5 Ways To Earn Money From Your Home
Airbnb/Short Term Rental
Airbnb has exploded in popularity since 2015 and depending on the location of your home, this could be the most lucrative way to earn some extra cash.
Listing on Airbnb is pretty simple but there is a certain amount of work involved before and during a guest’s stay.
The key things to get right at the start are to take high quality photos of your property and to create a compelling listing.
Search Airbnb for properties in your area to get an idea on what price you should set. Remember the price is per night and you can add a separate charge for cleaning.
You can rent out your home for a night or as long as you wish. Just remember you’ll need to make arrangements to meet your guests or have a way they can access the property. A lockbox or a remote locking system on your door are worthwhile investments if you intend to do this regularly.
My clients use Airbnb to fund their holidays, or pay their mortgage while they travel.
If you have never used Airbnb before, you can sign up here for a bonus.
2. Rent A Room
In Ireland, you can take part in the “Rent a Room scheme”. It allows you to rent out a room within your house tax free. You can earn up-to €14,000 per year before it is taxable. It’s important to note that the room must be contained within your home or a unit that is directly attached to the property. For Irish readers, you can learn more here.
This scheme does NOT apply to Airbnb or similar sites. For example, you can rent out a room to students or people working in the area for an extended time.
3. Location for Adverts, TV & Movies
The most glamorous option of all! If you have an unusual home that has quirky features or you live in a scenic location, you can try rent it out for advertising shoots, or filming for TV/movies.
I have been approached numerous times by location scouts to film in properties and the fee per day can be quite lucrative. I was approached directly from Airbnb and there is an option within your Airbnb profile that allows you to list your property as suitable for events.
It’s important to note that this will involve opening up your home to potentially a large volume of people for the day and there can be some wear and tear involved. Be prepared and have a plan in place to remove any delicate items and ensure your insurance policy covers this work.
4. Rent Your Car Parking Space
This seemed like a very obvious one to me until I mentioned it to a very experienced business women who had never heard of the idea. You can rent excess space at your home or office and earn between €80 and €160 per month in Dublin. You can rent your space per day, week or month.
With the launch of new services like ParkPnp, you can even rent your driveway or home parking space for the hours during the day when you are not there. For example, between 9am and 5pm when you are at work.
5. Event Space
Marketing agencies are constantly looking for new venues to launch products, conduct photo shoots or use as event spaces.
Contact marketing and event agencies in your local city and offer your property. it can help to be able to point them in the direction of further info online, such as your Airbnb listing.