When we think about ways to make money off our living space, things like turning your home into a vacation rental come to mind.
But what if you live in an apartment and your apartment isn’t on the beach, in the mountains, the heart of the city, or some other highly-sought after location?
Is it possible to make money off your apartment?
It most certainly is!
Here are some simple ways to make your apartment work for you.
1. Turn Your Apartment Into a Photography Studio
If you are a photographer, you can easily make money off your apartment by transforming a room or two into a photography studio. Just invest in a few backdrops, props, and proper lighting, and you are good to go.
Most people won’t turn down the opportunity to have their picture professionally taken (hello, new Facebook profile picture!). Plus, with the holidays just around the corner, you’ll be sure to have your schedule booked.
You can advertise via social media and even place an ad in your apartment’s common area — perhaps where the mailboxes are located.
→ Related Reading: How I Turned a Photography Hobby Into $1,138,610
2. Transform Your Living Space Into a Daycare
Do you love children? If so, you may consider opening a daycare center in your apartment. Of course, to be a legit daycare center you have to get certifications and licensing. If that’s too much extra work, you probably have several friends with children who would love to have someone they know looking after their babies instead of a stranger.
All you’ll need are a few bouncers, pack-and-plays, and some entertainment areas. Oh, and be sure to baby proof your apartment before you welcome any little ones.
3. Become a Freelancer
Do you have spare time and a (not-so) hidden talent on your hands? Consider becoming a freelancer. Sites like Upwork give freelancers the platform to meet individuals who are seeking talent in all kinds of fields.
Whether you’re a CPA, writer, graphic designer, or anything else in between, it’s likely that someone needs your expertise, and you can do it from the convenience of your home. Set up a little home office so that you will be free from distractions, and make money from the comfort of your own home.
→ Related Reading: How (and why) to Get Started as a Freelance Writer
4. Rent Out Extra Space
Whether you travel often and are seeking to rent out your entire apartment for weeks on end or just have a spare bedroom you’re trying to make money off of, you can make it happen. Sites like Airbnb make the process hassle-free. Just be sure to obtain permission from your landlord beforehand.
→ Related reading: How to Rent a Room with Airbnb
5. Rent Out Your Parking Spot
Do you live in a part of town where parking spaces are a hot commodity? Have you sold your car and opted for bike life and public transportation? If so, you can make wads of cash each money by renting out your parking spot. Most apartment complexes provide their residents with a parking space, and if you don’t use it, it’s a money maker with untapped potential.
In cities like New York and Los Angeles — where finding a parking spot is like finding a four-leaf clover — you’ll have neighbors beating down your door trying to rent out your spot. Determine what the average monthly costs of parking are in your area, and take it from there.
6. Let Your Apartment Enjoy Its Five Seconds of Fame
Movie producers are always looking for interesting and diverse sets for their films. Whether you live in a sprawling manor or a humble apartment in the hood, it might be just what film directors are after. Yes, your house will be chaotic until the scene is shot, but it’s a good (and fun) way to make some spare cash.
Though production companies generally like to work with owners instead of renters, it still might be possible, especially if you live in an area where the film industry is booming, like Atlanta, Georgia.
7. Sell Some Stuff
Is everything in your apartment really worth keeping, or have you just been too lazy to get rid of it? You probably have tons of cash hidden in your rooms and you can tap into that potential by having a yard sale or selling things online via one of the many selling apps.