Unlock Additional Income: The Art of Monetizing Your Unused Storage Space

EASY MONEY HINTS
Earn Extra Cash by Renting Your Spare Space
By Lorraine Smithills

Are you looking for an effortless income-boosting strategy? Consider renting out unused space in and around your home. It’s an accessible and practical method to generate passive income even when you don’t have any investment capital.

Let’s talk about Neighbor.com, a platform known as “the Airbnb for storage.” Essentially, you can rent out your extra space – think basement, attic, garage, or even a bedroom – to people who require secure storage. You set the rental rate, and the platform looks after the rest.

Why is renting storage space a smart side gig?

Here are six reasons why it’s great:

1. Almost hands-off: Unlike many passive income strategies, apart from tidying up the space and setting up a Neighbor.com account, this is truly a passive route to extra income.
2. Immediate start: Once your account is set up and you find your first renter, you start earning.
3. Regular monthly income: It offers a stable, monthly cash flow as long as the space is let out.
4. Time-saving: It won’t consume much of your time, unlike a second job or other side gigs.
5. Useful for idle space: It’s an excellent option to turn neglected or cluttered space into income.
6. Helps others: You get to assist people in your community who might have an urgent need for storage.

A bit more about Neighbor.com

Neighbor.com started in 2017 by three friends: Preston Alder, Colton Gardner, and Joseph Woodbury. They’d seen first-hand the shortage of convenient storage options. Today, the company operates across all US states and in Washington D.C. The platform has grown significantly and now deals with a variety of storage needs from cars to boats.

What can you rent out?

In your association with Neighbor.com, you can rent out versatile spaces like your attic, garage, basement, bedroom, or just about anywhere else you desire. This idea extends beyond your home as well – if you have spare commercial space, go big!

Why should you list on Neighbor.com?

The advantages of listing on Neighbor include:

1. Impressive earning potential: Your earnings depend on the space and its demand in your region, but you could potentially pocket anywhere from $100 to $600 monthly if you rent out a garage.
2. Insurance coverage: As a host, you’re automatically insured for up to $1 million against risks associated with renting.
3. Smooth payments: Enjoy direct bank or card payments every month, without having to hound your renter for the rent.
4. Screening potential renters: You have 48 hours to look into any potential renter – it adds to your peace of mind.

Watch your income grow

Neighbor.com has a minimal setup, charging you a $0.30 transaction fee for each reservation and a 4.9% processing fee. The renter also has to pay a determined service fee as they book the space.

You could earn in the vicinity of:

– $50 up to $200 per month for an empty shed.
– $100 up to $600 per month for an empty garage.

Seven steps to enhance your earning potential on Neighbor.com:

1. Promote your listing on your social media.
2. Post flyers on local bulletin boards and stores.
3. Inform your circle about your offering.
4. Add a profile picture to make your listing more personable.
5. Add a brief but engaging description of your offering.
6. Clean the space and add multiple appealing photos of it.
7. Be likable and trustworthy, but avoid oversharing personal information.

Guidelines on using Neighbor.com

Using Neighbor.com is straightforward. After registering and linking your account to your bank, you just have to wait for renters to book your space. Payments happen automatically every month with a small processing fee added, guaranteeing your earnings.

Kicking off with Neighbor.com

Setting up your account on Neighbor.com is a piece of cake. Visit the website and follow three easy steps:

1. Create a Listing: List your unused storage spaces and set a competitive price.
2. Approve the Renter: Vet potential renters responding to your listing before you say yes.
3. Earn Passive Income: Neighbor manages fee collections, deduces their charges, and sends your earning through your preferred payment method.

Final Thoughts

Among all the potential side gigs out there, few can offer the significant return that renting out your storage space can give for so little time commitment. If you have unutilized space, consider using Neighbor.com to turn it into easy, extra income.

Make Extra Money by Renting Out Storage Space
4.5
Renting out unused storage space has just become so much easier with Neighbor. It allows passive income with little to no effort at all.
Features:
– Earn potential thousands per year
– Minimal time or effort required
– Neighbor promotes your space to locals
– Set your own rates
– Payments handled by Neighbor
Get Started Now