How to make an income from renting your unused space at home

After the news that Brits will be facing an unprecedented increase to energy bills – equivalent to 54% – Stashbee, the UK’s leading peer-to-peer marketplace for storage space has provided guidance on how Brits can earn passive incomes from the spare spaces in their home. With the potential to offset some of the increasing costs of living, Stashbee has provided a breakdown of the average incomes Brits could earn on the platform according to the most common spatial archetypes in UK homes.

Basements
Although uncommon in new build houses, basements have superb storage space potential. Through Stashbee, the average renting costs of basements is £0.91 per square foot, with an average earning potential of £181 per month.

Garages
According to the RAC, there are 5.7 million dormant garages in the UK. With an average cost of £0.94 per square foot, Brits can earn on average £147 per month through renting out their garage space.

Lofts
Providing considerable space, and at high value, the earning potential from renting lofts could be extremely lucrative. Through Stashbee, the average price per square foot for a loft is £2.70, meaning that on average, Brits can rake in £891 every month from renting loft space.

Spare Rooms
With approximately 18.6 million spare rooms in the UK, renting out these spaces could provide passive incomes for a wider critical mass. With an average cost of £0.73 per square foot, Brits on average earn £83 per month renting their spare rooms as storage space on Stashbee.

Parking Spaces & Driveways
With thousands of parking spaces and driveways available on Stashbee, Brits have been cashing in on renting their empty spaces to those looking for cheaper alternatives to annual subscriptions for parking, and earn on average £213 per month.

Sheds
A staple of a British garden, sheds provide secure storage spaces for those who may not have spare space within their homes. The value of renting sheds via Stashbee also provides excellent earning potential for Brits, with an average price of £2.35 per square foot providing Brits an average income of £1,455 every month.

How Does Stashbee Work?
Stashbee is the UK’s leading online marketplace for storage and parking. With thousands of unused garages, parking spaces and other empty spaces listed by “Hosts’, Stashbee makes it easy to find and book storage and nearby. After finding the storage facilities local to your postcode, Stashbee allows customers to filter searches by selecting features you want the space to have, by size, or by price. Choose when you’d like to start your booking and that’s exactly when your rolling monthly booking will start.

Anthony Paine, co-founder and CEO of Stashbee comments on the relationship Brits have with space.

“Physical space is a fundamentally scarce resource – there’s a limited amount on planet earth. Urbanisation, globalisation, population growth, increasing cost of living and property price inflation are just some of the factors making it harder for people to find spare space at an accessible price, where they need it, and with the access and security features they require.

“Stashbee solves this problem by providing a simple, smart and sustainable way for people to store their things locally, whilst also empowering people with space to become micro-entrepreneurs.”