Rent out things for money

Rent out things for money

Here is a quick guide on how & what you could rent out for money.

1) Rent out your equipment

Now this isn’t going to be for everyone but if you’ve got anything that is worth a decent amount of cash then someone somewhere will be up for renting it.
Rent it out several times over it’s lifetime and you can basically have amazing things for free
Think cameras, TVs, bikes, game consoles and anything that people can’t always afford.

2) Rent out clothes, shoes etc

Again not going to be for everyone but it’s a great excuse to buy those expensive shoes you’ve always wanted.
Build up a portfolio of items and you’ve got a new massive wardrobe that can pay for itself.
Charge a fixed rate per item for a night/weekend etc, compare prices locally to other similar renters/companies.
Obviously not everyone is going to want to ‘share’ items with other people but you would be surprised at how many would for the right price.

3) Rent out your spare car parking spots

http://10ws.co/122xTmW
Ideal if you live near a train station, airport, shopping centre, business park, sports stadium etc)

4) Rent out your time

Everyone has a price, if you’re good at doing something then someone will happily pay you to help them out.
Good at computers? Help an OAP setup a new computer
Good at writing? Create articles for websites and sell them.
http://10ws.co/1Cq46AX & http://10ws.co/1Xinb6g

5) Rent out your car

http://10ws.co/1GerTvj or http://10ws.co/1Cq3YBt
Fully insured, no monthly fees, set your desired rate, you pick the people who rent your car.
The companies deals with it all, other companies out there but this seems the best.

6) Rent out your spare room, attic, garage, shed.

If you’ve got space to fill, someone has things to fill it
http://10ws.co/1Cq42B4, http://10ws.co/1Cq4385 or if you fancy doing your own B&B style thing use this http://10ws.co/1tNaox4

► How do I advertise the items I’ve got?

  • Think the same as you would if you ran a business.
  • Get leaflets, postcards created and put them up
  • Free ad listing sites (e.g. Gumtree)
  • Find other renters and give them a list of your items, in return get a copy of theirs then you can swap
  • Find people on forums etc but don’t just spam websites think longterm!

► How do I reduce my risks of my items getting nicked?

  • Ensure you take full details of the person renting including a signed piece of paperwork from you to them and them back.
  • Always take a copy of official ID (passport/driving licence etc)
  • Remember to get the relevant insurance
  • Always take a deposit (can be as much as the item if they’re risky) + ensure you get a copy of ID’s etc
  • If you’re worried about something then remember you can always say no
  • Always ensure you create a mini-contract between you and them, both of you should sign it & ensure you get two copies
  • Always remember you might get people trying to rip you off, so play it safe, get insurance and always check
  • Ensure the items have your postcode/name/phone number permanently on the item (think about etching your details on to them).
  • UV pens are also a good start

Good luck & let us know how you get on.

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Important things to remember with everything we post:

  • If you earn over your personal allowance (currently £12,500 a year) HMRC need to get their % cut (even if the money is in cash or from another country)
  • If you’re working for yourself / earning an income on the side you need to let HMRC know – There are numerous benefits but also some drawbacks
  • You need to always ensure whatever you’re doing is legal and not hurting anyone else – be careful and always think twice
  • Some income streams may require you to have DBS check, licence, insurance or qualifications before you can start to profit from it, do your research.
  • Be careful that any additional income doesn’t compromise your studies or main income/job
  • If you work for a company check your contract, if you don’t inform them you’re working on other side projects outside of work they may have grounds to ownership on this work

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