For nearly seven years, as the founder, CEO and editor of SideHusl, I’ve devoted my time to researching and reviewing platforms that aim to help people make some extra money. A common question I’m asked is, “How can I turn what I already own into a side hustle?”
If you find that you are house rich but cash poor, for example, there are actually a number of ways that you can use your home to make some passive income — and you don’t need a roommate to do it.
Having sifted through over 500 online platforms, I’ve found that several allow you to monetize the space you live in by renting out pieces of it for a specific purpose, like storage.
Best of all, these housing hustles are low-maintenance side gigs that don’t require a ton of time or effort on your part. Here is my best advice if you want to turn your home into a potentially lucrative side hustle.
DON’T MISS: The ultimate guide to earning passive income online
1. Rent storage space
Some sites, including Neighbor and Stache, allow people with empty space to rent it out for storage. This can be part of an attic or basement, an empty bay in your garage, a room, a closet — even the space under your bed.
All you need to do is measure the dimensions of your empty space, snap a few photos and come up with a fair price for renting it. Most peer-to-peer storage rental sites will provide guidance on average rates in your neighborhood. The price you charge is ultimately up to you.
You can set restrictions. Most storage companies, including these platforms, bar weapons or anything hazardous, as well as any items of great worth such as artwork, cash, securities and jewelry, for example. And you can limit how often customers can access their goods and require that they call ahead.
2. Make the yard a dog park
A site called Sniffspot connects people with fenced-off yards with pet owners who want a quiet place to play.
Homeowners set their own rates, which typically range between $10 and $25 per hour, per animal. They determine whether to offer amenities, such as tennis balls and benches for pet-owners to sit down.
All you have to do is post a profile, set your rates, and leave the gate unlocked. The site offers $1 million in liability protection for hosts, as well as limited damage coverage.
3. Peddle your pool
Got a swimming pool? It, too, can be rented by the hour through a site called Swimply.
You simply need to publish a profile, set rates, snap photos and tell potential visitors what they get access to besides the pool and deck. For instance, is there a restroom or changing area they can use? Does the pool area have a barbecue that’s available for guests?
Although these additional amenities are not a requirement for listing your pool, you’re likely to get more bookings with that type of extra amenity.
Notably, Swimply also automatically provides liability and some damage coverage to protect hosts.
4. Invite in film crews and photographers
Several sites — including Giggster, Avvay and Peerspace — that specialize in finding unique venues for filming, photo shoots and events encourage you to list your house for rent by the hour. A house that might rent for $100 a night on Airbnb can rent for $100 an hour here.
Renters are expected to leave the property in the same condition as they found it, so there generally isn’t a need to add a cleaning fee. However, you are allowed to add additional fees (like for a site representative or a cleaning fee), if you want to.
You get to decide what kinds of events you’re willing to host, whether renters get access to the entire house or just parts of it, and the maximum number of people allowed.
You also set your own rates and determine terms, like whether the renter needs to buy event insurance to host a party at your place, which I would highly recommend.
You can also set minimum rental times of, say, four hours. That way you’ll know that whenever you get a booking, you’ll earn enough to make it worth your while.
Kathy Kristof is founder of SideHusl.com, the web’s most comprehensive directory of side hustle platforms.
Want to make extra money outside of your day job? Sign up for CNBC’s online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.
