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Many people are now looking for reliable passive income methods. The so-called passive income is the way to achieve a reliable and stable income even if it takes a small amount of time. Doing questionnaires, playing online games and other ways to make money are not suitable.
Since one of my garages has been unused, is it possible that we can use the unused space for rent? So I found Neighbor.com. I recorded it during my investigation to see if this site is reliable. Let us know more to decide if it’s right for you.
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Why should I rent out my space?
First of all my garage is so unused that the neighbors ask me from time to time if I can put their extra stuff there. Of course, you can, but it’s free. After about half a month, I felt that I needed to charge my neighbor’s storage fee. I came across Neighbor.com when I was searching the web for this practice. I directly price the garage space for storage and explain to my neighbors that my warehouse is leased.
I can earn passive income from unused space, so why not?
What is Neighbor.com?
Neighbor.com was founded in 2017 and is headquartered in Leahy, Utah. Neighbor.com looks to increase monthly passive income by renting out unused space to people nearby
Its range of storage space includes but is not limited to garages, gardens, storage rooms, sheds, etc. If you have more outdoor space, it can also be used for rent.
Here are the regions where Neighbor is available in the US:
Who should use Neighbor?
If you have extra unused storage space and are looking for a solid passive income method, congratulations! The neighborhood is great for you to use.
Inevitably, you’ll occasionally need to interrupt your daily life as a landlord, but it’s worth considering passively earning at least $100 a month in a safe way.
How much can you make with your neighbors?
It’s hard to summarize how much each person will earn on their neighbors, as it depends on the size and type of space you’re renting out to your neighbors. Not only that, but your rental success rate affects your monthly passive income.
But it’s easy to judge how much money you can make with each type of space based on what your neighbors are renting out.
- Garage: Potential earnings of $100-$600 per month
- Lane: Potential earnings of $50-$150 per month
- Spare room: Potential income of $100-$200 per month
- Shed: Potential income of $50-$200 per month
- Parking space: Potential income 50-300 per month
Posting space rental information on Neighborhood is free! All you have to do is take professional photos and promote your rental space on social platforms to attract more attention and rental.
What space can you rent out to a neighbor?
Everyone should have a little extra unused space in their home, no matter the size of the place, you can choose to be a landlord!
Neighbors accept most types of vacant space, the following are some of the more common spaces
- Garage
- Lane
- PARKING LOT
- Basement
- Storehouse
- Attic
- Spare room
- Container
How do I use my neighbors to rent out space?
6 Simple Steps to Successfully Leasing Your Space
(For detailed step-by-step instructions, please check here)
- Create a new Neighbor account for free and complete your profile
- Multi-angle photography of professional idle space
- Post a list
- Actively respond to renter information
- Successfully sign the contract and arrange check-in
- Get paid
How much do neighbors charge?
Although you are free to list your rental information on the neighbor, the neighbor is charged a commission, which is used to pay the neighbor’s entire website operation cost.
Neighbors charge a 4.9% commission + $0.30 per month.
You will be paid 3 to 5 days after the end of the rental period, net of fees.
What safety and protection do neighbors provide?
Landlord Guarantee Guarantee
Neighbors provide all landlords with a $1 million Landlord Guarantee to obtain a claim in the event of any personal liability with the renter during the tenancy process that cannot be resolved peacefully. When you successfully rent out the space, you will automatically enjoy the landlord’s guarantee, no need to sign any additional contracts.
Note that some things are not covered by the host, such as:
- Property loss
- Insurance deductible
- Damage or personal liability claims not related to rental storage activities
Safety
Neighbors are strictly prohibited from storing the following items for the safety of the landlord, including
- Flammables, explosives, fuels
- Harmful materials
- Perishables
- Stolen item
- Drugs or any illegal substance
- Weapons and ammunition
- Pesticides or other toxic chemicals
Money protection
If the renter stops paying rent, the neighbor guarantees that the renter’s belongings are still in the storage space to receive up to 2 months of compensation. Landlords have the right to cancel the tenancy agreement, but make sure to give the renter 30 days’ notice or you will pay a breach fee.
Is Neighborhood a legitimate app?
One of the best ways to judge whether an app is legitimate and genuine is to look at the reviews of real users on the Internet. reddit and trustpilot are the best sites to check reviews.
By checking, it can be found that most users give positive comments because they earn passive income. And most of the problems with negative reviews focus on complaining that there is no way to earn passive income without finding a tenant.
At the same time, Neighborhood was established in 2017 and has been operating for 5 years, which shows that Neighborhood is a legal and compliant website.
Summarize
It is very easy to use neighbors to earn a passive income of at least $100 per month, the main thing is how to let the right renters know the information. This requires you to actively promote your posts. In addition, you need to price appropriately according to your space, and the price is too high is one of the important reasons for the failure of the lease.
But neighbors are completely free to post, so why not give you a try? I successfully rented out my garage in 2 weeks and I’m sure you can too!
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