Most people have a lot of “stuff” they aren’t using as much as they used to. But just because you’re not using it as much as you expected to, or you don’t need it anymore, doesn’t mean it has to sit there. With a wide range of services to help you rent things you own, there may be a side hustle hiding in that swimming pool, extra bedroom, and jet ski.
Here are 23 things to rent out to make money, along with 48 services that will help you do it safely, easily, and effectively.
Rent Your Home (or Part of It)
Your home offers a wide range of income-generating opportunities depending on its size, location, and amenities.
You can rent your entire home for short stays or get companionship and/or help with homeownership expenses by renting an extra bedroom to a long-term tenant. Got a fabulous gourmet kitchen your friends swoon over? You can rent that, too. People will even pay to use your swimming pool.
Before exploring the services below that will help you do all of that, though, do some homework to see what’s required. Whether you’re renting your home to vacationers or movie producers who will use it as a set, ensure you fully understand what’s involved and are properly insured.
Check out these options and corresponding services.
- Your Entire House
- Airbnb
- Rent Like A Champion (for rentals near major sporting events such as major golf tournaments)
- VRBO (formerly known as Vacation Rentals by Owner)
- Long-Term Room Rental
- Just the Kitchen
- Function Space for Events or Movie Shoots
- Swimming Pool
Your Land
Whether you’ve got unused farmland, your house sits on a huge lot, or you just like meeting new people, consider renting your land for RV and camper parking, as individual garden plots, or even to hunters.
This is the right time to consider renting land to RV owners and campers looking for a place to park. More and more people are hitting the road in an RV, which means that it’s increasingly difficult to book a spot at conventional campgrounds. However, services such as Hipcamp require you to provide campers access to a toilet, even if it’s a composting toilet or outhouse. Gardeners will appreciate access to water, too.
These services make it easy to earn more from vacant land.
- RV and Camper Parking
- Garden Plots
- Hunting
- Private Dog Park
Your Vehicles
Whether you’ve inherited a perfectly good auto you don’t need, realized that RV life isn’t what you expected (after investing in a spiffy fifth wheel), or decided that cruising the highways on a motorcycle doesn’t suit your lifestyle anymore, you can earn money by renting your vehicles to travelers and others. Besides passenger vehicles, you can rent out bicycles, boats, jet skis, RVs, and golf carts.
Make the process as easy as possible by using a peer-to-peer rental service. Most require an inspection as part of the listing process and include insurance as part of the fee.
With autos specifically, you’ll also want to decide if you’re going to offer long-term rentals to gig workers such as Uber and Lyft drivers or delivery people. Some rent because they can’t afford a monthly car payment and insurance, while others prefer to drive passengers in vehicles that are nicer than those they own.
Clean up that RV and put air in those bike tires. It’s time to make money with your property with wheels.
10. Cars, Trucks, and Motorcycles
- Avail (protected by Allstate)
- Getaround
- HyreCar (for gig workers)
- Riders Share (motorcycles)
- Turo
11. RVs
12. Bicycles
13. Watercraft
14. Golf Carts
Personal Property
What do you have gathering dust in a closet, basement, or garage because you aren’t using it anymore? Whether it’s cross-country skis, designer fashions, or power tools, there’s a rental market for merchandise you’re not using – or not using enough.
Some of the services that help you rent them, including Rentah and Craigslist offer borrowers pretty much anything (perhaps making them less useful to lenders). Still, others, especially those for apparel, are specific to the lending category.
Two of the most popular and all-inclusive options for renting out personal property are Fat Llama and FriendWithA—the latter started when the creator heard friends say, “I wish I had a friend with a ….” It’s how many of us start borrowing items we won’t use enough to buy.
Consider all your personal property that could be generating money for you.
15. Sporting Goods
16. Clothes
17. Camera Equipment
18. Musical Instruments
19. Sewing Machines
20. Tools
Your Extra Spaces
“Space” that can be rented out comes in many forms. If you’ve ever ended up walking farther than you’d like to a sporting event or popular festival from your parked car, you can appreciate the value of having a guaranteed place to park near the venue. That will also help you see the income potential if you live within walking distance of these facilities or events. People will pay to park in your driveway, on your lawn, or in an apartment parking garage if it’s conveniently located, saving them time and trouble.
The same applies to boat slips. Why not rent yours while your watercraft is on a long cruise or being repaired? Renting it out when you’re not using it will help cover your overhead.
Think about your unused storage space, too. Some people never have enough of it. You know who they are – they’re the folks up the street with a two-car garage they don’t park their cars in because it’s loaded with stuff. Others need room to store furniture and boxes their offspring bring home when they leave college and return to the nest. Help them out while you earn a little from your unused space by lending them space in your garage or basement for a fee.
In some markets, you can even rent the space on your car’s exterior to advertisers launching or promoting a new product, service, or brand to the community. If you don’t mind having your car “wrapped” with an advertising message, explore whether that opportunity is available where you live.
A wide range of services help you earn money from unused space.
20. Parking
21. Boat Slip/Dock
22. Storage
23. Ad Space on Car/Car Wrapping
Which things can you rent that will bring you closer to whatever you’ve been saving for? With so many options and services available to help make the rental process easy for everyone, you’re sure to be able to find a way to earn a little extra money soon.
Seniority is published by Finance of America Reverse LLC. The views expressed in this publication are those of the author alone and do not necessarily reflect the views and opinions of Finance of America Companies. This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.
