A full-time nine to five job doesn’t seem to be enough to sustain a families’ basic. More and more people are looking for more options to earn income using the resources they have at hand. One option is to consider renting assets you already open. There are new clever ways to turn your unused stuff and space into passive income.
What Is Peer-to-Peer Renting?
Peer-to-peer renting is a concept where people can share their things with someone else (their peers) while earning money at the same time. This can range from unused camping gear to an unused bicycle. As long as the items are in good working order there might be interest in someone using them. Renting out your items allows those who can’t afford to buy their own or only have occasional need to get easier access to those items. It is a practical idea that makes the most out of available assets.
The idea has become more popular various peer-to-peer renting online platforms have emerged. It provides both parties with a platform where they can meet and transact in a secure and easier fashion. If you are planning on getting into the business of peer-to-peer renting, here are a few things you can rent out.
Rent Out Your Car, Motorcycle, Or Bicycle
Reliable transportation is a critical day to day need for just about everyone. When it comes to earning extra income through peer-to-peer renting, car renting can possibly give you the best option for return on your investment.
Renting out a car can be a scary thing to do though. Apart from the fear of getting it damaged or broken, the fear that it might get stolen can also cause stress. That sounds scary and problematic, but the good thing is, there are a lot of peer-to-peer car-renting companies and websites that can provide solutions to your concerns and help to keep the process as passive as possible.
So if you have a car sitting in your garage and isn’t used often, then it is perhaps the time to use it and earn a few bucks at the same time. To start, look for a company that can help you connect with people who are nearby and in need of a car (check out https://www.getaround.com/ and https://turo.com/). These car rentals companies have booking management, payment process and insurance to make sure that your vehicle is in safe hands and will return undamaged.
On the other hand, if you don’t have a spare car, a motorcycle or a bicycle can also work. The same process as the car-renting. Find a company to help you advertise and ensure your vehicle’s safety.
Rent Out an Unused Room in Your House
Traveling is something we all love to do and it seems to only get more expensive the reality is even one or two nights stay in a nice hotels can be out of reach. With services such as Airbnb and others you can easily rent out a spare room, a guest house, the room above the garage or even your whole home while you’re on vacation. Companies like VRBO and HomeAway can help you advertise and find guests to rent your space. With the idea gaining in popularity you will need to research the market and see how your space stacks up to others in the area.
Rent Out A Little Space in Your Garage
Do you have a garage? Does it have some extra space? Do you know someone who needs some extra storage? That’s a perfect opportunity to make a little income off something you already have. Make sure your aware of what your storing and ensure that your insurance will cover the items should they be stolen for some reason.
Rent Out Your Unused Travel Luggage
Good high-quality travel luggage can be quite expensive especially if you need to go on longer trips. And purchasing brand new travel luggage may not be a wise decision, especially if it is only going to be used once in a great while. As a result, some rent luggage and pay a lower price instead of buying their own. If you have some great luggage just sitting idle, then consider renting it out for use. Check out online platforms such as Rent Luggage and Platform 13 to facilitate the process. These luggage renting websites can aid you in searching your first renter as well as a great way to ensure your stuff will return and free of damage.
Clothing
If you have to attend a special event, dress up for that special night out or just want something different to wear you might have sticker shock at the attire needed. Likewise, you may have bought a few outfits along the way that sit idle. Why not consider renting them out for an affordable price. To start, you can look up different peer-to-peer renting websites online that offer clothing rental. Some of the well-known sites are Style Lend and Rent the Runway. These services facilitate the process of renting, getting paid and helping to ensure your items don’t get damaged or stolen.
High-Definition Camera and Equipment
High-definition high quality cameras and related equipment are also in great demand and expensive. This equipment can be used on for special occasions such as weddings, corporate events and even special travel trips. If you have a spare professional camera and equipment such as DSLRs, GoPros, Under-Water Action Cameras, Tripod, or Camera Drones, why not earn some cash by renting it out. You can begin with peer-to-peer renting online platforms such as Kitsplit, Cameralends, and ShareGrid.
Renting out assets is a great way to passively make income off existing things you own. With today’s internet driven world there are many options to easily facilitate making your items available for others to use and you make money in the process.