Blog

How using your spare room will make you some money?

For the past few years, working from home in some way has caught the attention of a lot of people: from nine-to-five workers, to college students, stay-at-home mums, and many others who want to dabble in this type of lifestyle, they are looking for more comfortable alternatives. Even if you don’t have as much free time as the others but want to earn extra income , there are other ways you can earn income without leaving your home.

Luckily, many homeowners have a room, attic, converted garage or outdoor cabin that they don’t make use of and can help turn that area of the house into an extra income with the help of various virtual applications and tools.

For example, sometimes you have the situation that someone moved into your house, or you bought a house and it comes with an extra room that you didn’t need. Whatever the case may be, and you have a spare room, these tips will help you:

Renting your room.

Through websites, applications or platforms that work worldwide, you can rent your room for someone who needs a stay for a day or a couple of days.   One of the more popular ideas is hosting foreign students through a local Language School where they have both short and long term students looking for good local accommodation

The methodology is very simple: you offer yourself as a host, and on the websites you will describe the aspects of your home, along with some photos. As the room is the reflection of your space and must be attractive in order to have more rental opportunities, the clearer and better quality the photos are, the better. It is important to be very clear about the pricing and other aspects of the rental process in the ad.

Some of the basic data that you must provide to make the rental are the description, the location, the services (if you offer sheets, towels or if you provide a coffee for breakfast), photos and, of course, the price. Also, in the Calendar function you will have several options, depending on whether your room will always be available or only for a certain period of time.

The options are diverse and will depend a lot on your place of residence and the amenities you can offer. For example, if your space has thermal insulation, heating, air conditioning or dehumidifier, you could raise the price and earn even more.

On the websites where you offer your rental services you can find with different functions such as payment facilities, possibility of receiving your payments by wallets such as PayPal, credit card, debit card, bank transfers or cryptocurrencies, and many other options.

There is also the function of the backing of a company. This means that, for example, the platform checks the identity of users. That way you will be able to know if the potential tenant who will come to your house is a person who has nothing to hide.

There is also a function like an extra insurance. Because, as great as it is to earn money by renting those extra spaces you have at home, opening the doors to a stranger can lead to risks such as theft. In that case, make sure that the platforms where you rent will give you additional protection that you will be grateful for in a future.

Creating a home office by offering to teaching foreign students English in your own location.

Although it sounds simple, not a lot of people think of doing something like this. If you have the possibility of converting a room into an office or classroom, you can find a world of work opportunities where you can also earn extra income (like freelancing, trading, between others) or rent the office to someone who needs it to teach their student    So many students are looking for additional or private English lessons that it would be easy to be in demand.  Sometimes people combine the two and offer English lessons and accommodation. This website is a good example.  www.learnenglish1-2-1-com

Turn it into an environment to work on something.

Depending on the talent, resources and the level of creativity you have, you can turn your spare room into a space to provide services or products such as a sewing room, a photographic studio, a classroom for private tutoring, and many other spaces of a similar ilk.

Undoubtedly, a house is the best investment that people will make in their lives. Among the sites that help you generate income with your spare room are Neighbour, AirBnb, and ShareMySpace. You can offer rentals not only for accommodation, but also for work events, sporting, artistic, recreational, and many more.

If you have a non-residential space that someone can take advantage of it to organize a celebration with more freedom or a fixed activity (such as a book club, poetry club, role-playing), this will be their favourite place!

As a recommendation, it is important that before you start the process, you carefully review the laws of your locality or homeowner’s association, whichever is applicable, because you may require a permit or application beforehand.

It is also essential that you check with your insurance company to find out what type of coverage you have that will cover damages and accidents that may occur on your property. If you are not sure, you could evaluate the option of changing your policy for a more general one or contracting another type of insurance.

As you can see, the possibilities are many. If you have enough creativity and you are brave and enterprising enough to dare, you can turn an empty or unused place into a way to receive passive income. So take that leap of faith and look at this website in the first place.

hosting english language students

Become a Host Family

Interested in becoming a Host Family?

Being an English Language Homestays Host Family is a fun, interesting and rewarding experience that generates an extra income for you. Host Family accommodation is a great opportunity for you to share and explore British culture.

Leave a comment

en English
X
ELH Now offering Virtual/Live online English Courses for all ages, Book an Online English course TodayLearn more
+ +