Regardless of whether you are a long term planner or a short term spender when it comes to your money, we can all agree it’s always nice to earn some extra cash. And while starting a business or side project has the potential to be extremely profitable, it’s also undeniably a big drain on your time. There’s also the potential financial loss you may incur if your side business doesn’t work out as planned.
If you are looking easier way to make some extra cash, why not start by renting out your stuff?
Previously we’ve given you some ideas on weekend jobs to earn some extra money so now we’re kicking it up a notch and giving you all the best ways you rent out your stuff to earn extra cash. The perk of sharing your stuff is that if you’re short on time, money or both, renting out your stuff is an easy way to generate income with what you already have.
You might find you are surprised by some of the items on this list that you can rent out!
Stuff you can rent out for extra money
- Rent out your house
- Rent out a room
- Rent out your car with Car Next Door
- Rent out your backyard
- Rent out your clothes
- Rent out your skills
- Rent out your tools
- Rent out your campervan
Rent out your house
Airbnb. Of course we have to mention Airbnb, the ten year old behemoth that sprung into existence when two friends in San Francisco couldn’t pay their rent. Now boasting over 300 million reservations and operating in over 180 cities, it’s fair to say that when it comes to renting out your stuff, Airbnb has paved the way.
Of course, it wouldn’t be fair to mention Airbnb and not talk about some of Airbnb’s competitors.
Flipkey is a subsidiary of TripAdvisor and has also been around for over ten years. They operate in a similar way to Airbnb, and currently operate in just under 180 countries.
Stayz (now known as Homeaway) started independently in Australia in 2005 before being acquired by travel giant Expedia under its Homeaway banner in 2010. They operate in just over 190 countries and have around 2 million properties available.
Don't have a spare room or house to share?
Don’t worry, I’ve got some great suggestions of other stuff you can rent out to people to earn that extra cash. Did you know that there are other parts of your property that you can rent out?
Rent out your backyard
Photo by Angelina Kichukova
Youcamp is a service that allows people to rent out space on their property to people who want to escape the city for a few days. If you can rent out your stuff, you can rent out your spare land! One of the advantages of renting out your backyard is that you don’t really even need to do anything. Owners can set what facilities they offer (or don’t), from bathrooms to firepits. There’s also the option to offer extras, such as camping gear, tours or other facilities for an additional fee.
Rent out your extra space
Spacer is a site that, as the name implies, lets you rent out your space. Its main focus is people who have spare car parks for rent, or spare space in their shed, attic, or somewhere else. You can set your own rental rates and earn money from literally nothing.
Parkhound is a platform that allows you to rent out your car parking space. Do you live in an area where the streets are always filled with commuters parking to get to work? Well, those commuters hate it as well, having to stress about finding decent street parking before getting to work. Now you have a mutually beneficial relationship that makes you money and saves them time (and the stress of worrying about parking tickets).
Rent out your other stuff
If you’ve been reading this thinking, okay cool so if I had some spare property lying around that would be great but… don’t worry! There is a surprising amount of stuff lying around in your house right now that you probably don’t even realise you can rent out.
The share econonomy and transportation
Companies like Uber will allow you to earn extra cash when you use your car to drive people around. But that still requires your car and your time. Luckily, if you have the car, you can still make money on it without the cost of your time.
Car Next Door is a peer to peer car sharing company.
We provide the insurance, technology and the platform for you to safely rent out your car (or van, convertible, SUV) to your neighbours. It’s easy to sign up and join as a car owner.
Angie who rents out her RAV4 says “I much prefer having my car out and about earning money for me than costing me money!”
If you don’t use your car during the week, instead of having it sitting around doing nothing, put it to work! Whether you share your vehicle or not, you’re still going to be stuck paying insurance and registration every year. Why not rent it out while you aren’t using it to help save moeny by offsetting the costs of your vehicle.
Camplify is Australia's largest caravan hire and RV peer-to-peer sharing community. Who doesn’t dream of one day taking an RV and exploring our beautiful country? But who also is slightly horrified by the idea of spending thousands of dollars on an RV for their yearly month long trip, only to have it sit around doing nothing for the rest of the year (except cost you money). By sharing your caravan or RV, you not only can offset that cost, you can also enjoy knowing that because you have been generous enough to share your vehicle, more people will get to experience the joy of camping without having to purchase their own RV.
Rent out your clothes
Photo by Nikola Jovanovic
The Volte. If you’ve got a serious shopping addiction you can finally start earning some money back! The Volte is a site that allows you to rent out your stuff to other fashion lovers. If you’ve got a dress that doesn’t quite fit, or you’ve worn it enough but can’t bear to let it go, why not rent it out to recoup some money on it?
Rent out the stuff you can do
SwapAnHour is an app which get you access to a community of swappers with different skills. You bank hours when you help a swapper and in return get free help for that time. It appears they've recently started in Sydney, so if you’ve got some skills you think you could trade, why not jump on and start swapping!
Fiver is another online site where you can offer your services to people who need them, from designing a website to writing a story. There are heaps of opportunities for you to start renting out your skills to people online.
Rent out your tools
Toolmates, is similar to previous peer to peer rental startup Openshed. How many times have you been in a situation where you’ve needed an expensive tool for a job, only to then have it sit, languishing in your shed for months or years at a time? Now you can share them with Toolmates. By renting out your tools to other people, you can not only know you’re helping someone make their DIY dreams come true, but you’ll be able to offset their cost to you.
Benefits of Peer to Peer sharing
Look, we know there is a chance you’ve been reading this thinking “well of course you’re going to say peer to peer is great” and that is a fair point. We do love peer to peer rentals, which is why we spend so much time talking about it! We just think it makes so much sense for our communities and our environment. If you’re very particular with your stuff then sure, maybe sharing isn’t for you. But we were always raised with the belief that sharing is caring, and that’s the message we are trying to spread!
If you think you’d like to be a part of the sharing movement, get in touch with us, or any of the companies we’ve mentioned to start sharing your stuff and earning some extra money!