Rent part of your home as an independent dependance
Looking at your property as an investment can help you turn it into a great and easy opportunity to earn an extra income.
Perhaps you have just done a refurbishment, built a new house or you are leaving for a long holiday. There are many easy ways for everyone to earn some money with your house. You do not need to wait until you will sell it to get that extra cash from your investment. You can start right now as you are to make money with your home.
How to monetise your property and earn an extra income right away? Can anyone do it? Let's discover how in this article.
Renting part of your house can be a smart solution to start monetising your home. If you have the opportunity to build a new house, plan a part of it like a fully independent dependance with a kitchen, living area, bedroom, bathroom and its own entrance. If you do not have a new built home it is still possible, often homeowners refurbish their basement and rent it out. You can also use your garage or a detached tool house, if you have it, or your pool house. Perhaps, you may want to contact an architect if you need to build extra space or an interior architect if you need just to define and style the dependance to rent out. This will allow your rental to stand out and to attract better tenants.
List your property in one of the many website for renting, such as Airbnb or any other local website in your country. Be very specific and detailed in your description and take very nice pictures during the day with lots of daylight.
Rent your property while on holiday
If you are going away for a long holiday or even just one week, you can rent your whole property on rental properties websites, such as Airbnb. Today this website is the most successful start up in the world, with millions of hosts and travellers around the world. You can always leave a reference to the person you hosted, therefore, check the comments before allowing a stranger into your home. If you cannot provide the key and welcome your guests at their arrival, there are companies that can do this for you. You can include cleaning service in the night fare, which is great.
Start a B&B business
If you have plenty of free rooms in your house, it could be an option to start your own Bed & Breakfast activity. In the UK, it is very common that couples or families escape to the countryside from big cities to start this type of business and quit their usual job. Being able to rent out several rooms in your house nightly or even weekly can be a lot more lucrative than renting by the month.
Rent your garage for storage space
If you are not so enthusiastic at the idea of becoming landlord or host, perhaps you can consider instead to rent storage space in your garage. With so many people living in small city flat with a constant storage problem, it can be a lucrative investment to make money with your property. Even people that have a motorcycle or have a professional mountain bike may not have space to store them.
Like in rented properties, take very good pictures of your garage and highlight any features, such as heating if provided, that will make you stand out in the market.
Become a green marketer
For those lucky enough to have garden space, starting a veggie garden and become an organic green marketer could be a lovely solution. Grow fresh vegetables and sell them to local organic markets for fruits and vegetables directly from the garden (so called 0 km market).
If you are not so keen in growing your own veggie garden, you can even rent your garden and let other people cultivate their own vegetables and fruits. To demand a better fee, check before you start, what conditions veggie and fruits need to grow in your country and try to provide them to your garden's tenants. If you have space to build a greenhouse, you can extend your business to flowers and culinary herbs cultivation as well.
Start an home-based business
If your profession allows you to become self employed, there are lot of advantages when registering your home as your office. This will have surely a high impact in your personal life with more free time to spend with your family, without that commuting time. There are lots of advantages also in terms of tax reductions and VAT deductible. Check with your Tax authority institution what you can deduct when having your home as your office and start monetise your property right away.
Rent your home for special events
Renting you home for some special events can be another way to earn extra money. If you have a large space, there could be many smaller companies looking for a nice home for their corporate events or even couples could be interest in your property as wedding venue.
These were just some ideas to easily turn your home into a money-making property. Obviously, only you know which situation is more suitable for you and your house. You do not need to wait until you sell your property to earn that investment you long for. With a simple effort, you can start making money with your house or flat right away.
I am an interior designer that can help you to organise your property for one of the above case. We can plan together the floor plan, the decor and eventually pull together a scheme with existing furnitures. You can reach out to me for any question to my email: firstname.lastname@example.org.