When people think about how they can make money they usually imagine themselves getting a newer, higher paying job. While this is conventionally true, it is nowhere close to being the only way to money from your house. There are ways to make money with your house, and from home, so there are two unique distinctions here.
The question then becomes how to do these things, and this information will help answer that. If you are looking to make money from home, or through your home, then check out these helpful tips.
Subletting is the act of renting out a room (or rooms) to new tenants that will cover the costs of your rent. This can be done by offering them a room or by allowing them to rent your apartment or house entirely. This is a pretty popular option to help cover these housing costs or rent, especially if you live in a big city with higher rent costs like London, U.K. Some quick sub-letting tips include; deep cleaning your home before anyone moves in, doing a thorough background check so they are not going to cause any trouble, and picking opportune times to allow for a subletter. If you were subletting in London, you will need to know renter laws and competitive renting practices too. You can make a lot of money by subletting your place if you know when the best times are to do it, like during an extended holiday or if you are moving away.
Similar to subletting, but less of a commitment. Airbnb allows you to rent out your place for a shorter period of time than subletting, so if you cannot make a long commitment to hosting a tenant, then this might be a good option. This is especially useful for those who live in cities or towns that are popular vacation destinations because people want to find somewhere that is cheaper than a hotel, but still accommodates them well. Consider how Airbnb is more volatile than subletting though. Subletting does present better opportunities because there is much more legal protection for your property or possessions when you sublet over temporary rental.
Rent Parking Space
Many people consider the ways in which they can rent out their house, but not the ways they can rent out the property around the house. Renting a parking space in your yard or your driveway is a good way to add some extra cash in your pocket. One of the ways that this is most effectively used is by renting parking on game days for college games, professional sports events, or big public events like fairs and parades. Word of mouth is great too, so set up signs, put up online ads, and let people know if they need a quick parking space, you are available.
Working from home is a good way to keep a relaxing lifestyle while still maintaining your financial commitments. There are a lot of jobs where you can get paid to work from home. Many of these are done online, like freelance writing jobs or selling items through a Shopify store. You have plenty of flexibility to keep your home nice and tidy while you work from home, and it is less stressful than the regular 9-5 office work. Working from home is especially great for stay at home parents who want to still provide for their loved ones while spending time with them.
Offer Storage Space
Storage space is a premium for a lot of people, so if you can offer it, people will pay. Competitive pricing is a good way to make sure people take your offer seriously. Storage lockers and units can be expensive, so give some incentive that stores their goods with you is a safer, cheaper and easier process. You can entice them by allowing them to store their goods and not have to go through a lengthy process of accessing it. Just a quick text, phone call, or email can give them the assurance that you are responsible through communication when someone needs to get their stuff. The best option for this is by having a shed so they can access their storage when you are not home.
Making your home make money for you does not have to sound like a dream that is very far fetched. There is a significant amount of ways that you can make money at home, and with your home. You do not need to start daydreaming about getting that promotion or fancy new job, you just need some ingenuity.
Renting out your home through Airbnb, subletting a room or the entire house/apartment, working from home so you can spend time with your family, and renting out parking spaces and storage are all excellent and quick ways that can make your house make money for you. Turning your home into a revenue stream will help you get the financial goals you’ve always dreamed of.