TEN WAYS TO MAKE YOUR HOME A MONEY SPIN­NER

Get the most out of your big­gest as­set

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BE­COME A HOME HOTELIER

Airbnb (airbnb.co.uk) is one of the eas­i­est ways to make money from your spare space or en­tire house. List­ing your room is free, and you de­cide the price and set the dates when it’s avail­able; then Airbnb takes 3% of what you charge. Rates vary de­pend­ing on what you of­fer and where you live, but there’s the po­ten­tial for earn­ing over £900 a month, for ex­am­ple, for a spare room in Lon­don. Go to airbnb.co.uk/host/ homes to work out what you could get for a room or your whole house.

Wor­ried about who’ll be stay­ing in your home? Al­though guests aren’t vet­ted, you can read re­views posted about them by pre­vi­ous hosts. It’s worth not­ing you’ll need to be con­tactable for any guests’ prob­lems, but if that sounds like too much hard work, try a co-host­ing com­pany that takes care of the ad, keys and guests. Airbnb now works with Air Agents (who take 17-22% com­mis­sion),

Pass the Keys (fees from 12%) and BNB Buddy (15% com­mis­sion).

GET A LODGER

Thanks to the Gov­ern­ment’s Rent a Room Scheme, you can let out your spare room for up to £7,500 a year with­out hav­ing to pay any in­come tax on your earn­ings. Ad­ver­tise on web­sites like jus­trenta­room.co.uk, spare­room. co.uk or mon­daytofri­day.com for part-time lets. Con­tact Ex­pe­rian for a back­ground check on a po­ten­tial ten­ant for £15.

TURN YOUR LIV­ING ROOM INTO A BOARD­ROOM

You can let out your rooms for com­pany away days, free­lancers look­ing for an of­fice or as a space for busi­ness own­ers to meet clients – open-plan homes or prop­er­ties with in­ter­est­ing fea­tures are the most pop­u­lar. If you live in Lon­don, visit vrumi.com, which rents out rooms to work­ers look­ing for of­fice space from £60 a day, with the com­pany tak­ing up to 15% com­mis­sion. Or space­hop.com runs across the UK, with users able to charge any­where be­tween £50-£400 a day plus a 10% host ser­vice charge.

RENT OUT YOUR CUP­BOARD SPACE

If your cup­boards are empty, some­one might be will­ing to rent them. The UK’S self-stor­age in­dus­try is the big­gest in Europe, and storenextdoor.com (where it’s free to list) and store­mates.co.uk (which takes 15% com­mis­sion to cover ad­min and in­sur­ance) can find you a ten­ant who could pay over £75 a month to keep their stuff in your cab­i­nets, garage or loft.

EARN MONEY FROM YOUR DRIVEWAY

Park­ing space is in de­mand, es­pe­cially if you live in a city cen­tre or near an air­port. Regis­ter with just­park.co.uk or parkon­my­drive.com and you could earn an easy £200 a month. It’s free to list on just­park.com but it takes about 3% of any­thing you make. Parkon­my­drive.com charges a £15 an­nual fee but nei­ther own­ers or renters pay any ex­tra com­mis­sion.

KICK-START A MATCH DAY BONUS

If you live near a sport­ing or fes­ti­val venue, you could score big by let­ting out a room or park­ing space to fans or even par­tic­i­pants. Events like the Ed­in­burgh Fes­ti­val, Wim­ble­don Ten­nis Cham­pi­onships and the Rugby World Cup are great money-mak­ers. You can make any­thing from £45 a night on ed­in­burgh­fes­ti­val­rentals.com, or try wim­ble­dontennislet­tings.co.uk, who pro­vide ac­com­mo­da­tion for play­ers, of­fi­cials and cor­po­rate clients.

MAKE YOUR HOUSE FA­MOUS

You don’t have to live in a stately home to rent out your house as a lo­ca­tion – mag­a­zines, TV and film com­pa­nies use or­di­nary homes, too. As long as you don’t mind peo­ple tak­ing over your home, you can earn more than £400 for a photo shoot and over £1,000 per day for film­ing. Regis­ter for free with a lo­ca­tion agency like goodspaces.co.uk, 1st-op­tion.com or light­lo­ca­tions.com. They’ll take a per­cent­age of your fee as com­mis­sion but or­gan­ise con­tracts and pub­lic li­a­bil­ity in­sur­ance.

BE A MAR­KET­PLACE MOGUL

Ac­cord­ing to re­search, we have an av­er­age of 53 items of un­worn cloth­ing and seven pairs of un­wanted shoes. Sell unloved items on a site like de­pop.com.

SHARE YOUR WHEELS

Don’t leave your car on the drive – let driv­ers hire it via whip­car.com. An Audi A3 can earn around £40 a day (Whip­car takes 15% of the rental fee plus VAT).

TRY A HOME-SELL­ING PARTY

Par­ties where prod­ucts are sold at some­one’s house are back in fash­ion. A pop­u­lar com­pany is Stella & Dot, which sells jew­ellery. Sign up to host a party and you’ll get free­bies and dis­counts. Be­come a stylist, and you can sell at other peo­ple’s par­ties and on­line, earn­ing 25-35% com­mis­sion. In just five hours a week, you can earn £374! You’ll need a £169 starter kit, but you’ll re­ceive on­line train­ing.

SAFE AS HOUSES

CON­TACT your home and contents in­surer to ver­ify poli­cies are still valid be­fore you sign up to any of the above. WHERE NEC­ES­SARY, check your home in­sur­ance in­cludes pub­lic li­a­bil­ity cover, es­pe­cially if let­ting. IN­FORM YOUR MORT­GAGE LENDER

about any new ven­tures to make sure you don’t breach the terms of your mort­gage agree­ment. NOT THE HOME­OWNER? Ask your land­lord for per­mis­sion be­fore list­ing your prop­erty on a rental site. IF YOU AL­READY re­ceive an in­come over the £11,850 tax-free thresh­old, you have to pay in­come tax on any ex­tra money you make – ex­cept if it’s through the Rent a Room Scheme.

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