Amelie Mahone is a loving wife and a mother of three. She loves to read about history and write articles on various topics, such as: business, education, history and teaching. In this piece, she explains how you can use an empty garage to earn money.
If you have an empty garage full of junk that’s gathering dust, you may be ignoring an asset that could make you some money.
The sharing economy is growing substantially. This collaborative consumption is helping small businesses to save money and individuals to make the most of their resources. Online communities are forming and allowing people to share their assets for a profit. Airbnb is a prime example of the kind of websites cropping up to help pair renters with rentees.
This all means that it’s easier than ever to turn empty space into a money spinner. And with a space as big as a garage there are lots of options to choose from.
So how can you make use of your empty garage?
1. Rent it as a parking space
If you don’t need your garage for your own car and the space is easily accessed from the road, you could choose to rent it as a long term parking space to someone who commutes to your area. You could also offer short term rentals, particularly if you live near a city centre, a sports stadium or event venue. Parking space in many cities is at a premium so take advantage and advertise your empty space.
2. Rent it as storage space
You’ll probably have less coming and going from your property if you rent out your garage as storage space. Whether they’re off travelling or being seconded to another city, people regularly search for storage space when they’re in between accommodation. There are many companies that can help you to market your space and find people looking for a place to keep their stuff.
3. Turn it into a workshop
If you have the means to invest a little into your garage, you could transform it into a workshop space fit for an artist, a repairman or a tradesperson. Getting one long term let or lots of shorter ones will give you a decent income.
4. Have a garage sale
Gather all of the bits and bobs you don’t use from around the house and set up a stall in your garage. Put a sign out at the front of your house to tell passers-by that you’re there. Get a money box with change and some tables on which to display your wares. You’ll get rid of lots of old junk and make some money in the process.
5. Rent it as a pop up venue
Many small independent businesses are choosing not to rent or purchase their own premises. Instead these companies are creating so called pop-up events in original spaces, avoiding the commitment of a long term let. Depending on the location of your garage, businesses and entrepreneurs may be interested in renting your space for a pop-up vintage clothes shop or a pop-up art exhibition.
6. Turn it into your own business space
If you have an eye for antiques or are handy with electrical appliances, you could start your own business from home, using your garage as storage or work space. Keep stock in the garage or kit the space out as a workshop. You may also be able to get some tax benefits for using your home as a workspace.
It’s always worth checking with local authorities and your mortgage provider before you make any big changes to the way you use your property. However, all being well, there are plenty of ways to make money from your empty garage space. With the right online presence and the right space, the possibilities are endless.
Do you have empty garage space? If so, what do you use it for?
Written by Amalie Mahone.