You can make money from your property by doing very little and just relying on market increases. It is not uncommon for home owners in some locations to see their property earn more than they do in wages, simply by increases in the market.
Rent Out A Parking Space.
If you live in a busy city, then you could make extra money by renting out a parking space. You can rent out your space to other commuters who are looking for more competitive pricing than on street parking or council/private owned car parks which can be expensive. The price you can charge is dependent on demand in your locations and where you live, but this is a great way to earn some extra money if your driveway or parking space is sitting vacant all day.
Rent Out a Room to A Tenant
Taking on a tenant and renting out a room is a great way to earn a steady income. This is not for everyone, but if you are happy to share your space with a renter then this could be for you. Renting a room is an ideal option for students, trainee nurses & doctors etc. who are out a lot of the time and are just looking for somewhere that is economical to live in and close to university or work. This would be more popular in cities where rents are high and where typically students or trainees may be priced out of the rental market.
Do Short Term Lets on Airbnb
If you are not willing to commit to a longer-term tenant, then doing short term lets through Airbnb could be for you. You can rent your home out by the room or as a full house depending on how flexible you are. The prices you can charge are dependent on where you live, so someone who lives in the capital, in a good location could charge more than someone in a less popular location. You should make sure that you are fully insured for any damages that may occur when your house is let out. The last thing you want is to be liable for any damage caused, after all the aim is to make money, right.
Rent Your House Out As A Film Or Photography Set
You need to have a property that is a little bit different to rent it out as a set for photography or film, but if you think that your house has a wow factor and offers something a little different, then you may be able to rent it out to a production or photography company.
Pop Up Restaurant
If you are a bit of an expert in the kitchen and have a good knowledge of social media, why not join the latest craze and start a pop up restaurant. This is very popular at the moment and lots of people are turning their homes into instant restaurants to create a new and alternative dining experience. If you think that you have something to offer that is unique, why not invite your friends and family to your pop up restaurant. You should check out any legal requirements that may be in place to ensure that you operate your pop up restaurant on the right side of the law.
Work from Home
Many businesses now prefer to employ home workers. As a homeworker, you are reducing a company’s overheads meaning they don’t have to pay for office space. You are saving yourself time and money that you would otherwise spend commuting. Whatever you choose to do as a homeworker, whether it is an extension of your office job, or you are doing something more casual, you can really fit your job around your life and create a work life balance that works for you. If you have considered working from home but are not sure if this is available to you, speak to your employer to see if they offer this. You may be surprised to find that this is an option for you.