There is often a common saying that goes around, “the more things you own, the more they own you.” This reflects the consumer mindset we have, where more is less. However, in the wake of passive income, people are now breaking shackles from merely consuming; they are now looking to turn the products they own into things they can now generate revenue from.
People are now getting onto the bandwagon of renting things. There are things you might need for just a day or two and never again. Why would you buy it when you can rent it?
There are others who are looking to use the things you own for just a day or two. Here is a list of things you can rent out.
Things you can rent out
- Clothing, handbag, shoes and accessories: It could be a dress or a gown, heels, a jacket, or maybe just a cap. There are people who need it for just a night-out, a prom, or maybe just a date. They need to be dressed to the nines, and usually are on a shoe-string budget. That’s where you come in as a saviour.
- Bikes, surfboards, snowboards: Maybe there are tourists coming to your part of the town and are not willing to buy things because of luggage restrictions. They just want to have fun and let’s be honest, you have not been treating that bike or surfboard well enough. Let it be used and generate some money for you.
- Cars, vans or vehicles: Let’s say, you live too close to your workplace and there is barely any usage of your vehicle you own. Might as well rent it out. GetAround is a good service that allows peer-to-peer car-sharing service.
To wrap this up
There are things you own that have intrinsic value. It is about time you put them to good use and generate some passive income in the meanwhile.