Here is how you can earn from renting out your extra space for storage:
How to Rent Out Storage Space
To rent your spare space online, you will need to do the following:
Step 1. Register your space online
Measure the area, take pictures, and write a detailed description of the space on a storage app or site (several are listed below).
Step 2. When someone requests more information, respond right away
Most people will contact several people at once when inquiring about space. If you wait to get back to them, many will likely have already booked with other renters in the area.
Step 3. Show the renter the storage space
Set up an appointment with your respective renter to show them the available space. People will want to have a feel for you and the storage space before they ultimately do business with you. If you are concerned about your safety on your first visit with them, invite a friend over to be with you.
Step 4. Confirm the reservation
If you and the renter come to an agreement about the space, fees, and any rules either of you suggests, confirm the reservation and when they will move their belongings into your space. Try to be there when they arrive in case they have additional questions. You can even offer to help them move.
What Types of Space Can You Rent Out?
Renting out space for storage is a good alternative for homeowners who can’t (or don’t want to) rent out space to visitors using Airbnb. If you have a room (or two) that you don’t need, you may be able to earn a little passive income from a renter. Here are a few ideas:
Where Can You Advertise Your Extra Space
There are a few sites or apps where you can showcase your extra space:
1. Store at My House App
The Store at My House App is known as the “Airbnb” of self-storage. With this app, you can make money off of your unused space. With this premier marketplace, renters can often save up to 50% of what they would pay at a traditional storage facility.
With Store at My House, both parties will work together on the rules of the agreement so that both are comfortable. Everyone is different and will have different levels of comfort surrounding who they rent to or from.
2. Djeepo
Like other online storage agencies, Djeepo takes security and c safety very seriously. In order to sign up for their platform, you must provide a valid driver’s license and phone number. The platform also frequently visits storage places to ensure quality.
Both the space owner and the renter will be able to leave a rating on the other to let others know what it was like to do business with each other. This ensures that everyone will have a good experience.
3. Neighbor
Neighbor’s mission is to match people’s belongings with people who have extra space around their home. People can list the amount of space they have available and the price they want for that space on a monthly basis. You can list your space for free.
The platform even has a calculator to help you determine how much you could make on a yearly basis if you cleaned out space in your home to let people store stuff.
4. Stashii
If you live in Canada, Stashii is a good place to list your spare storage space. The company currently serves Calgary, Vancouver, Edmonton, Toronto, and Montreal.
You can post details and information about your space and even upload pictures to help potential renters determine if your room will meet their needs.
The company does offer a $50,000 insurance policy to renters, but not to homeowners. They do help manage resolutions between you and the person storing their items if there is any dispute.
Renting Out Storage if You Are Renting Your Home
Bear in mind that if you are renting your apartment or home, you may not be able to rent out extra space without previously speaking with your landlord. Many rental agreements include a clause that doesn’t let you sublet to other people. Make sure to look over your paperwork and speak to the true owner before listing your space.
How Often Do Storage Renters “Visit” Their Stuff?
Most storage renters will only visit their items 4-6 times per year (every 2-3 months), though some will visit more often and others will visit less. If you are concerned about how often someone will be visiting your space, talk to prospective renters about what their plans will be. Most will be willing to give you a heads up before they arrive or will agree to certain “hours of operation.”
Don’t Rent to Someone Who Makes You Feel Uncomfortable
Trust your gut. If someone makes you feel uncomfortable, walk away from the deal and explain your reasoning to the listing site. It is always better to be safe than to put yourself into a position where you feel compromised.
