Whether you rent or you’re a homeowner, there are plenty of ways you can make money from your home.
Rent Out a Room in Your House
There are lots of people who need to rent a room in a convenient location, so consider earning some extra cash by renting out your spare room. There are many ways this could work – someone may need somewhere to live during the week while they are working but travels home at the weekends, or maybe a student needs a room near university or college during term time? A spare room could provide an appropriate working environment for someone who requires temporary office space. Whatever arrangements you make, the government allows you to earn a healthy sum per year tax-free from letting out furnished accommodation in your home.
Rent Out Your Driveway or Parking Space
It’s not just the spare space inside your house that can earn you some money, but also your parking space outside. If you own a driveway or parking space that you don’t use you could list your space on a site such as www.spacehopper.com and start earning. This can be particularly lucrative if you live near a popular venue such as a sports stadium or tourist attraction, or if you live near a town centre or a station from which people commute into a city – it’s even possible to work out how much you can earn from renting out your driveway space. You’ll earn some extra cash and drivers benefit from cheaper parking. An added benefit is that your house appears occupied, giving you extra security! You can even make more money if you offer drivers a parking space behind gates, under cover or even in a garage.
Rent Out Your Whole Property
If your house is empty for long periods of time you could make money by renting it out. If you are away on holiday or on a business trip there may be someone who’s looking for a place like yours to rent, either for their holiday or own corporate requirements. List your house on a site like www.airbnb.co.uk. Again, location is key here and if you live near a tourist attraction, popular venue, or in a popular holiday destination you’re more likely to make greater profits.
There are also companies who list houses as film or shoot locations. This could be another way to earn extra cash if you don’t mind film crews invading your home for days on end. While the houses used for filming are often quite impressive in some way – think huge, high-tech, immaculate, stately, and designer – all sorts of houses are used in films and photo shoots.
Rent Out Your Possessions, or Sell Them!
We’re largely a nation of hoarders and most households are guilty of having too much stuff. There’s money tied up in your old things though, so get rid of items you haven’t used in years or don’t need on sites such as www.ebay.co.uk or www.preloved.co.uk. Whether you want to sell your books, clothes, children’s toys or any obscure item you can think of, there will be a market for them!
If you don’t want to actually get rid of an item but would still like to make some money from it, how about renting it out? Possessions such as clothes, handbags, DIY equipment and gardening equipment that you might only use once or twice a year could bring in some extra cash. Think of a designer handbag, a dinner jacket, wallpaper stripper or hedge trimmer; these are things that people in your neighbourhood may want to borrow rather than buy.
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