Whether you need a little extra to cover the bills this month, or you want to go on that holiday you’ve promised yourself the last five years – sometimes your monthly earnings just don’t stretch far enough. One way to make a little extra money outside of your regular income is to explore peer to peer renting.
This is something that has been around for a while, however recently it has been gaining steam with the help of some handy websites. Take a look at three of our favourites to try:
This is a well-established site and is considered a market leader when it comes to renting out spare rooms. Advertising a room here is much cheaper than using an estate agent and allows you the opportunity to vet tenants in a variety of ways – and you could make over £400 per month.
This site is a fantastic way for people to rent out expensive items that other people may need but can’t afford. This can save or earn you money depending on how you use it – you could rent an item rather than buying to save some pennies, or rent out an item you already own for profit.
A simple idea that has really taken off – this can be an easy way to earn a little extra. Parking costs can be huge, making spaces in demand. If you happen to live somewhere where people struggle to park and you have space – consider listing yourself on the site so people can pay to park at yours. Earning you an average of £40 a week (more in city centres), this is also worth considering if there are any events/festivals happening near you.
Remember – any additional earnings you make on top of your day job need to be declared to the tax man. You can use self-assessment online, or seek advice from an accountant.