Have you taken a hard look at all of your possessions and considered ways to use those items to bring in some money? If some of your belongings are collecting dust in the garage or otherwise going unused, then it might be time to take advantage of the booming “sharing” economy, which will let you save and earn money in new ways. Consider these four ways to rent out your items:
1. Rent out your car through FlightCar and also avoid airport parking fees.
Travelers are familiar with the dilemma of finding a ride to the airport or racking up parking lot fees. Many opt to park at the airport and thousands of cars are left in long-term parking every day while others pay to rent out vehicles on their trips. When FlightCar founders Kevin Petrovic and Rujul Zaparde realized this massive inefficiency, they decided to launch a business that made use of outbound travelers’ unused cars.
FlightCar provides an online marketplace where travelers can make their cars available for rental when they go out of town. In case you are leery of letting a stranger drive your car, rest assured that FlightCar pre- screens every renter and insures each rental up to $1 million. Approved members renting through FlightCar get the lowest rental rates guaranteed, with free insurance, and free extras such as GPS and car seats. Online registration, drop-off and pick-up can be easily scheduled in just a few clicks.
Petrovic estimates that FlightCar has saved its members nearly $1 million in parking costs and more than half a million in rental costs since its inception less than two years ago. That’s great motivation to try out their service, particularly for frequent flyers.
2. Rent out your parking space with JustPark.
You may be surprised to discover there is a thriving market for parking space rentals on JustPark.com. High demand spaces tend to be near stadiums, airports, train stations and central spots in towns and cities. Space rental is popular both among shoppers and day trip travelers who want to pre-book an affordable space in lieu of shelling out money to a parking garage. Many commuters have also used JustPark to find affordable parking near their offices.
In case you are wondering what your parking space is worth, property owners can use the JustPark pricing tool to determine a recommended price, based on your area and demand. For example, the average spot in Washington is rented out at $12.50 per day, though the rate is higher near points of interest. In Manhattan, the average spot is rented out at $25 per day, and $15 per day in Brooklyn.
Whether you have a vacant spot for part of a day, for example, during work hours, or for extended periods of time while traveling, you may be able to earn money off of it.
3. Rent out your bike, skis or snowboard with Spinlister.
Since you can’t be on the bike trails or slopes all the time, why not rent out your unused gear to other sport enthusiasts? Spinlister.com allows you to rent out your bike, skis or snowboard instead of letting them sit unused in your garage or shed. Spinlister collects payment from the renter and sends out a check to the lister, or sends payment via Paypal, every two weeks.
4. Rent out almost everything else with Goodshuffle.
Goodshuffle.com is an online marketplace that allows you to list and rent out items that are probably collecting dust in your garage. The site currently covers the Washington metropolitan area with plans to expand nationally in the future.
Goodshuffle co- founders Andrew Garcia and Erik Dreyer were inspired to create the site when Garcia was looking to rent out some DJ equipment from a former business venture and was concerned about the risk of renting high-value equipment to complete strangers. The site features a patented check-in and check-out system that helps keep track of an item’s location, adding an important layer of security to the renter.
Popular rental items on Goodshuffle can shift with the seasons. Camping gear was in high demand this summer as well as tables, canopy tents and chair packages for special events like birthdays, BBQs and festivals. Bike toolkits, kitchen gadgets, garage tools, vacuum cleaners, pressure washers, speakers and sound equipment are frequently listed. During the winter months, snow removal gear is popular as are luggage and air mattresses for those traveling over the holidays.
As you start to take inventory of what rentable items you own, think outside the box when surveying your goods. Consider renting out your car, parking space, bike or camping gear to earn a little extra money. With a little effort, the sharing economy can help you build up your savings.
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