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Do you know how your house can make you money? In today's contributed post, learn how to make extra money in your spare time without leaving home with Fat Lama. Let us know your experience in the comments.
We have all heard of Airbnb as a way to make extra money out of your property, but if you don’t happen to have an apartment to spare, there are still many ways you can use your house to make you a little extra cash. Here are our top five home-based side hustles for you to try out this year!
Most of us have stuff lying about the house that we have only used once or twice, from that coffee machine you were given for your birthday (even though they know you’re a tea drinker), to blow up swimming pool you bought in the two day heatwave, or even the ladder that came with the house. You can put them all to use by renting them out to your neighbors.
This is all made possible through the sharing economy platform Fat Lama. In the same way Airbnb allows people to rent out rooms, Fat Lama allows you to list the ‘stuff’ in your house. You can rent almost any item on the platform - users are listing items ranging from bicycles through to VW campervans. So, no longer do your misguided or one off purchases have to rot in a cupboard, be proactive and turn them into extra cash!
Just as Fat Lama realized that there was a rental market for people’s spare things, the team over at Storemates saw a financial opportunity for people who are rich in space but poor in cash.
Storemates is a peer-to-peer storage platform that allows you to rent out your storage space to people for cash. This is a very straight forward way to make money out of space that was otherwise unoccupied with the average lender earning $130 a month in straight profit - that’s your bills covered!
Contrary to what you might expect, you do not have to live in a castle in order to get it featured in a Hollywood film. In fact, you are much more likely to get your home on the screen if you live in an ‘everyday’ house or apartment. Think about the amount of scenes shot of people at home and you will begin to realize the demand for this, you are just need to get entrepreneurial and put your house up for it.
Agencies like Shootfactory are always hunting for fresh locations to shoot in. So if you have a house that fits a certain theme, genre, niche or decade then all you need to do is take some decent pictures of it and register it on the site. Compared to some of our other hustles this can pay very well with modelling shoots paying circa $500 and up to $2,500 for a film shoot - just remember you will have to make yourself scarce during the shoot itself.
The third sharing economy contributor to this article is JustPark, the app that allows you rent your empty parking spot out to other drivers. This is a particularly good option if you a) live centrally in a city, or, b) are not a driver but have an allocated spot. Not only will you be fulfilling a genuine need by offering up your space, but you will also be optimizing your assets by turning wasted space into profit - it’s literally a win-win.
You can list your space for free and control the availability of it as well, so even if you usually use your spot you can still make money whilst you are away!
If you happen to have a spare room, but you don’t want to deal with the constant sheet changing short rentals on Airbnb would incur, you should consider offering your room for a homestay instead.
Homestays is more or less the same idea as Airbnb, but its set up for hosting foreign students specifically. The advantage is you will get much longer rentals than normal lettings, however, you must be prepared to involve your homestay a little more in the culture of the home than an ordinary guest. The reason they are there after all is to learn about the language and the culture of the country they are visiting, so get them involved at meal times and maybe take them on the occasional day trip.
If you are interested, it's worth checking sites like Homestaynetwork or EF, to gauge how much you can expect to earn a week. Of course, the fees vary according to location, numbers and length of stay but you can still on average expect to make around $400 a week.