How to make money from your car, home, RV and other stuff you own
We could all use a little extra money, but who has the time to pick up a part-time job? The solution is simple: Make passive income by renting stuff you have. Use these apps to earn money without working.
1. Turn tools you never use into cash with Rent My Equipment
This peer-to-peer marketplace app helps you make money by renting trailers, home improvement tools, adventure gear, heavy equipment and other products you aren’t using. Whenever you list an item, the Equipment Protection Plan covers you against damage and loss for up to $25,000.
To get paid, you have to make an account with Stripe. This credit card payment app is popular among small business owners. Just know that it takes 25% of the total gross rental fee, including delivery costs.
How much you could make: Hundreds or thousands a month, depending on the equipment you have.
2. Make passive income by renting your RV with Outdoorsy
This app is easy to use: Just make a listing by uploading photos and writing a description. Outdoorsy will pay you within 48 hours of the booking if someone rents your RV. Depending on your host level, Outdoorsy will take 20%, 22% or 25% of the total price for fees.
How much you could make: $100 to $10,000 yearly, depending on how often you rent.
3. Got a car you don’t use? Turn to Turo
That car you never drive costs you at least $100 in monthly insurance fees. Turn that financial drain into a source of income by renting it out with Turo. This site connects you with people who need a vehicle.
Before you list your car, use Turo’s calculator to determine how much money you’ll make.
Turo offers security measures, like background checks and $1 million in liability insurance for each vehicle.
How much you could make: $3,000 to $75,000 yearly, depending on your car.
4. Rent your home with Airbnb, Vrbo and other sites
Turn your vacation home into a money-making opportunity by listing it on Airbnb or Vrbo. Although these are the two most popular home-renting apps, they have some notable differences:
- Airbnb has more services and users. Most hosts pay a 3% fee, with some exceptions.
- Vrbo only accepts bookings for standalone vacation spaces. Most hosts pay a 5% commission per booking plus a 3% payment processing fee.
- Students, business people and travelers prefer Airbnb, while Vrbo attracts large families and seniors.
- You can rent out single rooms with Airbnb but not Vrbo.
How much you could make: Anywhere from $100 to $1 million a year.
You can even rent a single room in your home
Got an extra room you aren’t using? Turn it into a goldmine by renting it out through Airbnb, Peerspace or Home Studio List.
- Peerspace: Use this site to rent spaces like your kitchen or backyard. You just have to set a price, add photos and write a description. Peerspace has millions of users, so you have lots of money-making opportunities.
Peerspace pays you via direct deposit after a 15% service fee for each booking.
- Giggster: This site connects you with film crews who want to rent rooms for scenes. Some production crews need homes for weeks or days, while others only want to be in your home for a few hours.
You’ll be paid via direct deposit. Giggster collects 19% of your host payout for service fees. However, it’s only for iPhones.
How much you could make: Anywhere from $1,000 to $100,000 a year.
5. Make passive income by renting your pool with Swimply
If you aren’t using your pool, rent it by the hour with Swimply. Make a listing and set your price range. Some homeowners rent their luxury pools for $80 per hour.
You have to connect your account to a Stripe account to be paid. Following a successful booking, Swimply pays you via direct deposit after a 15% service fee.
How much you can make: Around $5,000 to $10,000 monthly.
Tags: Airbnb, Android, apps, equipment, make money, passive income, renting, security, tools, Vrbo
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