On Channel Nines Today Show this morning , Karl Stefanovic and Effy Zahos (from Money Magazine) discussed a variety of ways that people can make money from home by renting things out and earning cash.  They discussed a variety of online services that make it easy for you to earn some extra cash by renting out things that you own.  Things that could be rented out include :

• specific items (e.g. power drill, ladder or lawn mower)
• unused space (e.g. empty shed, garage or bedroom, that could be rented out for storage)
• a spare apartment or bedroom , which could be rented out for short term accommodation

Rent Out Spare Space

If you have spare, unused or wasted space in your home or business, you could turn it into cash, by renting it out for storage, parking or even business or commercial use – literally making money out of this Air.   SpaceOut allows people to advertise their spaces for rent  anywhere in Australia, and make it easy for people looking for space to find and contact you to arrange rental.   You can Create your Space for Rent Lisitng right now.

Rent Out Things

Services like Rentoid and OpenShed allow you to rent out specific items, such as mowers, ladders,surfboards – and pretty much anything else you can think of.  It’s a great way to make some money on things that you own but don’t use very much.  One thing to keep in mind though (as Karl said) what happens if they rent it and break it.  Make sure that you either take a deposit or have an agreement in place in case this happens.

Rent Out Accommodation

If you have a spare bedroom and don’t mind sharing your home with strangers (which could be interesting) you can use online services like AirBnB – a community marketplace for people to list, discover, and book unique accommodations around the world