Three Ways to Make Money by Using Your Property Creatively (Part 2)

We continue to report on creative ways to make money by using your property. Feel free to check the previous post (part 1) on our website.

1. Rent out your storage space

Consider renting out your (mostly) empty loft or garage to someone who needs a place to keep their belongings, if you have one. You are able to describe your space's location, size, and monthly cost on services like Storemates.

Renting out an empty garage or loft space may bring in an average of £1,000 per year, according to storage rental provider Stashbee. Even a bedroom or sizable cupboard may be converted into a rentable storage unit in your house.

2. Use your house as a workspace

Since the Coronavirus pandemic, there are now more people working from home than ever before. However, not everyone has enough room for a home office. Renting out a spare room to a remote worker can generate anything from £50 to £250 per day. 

Businesses and professionals may work from home or hire a place for events and meetings thanks to websites like OfficeRiders. Firstly, you describe your place, add a few pictures, and list the cost for a day, in order to sign up. Renting out the space to startups or larger businesses, including solo photographers, may earn hosts between £85 and £450 per day.

3. Home exchange

House swapping is more about saving money on vacations than it is about generating money. After all, it might be challenging to justify spending a lot on trips overseas when living expenses rise. 

You could simply trade your residence with someone else if you needed a break from home, saving you hundreds or thousands of dollars on travel accommodation. If you work from home, house swapping could be a great way to travel and get away from your desk for a while. If you want to travel during busy seasons and have kids, the savings would be quite considerable.

Perhaps, set up a casual trade with relatives or friends, or you could check if anyone else is interested in doing the same. As an alternative, you may market your property and look for housing on several home exchange websites. For instance, you may sign up with Guardian Home Exchange and select one of three options to join. The first two weeks of using the service are free.