There always comes a time when you need a little extra cash. Whether it’s to make the next car payment or to buy yourself something special, there are simply times in everyone’s life where your cash flow is lighter than necessary. One way to make quick cash is to rent out your garage.
Renting out your garage can be a daunting task, but it can reap many rewards. However, before you can rent out your garage, there are some things that you need to do first. These few tasks will make sure that you reap every reward your garage has in store.
You are already working on this step just by reading this article! There are many unknown factors when it comes to renting your garage. First, you need to find out if it is even legal for you to rent out your garage. For many people, it is. However, some landlords and leasing agreements forbid renting out your space. Check all of your housing agreements and with your landlord to make sure that you are on the right side of the law.
The next important bit of research comes with taxes. If you make money off of a certain part of your property, there is a good chance that you can write it off in your taxes. Check with a few tax outlets and websites to figure out the exact criteria required to do so. If you fit the requirements, you can make that garage work double time for you.
2. Clean it Up
The next step is to prepare your garage for storage. Make some decisions on how much of your garage you can rent out. If you need half of the garage for your own car, that definitely changes how much money you can eventually make off of this decision. Decide whether you want to use it for car storage, item storage, or some combination of the two. Each option will affect your garage slightly differently.
However, no matter how much of your garage you want to rent or what you want to rent it out for, you need to clean it up first. Give the space a thorough clean. Dirty spaces can damage storage items over time, resulting in a huge problem on your hands.
The final step is to turn your decision toward the money. Find places to advertise your garage and start renting out the space. The easiest place to start telling people about your space is on rental sites. There are a few different types of rental sites out there, but Hopperstock is one that can be a game changer. Hopperstock is a community storage site that helps you connect with people in your community that need rental spaces. It would be a great place to start your advertising and renting.
Once you are able to build a reputation and following, people will spread the word about you wonderful space and you will be able to make that car payment and treat yourself without a care in the world.