Neighbor :: Make Money With Your Unused Space

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This post has been sponsored by Neighbor. All opinions are 100% our own.

A few years ago my husband and I purchased a storage shed for the side of our house. It had one purpose — to store all of my event business belongings and get the clutter out of our house!

It stored banquet tables, folding chairs, and decorations for a variety of seasonal events. Fast forward 5 years later, we’ve found ourselves selling a majority of the items and were left with a fairly expensive investment with no purpose.

We’ve played with the idea of using it as storage for outdoor tools and lawn equipment, but where the shed is placed doesn’t provide us with easy access to our lawn. In the Texas heat, we don’t want to place any valuables or perishable goods in the shed.

I’m sure in a few years we’ll find a purpose for it again, so we’ve decided against selling it. So, for right now, on the side of our house it sits. Empty and unused.

That’s when I discovered Neighbor.

What is Neighbor?

Neighbor is an APP-based service that helps hosts make use of their unused spaces with a little passive income and renters find a friendly home for their things. Neighbor handles the negotiations between neighbors and collects the payments, and at the end of it all the host gets paid for space you already own!

Let’s say someone has an extra space in or around their home that they’re not using — think attic space, extra bedroom, extra garage, or unused shed. Another family can rent that space for their short-term or long-term needs. Maybe they’re moving across town before their house is ready or someone is in the process of remodeling a room, Neighbor provides an easy solution that could save the renter up to 50% less than a typical self-storage unit. It’s a “win-win” for both parties!

What Type of Spaces Can You Rent?

Neighbor doesn’t just focus on residential rental spaces, but encourages you to think BIG when it comes to spaces you’re not using.

They allow hosts to list extra parking spots, vacant lots, covered garages, pieces of land, and concrete pads. These are great rental spaces for RV’s, boats, motorcycles or car storage. Seasonal homes or lake lots are also ideal locations for Neighbor rentals.

If you’re a business owner, Neighbor even allows for building owners to make use of their extra warehouse space, extra offices, or parking garages.

How Does It Work Exactly?

For a host, you’ll be required to share some specific information to help a potential renter ensure the space they’re looking at meets their needs.

Information includes: accurate measurements, the type of space, where it’s located, and the amenities it might have. Don’t worry! Your personal information is NOT given away to anyone!

Since you’re renting personal space, you’ll want to think ahead about a few details:

  • How frequently would you like to give the renter access to the space? Daily, Weekly, Monthly, or Infrequent (less than once per month).
  • When can the renter gain access? You can set specific rules by selecting daytime hours, evening hours, or 24/7 access. You can even request that approved renters simply contact you when they need in.
  • What amenities are you providing the renter? Is it climate controlled? Are there smoke detectors? Is it locked? Is there a private entrance?

Finally, you’ll be able to select a rate you’d like to charge for the space you’ve listed. Based on the data you provide, Neighbor will provide you with a recommend per month rate to help stay competitive (& show the price you’d get paid), but ultimately you get to decide how much you want someone to pay!

Add in a description and a few photos, and Neighbor will take care of the rest!

Am I Protected If Something Goes Wrong?

Since Neighbor is based on utilizing your neighbors for help, there’s a huge element of trust between hosts and renters, but Neighbor does its best to ensure all parties are as protected as possible.

Neighbor’s Host Guarantee provides each host up to $1,000,000 general liability protection at NO additional cost! This protects you from personal liability claims from Neighbor storage renters or their authorized parties.

Neighbor also provides renters with a $25,000 Renter Guarantee in the event your registered, qualified items or vehicles are damaged or stolen.

In the event that something does happen, Neighbor will help you file a claim and collect all the appropriate documentation. But be sure to check their website as there are just some items they can’t cover like collectibles, artwork, and jewelry.

If you’d like to learn more about Neighbor and how they’re matching people’s empty space with other people’s extra stuff, visit their website OR download the app from The App Store or get it on Google Play.

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