There are two ways to accomplish this. The first is to place an ad in your local paper and the second way is to join an association that matches the owner to the renter. Here are some ideas, some of which you probably didn’t think of, to get you started.
- People who don’t use their electric BBQs in Australia often rent them out to neighbors, rental companies, or restaurants. This is especially true during the wedding season or around holidays. So, if your barbeque is sitting in your backyard idly, waiting to be used, then talk to some local caterers or restaurants about them renting them for a time when you aren’t going to use them. If you rent your top-of-the-line electric barbeque, it will pay for itself in no time.
- Vending machines in Australia are another way to make extra cash. If you purchase a vending machine, then you can it rent out to others. A college student or a retired person may like the flexibility of the varying days and hours.
- You own an expensive boat that sits idly in its mooring or in your backyard for days on end while you work. Have the boat start making money for you. Rent it out to vacationers on a daily or weekly basis. Fishermen would love to rent the boat for a day or weekend so that they can catch “that really big one.” If you know of a company that enjoys taking salespeople or corporate executives out for an adventure, they might be willing to rent the boat as a perk. The company may even rent it to show appreciation to employees for a job well done. There are a few websites that can assist you with insurance and booking the clients who you want to rent your boat.
- Those power tools that “you just had to have” to finish the job correctly are now sitting in your basement barely ever being used. You used them to finish your major project and now they are just gathering dust. Time to have these tools start earning you money. Place a sign in the Laundromat, school, or any public bulletin board. Your neighbors might be looking into a renovation project but the cost of buying tools along with the supplies can be overwhelming. They might be willing to pay for rent that power saw, rug shampooer, or power drill that might make their project more cost-effective. You’re helping out another homeowner and improving the look of the neighborhood.
- The rental of your parking space or driveway is an ideal way of making some spare cash. Most townhouses or apartment buildings have a designated space for each occupant. That space costs you either a monthly or yearly fee of up to 100 thousand dollars. What does your space do when you take your car to work or go away for the weekend? It sits there empty. You can rent out the space during the week to a commuter who works nearby or to someone who doesn’t want to be constantly getting up and throwing money into a meter. If your driveway is located near a sports arena or some other popular attraction, then you can fit 2-4 cars in your driveway. That’s extra money for just sitting there.
- Of course, you can always rent your house or vacation home. If your home is close to beaches, mountains or famous attractions now might be the time to rent it out when you are not using it. If you join an organization, they will advertise it on their websites, collect the money and then pay you. There is usually a service fee involved but it is well worth researching the matter than to have your home not being used.
- Another popular trend is to rent out your car. You drive to work where your car sits in the parking lot. Imagine renting it out to someone who has errands to do and then they return it to its spot. If you are planning a trip, you can rent your car and have it returned to the airport when you arrive back home. You are making money while having fun.
Before you rent anything, check with your insurance companies (home, car) to ensure that your coverage will cover any damage done. If you are renting to a neighbor or relative, ask around for people’s opinion of that person. Have a contract written up that spells everything that is included and the procedures for emergencies. Always get a deposit on anything that you rent. That money should be held in a separate account in case of cancellations. If you join an association that rents out your house or cars, carefully read your contract and the fees that are associated with it. Research the company and go through the comments that other users have posted. Protect yourself and your possessions above all else.
In our current economy, prices have skyrocketed and things that we need or would like are out of our price range. That is where the concept of renting has come back into vogue. If you need something for a day such as a power tool, barbeque, dishes, or even jewelry, then rent it for the allotted time. There is nothing that you can think of that can’t be rented. You have the item that you need and don’t have to give up your valuable free time. By not working a part-time job, you now have time to spend with your family and friends or even go on that vacation you’ve always wanted to. Enjoy the best of both worlds!