Earn Some Extra Cash from Your Spare Space

Wondering how to make money? If you’re looking for an easy way to earn some extra cash, renting out your spare room or other type of space can be a fantastic way of doing so. Here are a few ideas to get you started.

how to make money

Image: The Cotswold Company

Rent out your shed or garage space

Many of us have a shed or garage that we only use to store junk. This is wasted space.

The first step is to get rid of what you no longer want, or need. Holding a garage sale is a fast way to do this. It is also a good way to earn a little money for your junk. If you want to learn more about how to sell your unwanted gear for a good price, take the time to read this article.

Anything that you have left over can be given to charity, or skipped. Once you have created a bit of space, you can advertise it for rent.

However, you do need to be careful with this option. It is best to take a couple of months of rent in advance.

You should never accept items that look like rubbish. If you do, there is a chance that the person will walk away from it and leave you with the problem of disposing of it. It is also important to find out whether your insurance company would pay for any items that are lost due to theft, fire or a flood.

Rent out your driveway

Renting out your driveway is a very easy way to earn a little extra money. If you live near a station, airport, a hospital or a large factory demand is likely to be high, which means that you can earn a good additional income from this option.

Again, be careful not to let someone park a pile of junk on your drive. If you do so, there is always the risk that they could just walk away and leave you stuck with a car that you may have to pay to have taken away.

Some people also rent out space in their garden to boat, caravan and RV owners. Again, be careful, but if you get the right customer this is a good way to earn a little extra cash.

Rent out your spare room

If you have a spare room in your home, look into renting it out. In many parts of the country, there is a housing shortage, which makes it surprisingly easy to find a tenant.

how to make money

However, it is wise to test the market before spending too much money on doing up the room. It does not cost much to give it a lick of paint, but furnishing it to a high standard could be expensive.

A much better approach is to use leased furniture, at least to begin with. If you do want to try furniture hire London and other large cities is where you will find firms that offer this service. Once you have rented out the room for a few months, and are sure that it is a good way for you to earn money, you can send the leased furniture back. Then all you need to do is to buy some good quality items to replace it, and keep your tenant happy.

As you can see, earning money out of your spare space is not difficult. Provided you are careful and vet your clients properly, you can easily earn thousands from doing so.

*This is a collaborative post

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