If you have some extra space available in your home or on your land then a great way to create passive income is to rent it out for storage. You don’t need a lot of space, you can use a spare room, loft space or even a garden shed.
There are a couple of sites you can advertise on. Sites such as Stashbee and Storemates are specialist sites for this exact purpose. Or you can use a local advertising site such as gumtree.
You might think why would people want to pay to keep stuff but there are a number of reasons from moving house, being a horder, storing stock etc.
Then there’s the trust issue but it works both ways. They are trusting you to store their goods and you are trusting that they aren’t’ storing anything illegal. Anything which involves you dealing with a person has a small amount of risk attached to it. How do you know the person on eBay will send the goods once you’ve paid? How do you know the house exists that you rent on AirBnB before you arrive? How do you know the person you rent a room to isn’t a psychopath?
You can meet the person before you rent your space to them. Then you can ask why it is they want the space and what they will be storing there. You can also be there when they move their stuff in. If in doubt you can say no.
If you don’t want to store other peoples goods but you do have space such as a spare room then you can rent your property to a tenant. There is a bit more work involved as you have to live with that person but you can make more that way than just renting a room out for storage.
Sites to use
Stashbee – Earn money from your spare space.
Storemates – Low cost, safe storage in your local community.
Gumtree – List your extra space available