Author Topic: How to make money from a spare room without subletting it?  (Read 1897 times)

nora

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We rent too much house. We have a spare room. Lease lasts to next march. I got this idea we could rent it out on airbnb but we asked and our landlords said no, due to the conditions of their insurance.

Does anyone have any ideas for a side hustle by which we could make money from our spare room but without subletting it?
« Last Edit: May 04, 2015, 07:50:23 AM by Nora »

plainjane

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Re: How to make money from a spare room witout subletting it?
« Reply #1 on: May 04, 2015, 07:19:58 AM »
Offer it as storage to friends/friends of friends?  Carry inventory on another side hustle?  Private yoga studio for an independent instructor (this might be an insurance nightmare as well due to personal injury coverage, but they should cover that)?

EfficientN

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Re: How to make money from a spare room witout subletting it?
« Reply #2 on: May 04, 2015, 07:32:41 AM »
To clarify, your landlord was against doing short term AirBnB subletting, but what about subletting for multiple months at a time with the same tenant? Something like a 6-8 month sublet.

nora

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Re: How to make money from a spare room witout subletting it?
« Reply #3 on: May 04, 2015, 07:47:07 AM »
I didn't ask about a sublet to a longer term person, mostly because my Mum comes to stay for about two weeks every six months or so, and she sleeps in there and for some reason she won't stay anwhere else. There are occasional other visitors also. But really, they can all go stay somewhere else, as can my mum, so renting it longer term would be a pretty good option. It is about 2.5x2.5m and has a built in wardrobe and carpet. I love the storage and inventory idea too thanks!

waltworks

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Re: How to make money from a spare room without subletting it?
« Reply #4 on: May 04, 2015, 08:03:05 AM »
We rent too much house.

I think you just answered your own question, there.

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nereo

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Re: How to make money from a spare room without subletting it?
« Reply #5 on: May 04, 2015, 08:11:23 AM »
One idea - turn it into a home office.  That at least makes that portion of your rent deductible as a business expense.   ... of course, you actually have to have a business need for a home office.

Otherwise....
subletting it long-term will probably give you the most bang for you buck.  A year's rent will more than cover a few weeks for your mother to stay in a nearby hotel/motel/airbnb.
or
(illegal) grow pot.
or
start a hobby which takes advantage of the extra room. Photo studio?  sewing room? bike-repair shop? Up to you what that might be.  Stop thinking of it as a bedroom and start thinking of it as just a physical space.
 

zurich78

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Re: How to make money from a spare room without subletting it?
« Reply #6 on: May 04, 2015, 08:28:17 AM »
Print counterfeit money in it?  Haha jk.

I was going to say home office, but, while YMMV, there are laws I believe around how long you spend in it, etc.  You can't just put up a desk, chair and computer and then write off the relative sq footage of that room.