RoxanneWhen it comes to making money, passive income is hard to top. Instead of having to constantly work to make cash, passive income comes in on its own. What’s the most common way to make passive income? By renting out real estate.
Unfortunately, not everyone has thousands or millions of dollars to own real estate. But thanks to the Internet, you can own much less expensive items that other people will rent, giving you a much easier path to passive income.
Let’s look at the different ways you can earn income by renting out things you own. Once you’re finished reading this, sign up on the sites listed so you can start raking in that cash without doing much work.
Your Car
While most people use their cars frequently, that may have changed since the pandemic, especially if you’re now working from home.
Instead of having your car sit in the driveway, you could rent it out for a lot more than your monthly payments. How much? As much as $1,000 per month by renting out your car on HyreCar.
As you probably know, rideshare services are everywhere nowadays. But not all of those services’ drivers have their own cars, which is where HyreCar comes in.
People who rarely use their vehicles rent them out to HyreCar, who in turn rents them out to rideshare drivers. And while you may not love the idea of renting out your vehicle, the $1,000 per month can quickly change your mind.
Your Household Items
What do these everyday items have in common?
- Tools
- Toys
- Clothes
- Electronics
- Books
They’re all things you probably have in your home. And if you want to put them to use to earn passive income, you can rent them out on Ruckify.com.
Beyond those everyday items, you can rent out almost anything you can think of on Ruckify, including space in your home, patio furniture, medical equipment, and more. Head over to the site to see what other people are listing so you can do the same.
Your Unused Space
Do you have an extra room that’s not being used? Put it on Airbnb, and travelers can rent it to put a significant dent in your monthly bills.
What about a closet, shed, or storage space? You can put those areas of your home for rent on Neighbor.com, where some users make over $10,000 in extra income per year.
The ways to earn passive income from your home’s space don’t end there, though, as you can rent out parking spaces or your garage too via Air Garage. And if you have a spacious backyard, you could earn over $1,000 per month renting it out to people with pets.
Your Home – Temporarily.
Have you ever heard of Giggster? It’s a site where you can list your home for rent. But instead of having people live in it, they’ll film movies, commercials, or TV shows in it for an average of $2,000 per gig.
