Your home might be the biggest single investment of your life. The average U.S. home price across all housing types is currently just under $300,000 each. And that doesn’t even include the maintenance, taxes, upgrades, insurance, and other myriad costs that go into keeping a roof over our heads.
Considering the amount of money you put out to keep a home in peak condition, it feels like there need to be some solid ways to reverse that flow and keep money funneling into your house as well.
There are lots of ways to make money off a house, but few are easier than Neighbor. In fact, Neighbor is all about turning all those spaces in a house or on a property that aren’t being used into some very reliable passive income.
It’s a win-win – you identify unused areas of your home from a garage or shed to a closet, an attic, a spare bedroom, or even a driveway or a side-yard. Meanwhile, your neighbors get the convenience of renting your open space to store their valuables in a safe, nearby location.
As the top platform for renting out unused space on the web, Neighbor makes it easy to open a profile, show off your space with a description and photos, set your own terms and conditions, then go live and see who wants to rent your area.
Neighbor automates the entire process of renting, streamlining interested applications to be your new tenant, while offering you all the tools you need to ask questions of those applicants about what they intend to keep in your space.
Pick your tenant, set a move-in date and work out all the logistics beforehand, even times when they can get access to their belongings, all without the need for keys or codes or other security measures.
In fact, you retain control of the space at all times. Neighbor even offers up to $1 million in insurance protection should items cause any permanent damage. And if the tenant’s stuff is somehow damaged, they’re protected by Neighbor for up to $25,000 as well so everyone can sleep easy. Considering a private home is about six times more secure than renting from a storage facility, the advantages for both renter and rentee are clear.
Speaking of advantages, you don’t even have to turn into debt collectors if the rent check is late. Neighbor automatically accepts tenant rent through their platform, pushes payment into your account, and will even cover the rent check themselves if a tenant tries to skip out on paying.
You might think a corner of a room or a closet may not produce huge profits, but happy Neighbor users can confirm they’re making hundreds, even thousands of dollars a year on their empty space.
Right now, you can head to the Neighbor website, set up a profile, and list your space, all for free. Then see how much you could make renting out your open area. Make money from your empty space today with Neighbor!