Typically, your home is a major source of expenses as not only you have to pay off your mortgage, but also cover property taxes, your home insurance and maintenance and repairs costs. But it turns out that there is more than one way to turn your home into a source of considerable revenue.
Rent Out Your Home Whilst Away on Holidays
One of the greatest ways to make a little something is to rent your rent out your home while you are away on holidays. Of course, the rent price will have to be lower than hotels nearby offer but even with the lower price you will be able to make from $300 to $500 a week. Also, don’t forget to lock your valuables or take them with you and set the ground rules.
Host Foreign Exchange Students
Another way to earn some money from your home is to host a foreign exchange student. You will not only be able to discover a foreign culture in your own home, but also earn some extra money. Be sure to choose a program where students pay to exchange families and earn from $170 to $220 weekly for providing lodging and meals.
Rent Your Home to Television and Movie Companies
If your house has a nice view or is peculiar in some way, you can rent it out to television and movie companies. Though you will probably sign an agreement for nine months or more, it is highly unlikely that the film studio will need to make shoots in your house every day. Some businessmen buy houses specifically to rent them to television companies, and you do not have to do anything as you already have a house. You can start by submitting your house as a probable shooting location with as many film companies as possible and earn up to a thousand dollars a day.
Rent out Your Garage, Basement or Attic for Storage
Commercial storage companies have hefty fees, and if you don’t store anything in your garage, attic or basement, you can rent them out to other people and make from $20 to $50 weekly, depending on the things stored. Of course, you will have to draw up a contract to decide what can be stored and for what fee.
Turn Your Basement into Living Space
Moreover, if you do not use your basement or don’t want to rent it out for storage, you can clean it up and turn into a living space to ensure that you receive a steady stream of cash every month from your tenants.