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How to Make Money Renting Out Your Stuff (in no time)

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READY TO MAKE SOME SERIOUS CASH? Put your stuff to work for you by renting it and turn the things you already own into extra income.

 

What if I told you that you could find $500 in your garage? Or even $1,000?

 

Yep!

 

Do you have any unused items that are sitting around the house and not being used most of the time? Let me guess…plenty! How about finding them a temporary new owner, and get some cash instead?

 

All you need to do is spend a few hours this weekend, put your stuff on a reliable peer-to-peer rental marketplace like FriendWithA, which allows you to get paid over and over again for your stuff!

 

Renting your stuff is not just a great way to make extra money, it can also become a side hustle that turns your things into a passive income-generating machine.

 

Thanks to technology, the sharing economy is growing rapidly for many reasons:

 

Let’s see how you can rent your stuff for profits.

 

This article will cover everything you need to know about peer-to-peer renting and how to make money renting anything.

 

Best Place to Rent Anything Online

Whether you’ve got a spare wheel, a boat, assorted athletic equipment, camping gears, or party supplies that you only use for special occasions, you could let your stuff work for you instead of collecting dust in your home.

 

There are tons of rental platforms other there, but one stood out from the rest is FriendWithA (FWA).

 

FriendWithA is a peer to peer rental marketplace, allows you to rent anything easily and with total peace of mind. Kind of like Airbnb, but for stuff.

 

What’s particularly great about FriendWithA is that they provide Instant Property Coverage and Liability Guarantee. This way, you can be sure that your item is protected while it’s rented out to some strangers.

 

Not only that,  they verify everyone before they are allowed to borrow your gear. Plus, there’s a ratings and review system to ensure accountability on both parties, so that your item is safe and secure.

 

What’s more, their fees are much cheaper than other rental platforms. It’s free to sign up and FWA generally charges 6% per item for service fee and separately for property coverage. Before you list your item, you can use this free calculate to check how much you can earn on a rental of your item.

 

If that’s not enough, FriendWithA offers you the utmost flexibility and privacy to earn money from the comfort of your own home. You set your own price, how long and when you want to rent. You decide who can see your item and information. You can send a message inside FriendWithA to arrange pickup and return however you prefer. And all payments are done electronically through the site.

 

The best part? It’s completely free for everyone to join.

 

What Kind of Gear Can You Rent for Extra Money?

Some items that are high in demand right now, including digital cameras, skateboards, industrial tools, electronic bike, etc. You can browse through the website to get some inspiration.

 

Be creative. Think of anything in your home that someone may actually pay you for using it. If you have an item that’s not listed on the marketplace, you can request a new category.

How to Rent Your Stuff Online for Money

FriendWithA is insanely easy to use and one of the best places to rent anything online. After listing your item, which takes about 20 minutes, FWA will automatically find a renter for your gear. Your things will continue to generate recurring income without taking much of your time.

 

  1. To get started, you’ll need to sign up for a FriendWithA account. Verify your email and phone.
  2. List your item for rental in FriendWithA. Fill out the details of your listing, add a title, few photos, price, condition, etc.
  3. FriendWithA will notify you if someone is interested in your item.
  4. Next, confirm bookings with a single click and arrange a convenient pickup location.
  5. That’s it. FWA will send your earnings to your bank account, starting from $5.

 

Top 5 Tips for Renting Stuff Online Successfully

Are you checking things sitting around the house that you’re not using to see what you can rent out right now? You should!

 

But before you go too far, make sure you follow these top tips to make the most out of your gear.

 

1. Set the right price

When choosing your price, there are a few things you should take into consideration:

No one is going to borrow your gear if you rent it close to a new unit price. But don’t forget that you can rent the same piece of item over and over again, as long as it’s in good condition.

 

2. Prepare your gear

If you want to rent out your stuff and haven’t used it in a long time, give it a thorough clean and make sure it’s functional. Pack your things for easy handling.

 

3. Take great photos for your product listings

Did you know having good product images could increase your rental chances by up to 40%?

Yes, first impressions count.

Photos are one of the most important (if not the most important) parts of your item lists. It allows people to see the exact condition of your gear before they decide to rent from you.

 

 

4. Don’t ignore insurance

How do you know the person you’re renting out your item too won’t break your stuff? Don’t leave it to chance. If you’re renting out equipment or things that tend to be very expensive to purchase, you might consider insure the item for an extra fee.

Although the Lender Damage Guarantee program is not compulsory, it’s a smart way to protect yourself against unforeseen risks.

 

For a small fee, FriendWithA insures your item instantly with property and liability insurance for up to $3,000.  In case someone files a lawsuit or claim against you for bodily injury (although very unlikely), your personal liability is insured up to $100,000.

 

5. Batching

Listing a product on FWA is pretty straightforward and easy. It doesn’t take a lot of time.

 

But in order to make a significant amount of money, you should have multiple products to list.

 

Take some time to snap multiple pictures of everything you want to rent at one go. It’ll save you time and effort of going through the process of setting up your camera and stage. Next, write your titles, descriptions and any detailed information or anything that your potential renters need to know about, such as what’s the condition, any flaws the item has, color, size etc.

 

Once you have all the information of your products, upload them to FriendWithA.

 

Conclusion

Now that everything is set up, sit back and relax, and wait for the money to start rolling in. Be sure to keep up to date with your orders, provide the best customer service you can and always focus on the experience that your renters have. This is the best way to make sure that your side hustle is a success.

 

Try Listing your toaster for FREE today on FWA and tell me how it goes! Get Instant Property Coverage for stuff you love! Confirm bookings with a single click. Earn $10 after your 1st successful transaction.

 

What do you think?

Would you rent out your unused item for cash? Why or why not?

Tell me in the comments!

 

Related reading:

 

And lastly, if you liked this post, don’t forget to share it on Facebook, Pinterest, and Twitter.

 

If you are interested in learning more about my entrepreneurial journey, Check this out.

 

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