Good neighborliness is the cornerstone of our value system. Just ask Mr. Rogers. But it’s not just a polite thing to do – it can also make you money.
Yes – only by being a helpful neighbor and opening your garage or spare bedroom door can you make some serious money. Many neighbors earn an extra $300 per month in passive income.
How? The website and app are called neighbor It connects people who need storage space with people who have extra space – whether it’s a parking space, a backyard shack, or an unused closet.
Earn passive income every month from your extra space
With the neighbor, you can list your extra space, and people in your area will pay you to use it as storage. It’s possible that your neighbors have opened their homes, garages, and unused land to other locals who need an alternative storage solution — and make money through it.
The amount you can earn depends on your location and type of space. Garages in San Francisco are probably worth more than just a parking spot in suburban Cleveland. But no matter where you live, you will still earn more money than if your empty possessions remained empty.
On average, hosts earn around $300 per month, but the neighbor earns earning calculator It can help you see how much you can achieve. For example, a middle school teacher makes nearly $10,000 annually by hosting storage places in her home. A fitness company owner is also on his way to earning $50,000 just by renting out parking spaces while their classes are all virtual.
It’s an easy source of passive income, plus it comes with the peace of mind of a free million dollar host guarantee that protects them from personal liability. Signing up is free and easy – once you verify your identity and space, you’ll be ready to start making money from your empty locker.
how to start
Do you have space to spare? Here’s how to sign up to be a Neighbor host:
- Enter your location and space type in the earnings calculator to see How much can you do.
- Answer a few questions about your space: Is it outdoors? What are the dimensions? How often will tenants have access to it?
- Set your price. The neighbor will recommend a dollar amount based on your location and type of rental, but the price is up to you.
- Verify your identity using a government-issued ID card.
- Add photos of your space and some information about you.
The whole process takes about 10 minutes. If you need help, activation agents can help you navigate the process and improve your listing.
What you need to know before registering
Posting a listing is free, but hosts are responsible for covering the 4.9% processing fee each month they have renters. The neighbor earns money by charging the tenant an additional fee of 5% to 20%, depending on the reservation. Since neighbors’ prices are half the cost of traditional storage, tenants save money because hosts earn money.
Neighbor will also give you tips to make your list stand out and earn more money. For example, having good pictures of your space can help you attract more tenants. Therefore, a special offer can be made for the first month with a 50% discount.
If someone is interested in your space, they will reach out to you. You can talk to them on the website or in the Neighbor app about what they store or even meet them in person before accepting it.
Neighbor helped hosts across the country bring in extra cash each month. So, if you are looking to make extra cash out of your empty basement, Click here for See how much you can do.
Carrie Faber is a staff writer for The Penny Hoarder. Its neighbors are the best – in the literal sense of the word. They were recognized as the best neighborhood in America.