7 household items people will pay to hire from you

Are you sitting on a gold mine in your garage? Perhaps you have a spare room you can rent out? Citro’s ingenious writer Carolyn Tate has come up with 7 things you can hire out to make extra money.

By Carolyn Tate

No matter what stage of life you’re at, expenses can pop up that surprise you. That carefully planned budget blows out and you’re wondering where you’re going to find the extra cash for that massive dentist bill/car repair/once-in-a-lifetime holiday/collectors edition Spiderman comic. Or maybe you just want a bit of extra cash to splash around on a regular basis. Who are we to judge?

Before you start sticking your hand down the back of the couch for spare change (and risk finding who-knows-what), you might like to apply a more lateral lens to your fundraising needs. What have you got lying around that could start pulling its weight to make you some extra cash? There are plenty of items that people will pay good money to use for a few days, or even long term.

If you’re concerned about staying safe and avoiding scams, here are a few tips:

• Use a third-party platform that handles the transaction for you and checks credentials
• Check ID yourself and keep records of all communication and agreements in writing, including a process for loss or damage
• Don’t meet at your home unless it’s necessary
• If you’re having someone in your home, ask for references and check them
• If you’re not using a third-party platform, ask for a security deposit
• Consider insurance that will cover you for loss, theft or damage.

Here are a few popular items you can offer for hire:

1. Tools and gardening equipment

Not everyone wants to invest in an expensive piece of equipment. Maybe they just want to use it as a once-off, or maybe they’re working on a budget, but if you’ve got a garage full of tools, you could be sitting on a goldmine. Some of the popular items to rent include chainsaws, pressure cleaners, hand tools, and agricultural machinery.

Where to list: RGA

2. Clothes

While not all clothes are appropriate for hiring out, if you have a closet full of designer labels and nowhere to go, hiring out your special occasion or corporate attire could make you some good money. The trick is to take great photos and make sure you offer as much information as you can to make your items stand out. Designer handbags and vintage pieces are particularly in demand.

Where to list: Lend The Label or Rent My Wardrobe

3. Spare room or backyard

If you’re the social type and you live in a great neighbourhood, you can make a fair bit of dough by letting out your spare room to travellers or people visiting for a night or weekend. Or you might like to find a more permanent flatmate to help pay the bills. If you prefer your privacy and you live on a larger property, you can also invite campers to pitch a tent or park their caravan for a smaller fee (if you supply basics like water and toilets you can charge more, but it’s not necessary). And if you prefer animals to people, you might also like to offer your secure property as an agistment location for someone’s horses - for either short- or long-term stays.

Where to list: AirBnB (short-term rooms), NZ flatmates, Hipcamp (camping), or Equine Trader (horses)

4. Storage

Okay, this isn’t an item so much as a lack of items in your space, but you don’t need to be sitting on a giant unused warehouse to offer up storage space for rent. A garden shed or garage could be just the thing for someone who wants to avoid spending up big on commercial storage lockers to store their car, boat, furniture - or whatever they can’t fit in their home. You might need to ensure pests and moisture aren’t a problem, but once you’re on top of that, you’re good to go.

Where to list: Any Space NZ

5. Car

If you have periods of time where you’re not using your car, you might like to offer it to your neighbours for a fee in your down time. Simply list it on a reputable platform and block out the times you’ll need it for yourself. Drivers will be checked, and you’ll be covered by the car share company’s insurance. Easy!

Where to list: Go Rentals NZ

6. Boat or campervan

If you have a boat or campervan sitting in your backyard, you know they’re not cheap! And while we all make those big purchases with every intention of getting out every single weekend, life gets in the way and sometimes it might not happen. Why not list your boat or campervan for those times you’re not using it, to help justify that expense? If you’re not ready to let it out to strangers, even offering it to friends and family could be a nice little earner.

Where to list: Get My Boat or Camplify

7. Sport, leisure and lifestyle equipment

You don’t have to think big to find something to rent out. You might be sitting on a whole lot of items that people would happily pay to use for a week or a year. Sometimes people might want to try something for awhile before they invest in them, such as musical instruments, snowboards, surfboards, or sewing machines. Or perhaps they only need them for a short period of time, such as baby equipment, bicycles, or camping equipment.

Where to list: Facebook Marketplace

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This article reflects the views and experience of the author and not necessarily the views of Citro. It contains general information only and is not intended to influence readers’ decisions about any financial products or investments. Readers’ personal circumstances have not been taken into account and they should always seek their own professional financial and taxation advice that takes into account their personal circumstances before making any financial decisions.