There’s this saying that one in hand is two in the bush. Wiser people have now said that a real estate owned is worth millions in the bank – and that too on a consistent basis. There’s not a single person who can deny this piece of knowledge. In fact, real estate is not just a market, it supports at least two professions – brokers and almost you know who can build anything.
Now, of course, there’s this big-ticket real estate market that comprises of well-heeled individuals buying or renting ridiculously priced houses just because they can. That market is not a good place to be in. The tenants might change their moment any moment and with the prices offered and accepted, you never know whether the people will be as rich tomorrow to remain true to your offer.
Therefore, what really works in the real estate market are the garages and small plots that one would own – these sweet deals are always wanted by someone or the other. If you have a garage area free and are in the neighboring areas of Lake County, Cuyahoga County, and Geauga County, this article will tell you how to make money out of your garage area.
Here let’s talk about you renting out garages and making some income!
Rent it to a startup
Startup gigs are always looking for ways to decrease their overhead costs. Most startups won’t be looking for swanky offices and such, at least in the first few years of their business. So, it makes sense for them to look for real estate options like a garage or some a spare room that they can rent and then save some money in the process. If you are renting out garage, startups are a good beginning. The best part about working with startups is that they are completely transparent in their ways of working and have no hang-ups about how to do business. You will see that the startups are more enthusiastic than you to ensure that every dot and dash is signed off and the paperwork is in immaculate condition. This is a sharing economy business model.
Rent the garage as a storage space
The storage space market is really booming right now. With e-tailers coming into the picture, there’s quite a demand for rental places that are economical and easily available. The garage areas are the best locations for such storage space rental requirements. Garages are generally built in a very spartan manner. There are some other reasons why the garage spaces are preferred properties in the storage space market. They are easier to go to and are mostly a good distance away from the actual house, which ensures that the household always has the required amount of privacy. Garages are anyway a place which you use to store everything that you don’t want inside the house.
The best way to seek companies – both small and big – who are looking for storage space rentals is to look at the classifieds section of the newspapers. Also, you could search for companies and individuals searching for storage space on the Internet. Several websites double up as an ad platform and people do put up such ads.
What’s interesting is that big and small companies are looking for storage rental all the time. All you need to do is contact your local arm of such businesses and find out whether they are looking for storage space on rent.
Set up your own business in the garage
Many successful companies started out in a garage. You’d be surprised to know how many. Whether your business concept will reach that big a stage, one never knows. But what one does know, is that even the biggest concept needs office space to come true in – and that’s where your garage space comes into play. Setting up a business is a good idea. The better idea is to set it up on your real estate, so you don’t have to pay the staggeringly increasing rental prices for property. The inability to rent a good place has been the death knell of many a concept, and you don’t have to worry about it because you do have real estate that you can use for your business idea.
These are some simple ways in which you can make money out of your garage property. Out of these, storage space rentals are the simplest and hassle-free way to make money. You don’t have to spruce up your place for an incoming tenant, you don’t have to redo the garage keeping in mind what’s the concept of the start-up, so on and so forth.
If you would like to learn more about the Sharing Economy and opportunities on renting out your extra space check out this article Heres How Your Extra Space Can Mean More Money