Hopperstock - How extra space can earn you money

Here’s how your extra space can mean more money

Real estate means money. That’s a cardinal truth. Proof of that is the number of people who make money and survive only by giving off their real estates on rent. Not just that, there’s an entire secondary market of people who work in the real estate market who’d vouch for the fact that real estate means money – your broker, your painter, etc. So, all that a real estate owner must do is find out how to make money from the real estate – the spare room or the extra space that you have in the house. If you have real estate and have been asking yourself ‘how I can make easy money’, this article will provide you with some simple and hassle-free answers.

#1 Rent to a startup

Startups are hungry and are always looking for a good deal and to save money on the expense that they must make to set up their business. New businesses love working with startups because of the sheer transparency and enthusiasm that’s quite simply viral. Renting to a startup could make you money in two ways.

One, you can become a landlord and get an amount of money from them monthly. Alternately, you can also become their business partner and buy a stake in their company. Most startups would be very happy to stop their cash flow and instead get a partner and an asset in the company in the form of the real estate that you have.

Some startups that are looking for early investors – the sharing economy startups – will be quite pleased to have you and your real estate on board with them. Startups are an exciting way forward and you never know – if you forego the rent and get in a partner, you could be literally sitting on something bigger than any of the amount of rent that your real estate will ever provide.

#2 Offer warehousing services to big companies and small

Businesses want real estate. If they have real estate to set up the office premises, they need real estate to set up the manufacturing units. If that requirement is done with, they require real estate to set up the warehouses – and that’s where your real estate comes into the picture. Retailers have required real estate for warehousing since the beginning of time. If you have a spare room or a garage, or even some spare empty space in your apartment, e-tailers will be glad to pay you a monthly rent to store their stuff in your house and real estate.

There will be several small and big businesses who are looking for such services in your local area. You could either look up the Classified section in the newspaper yourself or even list your property with one of the local realtors – they will offer you quick and easy options that will allow you to make money off your spare real estate.

#3 Start your business on your real estate

In this way, you will take some time to make money, but it’s always a good idea to go into business for yourself. In fact, any business requires real estate and many small business ideas don’t even get off the ground because they don’t have access to real estate. If you do, and if you have a business idea in mind, you could always make money off it. The first step to put that idea into action is by setting up a workplace in the spare real estate that you have.

#4 Rent out your real estate for creative events

Ever heard of a writer’s retreat? No? Well, some companies nowadays host a writer’s retreat, which allows budding writers to hole up in a place and write. The company takes care of their expenses with a scholarship of some sort. These companies are always looking out for places that are scenic and would allow a person the calm and tranquil that they’d need to come up with a masterpiece. If you think that your spare real estate could be the perfect spot, all you need to do is to get in touch with such companies. These would not just give the budding author a stipend but also give the real estate owner a rent for all the time that he or she stays in the real estate.

 

Hopperstock - Money from extra space

 

These are some of the simple, hassle-free and most followed ways in which real estate owner can make money off their extra space.  Feel free to carry out your own research on this topic.