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Renting your garage for monthly passive income • The blog for stupid passive income : AFFILIATE MARKETING

Have you ever considered using this wasted garage space as a source of revenue? Maybe you did not realize that renting your garage is a viable option and today's modern technology is not that difficult!

I mean … there are boring ways to create passive income. Believe me – I know. I'm the guy behind this blog – the Dumb Passive Income Blog! And I admit, I do not even want to rent my garage. I currently have a mother-in-law who lives at home, and her car occupies my third stall in my garage. Why am I writing this post at all?

Well … I write that for you. Maybe you have a bit more space in your garage (or elsewhere) that just slumbers and does nothing for you. They may be so many others, and their extra space has piled up with garbage year after year.

Source: "Junk at Garage" by Felix E. Guerrero about Flickr

So, why not get rid of this garbage and rent this space and start making passive income ?!

Can you rent your garage?

I will not claim to know all the legal aspects as the circumstances will be very different depending on your situation. But here are a few things to keep in mind …

  • Familiarize yourself with all local laws and community rules and follow them
  • Make sure your garage space is clean and protect your home and belongings
  • necessarily with a signed contract (or similar agreement) official
  • Check with the insurance agency for your property to make sure you are properly insured and that your policy allows for rentals
    • The renter must always have his own "rental insurance" completed

Here are 3 questions you should consider before turning your garage into a rental car.

  1. How much does it cost to convert your garage into a rental car?
  2. How much should you charge to rent your garage?
  3. Is your garage safe?

Here is a link to a great article with specific answers to these questions …

https://www.allpropertymanagement.com/blog/post/turning-a-garage-into-a-rental-property/

How to find a tenant for your garage space

You could always go the old-fashioned route and place a classified ad in your local newspaper. Ha! Who are we kidding? Do not do that! No one reads more newspapers and certainly not the classifieds as before.

The next best ad space is Craigslist. With Craigslist you never know what to expect when so many scammers abuse the platform.

The preferred method of renting garage spaces is to use a dedicated platform that connects people who want to rent their space to tenants looking for rental space. Think of it as the Airbnb of the store. One such platform is neighbour.com – and they offer SO much more than just garage rental. Business Insider says so on neighbour.com …

Neighbor … tries to improve the self-storage industry with a peer-to-peer alternative.

Here is complete information about Neighbor on the Business Insider website, They explain some of the key details of how the platform works.

Neighbor.com is a pretty new startup – but they make waves on the internet and do a good job of getting the word out about their service. Simply put, they connect people with extra space with people who need extra space. I know that this article is about renting your garage … but the neighbor can also rent any type of space. From basements to attics to dirt particles that can be used to park a vehicle. It's really amazing and the platform is a brilliant idea. Whether you are looking for rental space or wanting to earn money by renting space – it is definitely worth taking a look.

Start at Neighbor.com

Preparing your garage as a rental space

Step 1 – Clean your garage

Cleanliness is the absolute first step in preparing your extra space for a tenant. Make sure you remove all your trash or other personal belongings. Try it with a broom or vacuum it with a vacuum cleaner. Lastly, you might want to squirt off the area and maybe even paint the floor and / or the walls to give it extra shine. Here are some industrial vacuum cleaners (available from Amazon) that will help you get the job done …

Prices applicable from:

Step 2 – Secure your garage

You want to provide your tenant with a secure facility while ensuring safety and security. Most garages have a large (wide) garage door that opens and closes vertically. Typically, these types of garages are opened with an electric garage door opener (although some can be easily manually opened). For additional security for your renter, you should give him the opportunity to lock the garage door from the inside (provided he has access to a person's door to enter and leave the garage).

Prime-Line 52118 Inside Deadlock – Robust galvanized steel housing, suitable for most garage doors as a security lock – 7/8 "x 1/8", steel

  • SECURITY LOCK – Use this sturdy, galvanized inner lock as an extra security lock for nights, holidays and more.
  • WORK ONLY FROM INSIDE – This type of deadlock intervenes in a vertical lane and only works from the inside as an additional security lock.
  • EASY INSTALLATION – The installation is quick and easy and the deadlock fits most garage doors.
  • HEAVY DUTY – This high-strength, galvanized steel inner lock features a comfortable, rubberized grip for safety, durability and durability.
  • WARNING – This article contains fasteners and features the red rubberized tip. However, we can only guarantee this by ordering from the list that includes shipping and selling from Amazon.com. The package should look identical to the picture on this page.

Amazon Product Advertising API Prices / Images / Reviews for:

Product prices and availability are correct by the date and time indicated and are subject to change. All pricing and availability information displayed on the applicable Amazon website to which you were redirected at the time of purchase applies to the purchase of this product.

Step 3 – Share your garage

You may only rent part of your garage (or basement room or wherever), and you probably want to set up a kind of partition. If you are handy, you can buy wood, nails or screws from your local hardware store and build your own divider. If you are not so practical or just lazy, you can just buy a kind of divider that resembles the following on Amazon.

SONGMICS Retractable Side Awning Privacy Screen 118 1/8 "L x 62 7/8" H

  • SELECTED MATERIALS: The aluminum alloy frame and oxidized lacquer finish make this side awning smooth and rust resistant. The 280 g / m² polyester fabric is breathable, waterproof and easy to clean
  • SUITABLE SIZE: 118 1 / 8L x 62 7/8 (300 x 160 cm), ideal for home or business use, for indoor or outdoor use, eg. Small balconies, gardens, dressing rooms, offices, clinics, etc.
  • EXTENDABLE SCREEN: Up to 118 1/8 extendable, fits perfectly on average high fences; Easy to open and retract with the handle
  • MULTIFUNCTIONAL: The side awning can be used as a shade dispenser, umbrella or divider to keep out the sun, wind and UV rays and add privacy and elegance to your outdoor living space
  • EASY INSTALLATION: Easy installation with wall-mounted cassette. Simply attach the support post to the base plate or directly to the concrete, cement or wooden floor for better stability

Amazon Product Advertising API Prices / Images / Reviews for:

Product prices and availability are correct by the date and time indicated and are subject to change. All pricing and availability information displayed on the applicable Amazon website to which you were redirected at the time of purchase applies to the purchase of this product.

Start today!

Does renting your garage sound like a viable option for passive income for you? Maybe you have other rooms that you could rent, like basement storage rooms or even a spare room. The possibilities end only with your imagination and ingenuity. I mean … it does not hurt to take a look at how much space is available in your area. Have a look at neighbour.com!

Start at Neighbor.com

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