Everyone loves earning extra cash. Launching a side project or business can be lucrative, but it can also be a lot of work. If you’re looking for an easier way to make some spending cash on the side, why not start with stuff you already have?
We’ve told you all about how to make cash on the side. Of course, the more time and energy you have, the more money you’re likely to earn. But if you’re short on both, there are a number of services that make it easier than ever to earn money by renting out stuff you already have. Here’s a big list of them.
Companies like Uber and Lyft let you earn cash by offering rides, but that requires your car and your time. If you don’t have the latter, you can still rent out the former. And there are other transportation-related ways to make money, too.
Jekalo is a peer-to-peer car rental company that lets you rent out your car when you’re not using it. you review requests to approve renters. It’s a great way to earn extra cash if you don’t use your car much or you have a spare one. they are based in Lagos
RentMyride is a similar service, but they’re only available in the South Africa,
P2P sites maintain additional insurance for the car, as well as liability for accidents involving other cars and drivers. But only a handful of states have addressed P2P insurance complications, such as who pays for what in the case of an accident. To play it safe, anyone offering their car for rent may want to beef up their liability coverage.
While Jekalo and RentMyRide assures you’re covered across the Lagos and South africa., it may still be worth checking into the rules of your own policy and location.
Here are some peer-to-peer car rental options for other africa countries:
How much you earn depends on what kind of car you have and where you live, but that’s true for all of these categories.
If you’ve got a coveted parking spot, you can make a buck or two from it. Co-Tenant let you list your parking spot to rent them out, whether it’s curbside, your driveway, a garage, or a dedicated lot. You can choose your schedule and your rate per day, week, or month.
Co-Tenant takes a 10% commission on whatever you earn.
Co-Tenant offer pricing suggestions, too, based on what type of spot you have and where it’s located. Rates range from a couple of bucks a day to ₦1,000 a day in some areas (Co-Tenant is based all over africa)
Routes or Commutes
If you’re traveling somewhere, and you don’t mind delivering something on the way, you could sign up for a local shipping network.
If you’ve got clothes you rarely wear, you might consider renting them out rather than getting rid of them. And here are a few services that let you do it:
- BuyOkrika: You can sell out clothing, shoes, and accessories.
- Gumtree: You can sell on GumTree if you are in south africa.
Co-Tenant has become the go-to service for renting out a home or apartment,stores and office spcae. But there are lots of other options, too:
- Co-Tenant allows you share a room in your apartment
- allows share stores or shops
- Co-Tenant allows you share office spaces
- Co-Tenant serves all over Africa
You can rent out all or part of your home or apartment for up to 14 days per year and all the rental income you receive is tax-free, no matter how much you earn.
• you rent out your home for 14 days or less), and
• the home is used personally for more than 14 days, or more than 10% of the total days it is rented to others at a fair rental price.
If you only rent out a room in your home or apartment and continue to live in the rest of the space, you’ll have no problem meeting the personal use requirement. But if you rent out the entire home or apartment, you need to keep careful track of your rental or non-rental days.
You could be making over ₦100,000 sharing apartments with someone
Camera and video equipment are expensive, and there are a lot of folks out there who find it cheaper to rent than buy. If you’ve got equipment you don’t use often, consider sharing it for some extra cash. Here are a few services that let you do just that:
- EasyHire: You can lend to borrowers nearby or ship your equipment
How much you earn depends on what kind of equipment you have and what the demand is like in your city.
There are some peer-to-peer sharing services that are just too specific to categorize. Here are a few odds and ends you can rent out:
- Bathrooms:Co-Tenant lets you rent out your bathroom.
- Office Space: Co-Tenant Lets you rent out your office space for extra income
On the other end of the spectrum, there are a number of general sites that let you rent all kinds of household goods, from power tools to home appliances
Each of these services lets you charge a deposit, so if your item is damaged or stolen, you can keep the money the renter pays upfront.
Of course, with any of these sharing services, you want to know what you’re getting into. Read the fine print, know your liability, and understand the fees. Also, some of these services could be more time consuming than others. But all in all, renting out your stuff is a relatively low-effort, passive way to earn extra cash, and there are a growing number of options available.