Finding a new source of revenue to boost your income often makes people consider taking a second job or selling items to get some extra cash. But what if we told you there was an option to provide you with a positive cash flow that doesn’t involve parting with old sports equipment or baby gear? The answer is simple, list your items or space on a rental facilitating website or app, and before you know it, you will have an extra income and be able to save money.
Examples of Things You Can Rent
The obvious thought that comes to mind when you consider renting is to rent out your home or spare room. Thankfully, there are many more options available for those who are looking to start renting.
- Renting Out Your Car – While renting vehicles is nothing new, several services have been making peer-to-peer rentals more accessible to the public in recent years. If you have a vehicle that you do not use regularly but aren’t looking to sell, then loaning it to others may be the best option. Just be careful to ensure that the small business or app you use has liability insurance.
- Parking Space – Finding parking can be a drag, especially in large cities or near high-traffic areas like sports complexes and convention centers. If you own/lease an apartment and a parking space is included in your payments, then think about renting it to others in order to turn it into a quick cash flow.
- Storage Space – Similar to a parking space, many urban homes and apartments come with additional storage. If you have a unit or locker that you don’t utilize to the fullest, then providing it to another individual could pay dividends.
- Tools and Equipment – Whether they are collecting dust in a shed or your garage, tools that are unused can be a fantastic source of additional income.
These and other rental options can provide you with amounts of money that you may find ridiculous.
