With times being hard and everyone looking for ways to reduce their monthly bills, finding ways to make additional money from your properties makes a lot of sense.
Create a Rental Room
The most obvious way of making money from your property is to rent it out. If you have another property you can go and live in, it makes sense to be making money from whichever property you aren’t currently occupying. However, most people only own a single property. This doesn’t mean you can’t take advantage of renting a room out, however.
In fact, it has never been easier to rent out a room. Ever since Airbnb exploded onto the scene, there has been no doubt about the viability of a business model whereby homeowners rent out space in their homes directly to consumers.
London Shared is another example of a new approach to letting out properties. London Shared rent properties from their owners, and then rent out individual rooms within them. They manage the property and ensure the landlord gets their full rent money each month. Those who become tenants in a London Shared property get an excellent deal. For example, you can rent a room in Battersea for as little as £190 pw.
Rent Out Storage Space in Your Garage
If you have a large garage attached to your house that isn’t currently being used, why not take advantage of it? The idea of making money off empty space might sound absurd, but people always need somewhere to store their ever-growing mountains of stuff. As long as the size and characteristics are right, meaning there is enough room and adequate shelter from the elements, there is nothing stopping you from offering it up as storage space.
Given how much it usually costs people to store their stuff professionally, they will be eager to secure themselves a better deal. If your property also has a large enough garden, you could consider making some of your outdoor space available too.
There are numerous ways that a garden can turn into a real money-spinner for you. First of all, there’s the simple fact that improving your garden will also increase the value of your property. But there is also a wide range of plants and flowers that can fetch a decent price on the open market. Many people today take their environmental footprint seriously. As a result, they are eager to source things like herbs and vegetables from local growers.
Why not become a part of this revolution? The only limit to the number of vegetables and herbs you can grow is the space you have.
Hold an Event
If you are fortunate to have a big enough property, why not consider hosting an event there? Offering to host events can fetch you a very nice price, and it is also a fantastic way of improving your relationship with the local community.
There are many ways that you can make money from your property, so why no do so? When most people think of making money from their property, they think only of renting. However, there are numerous options out there for monetising property.