Earn Extra Income By Renting Out Your Excess Space


For Rent: Walk-in Closet... $150, Food Pantry... $75, Couch... $50 a Night


The struggling economy has brought new opportunity to the budding entrepreneur. It is called renting out your excess space, and it means more than just renting out a portion of your house to a trustworthy tenant. Renting space can be anything from a single bedroom, closet, garage, or even just a couch for the night. Do you have more home than you really need? Perhaps you can capitalize on it and make a nice monthly income in the process...There has been a number of interesting outcomes from our struggling economy, but one of these happens to be the use of space. For a few years now websites such as StoreAtMyHouse.com and SpareFoot.com have been helping people to lease out their excess space to those in need. You can rent out an extra garage, storage closet, attic, or crawl space for a set monthly rate.

Housing Swaps and Rooms For Rent
Another means of renting space is through travelers looking for somewhere to stay a few nights. If you are also looking for an inexpensive vacation spot, you can advertise on Craigslist for a house swap. This is where you basically trade spaces with a person or family for a specified time period. You both get a free place to stay, leaving only the expense of actually getting there.

Along these same lines, some people just rent out their home to travelers without swapping, such as during the Democratic National Convention in Denver last year. A lot of people made some pretty big bucks for being inconvenienced for just a few weeks. People who do not have an entire home to rent out, sometimes choose to rent out a room or even a couch for the night. There are of course safety issues with this, but there are plenty of people with nothing but good things to say about their experiences.

With the housing crash and loss of jobs, another development in the necessity of space has occurred. There are a lot of people in need of long-term places to stay at a reasonable cost. Many of these people have turned to apartments, but some have chosen rather to rent out space in a home or apartment. If you think that you don't have enough extra space to capitalize on this... think again!

The Man in the Closet
In recent news, we have learned of a man in Delray Beach, Florida who has been renting out a closet for the minimal cost of $150 a month. Sergio Santos was without a home and could not afford rent for a typical apartment. What he settled for was a small closet space above a restaurant, approximately 14 feet long and 5 feet wide (77 square feet). He has fitted his temporary home with a refrigerator, microwave, loft-like bedroom, and all other basic necessities he needs to survive. He shares a bathroom with a group of other renters within the same building.

While many people would call such actions eccentric, others would say this is making the most of an unused space, and doing what is necessary to survive. While many people have been shocked by this story, others are seeing it as a means of making good use of their own excess space. As the world becomes more and more crowded, it is foreseeable that one day we may have to give up some of our own space in order to allow room for an ever growing population.

Many newer homes are already being built on smaller plots, closer together, to maximize the use of space. We are slowly getting accustomed to the idea of needing less, although some folks seem resistant to the idea. But like it or not, this is probably the coming of the future.

So, what do you think, do you have any extra closet space available?

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Tags: Less Is More | Living With Less

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