When you were growing up, you’ve probably heard from your mom and dad that you should always share because it is a good thing to do.
But did you know that today, sharing can also make you a little extra money?
In the last couple of years a new kind of industry, or ecosystem, has grown around the concept of “sharing” known a the sharing economy.
It basically boils down to people sharing or renting stuff they already have with other people for extra cash. These days, you can make money renting your empty room, car, couch, even your driveway.
While this tends to make the giants of the travel and hospitality industry mad, the sharing economy has been gaining popularity rapidly.
You’ve probably heard the buzzwords, “peer-to-peer business”, “sharing economy”, “collaborative commerce” and similar ones They all refer to the exact same thing. At the end of the day, this is a new industry where platforms, websites and apps make it easy for owners to connect people looking to rent stuff directly, easily and quickly.
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Have something that you hardly use? Rent it out for cheap to someone who really needs it.
It’s a great way to earn some extra cash.
What will I learn?
What Can I Rent out for Cash?
Well, pretty much anything!
Of course, there are legalities around some items and you have to do the leg work to ensure you don’t up losing things.
That said, if you are looking to make a little extra cash renting out your unused stuff instead of selling them, there are plenty of websites and apps that make it easy and safe for you to rent out various stuff for cash.
Here are some of them.
1. Rent a Room in Your House
If you have an extra room, or even just a couch, in your house then you can charge people a couple of bucks to rent it out.
Budget travelers, backpackers, and those who don’t like staying at hotels often go for this option, and it’s a win-win for both of you. They get to spend the night in an inexpensive place that is homier than a hotel room, and you earn money from something that you normally wouldn’t.
While these sites normally take a fee for each transaction, at least, you don’t have to worry about getting payment from the renter.
Sites to use:
2. Make Money Renting out Your Car
I have talked about renting your car for cash, before. If you hardly use your car, you can make serious coin by renting it out for a day.
Take a look at sites listed below if you’re interested in making money from your ride.
Some people prefer this over Avis, Hertz, or other car rental services because the prices are competitive, and maybe even cheaper. Even better, by booking from these websites, they do not have to waste their time in line at the airport.
If you want to make money by renting out your car, but you don’t really trust strangers to take good care of it, go for Uber, Sidecar, or Lyft. These are private car services where users request you to come to their location so you can drive them to their chosen destination.
These apps automatically charge the far to the user, which means all you have to really do is drive. All you have to do is to make sure that the driving experience is as pleasant as possible because the passenger gets to rate you. But worry not, because you get to rate them, too.
Sites to use:
3. Lease Your Bike, Surfboard, or Snowboard
Let’s face it; as much as you would like to spend more time on your snowboard, skis, or bike, you really don’t always have time for it.
Or sometimes, in your excitement learning about a new hobby, you purchase expensive gear that you never really get to use.
One way to make money from this is through Spinlister.
Here, you can put up your gear for lease, and it won’t cost you a thing. Even better, the company can also offer insurance coverage for theft and damage at $1,000 for skis and snowboards, while bicycles can reach up to $5,000 coverage.
You can rent out these rides at a minimum of $5 per day.
While Spinlister is available in over 50 countries in the world, keep in mind that they are not available in some states.
Sites to use:
4. Rent out/Lend Your Money
Everyone knows that it’s you can earn serious dough by lending money, but for the inexperienced, this can be hard to do. With the LendingClub, you can open an investment account where you can extend a personal loan to borrowers up to $35,000.
Businesses, on the other hand, can apply for a maximum loan of $100,000. The interest rate charged for the loan depends on the person’s credit rating, which means the interest can be anywhere from 6% to 30%.
Other companies that have a similar business model are UpStart, and Prosper.
Sites to use:
5. Turn Your Unused Office Space into Cash
People who make their living flying around the world often need a place where they can plop their laptop for the day and get to work. If you have space in your office that you do not use, check out Desktime.
Not only can you list your table or your space, but you can also rent one out if you’re in another city.
Whether you choose to lease it out by the day or by the month, this is a great way to earn money on something that’s just sitting there.
Another fantastic website is ShareDesk that allows you to rent out your space on an hourly, daily, or monthly basis.
42floors, on the other hand, carries commercial space and office spaces in select states in America.
Sites to use:
6. Love Someone’s Dog for a Day
If you’re a dog lover, then you know that going out of town can be difficult, especially when you have to send your dogs off to an expensive pet hotel or leave them in a kennel.
To ease the stress, you can find fellow dog lovers within your area who can take care of your pets for you for a minimum of $25 per night. You can get these dog sitters to come to your house, or you can bring the dogs to them.
Check out DogVacay or Rover for this. After which, you can return the favor and list yourself as a dog sitter as well. Enjoy the company of a furry friend, and earn some money hanging out with these loveable creatures.
Sites to use:
- Rover (formerly DogVacay)
7. Rent out Your Dinner
Everyone loves a homecooked meal, and if you’re an amateur cook this could be your chance to show your stuff.
On Feastly, you can open up your dining room table to strangers and earn some money. Just post what you’ll be cooking, when you plan to host it, and how much, and see if anyone bites. Cooks on this website range from the professionally-trained to those who just love feeding people their grandmother’s recipes.
While it is only available in select states like San Francisco, New York, and Washington D.C., they plan on expanding through the years.
Sites to use:
- ChefsFeed (part of Feastly)
8. Rent out Your Time & Expertise
There are some things that people completely hate doing but you may absolutely enjoy. Or, at the very least, something that you can stomach for a while.
Whether you’re paying off your loan or saving up for something, doing random chores for people is a great way to earn extra money.
And thankfully, there are many apps that let you earn money by doing small tasks. For instance, you can grocery shop for people by setting up an Instacart account.
If you’re really willing to get your hands dirty, you can also check out Zaarly where you can take a look at the long list of things that you can do for other people. Think household chores, minor house repairs, and running errands.
Zaarly, however, is only available in San Francisco and Kansas City.
TaskRabbit, on the other hand, is available in over 18 cities in the United States, and also in London. Aside from just chores, however, TaskRabbit also has virtual jobs ranging from simple web design, writing articles, and Photoshop work, among others.
Sites/Apps to use:
9. Rent Equipment
Most of us have either borrowed or have lent a tool or two to/from our neighbors and friends. But did you you know you can actually make a few bucks by renting out your tools and equipments?
Big national chains like The Home Depot make a lot of money renting out all kinds of tools. In fact, when I was getting started with my Flooring business back in 2003-2004, I used to rent floor sanders from our local Home Depot all the time.
But now anyone can do this. There are a few sites that allow you to safely and easily rent out your tools to other people in your area. It’s an excellent way to make some cash. Heck, with some tools, you may even be able to make up the purchase price with a few rent outs.
Sites to use:
10. Rent out a Sit in Your Car
No, I am not joking! This is as real as it gets, and I have actually written a post about it.
It is basically the same as carpooling, but unlike carpooling where you usually share the ride with friends or coworkers, you will be sharing your ride with a total stranger who may be working in the same area as you are.
That said, the only site that I know of that matches drivers and those needing a ride, claims that they do a vigorous background check on every passenger. You can look up the profiles of passengers and choose who you want to share your ride with.
Though this was originally intended as a service for universities, it is now gaining traction in other places.
Site to use:
I don’t know about you, but I personally like this “Sharing Economy”. It’s a win win for both parties involved.
What about you, what do you think of it?
Have you ever made extra money renting out your stuff?
Would you do it if the opportunity was available?
Share your thoughts