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Investments are almost never about earning smart, easy money. If it’s smart, it’s probably not all that easy, right? Homeowners know buying a house can earn them money over the long haul, but few are under the impression that money will just fluidly roll into your bank account on its own simply through that investment.
In fact, when A/C breaks or plumbing backs up or critical home improvements need to be made, a home can often feel a lot more like a liability than an investment. Thankfully, there are ways that a home can help keep money funnelling into your accounts rather than siphoning in the other direction.
Neighbor is one way home and property owners can keep their homes profitable — by turning their unused excess space into profitable rental space for someone else in your community.
Neighbor is a turn-key, fully automated platform that makes it easy for a homeowner to make any unused space profitable. Whether it’s a corner of the garage, an attic or basement, a hall closet, or even outdoor areas like a driveway or a storage shed; if you own it, you can rent it out on Neighbor.
It starts by opening a Neighbor account and building a profile for your proposed space. Offer measurements, include a picture or two, figure out your terms, and set your price. Once your listing is live, potential space renters can apply right through Neighbor. The site will even help you screen your applicants, ask them important questions, and establish rules.
You set your own rates and come up with your own procedures for moving stuff onto your property and how it will be maintained and accessed. Once you both agree, then all you have to do is receive your rent money each month, whether it’s 50 bucks to stash your neighbor’s skies and leafblower in your garage, or maybe $250 a month to pack someone’s boat in your driveway.
Neighbor also makes sure both sides in any renter-rentee relationship are safeguarded. As the one renting your empty space out, you are protected with up to $1 million in property coverage that might occur from those items, while renters can receive up to $25,000 if anything is ever lost or destroyed. But considering a Neighbor rental situation is up to six times safer than an ordinary storage yard, those looking to keep their things secure in someone else’s home or space couldn’t find a better option.
Meanwhile, homeowners don’t need to become landlords cashing rent checks either. Neighbor has that whole process under control as well, facilitating payments, depositing that money into the space owner’s account, and even covering the tab themselves if a renter ever defaults on their responsibilities.
For a spare room you never use, a crawl space that’s wide open, or a side lot that’s only home to weeds, many homeowners are finding hundreds, even thousands of dollars annually in passive income from their Neighbor relationships.
Users can set up a Neighbors profile now and find out for themselves in hours just how much they can make from all their unused space.
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