5 Ways to Make Extra Money with Unused Space

By Toby Tunwase

Making money from your extra space might be simpler than you think. With available technological tools and neighborhood communities, it is much easier to put your unused space to work. All it takes is an innovative idea and flexibility. Here are 5 ways for you to make some more cash from your extra home space. Check them out:

1. Share your house with a new tenant

Although Airbnb has been a great success, not everyone will be willing to rent out their house to vacationers. If this is you, another way you can make money is to offer up your extra bedroom to a new tenant for a suitable fee. You get to enjoy the company of a housemate and get paid at the same time.

2. Start a storage business

Maybe not large scale, but you can use your empty bedroom or extra garage space as a store for properties and luggage. Who knows? Someone in your neighborhood just might be in need of a good place to store a boat, holiday decors or other equipment.

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3. Share your workspace

A very innovative way to utilize your unused space is to share it with people in need of a temporal workspace. You can make extra cash from renting out your garage or workspace for music band rehearsals, orweekend mechanics.

4. Start a commercial parking lot

If you live a busy area, this is one of the best ways you can commercialize your outdoor space. It is as simple as putting up a banner in front of your yard, or pasting a flyer in strategic business areas.

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5. Make your home a film location

Most producers in big cities like L.A., New York, Chicago, and Toronto are often in search of an authentic-looking apartment. You can offer up your house as a potential location.

Have any other ideas? Share with us!