It’s not too late make a cash grab for a last minute well-earned vacation.
There’s still time to earn money for a last minute vacation or to book a flight for the holidays. If you have a garage that’s doing nothing besides hiding some old boxes of junk, you could be missing out on a valuable money-making side gig. Put your garage to work and get organized at the same time by becoming a storage host. Don’t know where to start? Read on to learn how to break it down into manageable pieces so you can get past the junk and onto your vacation.
There is valuable rental real estate right in your home, on your property, or in your driveway. Earn $1,000 – $5,000 per year renting out valuable real estate that you already own.
1- Identify a Target
If you have the extra space, someone will want to rent it. Freestanding lock up garages, barns, and sheds are perfect. If you have a large enough garage or barn you could even sub-divide it for twice the earning potential.
But if you don’t have a free standing garage or building, that doesn’t mean you’re out of luck. Your driveway can be lucrative rental real estate too. People have extra cars, motorcycles, ATV’s, 4-wheelers, trailers, and boats who would love to pay you to park in your driveway. This is especially true if you live downtown or in a busy commercial section of the city as you could rent your driveway out to commuters looking for a convenient and safe place to park during the day.
No driveway? No problem. How about a basement, an attic, an extra room, or even a large closet? We live in a consumer-heavy society. People have a lot of things and are running out of places to store them. You need the extra money. You could be the answer to each others problem.
Chances are you have more than one rentable space in your house or on your property right now. Clean it up, get organized, and make a profit at the same time. Here’s how:
2- Sort It Out
Set aside a day or a weekend to move out everything in your new money making rental space. If it’s a driveway you’re thinking about renting out, all you’ll probably have to do is hose it down or sweep it off. You could be done and have it listed and ready for a renter in an hour. A closet or extra bedroom can be done in a day.
If it’s a garage, basement, barn, or other free-standing building that you want to convert and it’s currently full of junk, obviously it will take a little more time and effort but it is totally doable and absolutely worth it.
Start by asking your local grocery store or supermarket if they have any extra cardboard boxes (they will, and they will gladly give them to you). Pick an easily accessible corner of the room and start sorting through the stuff there. Make three piles: Keep, Garbage, and Give-Away and start sorting everything into those piles. You may be tempted to add a fourth pile, called Garage Sale or Craigslist. If you can be diligent enough to clean it up and organize the sale and follow through, then knock yourself out. Otherwise, it might be in your best interest to make a clean break and get rid of it quickly. Donate it to a thrift store or charity so you can free up space as soon as possible.
3- Move it Out and Clean it Up
Send all those Give-Away boxes to the salvation army. Pile up the pickup truck with the Garbage and head to the dump. Tell your adult son to come and pick up the old Tonka Trucks you’ve been storing for him since he was five years old. Once all the stuff is cleared out, hose it down, dust away cobwebs, and take note of and fix anything that needs attention: broken lightbulbs, loose floorboards, exposed nails or faulty wires. Anything that looks unsafe or unsanitary needs to be taken care of or else no one is going to want to rent your space.
Now look around at your clean and wide-open rental space and pat yourself on the back for a job well done! Time to start making money!
4- How Much?
How much can you make from renting out your garage or driveway? The average Hopperstock rental host makes between $1,000 and $5,000 per year by doing nothing but letting someone store their things on their property. Where your rental rate falls will depend on things like:
AMENITIES: Does your garage have electricity and heat? Does your driveway have a fence? Is it well-lit?
LOCATION: Is your driveway located near the business district, near the train, or bus line? Is your garage in a desirable or convenient part of town?
Both these things will impact the amount you can charge to rent out your garage or driveway. Check out the Hopperstock database of listings and see what other comparable rental spaces are going for. This will give you an idea and a starting place for how much to charge.
5- List It
Whether it’s a garage, barn, attic, basement, closet, or driveway, go to Hopperstock and list your space. Don’t forget to take lots of good pictures and upload them to your listing. They will add you into the database of available spaces for rent and advertise for you. That’s all you have to do. To get paid, go to the payment settings to enter your banking information. A renter will browse through the listings, and if they want to book your space, they will contact you. Answer their questions honestly and let them come out and physically inspect the space if they wish.
Once an agreement is made, direct the renter to Hopperstock.com where they can securely pay through the website and agree to the terms of the lease. Hopperstock will process the transaction and the money will be sent directly into your preferred banking account every month.
Easy! It doesn’t take a lot of effort to turn a junk collection space into a quick money-making opportunity.
Tell us about your experience as a rental host in the comments below. What was the hardest part, and which part was easier than you expected?