Sure, the experts say the economy is recovering but if you’re like most Americans, you’re probably still struggling to make ends meet or pay down debt. If a second (or third) job isn’t an option, there might be another way for you to bring in some extra cash: Rent your stuff. Below, we’ve shared a list of the top five things you can be renting out right now to make some extra money, courtesy of Matthew Ong, a senior retail analyst at NerdWallet.
Your home: Consider filling your home with short-term renters while you are on vacation or taking a weekend getaway. List your home on one of the many different service sites and make money to pay your bills by renting your home to visitors looking for an “authentic local experience at an affordable price.” Sites such as Airbnb, Wimdu, and 9flats offer free listings in exchange for a 3% booking fee or you can go the no fee route by paying an annual subscription to list your home on HomeAway.
Your car: Renting your car could potentially cover all of the costs associated with owning it so consider a peer-to-peer car rental site such as RelayRides, Getaround, or JustShareIt. Each site allows you to set the price and availability for your ride and offers theft and damage coverage and an insurance policy. Fees for each service vary.
Your space: An empty basement or garage or an off-street parking spot could help you fetch some extra income. Store At My House and ShareMyStorage allow users to rent extra storage space in their basements, attics, or garage for a set period of time. JustPark, ParkingPanda, and CARMAnation allows individuals to rent a parking space or empty driveway for a small commission fee.
Your textbooks: Use RentBack by CampusBookRentals to rent your textbooks. Simply send in your book and receive a payment each time it’s rented.
Your stuff: Rent out pretty much anything you would find in your garage such as power tools, mowers, bikes, ski gear, instruments and more to make a little extra spending money. Loanables charges a 10 percent fee per rental whereas Zilok bases its charges on a sliding scale. Other sites to consider are Spinlister (bikes, surf gear, snow equipment) and Boatbound (canoes, powerboats, yachts, etc.).
