Could your house be earning you some valuable income? In the world of Instagram and Airbnb, there are plenty of opportunities to profit from your property.
Rent out your home on Airbnb
Bring new meaning to ‘you treat this house like a hotel’ and earn up to £3,100 a year from renting your house out for just four nights a month. If you live in an area near an event or stadium, this can rise significantly.
It is important to check you are eligible first, as rules apply based on who owns your house.
Take in lodgers
You could earn up to £5,593 per year, rising to £7,667 in London, by renting out your spare room. An added benefit is that under the government’s Rent a Room Scheme, you won’t pay tax on the first £7,500.
Bear in mind that if you are renting your home, you will need the landlord’s permission. You will also need to let your home insurance provider know and your local authority as there may be cost implications associated with having a lodger.
Turn your sofa into a film star
You could earn up to £1,000-2,000 a day by allowing film or television agencies to use your home to film scenes. To get started, you will have to sign up to a location agency, which is usually free – and they will contact you if they wish to use your house.
If you are happy for equipment and film crews to be in your house, this could be an easy money maker.
Rent your driveway
Renting your driveway is a great way to earn some extra cash with minimal effort. In 2018, driveway owners collectively earned more than £15m from renting spaces on their driveways to commuters. Demand is typically higher in big cities or homes near train stations and airports.
Become an Instagram influencer
In the age of Instagram, anybody can be an influencer. Take Mrs Hinch for example, her 2.6 million followers watch her as she cleans her home and recommends products. She has even released a bestselling book, which if you haven’t already guessed, is all about cleaning the home.
Are there any other ways to turn your home into a side hustle? Let us know in the comments!