Worried about money and finances? With talk of a possible recession, worries in the stock markets and concerns about rising inflation, it’s no wonder people are feeling a little stuck these days. You might even consider taking up a side hustle or two to make ends meet.
Before you storm out the door to deliver food or drive people around in your car, consider the latest peer-to-peer rental craze. Just imagine the “Airbnb of…”.
There are now apps and websites where you can rent all sorts of things from lawnmowers and camping gear to boats, gardens, swimming pools and even chicken coops! The latest apps make it easy to rent out things you don’t use anyway. You might be shocked at how much money you can make – without putting in too much time or effort.
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Get cash out of your camper
According to industry statistics, the average RV owner uses their trailer and trailer for only three or four weeks a year. If you own a camper, trailer or trailer, it can be pretty damn lucrative to rent it out when you’re not using it. According to peer-to-peer RV rental site Outdoorsy, several RV owners make around $50,000 a year — and even more — on their platform.
Around this time last year, my family loaded into a Sprinter van towing a small teardrop trailer and drove across the country on a pandemic-related #vanlifeadventure. Now it mainly sits around collecting dust so we decided to rent it out.
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I’ve been on the other side and have rented RVs from Outdoorsy half a dozen times since it first launched in 2015 and it’s been a great experience. But this is the first time I rent the person. Honestly? It was a lot easier than I expected.
The company walks you through the ropes online. The owners set the prices and rules and can choose things like smoking, pets or traveling abroad. You can even specify how many miles you are willing to let the renter accumulate during their adventure with your gear.
Renters pay through the app and you receive your money within a day of returning your rental car.
Whether you own a humble RV like ours or a massive RV, every rental is covered with up to $1 million in liability insurance and renters get free 24/7 roadside assistance should they need it. Outdoorsy and others typically take a 20% to 25% commission for finding tenants and handling all of those middlemen.
Cars, trucks and even bikes!
The great thing about sites like Outdoorsy, or other peer-to-peer car rental sites like Turo, is that renters are verified by the company, so you know they’re reputable. Turo is another site that I rent from quite often – it has completely replaced car rentals for me – and I’m now even considering listing my old Audi for rent there.
I recently rented a Ford Edge on a business trip to San Francisco. It couldn’t have gone more smoothly. Users log into the app, can see your auto entry by location, and book it with specific pickup and drop-off times. Turo covers your car for up to $750,000 if something goes wrong, and the company says the average vehicle brings in over $10,000 a year from rentals.
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There is also a bike rental market. On a site called Spinlister, anyone can set a rate and list it for daily, weekly, or even monthly rentals. I just found out that my cousin-in-law who lives in San Diego lists two bikes he bought for his sons on the app and charges about $40/day or $200/week. (The sons are grown and flown, and the bikes were gathering dust in his garage.) Of that, Spinlister takes 17.5% and handles all financial transactions, verifying both the advertiser and renter via cell phone and credit card. Optional damage and theft insurance is available for the renter.
Share your garden
Okay, renting expensive items like RVs will bring in the money, but what if all you have is empty space? If there is grass and dirt underneath that empty space, you can rent that out too.
Shared Earth is a co-operative gardening community that connects green thumbs with landowners who don’t have the time or skills to turn their dirt into a lush garden. The landowner provides the space, water and maybe a few tools and the gardener does all the work. The harvest is then split between the landowner and grower – usually 50/50 – but everything is negotiable.
This could be a great way to meet new people in your community while also getting some fresh air and exercise: two things many of us just can’t get enough of.
Rent out your kitchen for cooking classes
Homeowners who have enviable apartments but don’t necessarily want to rent out their entire home or rooms on Airbnb or others might feel more comfortable showcasing their kitchens instead. With Cozymeal you can do just that. Cozymeal partners run cooking classes and offer private dining experiences — but they lack the actual space to do it all. If you have a world-class kitchen and dining area in your home (lucky you!), you can sign up to rent your venue for use by professional chefs and their clientele.
Let your pool earn money
Have you seen how expensive chlorine is these days? Help cover the costs by renting out your pool. You can rent it by the hour to guests who just want to cool off on a hot summer day or for larger parties and events. You set the days and hours your pool is available, and you can also control how many people can use it at the same time.
The best part? You don’t even have to be home when Swimply members are using your pool. They handle all the logistics and you just sit back, relax and wait for the money to come in. Some pools rent for over $100 an hour! If your pool is in good shape, it’s just waiting to make you some serious money. Swimply has also recently expanded to other areas, including athletic fields, large backyards, gyms and music studios, to “allow more people with great spaces to share them with others.”
Let your garden go to the dogs
Some dog owners live in apartments or condos, or have dogs that don’t do well at dog parks but still need off-leash time. Others have small escape artists that need to be in a fenced area. This is where Sniffspot comes into play. You rent out your garden by the hour and you get the space all to yourself. The website says owners can make up to $1,500 a month by renting out their yards.
Check the fine print first
If you have stuff or space that you’re not using, why not put it to use and make some extra money? With just a little effort, you can worry less about your finances and have a little fun in the process. Who knows, you might even become an entrepreneur!
But before you sign up with any of these services, be sure to read up on their liability policies and what insurance they offer on your behalf. For example, Swimply offers $1 million in liability insurance and $10,000 in property damage coverage, but you should check with your insurance company as well. After all, in the event of damage, you do not want to find out afterwards that you forfeited insurance cover by renting out your property without them finding out about it.