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How to Make Money By Renting Out Unused Spaces In Your Home

I make money on some of the products and services I mention on Thinking Frugal through affiliate relationships. I never endorse a product or service unless I believe it will benefit my readers.

Are you looking for ways to make extra money? Do you own a home or property? If so, this post is for you.

Did you know that your home is one of your biggest assets? It’s also your most significant expense. So why not turn your largest expense into passive income?

Renting out unoccupied space in your home or on your property can be surprisingly simple if you know how to do it.

Whether you have an extra room, a garage, or even just some extra space in your driveway, there are people who will pay for the privilege of using it. Why let unoccupied space in your home go to waste?

In this blog post, I’ll discuss tips for getting started and the different ways you can rent out your unused spaces and make some extra money. So read on for tips on how to get started.

Kinds of Spaces You Can Rent Out

Many different kinds of spaces can be rented out in your home or on your property. These include:

  • A large patio area for outdoor events.
  • Spare bedrooms for out-of-town travelers.
  • Part of a large garage for storage.
  • Property for campers to camp on.
  • An unused barn for weddings or family reunions.
  • A detached building, like a pool house, for a business or office area.
  • An extra lot for RV storage.
  • Acreage for pet owners to walk their dogs.

Identify Potential Areas to Rent Out in Your Home or Property 

The first step in turning your home into a moneymaking opportunity is to identify the areas that you can rent out, such as an extra room, a garage or storage space, or even just some extra space in your driveway. 

Make sure that these spaces are safe and secure for renters, and be sure to factor in any extra costs, such as utilities and insurance, that might be required when renting out a space.

Research Local Regulations for Renting Out Space 

If you’re considering renting out any space in your home or on your property, it’s important to research and understand your area’s local regulations before proceeding. Different municipalities, counties, and states have different laws regarding rental properties.

Research the Local Market and Set Prices 

Now it’s time to look into the local market and set prices. Look at what other people are charging for similar spaces in your area so that you can price yours competitively. 

Create a Rental Agreement Outlining Terms and Conditions 

Your rental agreement is a document that should outline all the terms and conditions of renting out your space, such as price, length of stay, security deposit amounts, etc. 

Market Your Available Spaces 

Now that you’re ready to start renting out your spaces, it is time to market them. You can use platforms such as Craigslist or Airbnb to list your space and attract renters. Ensure that your ad clearly outlines all the details and requirements for renting out your space, and also include some high-quality photos. 

You can also use social media platforms to spread the word and let people know you have space available.  

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Empty room with boxes

15 Sites for Renting Out Your Home and Property

Plenty of options are available if you’re interested in renting out unused spaces; however, here are the 15 best sites. 

1) Airbnb 

Airbnb is an online platform for booking and renting lodging. It connects people with space to rent out with those looking for a place to stay. 

With Airbnb, you can rent out an extra room or your entire home.

2) Hipcamp

Hipcamp is a booking platform for camping trips. It helps users find and book unique camping experiences, including campsites, RV parks, cabins, treehouses, and other outdoor locations across the United States.

Hipcamp allows you to rent out your unique yard or property to campers looking for memorable camping experiences.

3) Home Camper

Home Camper is a revolutionary platform that connects property owners with campers and outdoor enthusiasts. It offers an easy-to-use search engine, detailed reviews and ratings, and helpful travel tips for those looking for the perfect camping experience. 

With Home Camper, you can rent your land, property, or backyard in a hassle-free manner and generate some extra cash.

4) Home Studio List

Home Studio List is an online resource to help people find creative workspaces. 

With Home Studio, you can rent out rooms in your styled home by the hour to creatives such as photographers. 

5) Neighbor

Neighbor is an app that allows people to rent out their parking spaces for extra cash. It connects drivers and homeowners with available parking spots, helping to ensure everyone gets the most out of their space. 

Homeowners can make money by renting out their parking space or driveways and have complete control over who uses it.

All payments processed via Neighbor are safe and secure, giving both parties peace of mind when making transactions.

6) Peerspace

Peerspace is an online marketplace that helps people find and book unique venues for any kind of event. 

If you own a unique space in or around your home, such as a large loft or garden area, you can easily rent it out on Peerspace.

7) Shared Earth

You can make extra money by renting out your yard on Shared Earth. It’s a platform that allows users to list their yards or garden areas to gardeners. 

You can set your own rates, and it takes care of the details without any hassle. There is no startup cost, just the time you invest in creating your listing and responding to inquiries. 

With Shared Earth, you have the potential to make a steady passive income from simply renting out part of your yard.

8) Sniffspot

Sniffspot is an online platform that allows landowners to rent their property for dog owners to bring their dogs to play. 

Dog owners can book timeslots on the landowner’s property to give their pup plenty of space to roam around and enjoy themselves while staying within the property’s boundaries. 

If you have some property, you can earn up to $3000 per month, allowing dog owners to use it.

9) Splacer

Splacer is a platform that allows you to rent out your space for special events and experiences. You can make extra money by listing your space on Splacer, setting the price per hour (or day), and creating availability calendars. 

Splacer takes care of booking, payments, customer service, and more. So all you have to do is sit back, relax, and wait for the cash to come in.

10) Store at my House 

Store at My House is an online marketplace that connects people who want to rent out a portion of their homes to potential renters looking for storage space. 

It’s a great way to make passive income while letting others store things in your unused space.

You can set your own rates, set availability periods, and decide which items are acceptable for storage in your space. Once renters start booking your space, you will receive payments directly through the platform.

11) Swimply

Swimply is an online platform that connects private pool owners with those looking to rent out their pools. 

If you own a pool, renting it out during peak season is a great way to make extra money. It’s free to create a listing on Swimply, and you can set your own rental price and availability.

12) Travel Nurse Housing

Travel Nurse Housing is an online platform that connects nurses with housing and other services while they’re away from home. 

It also allows homeowners to make extra money as a host for nurses looking for short-term accommodation. Hosts can set the nightly rate for the space and determine how long it’s available. 

13) Tripadvisor Rentals

Tripadvisor Rentals is an online platform for booking vacation rentals, such as apartments and villas. With Tripadvisor Rentals, you can make extra money by renting out your property to travelers from around the world. 

All you need to do is set up a profile for your property on the platform, provide detailed information about it (including photos), choose the best rate for it, and start taking bookings from interested travelers. 

14) VRBO

VRBO (Vacation Rental By Owner) is an online platform allowing homeowners to rent their property to travelers. It is a great way to make additional income while also providing travelers with attractive vacation rental options. 

VRBO is a great way to make money if you have a guest house or garage apartment on your property that you want to rent out.

15) YardYum

YardYum is a platform allowing homeowners to rent their lawns or property as a space for gardeners, local farmers, and other agricultural entrepreneurs. 

It’s a great way to make extra money from your home. Homeowners have access to an additional source of income, and gardeners/farmers have access to land they wouldn’t otherwise be able to use.

Final Thoughts

Renting out your home or property can be a great way to make extra money and have your most considerable expense work for you. 

With some dedication and a little work, you could soon find yourself making money by renting out parts of your own home.  

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