Feeling a bit strapped for cash? Lend out your stuff.

12 June 2013

We could all do with a bit of extra cash sometimes, and once you’ve factored in eBay and Paypal fees, sometimes selling your stuff isn’t actually worth it. So why not rent it out instead?

If you have a bike that you really are going to use one day, or an empty garage just crying out to be filled with someone else’s stuff, you need to jump on the peer lending bandwagon and make your stuff work for you.

This week, six different companies offering this kind of free way to make money joined forces to promote their services via a combined website, thesavvyearner.com, where they offer a free downloadable guide,  and claim you can earn an extra £2,638 a month* by getting cash for stuff you don’t use.

The six sites included are:

bw rentRentmyitems.com, which allows you to rent your unused stuff, like a bike, kayak or Superman costume to people for a weekly fee, plus returnable deposit. Currently free, the plan is to start charging 8-10% of the rental fee.

Storenextdoor.com, which offers parts of your house (loft, garage) out to people who have too much stuff that they are not renting out and need somewhere to store it (insured by Aviva). Free to list, the renter pays 23% fees which include the insurance which is added to the price you specify.

Parkatmyhouse.com, which lets you rent your driveway to motorists. More than 250,000 customers are said to use the service, earning on average £40 a week, more if you live near public transport links or a hospital with extortionate parking charges.

Spareroom.co.uk, which helps you find a lodger (Shallow Grave anyone?). Average UK room rents are around £114 per week for a double room including bills- but don’t forget you can take advantage of the Rent a Room scheme which allows homeowners to earn up to £4,250 a year tax-free.

Gocarshare.com connects empty car seats and lonely drivers to save money on petrol (important) and save on CO2 emissions (not so great for money saving). Currently free, the site is mostly used by young type people going to festivals and the like, who could probably save more money by not going to said festival, but staying indoors for a weekend without washing listening to the cd.

Taskhub.co.uk is the 21st century equivalent of Bob a Job. "Task requestors" list the task they want done and the price they are prepared to pay, while "task doers" search the posts for jobs they would like to do and bid for those they want, saying how much they would like to be paid.

But finally, don’t forget that any of this lovely extra moolah (except rent a room) you make all ought to be reported to the taxman as additional earnings- after all, you *are* doing it to make money, no?

*actually even they say that the £2,638 figure is “unlikely”  as most people won’t “have the spare time and capacity to do all of these things at once”.

TOPICS:   Mortgages


  • Dick
    With council cutbacks meaning unessential services like public toilets closing, we now need shitinmytoilet.co.uk
  • Alexis
    "But finally, don’t forget that any of this lovely extra moolah (except rent a room) you make all ought to be reported to the taxman as additional earnings- after all, you *are* doing it to make money, no?" What, like Google would you mean?
  • Mustapha S.
    Easy to get round it, Alexis. Set up a company abroad, have payments go to them, or use one of those 3rd party firms that take a 5% commission and you can get paid by e wallets or even various anonymous methods. If its good enough for Google...
  • Mustapha S.
    Why is my comment awaiting moderation? Oh yeah, forgot to add the obligatory swear word and mention of foxes. Fuckwits.
  • _Me_
    Thing about the parking one is that most of the ones near airports are clearly just taking the piss. I saw one near Bournemouth airport which said something about "We'll come and pick you up possibly" and yet was about £1 cheaper than the official parking which is about 100ft away from the front doors
  • Aurore
    Hello Sam, I noticed all the logos on the right hand side (pictured and saved as one image) are hyperlinked to one website only (rentmyitems). Interesting piece, I like the tone :-)

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