermittent, but you’ve also got to remember that projects can take a long time to complete. You are looking at least a 12-hour day, which means that you may need to be prepared to have a film crew traipsing around your home for that long.
Hire Out Your Car
If you have a second car or don’t drive much, there are many websites where you can rent out your vehicle, such as Turo. Bear in mind that they will take a commission of your hire fee, and cars need to be under 10 years old.
Rent Out Your Equipment
If you’ve got equipment you don’t use, such as games consoles, you can use services such as Fat Llama to list these items. One of the best ways to make more money would be if you had more high-end equipment. If you’ve got a lot of equipment going spare, you can rent them out frequently, and potentially make a lot of money.
Your home could be one of the best ways to earn a bit of money, but everyone has to bear in mind that so many people are struggling right now. So when you are looking to make money from your home, you’ve got to find the people who are willing to pay for these services. This means you are better off targeting your services to wealthy professionals. Just like any business, making sure that you market yourself appropriately is essential.