Taking advantage of the things you already have can be a great way to make money. While there are plenty of different side hustle ideas that you can pursue, one of the fastest ways to make money is to sell some of your stuff.
But another alternative that allows you to make money from your stuff is to rent it out to others. Renting your possessions isn’t just a way to make some quick money, it can also become a regular side hustle that turns your things into income-generating assets. It can be a side hustle that doesn’t take much of your time to maintain.
If this sounds good, you may be wondering what you can rent. This article lists all of the best things you can rent to make extra money. Hopefully, it will provide you with some ideas that you can put into practice to start making money.
Why Renting Things Can Be a Great Side Hustle
Before we look at the different options that are available, first let’s talk about why it makes a lot of sense to rent your stuff. At first, you might think that you don’t want other people using your stuff. That’s one factor that you’ll need to consider, but the reasons listed below might be enough to convince you to give it a shot.
- (Somewhat) Passive Income. When you’re renting things out, you’ll be making money by leveraging assets that you already have (passive income), not by working more hours. You may need to put a little bit of time into the side hustle, but it’s not like you’re trading your time for money. This can be a great fit if you have a tight schedule and limited extra time for a side hustle.
- Make Money Outside of a Job. Whether you have a job and you’re looking for something extra, or you don’t have a job and you want to make money from home, this could be a good fit.
- Make Money from Things That Aren’t Being Used. By renting your stuff, you turn something that is not being used into an income producing asset.
- Offset the Cost of Your Items. Getting some money back by renting out an item is a great way to essentially offset the cost of buying it.
- Lots of Possibilities. As you’ll see throughout this article, there are loads of possibilities and all different kinds of things you can rent.
- Help Others. While it may not be your primary motivation for renting your stuff, you’ll also be helping others to save money since they won’t have to buy the item for themselves.
Things You Can Rent for Extra Money
Let’s take a look at some of the options. Of course, the items listed here are really only the beginning. Use your creativity and you may be able to find some other things in your home that you can rent out to others.
First, let’s start with some general options. There are a few websites that focus on product rentals and allow you to list just about anything. These websites exist for the purpose of matching you up with people who are interested in renting your stuff. You can create a listing for the things that you want to rent, take a photo, set your price, and you’ll be notified when someone wants to rent it.
- Fat Lama – One of the most popular websites for renting just about anything. The site claims that average lenders make $50 per week and top lenders make up to $3,000 per month.
- Loanables – Another general rental site where you can list things like appliances, musical instruments, furniture, and more.
- Rentah – List things like party supplies, tools, sporting goods, outdoor items, fashion, electronics, and more. You can also list some services like child care and entertainment.
The growth of Airbnb and other similar marketplaces has made it easier than ever to make money by renting out your home, a spare bedroom, or a unit in your home. Some people make money with short term rentals throughout the year, and others will rent out a room or their home when there are major events in their city/town. Either way, it can be a great way to make some extra money.
Of course, this option will be better for some people than others, depending on the setup of your home and property. Earlier this year, I interviewed Riley from Young and the Invested about the experience he and his wife have had renting a lock-off unit that is a part of their home (read it here: How to Make Money Renting Room with Airbnb).
While Airbnb has made short-term rentals more feasible, renting a room or unit to a long-term tenant is always an option too.
In the right situation, you can make a significant amount of money renting a room, a unit, or your home. Here are a few sites to consider:
Depending on where you live, you may be able to make money by renting your home at particular times of the year. Rent Like A Champion is a site that allows renters to find private homes near games, golf tournaments, races, and other big events. In the right location, you can make great money in a short period of time renting your home to one of the thousands of visitors who will be descending upon the area.
3. House or Space (for Events)
If you want to rent your home or space, you’re not limited to long-term tenants or short-term rentals for travelers. Another option is to allow you space to be rented for other purposes. Common uses include filming, photoshoots, parties, and other types of events.
- LocationsHub – You can list your home or property to be rented for filming productions. In order to create the listing, you’ll need to pay a fee starting at $4.95 per month. You’ll be able to set your price, and you’ll keep all of the money (no commission for LocationsHub). The amount you can make will vary, but it’s generally somewhere between $1,000 – $5,000 per day.
- SetScouter – You can list your home to be rented for the production of commercials, music videos, and branded content.
- Giggster – List your home or space to be rented for filming or to host a party or an event.
- Peerspace – List your space to be rented for filming or other events like weddings, parties, meetings, and more.
- Splacer – List your space to be rented for filming, productions, weddings, parties, networking events, and more.
- thisopenspace – List your space for photoshoots, events, meetings, and more.
4. Office Space
Do you have space that could be used as an office or meeting room? It could be a part of your home, or some other property that you own. The websites listed below can help you to make money by renting space for business purposes.
- LiquidSpace – Rent out some desks, a conference room, or an office.
- Desktime – Allows you to list your co-working space for others to rent.
- ShareDesk – Another site for listing your co-working or office space.
5. Parking Space
If you live in the right location, your parking space or driveway can be a valuable asset that others will pay to rent. Simply rent it out when you don’t need it for yourself and you can make some easy money on the side. There are several websites that allow you to list your parking space, including:
6. Storage Space
Maybe you don’t have a house that is ideal for things like short-term rentals or filming. And maybe you don’t live in an area where your parking spot would be in demand. But maybe you do have some extra space that could be used for storage.
The storage rental business is obviously very large, with self-storage locations all over the place. Did you know there are also several websites that make it easy for you to