How to turn the things you own into cash machines.
Did you know Uber is targeting a $120 billion IPO next year and Airbnb did over $3 billion in revenue last year?
We’ve all heard of these behemoths but did you know you can make thousands of dollars every year by renting out your extra space, cars, boats and sporting equipment?
Across the globe, peer-to-peer sharing has exploded over the past five years. Worth $15 billion in 2014, its projected to be worth $335 billion in 2025.
Here’s a short list of services that can make use of those lazy assets.
Don’t have stuff to rent, why not sign up as user?
This post may contain affiliate links. Please read my disclaimer for more info.
Rent Out Your Car
Have a car sitting unused in your driveway- why not rent it out? Unlike Uber, you don’t have to be in the driver’s seat to get paid. Turo is “like Airbnb, but for real people’s cars” and operates in over 56 countries. You get paid 65-85% of the trip price depending on your protection package.
I couldn’t believe that Turo even has Ferraris and Lamborghinis available for rent! Here’s one guy’s take on how he makes over $900 a month.
Other players include:
-
Get Around – United States
-
Drive My Car – Australia
-
Kuso – Canada
-
Hiya Car – United Kingdom
Rent Out Your Boat
With the average boat only used for 8% of the year, free your boat from the dock and pocket some extra cash. Get My Boat has over 130,000 boats available in 184 countries. Rent out your boat and you keep up to 93% of the rental fee.
Some boats are rented by the hour, others are by per person. Checkout these cool Florida vessels that rent for over $2,000 a night.
Other providers include Boat Setter, Sam Boat and Click&Boat.
Rent Out Your Campervan or RV
Let someone else hit the great outdoors when you’re not. Outdoorsy lets caravan, campervan and motorhome owners make up to $30,000 a year. With insurance coverage up to $1 million, you choose the dates your vehicle is available.
See how CamperVanGuy accidentally created his RV business.
Competitors include Camptoo– available in the US, UK and Australia and Yescapa– Europe’s largest RV and campervan marketplace.
Rent Out Your Outdoor and Sports Gear
Peer to peer gear! Instead of being stuck in storage, let your sports equipment do what it was made for.
Quipmo rents our paddle boards, bikes, water skis, camping equipment and backpacks and more- all for a fraction of the cost of purchase. Owners keep 80% of the rental fees.
Another player is Spinlister which also lists bike, surf and snow gear.
Rent Out Your Storage Space
Clear out the cobwebs and turn that space under the staircase into dollars. Neighbor lets you rent out your storage space and keep 97% of the fees. Would you clean out your closet for $97 a year? How about your basement for $2,340?
In the UK there’s Store Mates, in Australia there’s Spacer and Canada has Stashii.
Rent Out Your Parking Space
Got a space in your driveway or garage that is going spare? Yup, you can rent that too.
Pavemint has driveways in the US, Just Park the UK, Park Hound in Australia and Rover Parking in Canada.
Other Possessions You Can Rent Out For Cash
Office space: Rubber Desk lists desks in shared offices and co-working spaces.
Yard Space: Gamping lets campers explore the great outdoors on private land.
Gardening Plots: Yard Yum lets gardeners toil your land and pay you in cash or food!
Clothing: rent out your clothes on Humm simply using their app.
Pet space: make some money pet sitting through Rover or Pet Vacay.
So there you have it- a quick list of hidden money making machines that you’ve already paid for. From vehicles to sports gear and empty space…what will they think of next?
Got a peer to peer ideas of your own? Share it in the comments below.
