Got Extra Space in Your Home? Rent It Out!

 

 

Do you find yourself dreaming of new ways to make extra money to pay-off your credit cards or your mortgage?

Have you thought about how much it costs you to own your home?

Now is the time to think about ways your home can make a profit for you. It is time to put you house to work for you and see if you can can get a little extra spending cash from doing it.  From renting out your spare room to travelers or to designating an area of your basement or attic as storage space for people residing in your city or even renting out your unused parking space, there are a number of different ways to earn extra cash with very little effort. Plus you are helping out someone else by offering space at a more competitive price for them.

 

make extra money

Let’s explore some of the websites whose sole purpose is to help put more income into your budget each month:

  • StoreAtMyHouse.com offers homeowners a way to make extra money on the side.  The website offers you a way to make money off your basement, attic or garage and even your parking space.  Register for an account, post your ad and pictures of your space, and start making cold hard cash off your spare room today.  Each photo is verified by StoreAtMyHouse.com before being posted so that renters can rest assured that they’re getting a good deal when answering an add on the site. If you need affordable and accessible space, check out what is available in your area.
  • AirBnB.com gives you a place to stay in over 190 countries and over 35,000 cities. Stay in a tree house in the rainforest in Costa Rica, an apartment in Times Square, a rooftop house in Italy or even on an Island in Fiji! Add your own backyard guest shed or upscale tree house or the spare room, mother-in-law suite or space at the back of the house. If you are lucky enough to live near by a manmade or natural attraction or you live on a route to one, you will find people who want to stay in place other than the traditional hotel and motel chains. It will also let you add new friends through Facebook based on the guests that stay with you from around the country and around the world. AirBnB is not a small little website either, there are a number of reviews on it like this one by Fast Company.
  • Take in a foreign exchange student. You will need to provide a room, meals, and some transportation for your guests. You can host a high school or college-aged student for just a few weeks at a time and make money on your spare room. This is a great service to provide because both you and the student benefit from the experience.

Now is the right time to check your homeowners insurance policy and have a look at the local city ordinances on renting your spare space.  This is the perfect way to make use of the extra space inside your home and to make extra money to add to your monthly budget. Of course it goes without saying that you need to do a little research for yourself to figure out if this is right for you.

Incoming search terms:

  • how do i make money with the extra space in my basement
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  • sites to post my spare room for volunteers or travellers to rent


Filed Under: making moneyPersonal Finance

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About the Author: Charissa Arsaoui is a freelance writer with a love for thrift. She contributes to many different personal finance blogs.

3 comments
jeancox
jeancox

Of course you need to be sure first of the people who are renting it out just a precaution. But anything else, these are great ideas. Earning a little money for that extra space in your home would be nice.

This comment has been deleted

GetRichSlowly
GetRichSlowly

@kelseystagner Exactly! I found an article that says that even paying rent on time will help raise your credit score. I'll share it in a few

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