An empty property means a potential loss of earnings for you while you wait to sell to sell or are otherwise out of the home. To get your property working harder, there are a number of ways to earn from your home when it is not in use. This guide will highlight some quick wins to help grow your bank balance, when waiting for that asking price offer.
Letting your home
The most common activity would be to have short term tenants letting the property until you receive an offer. Whilst a long let contract may yield larger returns, it does inevitably reduce the flexibility needed when trying for a quick sell, so shorter lets may be more suitable. London based onefinestay, a luxury home rental business allows homeowners to earn money from their property whilst they are out of town. Unlike AirBNB and other similar websites, the company manages all aspects of bookings and guest management, leaving you to get on with your other business.
(From onefinestay: a shot of Trinity Close in Clapham, South London)
Following an initial survey and assessment, the company will sign an agreement with you, and you would proceed to list your property on their website www.onefinestay.com. Following this registration, guests can be booked to stay in your home when you out of town, and you receive a payment at the end of the month for any stays accrued in your home over that time. The service is fully managed by onefinestay, including cleaning the property when guests arrive and leave, and also fitting out your home with clean towels, linens and luxury toiletries for guests staying there.
Rent car parking space
Land is still at a premium in Central London, so take advantage of yours, if you have it. Car parking spots in Mayfair have been sold for hundreds of thousands of pounds in recent years. For homeowners, renting out your car parking space is a rising trend and a fantastic way to earn a little more from your home.
Sites like Parkatmyhouse and Yourparkingspace are dedicated car park listing sites for selling your parking spot. The sites, which charge around 15% commission on the money you receive for each rental period, are a good way to generate money from an otherwise idle spot of land.
For something that costs you next to nothing to maintain, it is a simple way to earn a bit of extra money. Simply list your driveway on the sites and set your daily rate for parking. You can then receive enquiries from prospective renters and a deal can be made online.