Make Money By Renting Your Extra Space Online: What You Need to Know

 

If you have extra space like a garage, barn, or land which can be used for storage, you can rent it out to make some good side income.

A Colorado-based company named STOW IT connects the people with spaces with those who need it online.

You can rent out any kind of storage space from single car parking to double garages or even an entire warehouse using their services.

How to get started:

First, register on STOW IT and become a host.

Next, create your free storage space listing. 

STOW IT will promote it on their platform as well as on some other third party sites to increase the chance of getting it rented.

Further, you'll receive requests from interested renters, and you can choose which requests to accept or decline.

Once you accept a request, both the parties will receive each other's contact information to coordinate dropping off the items.

Expected earnings:

STOW IT will keep 10% from your listed rent amount; the rest 90% goes to you.

So if you charge $200 a month for any particular storage space, you'll get $180, and the company will keep $20.

You should charge the rent amount for your space based on your location, size of the area, available facilities, and the prices offered by competition around.

If you feel unsure about the right prices you should charge, you can look at the comparable listings on STOW IT or call them to get pricing-related assistance.