“Being a homeowner is easy,” said nobody ever. Besides the routine maintenance and upkeep (that lawn always seems to need cutting or raking), there’s also the never-ending expense of homeownership. And we all know that number can be fairly significant.
According to a recent report, the average American homeowner spends between $3,000 to $12,000 a year on upkeep—and that’s on top of what you’re shelling out for your monthly mortgage.
So if you’ve ever racked your brain for ways to cover your home expenses, how about using your property to bring in some cash for a change? And no, we’re not proposing renting out your guest bedroom to a random backpacker.
Instead, we searched far and wide to track down the ways some savvy homeowners have put their houses to work for them. Here are six creative tricks to profit from your property.
1. Rent out your pool or backyard
If you have a pool worth diving into, then you might want to dip your toe into the rental market this summer by using a pool app called Swimply. The company advertises that pool owners can make up to $10,000 per month, although that will depend on how much you charge per hour.
“If you have a pool, cash in and make some extra money,” says Erick Nilsson, founder of Rentola. “The average hourly rate for renting a pool via Swimply is $45. This price changes according to the area. In places like Los Angeles, the prices can hike up to as much as $100 per hour.”
The app also allows you to rent out your backyard or private gym. Plus, the company’s insurance policy will protect you for up to $1 million for general liability claims.
2. Host a photo shoot
Have a great open-concept living room? Or a deck with a view to die for? Your home could be a perfect fit for Splacer, an app that connects you with event planners looking for unique spaces.
Whether it’s for film productions, photo shoots, or even company events like lunches and launch parties, there’s a whole slew of creative ways to earn a bit of extra cash. The best part? You can choose what you rent out: indoor space, outdoor space, or both.
“The right kind of property can help you earn almost $500 a day for a magazine photo shoot and a whopping $2,500 a day for a big-budget film,” says Nilsson. “Although it might be a little inconvenient when the film crew takes over your home and makes changes to its interior, it’s worth all the hassle.”
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