I recently wrote a post on how to generate passive income as a student, and the post also mentioned the idea of renting items for money.
We rent things all the time. From Netflix to AirBnB, the convenience and affordability of renting items versus owning can be immensely appealing.
The psychology behind renting is actually interesting in that it can even feel better to rent than to own. Ownership can lead to buyer’s remorse and cut into any minimalist drive a person might possess, whereas renting is temporary and associated with new experiences.
Unsurprisingly, thanks to the power of technology, it’s also incredibly easy to find ways to make money by renting.
If you’re on the lookout for some extra passive income in your life, this list of things you can rent for profit is for you!
1. General Items
If you have a particular commodity that is too inconvenient to own but is something people need occasionally, you can probably make money by listing it on a general rental marketplace.
Drones, music equipment, audio/visual equipment, tools, and party supplies are just a few of the categories that come to mind, but you’d be amazed at the things people are renting (and how much they charge).
Some of the most popular rental marketplaces include:
FatLlama – Make your own listings/profile, set your price, and get paid via Stripe within 3-4 days.
Rentah – Another popular rental marketplace where you can also list services.
Loanables – From ping pong tables to paddle boards, there’s plenty of items listed on Loanables at any given time.
Keeple – An rental based app designed for friends but also for entrepreneurs looking to make money by renting things out.
All of these platforms are fairly similar, but you can make insane money if you have (or invest) in items that are in high demand. Just checkout the Fat Llama leaderboard for the last 30 days:
2. Rent Out Clothing For Cash
People love clothe shopping, and this will never change.
However, certain items or outfits can be prohibitively expensive or hard to find, and that’s where clothing rental marketplaces come in handy. If you think you have an eye for fashion and have a desierable wardrobe, you can make money by renting out your clothing on a few sites, such as:
Rent My Wardrobe – Rent out your clothing for cash with this innovative IOS app!
StyleLend – Submit items from your wardrobe for approval and earn 80% of the rental price for all transactions.
You can also try listing your items on local Facebook marketplaces or groups, especially if you live in a major city.
3. Real Estate
Renting out items like clothing can be a decent way to make some grocery money every month, but if you want to generate some serious income, real estate is where it’s at.
There has been an explosion in popularity for many home rental apps, and if you have an extra room and the willingness to host strangers in your home, you can use the following sites to turn a nice profit.
AirBnB – If you have ever wondered how much you can make by renting out your home on AirBnB, you might be surprised by the stats. The average AirBnB host makes more than $900/month, and AirBnB only takes a 3-5% transaction fee on most bookings!
VRBO – VRBO is one of the oldest home rental platforms and operates in 190 countries.
HomeAway – Less saturated than AirBnB, but charges up to 8% on bookings.
Rent Like A Champion – The perfect home rental platform for anyone looking to rent their place to sports fans.
4. Storage Space
If you want to make money with your property but don’t want to host guests, you can still make some significant side money every single month by renting out part of your home for storage space. Self-storage units are incredibly expensive after all, so there’s quite the demand for cheaper options!
Neighbor – Realistically earn more than $1,000 a year with one of the leading peer to peer storage platforms.
Store At My House – Being 50% cheaper than the average storage locker makes this an appealing option for clients!
Stow It – Keep 95% of your monthly storage price.
5. Event Space
If you have a large backyard or live in an interesting place, you can make money by renting out your place for events!
This is probably a harder income source to get off the ground, granted, but it’s worth looking into. Companies are willing to spend a considerable amount of money on corporate events, so you could be sitting on a gold mine!
Peer Space – Rent out your space for photo shoots, meetings, filming, and events.
LocationsHub – Requires a monthly fee to list your place but is a great way to connect with film crews/companies.
Splacer – Free listings and up to one million dollars in liability insurance per event.
Giggster – Operating in many major U.S. cities.
6. Rent Your Vehicle
While renting out your car for cash isn’t my cup of tea, many people are embracing the sharing economy and generating passive income every month with car rentals.
If you are willing to invest in an additional vehicle or don’t use your own vehicle frequently, you can use the following platforms to rent your vehicle and get paid.
Get Around – This peer to peer car sharing platform is available in over 300 cities around the world and a main player in the industry.
Turo – Turo is currently available in some major U.S and Canadian cities, and you can use their handy earnings calculator to estimate how much income you would make by renting out your car.
HyreCar – HyreCar is a newer company that allows drivers to rent out cars to people looking to drive for companies like Uber or Lyft. Talk about niche!
Riders Share – If you want to make money by renting out your motorcycle, this is the platform for you!
7. Parking Spots
One of the ways my roommates and I saved money during college was by renting out parking spaces from people in our neighborhood instead of spending hundreds a semester on parking passes.
If you have a vacant parking spot, there is no reason you shouldn’t be monetizing it!
Spot Hero – over 20 million cars have been parked through this industry leading platform.
Spot – Available in 8 major U.S. cities.
Parqex – Popular in 12 major U.S. cities.
JustPark – A leading U.K. parking rental marketplace.
8. RVs & Campers
RVs, or recreational vehicles, are immensely popular in Canada and the United States where camping/cottaging is a common weekend activity. However, RVs and campers are also incredibly expensive to own and maintain, so it’s no surprise there’s opportunity to rent out these vehicles instead.
RVshare – States you can earn up to $40,000/year for renting out your RV or camper van.
Campanda – Estimates that you can earn up to $45,000/year.
Outdoorsy – Free to list, small transaction fees, and a million dollars of insurance coverage.
RVnGO – A newer and growing RV rental marketplace in the U.S.
9. Boat Rentals
I actually had an internship for a company that made satellite communication devices for sailors, and let me tell you, everything about boating is ridiculously expensive.
If you happen to own a boat and want to recoup some of your money, peer to peer boat rental might be your best bet.
Boatsetter – Accepts both power and sailboats.
Click & Boat – Has a rental earnings calculator to help determine how much you will earn for your boat.
Get My Boat – Currently listing more than 130,000 boats in 180 countries!
10. Bikes, Snowboards, Surfboards & More!
I’ve never owned a professional road bike or something high end, but man, are bikes ever expensive. Biking is also a major method of transportation for many cities around the world, and you can use these 2 rental marketplaces to make money by renting your bike (and other gear).
List N Ride – A leading platform for bike rentals in Europe.
Spinlister – Allows you to make money by renting out bikes, snowboards, surfboards, and owners have up to $5,000 of insurance for their equipment.
11. Music Equipment And Instruments
Anyone who plays music will know that it’s never as simple as just buying and owning an instrument…there’s equipment, repairs, and a plethora of new toys and gadgets to explore. Personally, I’ve probably spent over $2,000 at this point between my guitars and amplifier setup, and that’s cheap by most standards.
If you have invested in music gear or instruments, you can make some of your money back by renting it out to other artists with the following platforms.
Spark Plug – One of the easiest ways to rent out equipment, instruments, or venue space.
Fretish – A peer to peer guitar and guitar equipment marketplace.
12. Photography Equipment
Like music, getting into photography can be prohibitively expensive for many artists. If you have a decent collection of gear, you can definitely make some money on the side.
KitSplit – One of the largest camera rental communities around.
ShareGrid – Currently has more than 82,000 members and almost $850 million worth of equipment.
You can also turn to the general peer to peer rental marketplaces I mentioned at the start of this post, like Fat Llama.
13. Power Tools
While there isn’t a specific marketplace to rent out tools for money that I can find, local classifieds or Facebook groups are the perfect place where you can list these sorts of items.
Chances are, you have some power tools sitting in your garage right now collecting dust. Since no one wants to buy a random $500 tool they have to use for one specific job, you can probably make some listings in your area and have people rent your power tools for some side money.
Just remember, if you don’t go through a verified marketplace you take 100% of the risk and have no insurance coverage!
14. Rent Out Your Truck
If you own a pickup truck or box truck, you can make a considerable amount of money by renting them out. Again, you have to be comfortable with people using your vehicle and the additional mileage that will add up, so keep these factors in mind!
Fluid Truck – Earn up to $10,000/year for a pickup truck and $25,000/year for a 20 foot box truck.
Fetch – Set your own pricing and earn 70-80% of the total rental cost.
15. Sell Your Bandwidth
While this isn’t the most classic example of a rental marketplace, you can actually make money with your unused internet bandwidth.
Websites like FluidStack make it possible to connect your computer to a network for people from around the world to use. Companies like FluidStack do this to operate as a CDN, which distributes web content to users from servers closer to their region for faster load times, although some bandwidth sellers also operate as VPNs.
This is a bit of a shady passive income idea since people will be using the internet through your IP address, so be sure to do your due diligence and think this one through.
16. Rent Your Friendship
I’ve covered how you can get paid to be someone’s friend in my post on creative money making ideas, and this idea definitely proves that the sharing economy has created some bizarre opportunities.
Websites like Rent A Friend enable you to make money by renting your friendship. According to the site, most listings start as low as $10/hour, but people are willing to negotiate as well. Plus, as a rented friend, you might get invited to some interesting events or activities for free (since you aren’t expected to pay for the activities you’ll be doing).
Frankly, this website is extremely creepy to me. However, if you want to make some pocket money and meet new people this might not be a bad idea!
When it comes to figuring out ways to make more money and diversify your income, sometimes, the answer is sitting right in front of you.
Technology has made it easier than ever before to provide a service/value to the marketplace. If you have valuable assets, you could easily start renting items out for money to increase your monthly income.
Some of these ideas are obviously more or less passive than others, but the idea remains the same: take advantage of what you already own and get creative with your side hustling!
That’s all for this one, catch you in the next post.
Tom is a 22 year old recent college graduate from Canada with a passion for side hustling, passive income, and marketing. This Online World is all about providing people with honest ways to make and save more money by using technology. To learn more about Tom, read his About Page!