How To Earn Money From Home In Usa

How to make money from your home: Using your home to generate funds is a growing trend. Known as 'passive income', it means you can raise cash without having to do very much. But what most people don't realise is that their home is possibly the most lucrative money-making asset they own. Here are a list of ways to help you earn money from your home.

Here's how to get started...

1. SPARE BEDROOM

Renting out a room means that lodgers benefit from an affordable place to stay, often on a Monday to Friday basis, and householders can earn up £7,500 a year tax-free, or half that amount if you plan on splitting the income with someone else. It's open to both homeowners and tenants. The tax exemption is automatic if you earn under the £7,500 threshold, although you'll have to complete a tax return if your rental income is over that amount. For more information, visit gov.co.uk/rent-room-in-your-home.

2. Airbnb

If you don't fancy a full-time lodger, you may want to try short-term letting websites such as AirBnb or HomeAway. You can let out a room – or even your entire property – to holidaymakers for potentially hundreds of pounds a night. If you go down this road, speak to a tax adviser, as often the tax situation isn't as clear-cut as letting out your property long-term.

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3. STORAGE SPACE

Your cellar, loft or garage space could be used by people looking for storage. According to stashbee.com, a 'storage host' with room for 20 average-sized boxes could potentially make £960 a year. 'Storage guests' are subject to ID checks, and belongings are insured.

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4. WORKSPACE AND EQUIPMENT

Consider allowing workers or students to rent space at your home to work, study or hold meetings. This could be your home office, garden room or dining table. Rates range from £50 to £250 a day. Check out day rental specialists spacehop.com, vrumi.com and officeriders.com for details. If your home has a piano or recording equipment, you could also offer that for hire through rentnotbuy.co.uk.

home office ideas l luxe home office decoration ideas

House Beautiful/Mark Scott

5. KITCHEN

If your kitchen is quiet during the day, take advantage of the explosion in food start-ups and private catering in recent years. Kitchen2rent.co.uk matches available domestic kitchens with those who need a place to create.

Open plan kitchen and dining area in residential house, UK

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6. GARDEN AREA

Guests might pay to camp in your garden! Campspace administers more than 1,000 micro-campsites across the globe. Typical rates range from around £5 to £10 a person for a night. Alternatively, if your garden has space for a vegetable plot, you could advertise it as a private allotment.

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7. PARKING

Don't forget your driveway – if you live near a station or sporting venue, you can advertise parking for rent on a website such as justpark.com or yourparkingspace.co.uk. 'If you're a car owner and a commuter, you'll know how much of a pain trying to find a space in the morning near the train station can be. However, if you have space on your driveway, why not put it to good use by letting it out? How much you get depends on where you live, but according to website Parklet.co.uk, you can earn anything up to £200 a month by hiring out your driveway,' explains Jessica Boyle from Nutmeg.

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8. RENT YOUR HOME TO FILM & TV COMPANIES

Is the décor of your home truly spectacular, or even a little unusual? If you think your home has character and the potential to be on the big screen, then consider signing up with a film locations agency. You could earn thousands of pounds by allowing a film crew into your home – see how homeowner Sommer Pyne fared when her house became the set of BBC's crime drama McMafia .

Tim Young

9. YOUR CAR

If your car sits on your driveway all day, consider peer-to-peer car sharing – letting other people pay to use it. Companies such as easycarclub.com subject all borrowers and lenders to rigorous checks, as well as also providing insurance and breakdown cover.

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THE LEGAL SIDE

Many of these moneymaking ventures are very new, so tax rules have not necessarily caught up with them. However, if you use your home to generate a substantial amount of income, you'll need to inform Her Majesty's Revenue & Customs (HMRC) as well as your mortgage company, landlord and insurance provider. For more information, go to gov.uk and search 'tax'.

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From: House Beautiful magazine. Subscribe here.

Jayne Dowle Freelance homes and property writer Jayne specialises in advice stories for House Beautiful magazine and writes about a wide range of topics, from gardening and DIY to decluttering and mindfulness.

Olivia Heath Executive Digital Editor, House Beautiful UK Olivia Heath is the Executive Digital Editor at House Beautiful UK where she's busy uncovering tomorrow's biggest home trends, all whilst delivering stylish room inspiration, small space solutions, easy garden ideas and house tours of the hottest properties on the market.

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