Business

Five ways to make extra money renting out unused space at home

With the cost of living rising to a 30-year high, most of us find it difficult to maintain our lifestyles. This is how your home can come to your rescue

Turn any unused space in your home into profitable passive income
Turn any unused space in your home into profitable passive income

With energy prices for millions of UK households set to increase from April 1 This year, life is about to get much more expensive with millions of Brits.

While there’s not much we can do to prevent prices from skyrocketing, we can certainly do the housework to generate extra income.

Whether you own or rent out, your home can become your biggest source of passive income. From renting out rooms to storing other people’s belongings, there’s a market for so much today, with the potential to offset some of the growing cost of living.

StashbeeThe UK’s leading peer-to-peer marketplace for storage space has come up with some tips and tricks on how Britons can earn a passive income from the free space in their homes.

Basement & attic







Renting out your unused space can make you hundreds or even thousands of pounds over a period of time.
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While not common in newly built homes, basements have great income potential. Renting out your basement for storage or for parties, photo sessions, or as a dance or art studio is a great way to make your home work for you.

Through Stashbee, the average basement rental cost is £0.91 per square foot, with an average income potential of £181 per month.

Similarly, providing substantial space and high value, the potential for monetization from loft rentals can be extremely lucrative. The average price per square foot for a loft is £2.70, meaning Britons can earn £891 per month on average from renting loft space.

Extra room







If you have a spare room that you no longer use, a guest house is a good way to earn a reliable income from it.
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With around 18.6 million rooms available in the UK, renting out these spaces can provide passive income for a larger number of people. With an average cost of £0.73 per square foot, Britons can earn £83 a month on average renting out their empty rooms as storage space.

Garage







Britons can earn an average of £147 a month renting out their car park
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Stashbee)

According to the RAC, there are 5.7 million idle garages in the UK. With an average cost of £0.94 per square foot, Britons can earn an average of £147 per month through renting out their car park.

Fallen house







Warehouses provide secure storage space for people who may not have free space in their homes
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Stashbee)

A staple of the UK garden, barns provide secure storage space for those who may not have free space in their homes. The value of renting a warehouse through Stashbee also offers great earning potential for Britons, with an average income of £1,455 a month.

How the energy bill crisis affects you

Parking & Driveways







Make good use of your unused parking space by renting
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With thousands of parking spaces and driveways idle across the UK, Britons have made money renting out their spaces to those looking for cheaper alternatives to parking subscriptions. car annually and earn an average of £213 per month.

Stashbee co-founder and CEO Anthony Paine commented: “Physical space is a fundamentally scarce resource – there is a limited amount on planet earth.

“Urbanisation, globalization, population growth, rising cost of living and property price inflation are just some of the factors that make it difficult for people to find free space at accessible prices, where they need it and with the accessibility and security features they require .

“Stashbee solves this problem by providing a simple, smart, and sustainable way for people to store their stuff on-site, while empowering people with the space to be micro-entrepreneurs. .”

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https://www.mirror.co.uk/money/five-ways-make-extra-cash-26274331 Five ways to make extra money renting out unused space at home

Fry Electronics Team

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