What Can I Rent Out to Make Money?

Renting out personal items or assets is a popular way to monetize underutilized possessions. Digital platforms connect owners with renters, streamlining transactions and creating new income streams from a wide variety of items.

Renting Out Physical Spaces

Renting out physical spaces offers income from underutilized property. Options include:

Spare Rooms: Rent a portion of a primary residence to guests or tenants via short-term rental platforms. Prepare by cleaning, decluttering, and furnishing.
Entire Residential Properties: Rent for short-term vacation stays or long-term leases. Use temporary accommodation platforms or online marketplaces. Prepare by cleaning, repairing, and ensuring functional utilities.
Private Storage Spaces: Garages, basements, or spare rooms for storage can be listed on peer-to-peer platforms or local classifieds. Clear, clean, and secure these areas, ensuring ventilation and pest control.
Parking Spots: Driveways or designated spaces are in high demand, especially in urban areas. List on local apps, social media, or specialized platforms. Ensure they are clear and accessible.
Undeveloped Land: Rent for camping, events, or temporary storage via online land rental platforms. Prepare by clearing debris, marking boundaries, and ensuring access.

Income from property rentals is generally subject to federal income tax and should be reported to the Internal Revenue Service. Associated expenses like maintenance, cleaning, and platform fees are often deductible. Review existing homeowner’s or renter’s insurance, as specialized rental insurance may be necessary. Local ordinances, zoning laws, or homeowner association covenants may restrict rental activities; understand these regulations before listing.

Renting Out Vehicles

Renting out vehicles offers income from idle assets. Options include:

Personal Cars, Trucks, and SUVs: Rent through peer-to-peer car-sharing applications for daily or weekly periods. Prepare vehicles by cleaning, maintenance checks, and confirming fuel or charge levels.
Recreational Vehicles (RVs) and Camper Vans: These have significant rental potential, especially during peak travel seasons. Use specialized RV rental platforms. Ensure internal systems are functional.
Specialized Vehicles: Boats, jet skis, ATVs, and motorcycles cater to niche markets. List through dedicated marine or powersports rental services. Ensure mechanical condition and functional safety equipment.
Personal Mobility Devices: Bicycles or electric scooters offer rental opportunities in tourist or urban areas. Use local shops, online marketplaces, or self-service stations. Perform regular safety checks (e.g., tire pressure, brakes).

For all vehicle rentals, review personal auto or watercraft insurance policies, as commercial rental activities may not be covered. Many rental platforms offer their own protection plans. Common usage terms, such as mileage limits, are often applied. Basic safety checks, including tire condition and fluid levels, are essential before each rental. Renters typically need a valid driver’s license, and a clear rental agreement helps protect both parties.

Renting Out Equipment and Tools

Renting out equipment and tools monetizes expensive, infrequently used items. Options include:

Home Improvement and Gardening Tools: Power drills, lawnmowers, and ladders are frequently sought for DIY projects. Use online peer-to-peer marketplaces or local community groups. Ensure tools are functional and serviced.
Event and Party Supplies: Tents, tables, chairs, and sound systems are a significant rental market for one-time occasions. Rent through specialized event rental companies or online community boards. Clean and check components for damage.
Photography and Videography Equipment: High-end cameras, lenses, and drones are valuable assets. Use specialized online rental platforms. These items require careful handling; document their condition before and after each rental.
Sports and Outdoor Gear: Camping equipment, kayaks, and skis are popular seasonal rental items. Use local outdoor gear shops or online marketplaces. Ensure safety features are operational and items are clean.
Specialized Hobby Equipment: Musical instruments, high-end gaming consoles, or VR headsets appeal to a niche audience. Use online forums or specialized rental platforms for electronics. Maintain excellent condition with all accessories included.

For all equipment and tool rentals, consider a security deposit system or insurance for high-value items. Logistics for transportation or pick-up/drop-off are important. Store equipment appropriately, such as in climate-controlled environments for electronics, to preserve condition.

Renting Out Personal and Unique Items

Renting out personal and unique items offers income from possessions with specific value or specialized needs. Options include:

Designer Clothing and Accessories: High-end items like handbags, jewelry, or formal wear are in demand for special occasions. Use specialized fashion rental apps or luxury consignment platforms. Professional cleaning and careful handling are crucial.
Collectibles or Rare Items: Vintage electronics, unique art, or antique props can be rented for display or events. Use online marketplaces for niche collectibles or prop rental agencies. Valuation and authentication are crucial for pricing and insurance.
Baby Gear: Strollers, car seats, and cribs provide a valuable service for traveling families. Use local community groups or specialized baby equipment rental services. Ensure items meet safety standards and are cleaned.
Specialized Electronics: High-performance laptops or niche audio equipment can be rented for short-term projects. Use online tech rental platforms. Implement tracking for high-value items; ensure software licenses are handled.
Art or Decorative Items: These are often used for home staging, events, or film productions. Potential clients include interior design firms or event planners, or use online marketplaces for decor rentals. High-quality photography and detailed descriptions are essential.

For all unique item rentals, robust rental agreements outlining responsibilities and potential liabilities are important for security and damage prevention. Managing wear and tear requires careful inspection and clear policies.