For chronic clutter collectors out there, rejoice! Your junk, err - ‘collection’, can actually be a great source of extra cash by renting them out!
Renting is usually and almost exclusively associated with property back in the “good old days.”
Nowadays, it’s not just property you can rent out; even simple items lying around your house can be rented out to other people. Not only will renting household items help you clear out your garage, it will also help you earn a few extra pounds.
So if you have any of the following items around, don’t waste the opportunity to earn extra cash:
My father loves to do DIY projects around the house. As a result, he has a garage full of expensive power tools that were used only once or twice.
I was shocked when I first saw his collection of relatively unused power tools, but it seems that other people are experiencing the same thing too. I read a Good Housekeeping article that power tools bought for household use would only be utilised for a combined time of half an hour during its entire lifetime.
So what can you do to maximise the use of your power tools?
Rather than let your tools gather dust in your garage, it’s better to let other people use them and make a few extra pounds in the process. In fact, it’s not just the owner who’ll benefit from renting power tools; renters also get extra savings from their budget if they borrow or rent specialised tools for their projects.
Do you live in an old mansion with tons of antique silverware and place settings lying around? Or maybe your family handed you over tons of party supplies that are just filling up your garage?
If your answer is yes to either or both of these questions, then maybe, you can consider lending your extra place settings, tables, chairs, silverwares, and other items. It’s pretty expensive to buy these items nowadays, and considering that they will only be used on rare occasions; people are just choosing to rent party supplies rather than buy.
It’s also pretty common to rent ski and snowboard equipment, but more people are starting to lend their surfing, diving, skating, and even hockey equipment too.
Renting out sports equipment is very practical, especially when you only get to use these items a few times every year during vacation. While renting out equipment can help you clear out your closet space and give you extra income, you’re also helping out renters along the way.
Families with kids trying out sports for the time being can benefit from renting because it’ll let their kids learn a sport without having to spend hundreds of pounds on equipment.
I hope you learned a few tidbits from this article. If you want more info on how to make money from property, be sure to check out my previous posts in this series.