If you own your own home, chances are you spend a lot of money on it. From property taxes to your mortgage, it all adds up! But what if you could put your home to work for you? It’s true – there are ways to make money with your house. Senior RSG contributor Paula Gibbins covers six ways to make money off your house below.
Who doesn’t want to make extra money? If you’re a homeowner and have some extra space (or maybe your whole house), you could potentially earn hundreds if not thousands of dollars per month from your home.
Ready to make money with your house? Check out the resources below:
- Neighbor – rent out space in your home or your garage
- Rover – doggy day care at your house
- Locations Hub – rent out your home for films
- HipCamp – rent out part of your property for campers
- Airbnb – rent out a room in your home or your whole home
6 Easy Ways to Make Money with Your House
1. Provide Affordable Storage Options for Renters
Your house (or garage, basement, a spare closet – even your parking spot!) can be an awesome way to make money with your house.
One way you can rent out your garage space, attic, shed and more is to use a service like Neighbor. By signing up, you’ll get $50 in cash once your space is rented!
Listing your available space is free with Neighbor. They’ll even automatically deposit your money into your chosen account at the end of each rental month. To cover the cost of automated payments, there is a small processing fee of 4.9% of the gross reservation + $0.30 for each payout you receive.
You’re given 48 hours to approve a renter. If you do not want to accept a renter, you can choose to pass on them and wait for the next option.
With Neighbor, you set your price. Renters are charged a small service fee on top that will go directly to Neighbor so they can provide quality customer support, a secure platform and more.
A similar option is called Store at My House to post a free listing of your available space. You set whatever rules you’d like and they will find your renters for you. Next thing you know, you’re earning money from renting out your extra space that wasn’t being used.
While it’s free to list with them, there is a 15% fee they’ll take for those who use their automated billing system, which would send bills automatically to the renters and the payment automatically to the owner. It’ll even send you important tax information at the end of the year so you don’t have to keep track of it all yourself.
Have a parking space that you’re not using? Turn that parking spot into a money-make with Spot Hero. To start selling your spot out, you simply fill out a form on the Spot Hero website and submit. You can include any questions you have that you want answered.
2. Make Money Off Your Home By Boarding Pets
If you don’t have the extra storage area or don’t feel comfortable having people leave their stuff on your property—or just want to make more, you can offer to board pets! Obviously, if you love animals, this would be better for you. If you don’t like dogs or have allergies, this probably isn’t the best option for you (keep reading below for more!).
One website that will help you find pet care opportunities is Care.com. You set your rate and the website sets up your profile, so people in your area can view your rate and other information to see if they want to choose you as the person to care for their pets.
Another service is Rover. To become a pet sitter with Rover, you’ll need to pass a background check.
While earnings from Rover have understandably decreased because of COVID (less travel and more work at home means fewer requests for pet-sitting), Managing Editor Melissa regularly made $1000 a month during the summer months – and that was not in-home doggy day care! Rover says in-home doggy daycare earns sitters more.
In addition, you set your own schedule and prices with Rover. You can even specify what size and age of the animal you’d prefer. The money is available to you two days after you complete the service.
The services at Rover include dog boarding, dog walking, doggy daycare and house sitting/drop-ins. It would be up to you to choose which you’d be available for. You can also make yourself available to take care of cats—or even do both!
Tips on How to Start a Home Doggy Daycare
- First, check local ordinances — these might limit or prevent home-based businesses such as doggy daycare
- Get a business license — your state, county or local laws may require this. It may also include a home health inspection to make sure it’s safe for caring for animals.
- Have dog food on hand if you’re planning on having that be part of your services. You should also have enough toys, harnesses, leashes, food, water bowls and more for each dog you’re planning on boarding.
- Make sure all dogs you accept are dog-friendly so you won’t have issues boarding more than one.
- Find more details on how to do this from Canidae.
3. Have a Garage Sale
Offer your front yard/driveway as a place for people to host garage sales, moving sales, etc. Some apartment complexes don’t allow their residents to sell items out of their garages, so people could be looking for a space to do so. That’s where you come in.
You can charge to help with advertising to get more people to show up to the sale. Be sure to also keep your home safe by locking the doors and windows while the sale is going on. People might assume they can come in and use the restroom, otherwise.
You can also charge for using your tables for displaying items. Just make sure you’re upfront about any extra costs involved so the person doing the garage sale is aware and able to make a good decision about whether to have it in your space. Learn more tips and tricks here.
In some cases, you can manage an estate sale business out of your home. You don’t need special training or certifications to become an estate salesperson, making it an easy way to make side income, or even turn it into your Plan B.
It’s suggested that if you haven’t had experience with estate sales, you should work for a liquidation company to learn the ropes and see what you should be selling things for. You can also consult experts in order to learn what to sell an antique or collectible for. Learn more about how to become an estate salesperson here.
4. Rent Your Home to a Film Company – or to a Music Video Producer
If you want to go this route, it would definitely help if you have a “hip” space that people would want to use for filming. But even a two-bedroom house can strike a chord with a location scout searching for the perfect nook for a film or music video.
Independent films often need to scout locations that are more affordable than big Hollywood film lots. List your location and open yourself up to some extra side income.
Simply sign up on a locations listing website, include photos of your space and the cost you’ll rent it out for and you’re ready to start accepting offers.
You can even rent out part of your space for people who are looking to host meetings, dinners and photo shoots. Choose from the following to list your space, or list it on all of them to better your chances of being found:
- Locations Hub – open your home or space to filming productions
- Peerspace – list for meetings, film shoots, photoshoots and other events
- Giggster – let people rent your space for photoshoots, commercials and film shoots
- Film Locations Wanted – open your space up to movie and TV filming
5. Rent Your Property Out to Campers
If you’ve got a decent acreage or some land you’re looking to earn some money with, look into renting your space out to campers. With Hipcamp, you’re provided with a $1,000,000 insurance policy to cover you renting out your space to campers.
It’s free for you to list with Hipcamp and you’re able to decide when you want to host your land. You’ll get deposits weekly for campers who are utilizing your space.
You don’t need to provide all the amenities or bells and whistles to get started with Hipcamp, but here is what Hipcamp does have to say on the matter:
“If you get started by offering dry camping (Self-contained RVs only) or your property is larger than 20 acres you do not need to offer a toilet. If you have smaller property and intend to host tents, you will. This is to ensure that Hipcampers are disposing of human waste in a way that is good for the environment, human health, and compliant with local laws.”
You set your rates, but they advise you to check out similar offerings in your area to stay competitive and make sure you’re not pricing it too high for whatever you are offering as part of the experience.
Once people start camping on your property, Hipcamp does take a 10% commission fee, meaning you earn 90%. Be sure to keep that in mind when coming up with your listing figures. If you’re able to host multiple people at once, you can earn even more.
6. Rent Out Your Home
You can make money with your house by renting it out as well. If you have a spare property or a secluded portion of your home that you don’t use often, consider turning it into an Airbnb location to earn extra money when people rent it out like a hotel.
When people search for their destination, they are shown the available properties that are in the area on the dates of their trip. You set the cost for people to rent it and make sure the space is clean and ready for them when they arrive.
Before Turning Your House Into an Income Generator
Before you decide to make money with your house, there are a few important things to consider:
- The other people in your house – make sure you’re not putting up space on Neighbor or bringing dogs into the house without your spouse or other housemembers okay!
- Insurance – in some cases, homeowners insurance has breed restrictions – something that will be important to know if petsitting. There may be other ways that could invalidate your insurance too – be sure to check.
- Time – If you don’t have time to petsit dogs or host Airbnb visitors, choose a less time-consuming way to make money off your house, like Hipcamp or Neighbor.
Readers, have you thought of ways to make money with your house? Which one of these options would you try?
-Paula @ RSG
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Ready to make money with your house? Check out the resources below: