5 ways to make extra income from your property
Last Modified 16th of February 2021
It’s always nice to make a bit more money to put towards savings, a new car or a dream holiday. Here are a few ways you can make extra income from your property!
Profit from parking
Do you live in the city, where free parking is scarce? If you’re lucky enough to have hard-standing parking space as part of your property, then renting it out is a hassle-free way to make some extra cash. Link up with eager parkers on websites such as JustPark.
Rent out storage space
Storemates is a new service that matches people with things to store to those with storage space in their home. Users are encouraged to be generous and community-minded and set low prices on their storage space, but even so it’s still extra cash for very little effort. If you charge 50% of the price of commercial storage, you could earn £25 a week for 50 square feet, earning £800 over the site’s average 8 month period. Storemates has guidelines on creating contracts and inventories.
Lights, camera, action
You don’t need to live in a stately home to let your house our as a film location. There are a number of agencies that match film crews with properties, including Amazing Space, Lavish Locations, and Film Locations UK. Never use a company that charges an upfront fee – reputable agencies will take a commission once your property actually gets used as a location. Householders report earning £500 or more per day.
Monday to Friday lodger
If the idea of having a full-time lodger in your living space is a bit much, then why not rent out to a commuter just from Mondays to Fridays? There are a growing number of workers wanting to avoid the stress and time-sink of the daily commute, and if you live within walking distance of a city centre or business centre, yours is the kind of spare room they are looking for. Sign up at MondaytoFriday.com, or advertise on Gumtree.
The main event
Do you live near a big sporting or cultural event? If so, you could rent out your home to visitors who’ll pay a premium to be close to the action. Now whether this would work to your advantage or not really depends on your living circumstances. For small households who can go and crash with a friend or relative for a few days, it could be a great little earner. Other events such as the TT Race, Wimbledon, or Glastonbury are all possibilities. The first step is to contact your local tourist board who will put you in touch with potential visitors.