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Rent Out Things For Money

We’re now living in a gig economy and it appears you can do anything to make some money on the side, such as to rent out things. Other than saving money, earning extra income from renting your things out can also help pay off any debts faster.

Wondering what things can be rented? Think about your unused car sitting in your driveway. You could make $100 from it while you’re at work. Same goes for your other valuable things.

Check this list of what you can rent out to make extra money.

Unused space in your house

Have a spare room? Whether it’s your bedroom or backyard, people will pay for extra space. You’ll also get to meet interesting people you would never come into contact with otherwise.

  • Bedroom — Airbnb and Flatmate Finders are some of the websites that can help sublet your unused space, either for short or long term use.
  • Kitchen — This may not yet catch on in Australia, however, the idea is becoming popular. Soon, you may be able to rent out your kitchen to entrepreneurs such as cooks or bakers.
  • Storage — You can undercut the cost of a storage space and still make pocket money for yourself.
  • Yard — Rent out your yard to veggie gardeners, or even for campers, in which you can also lease tents.
  • Parking — If you live in a flat and rarely use your parking space, let your neighbours know they can rent it from you. And if you’re near a train station, you can rent your driveway to commuters.
  • Land — If you own a land, you can agist your property to horse owners through Agistment Finder.

Vehicle

After the extra space in your house, a vehicle is another common thing you can rent out. Since many people cannot afford to buy their own, hiring a vehicle makes more sense.

  • Drive with Uber — A popular option, driving for Uber can be profitable and turn into a full-time job. You also have the option to drive only on days you’re comfortable with, such as Fridays or Saturday nights. However, it costs a bit more to get set up. Check here for a few requirements you need to drive with Uber.
  • List your car — Consider listing your unused car on Car Next Door. People can borrow your car for the day or by the hour.
  • Advertise on your car — If you don’t like someone else driving your car, turn it into an advertising space. You can do just your side door or back window or a full car wrap. Depending on campaign format and length, you could earn $200-$2,100 per campaign.
  • Campervan, caravan or motorhome — You could earn hundreds of dollars a week by signing up to Camplify.
  • Boat — If you own a boat, you’re most likely paying it off. So if you aren’t using it much, might as well try to rent it out to pay for itself. Try family and friends first if you aren’t comfortable with strangers on your boat. Otherwise, try boat rental marketplaces such as BookMyBoat.

Rent out your stuff

This is perfect if you don’t own big assets. You can rent out stuff that people use regularly but may not want to buy. Try Facebook Marketplace or gumtree.

Here are some stuff you can rent out for money:

  • Clothes
  • Bicycle
  • Musical instruments
  • Sports equipment
  • Camping equipment
  • Surfboard
  • Snowboard
  • Sewing machine

Tools

Tools can be expensive to purchase and maintain especially if you wouldn’t use it often. Bigger tools can potentially make more money if you rent it out to tradies. ToolMates Hire is one of the online portals that can help to make this process easier. Tools listed may include:

  • Hand tools
  • Chainsaws
  • Pressure cleaners
  • Skips
  • Tippers and lifters
  • Trucks
  • Agricultural machinery

Rent out money

“Peer-to-peer lending” is a term you may need to be familiar with. And this isn’t like loaning a friend $50. With peer to peer lending, you can loan your money to a borrower at a set interest rate.

If you liked our “Rent Out Things For Money” and find it useful, check our blogs regularly for more information on how to get out of debt and updates on the best budgeting apps in Australia.