Now I can see why someone would rent out a portion of their home as a source of income. I'm a huge HGTV fan and I love the show Income Property, which shows homeowners converting part of their homes into apartments and often earning enough rent money each month to cover their mortgage. The idea of living rent/mortgage free is very appealing, and could make up for having to give up some my living space (that is, if I had a basement or 2nd floor, don't think I'm ready to go back to roommate living for a while lol).
But one thing the article mentions that I had never heard of is rent out your car. From liability issues, to maintenance costs, and even the stress of wondering where my car is while I'm not using it, I just don't think the benefit could be worth the risks. The article mentions car owners earning about $200 a month and can set their own rates, but it seems like they wouldn't be able to set their rates too high (otherwise people would just rent from a regular rental agency). Maybe I should research into this a little more, but for now, I'm not sold on the idea.
Would you consider renting out your car? What are some other ways to make money without much work or effort? Let me know :)
my mom wants to start renting out some of her house and i'm so worried about the crazies...people can be so douchebag-y when it comes to respecting other people's properties. hope she finds someone with home training.ReplyDelete