You probably spend a lot on your place, whether you own it or rent it. However, have you thought about how to monetize your space? There are a variety of methods to make money from your vacant space, whether you have full rooms or just a spare corner. The amount you may make is determined by your space’s location, size, and accessibility. This list of suggestions might help you earn a little more income, or possibly cover your monthly mortgage payment. See what possible money-making options are right in your backyard. You can create a studio space rental opportunity by renting your studio space out.
1. Rent out your empty room
This is the most frequent method of generating passive income. Whether you’re a fortunate homeowner who has previously invested in/inherited real estate or you have a spare room in your flat, you can easily list it on sites like Myrsa and rent it out to people.
2. List your parking lot
You might have considered renting out your place… But did you know that you can earn money by renting your parking spot when you aren’t using it? You might be able to generate money with a parking lot you don’t use on a daily basis. It’s really simple to make money through this. List your parking lot, select your prices, and specify when it is available. Those that are interested in your open seat will send you a message. There’s no need to be concerned about contracts or payments: if your rarely used parking lot becomes available, the funds will be paid to your bank account as soon as possible.
3. Make your space available for professionals
Do you have a private office? Dedicated desk rentals to peers in your field might help you recuperate some of your overhead expenditures. If you have a conference room, consider renting it out for seminars, offsites, and networking events on Myrsa to supplement your income. The demand for office space with an abundance of natural light and convenient parking is always high. Simply set up a robust internet connection and bring in some nice coffee or flavoured water.
4. Make money from your Garden
Are you someone who enjoys having lovely gardens? You may hire it for one-time events like weddings, engagements, and children’s parties, especially during the summer when people prefer to be outside rather than inside. If you don’t mind holding parties in your garden or cleaning up after them, you can make money with this choice. An open garden event space rental is what many people are looking for.
5. Rent your Garage out
Do you have a garage full of stuff that you no longer need but have to pay for since it’s a part of your house? You can put it on rent on internet marketplaces like Myrsa and make it a short-term renting platform. This internet platform connects those who need to store their belongings with others who have accessible storage space. The storage room does not have to be limited to the garage; it may also include your loft, den, or even an outdoor space. You may earn a lot per year by renting out this area that would otherwise go unused.
6. Use empty computer labs
Online testing requires suitable venues such as computer labs. It is held for a few hours and so the temporary rental of computer laboratories is the perfect method to proceed. Tutors need a tranquil location to learn. Find your computer classes ideal tuition space. After 7 pm and even at the weekends, schools stay vacant and there can be many classrooms for rent. School computer laboratories are the ideal places for teachers looking for an atmosphere in the classroom. A lot of computers and a full day are necessary for training programmes on new techniques or new software. All must be in a somewhat good atmosphere and in one room together. In workplaces, this is not possible as other employees also have it. An educational session can be held at computer laboratories to teach poor sectors of society how to work on a computer. Social service activities can be carried out with the aim of digitalizing India.
Myrsa is an online marketplace that links photographers, event planners, businesses, and most importantly, creatives, to one-of-a-kind space. Think of it as an Airbnb for events, conferences, and production spaces. If you have an underused room, consider listing it on Myrsa to generate passive money and give yourself more time to pursue your interests. Myrsa provides different types of spaces like classrooms, computer labs, auditoriums, cafeterias, gardens and much more. You can just search up cafeteria space for rent near me and see many spaces waiting for you or you can rent out your own!
Credits: Manavi Sarang