Here’s my confession: sometimes I buy an expensive item and tell myself that I will use it a lot, but after some time, I barely use the item at all. Before long, I am kicking myself because I feel like I’ve wasted my money. Sound familiar? Well, don’t beat yourself up yet because I am going to tell you how to make extra money renting out your stuff.
Neighbor
Neighbor.com is a peer to peer storage space rental. If you have some extra space, you could rent it out to people looking for somewhere to store their belongings. Neighbor links people together for self-storage and vehicle storage.
You could rent out several different places. For example, you could store people’s stuff in a spare bedroom, in your basement, or even rent out your driveway to store someone’s boat or vehicle.
Worried about the ‘what ifs?’ Neighbor has a $2 million host guarantee, $25,000 renter guarantee, and secure, automatic payments. They also provide background checks on renters.
Listing is free. However, Neighbor does charge a processing fee to cover the cost of automatic payments. Currently, that fee is 4.9% of the gross reservation plus $0.30 for each payout you receive.
Outdoorsy
Outdoorsy is the largest RV rental marketplace. If you have an RV that you don’t use all the time, you can turn it into a huge asset.
Outdoorsy has great reviews. They offer $1 million in insurance to owners and renters. They will also perform a DMV check on all drivers. If you are unsure about renting to someone, don’t worry, you have the final say in who gets to rent your RV.
Listing your RV is free but there will be a transaction fee applied from each successful booking.
How much can you make on Outdoorsy? According to their website, owners average around $2,000/mo. in rental income.
Gamping.com
Gamping is a site that helps people find private land they can use for camping or other outdoor activities. If you have a nice piece of land that you wouldn’t mind someone using, you could rent it out.
Gamping processes payments securely online and charges a service fee to all hosts.
The only negative to Gamping is that they do not check user information and they do not provide any type of insurance. So if you want to take advantage of Gamping.com, you should carry your own insurance.
Boatsetter
Got a boat? Share it with others to dramatically reduce the cost of ownership.
If you are uncomfortable with having an inexperienced renter, you can choose to rent only to experienced captains. Boatsetter will also perform an identity screening on renters.
Boatsetter offers insurance and towing services for owners. However, under USCG rules, you are required to have a commercial charter policy covering your boat rental. You can either purchase your own or purchase a policy through Boatsetter’s peer to peer program.
Fatllama.com
Looking for a more all-inclusive website? You can make extra money renting out your stuff on Fat Llama. On their website, you can rent out everything from your bike, camera, dresses, party equipment, tools and more.
To use their services, simply list your item description, price, and location. Once you approve a borrower’s request, arrange a time to exchange the item. Then get paid within three business days from the start of the rental.
Fat Llama provides an insurance policy for your items of up to $30,000.
Bonus: If you use our referral link provided, you can get $20 off your first rental or purchase.
If you’ve ever wondered how to make extra money renting out your stuff, these websites are the answer. Neighbor.com is for storage space, Outdoorsy is for RV Rentals, Gamping.com is for land rentals, boatsetter.com is for boat rental, and Fat Llama is for… everything.
Don’t allow your property to collect dust. Make your stuff work for you by renting them out to others!
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