Ideas for Maximizing the Potential of Your Space. What can you rent out?

In today’s economy, renting out unused spaces in your home can be a smart way to generate additional income. From home gyms to gardens and home cinemas, there are plenty of opportunities to transform your living areas into desirable rental spaces. You might not even realise the potential of the space around you. Any space can be rented out, it just needs a little bit of shaping, and thoughtful preparation. This article will explore which spaces you can rent out and how you can make them more appealing to potential renters.

1. Home Gym: Turning Fitness into Profit

Do you own some gym equipment? Then we have some good news for you! With fitness trends on the rise, a home gym can be a sought-after rental space. Renting out your home gym will not only help you generate extra income but can also help you find a gym buddy. Here’s how to make your home gym appealing:

Modern Equipment: Ensure your gym is stocked with up-to-date, well-maintained equipment. A mix of cardio machines, free weights, and mats will cater to different workout preferences.

Ambiance: Good lighting, mirrors, and a quality sound system can create an inviting workout environment. Consider adding fans or air conditioning for comfort.

Extras: Offering additional services like personal training sessions, nutrition advice can add value but is definitely not necessary.

2. Garden: An Outdoor Space for Events

If you own a garden you can easily transform it into a cozy space for hosting weddings, corporate events, parties, and gatherings:

Maintenance: Keep your garden pristine with regular lawn care, vibrant flowers, and clean walkways. A well-maintained garden is always more visually appealing.

Amenities: You can provide outdoor furniture, BBQ grills, and decorative lighting to enhance the experience for guests.

3. Apartment: Cozy Short-Term Rentals

A spare apartment can be an ideal short-term rental or vacation spot:

Comfortable Furnishings: Ensure the apartment is well-furnished with comfortable bedding, kitchen essentials, and reliable Wi-Fi. Make sure to list all these amenities on the app when publishing your space - it will make your listing more appealing to the guests.

Unique Selling Points: Emphasize unique aspects of your apartment such as special views, proximity to attractions, or stylish interior design in the description of your space.

Cleanliness: Regular cleaning and maintenance are crucial. Make sure the space is clean and ready for the guests.

4. Home Cinema: A Private Movie Experience

A home cinema can offer a unique rental experience for movie enthusiasts, families, friends, or corporate groups looking for a private, exclusive movie night experience. If you have an empty space that provides some privacy, you can consider installing a TV and advertising it as a home cinema. These are some crucial aspects you should prepare:

Quality Setup: Invest in a projector or a big TV, surround sound system, and comfortable seating. The better the movie-watching experience, the more attractive it will be to renters.

Additional Features: Enhance the experience with some popcorn, a variety of films, and cozy blankets.

5. Game room: Private Gaming Sessions

If you own many fun video games, board games, or even gaming consoles, it can be an attractive rental option for gaming enthusiasts, for private gaming sessions, themed game nights, or birthday parties:

Variety of Games: Stock your game room with a wide range of video games.

Comfort and Ambiance: Ensure the game room is comfortable with cozy seating, good lighting, and a cool environment. You can add bean bags, gaming chairs, and themed decor to enhance the gaming experience but it is of course not mandatory.

Extra Amenities: You can offer additional amenities like a mini-fridge with snacks and drinks, a sound system, and fast internet to make your game room more appealing.

6. Music Room: A Practice Space for Musicians

If you own some music instruments you can advertise your space as a music room. A well-equipped music room can be an attractive rental for musicians, bands, or anyone looking to practice or record music:

Quality Instruments: Ensure that your instruments are in good condition, and tuned.

Comfort and Atmosphere: Create a comfortable and inspiring environment with good lighting, privacy, and some basic decor.

Additional Services: If you have some recording equipment, a microphone, or other devices, make sure to let the guests know as it will make your space more appealing.

7. Basement: A Multi-Functional Space

Basements can be transformed into rental spaces for various purposes, such as home cinemas, home gyms, a music room, a space for events, workshops, presentations, cooking classes, etc. This is what you should do if you would like to rent out your basement:

Renovation: Ensure the basement is well-lit, ventilated, and dry. Consider finishing the basement if it’s currently unfinished to make it more appealing.

Purpose: Depending on the space, it can be turned into a game room, a home office, or even a small apartment. The versatility can attract a wide range of renters.

Amenities: Furnish the space according to its purpose. For example, a game room could include a pool table, gaming consoles, and a mini-fridge, add a TV screen or a projector to convert it into a home cinema, set up the gym equipment for a home gym, tables and chairs for an event space, etc.

Renting out an empty space is beneficial for both hosts and guests. It is a great way to make some extra money, meet new people, make use of the available but unused space, and help others by providing them with an unforgettable experience at your amazing space! Renting out a space is much easier than you might think and at Cocom we are always ready to help you with it!