Make room for additional cash with these tips and suggestions.
When you begin to think of your home as a means of generating additional income you just might be opening the door to that dream vacation, a much-needed renovation, or the purchase of a new car that makes you feel like you own the road. Check out these money-generating windows of opportunity.
While You’re Away, Let Guests Pay
Look into sites such as Airbnb.com, HomeAway.com, and FlipKey.com if you’re considering renting out your home while you’re away. In most cases, you set the rental amount, available dates, and refund policy. Be sure to check if your municipality has restrictions when it comes to short-term rentals.
And here’s a welcome bonus: The rental income you collect is tax free if you don’t rent out your house for more than 14 days annually.
Income From Incoming Drivers: Rent Out Your Driveway
Tourists looking to make the rounds of local hot spots. Renters without designated parking. Daily commuters relying on too-expensive parking garages or too-scarce parking meters. Consider all of them a potential source of income when you rent out your driveway or privately-owned parking space.
Check out sites such as CurbFlip.com and JustPark.com for creating free listings about a parking spot you’re looking to rent out hourly, daily, or monthly.
As A Pet Sitter, You Stand To Make Some Cash
Apply to be a pet sitter through online-based services such as Rover.com and you could unleash a great source of extra income. Professional certification generally isn’t required but most services expect you’ll be agreeable to a background check. Additional pet sitting opportunities can be found by contacting local pet boarding providers.
Lights, Camera, Action: Turn Your Home Into A Film Set
So your home may not be located in Tinseltown but that doesn’t mean it’s not ready for its close-up. If you think your living space has the stuff that dreams are made of, you may be able to earn extra cash by renting out your place as a film location.
To get started, take a few good pictures of your property and send them to location scouts and film commissions in your area. Fees can range from hundreds to tens of thousands of dollars per day, depending on location, how long the home is used, and what the shoot involves.
Convert Your Backyard Into An Off-Leash Dog Park To Stay On Budget
Offer your property up for use as an off-leash dog park that space-challenged pet owners will love. Sites such as Sniffspot.com include safeguards and procedures such as pet vaccinations verification, flea prevention, insurance against property damage, and even screenings for aggressive dogs (not allowed).
And there’ll be no unwanted mementos of each dog’s visit to puppy playland: Pet owners are responsible for cleaning up after their dogs. (Bow) Wow — that’s great news.