In today’s economy, everybody needs to earn an extra dime to make the ends meet or to save for your future needs. There are a lot of ways for people to earn extra cash. For property owners, one of the most precious cash cow they can utilize is their apartment.
Owners of apartments for rent in Business Bay are finding ways to maximize their living space to be an additional source of income. If you are thinking of monetizing your space, here are some ideas you need to look at.
- Open it for photo shoots
If your studio for rent in Business Bay is well-designed and has excellent interiors, you might want to consider opening it up for filmmakers and photographers who are looking for a space to conduct their pictorials and video shoots. Location managers are also looking for new places that they can feature. Your place might be the one they are looking for. Just be sure to update your interiors once in a while to give it a fresh look. You can use your social media account to promote your place subtlety.
- Welcome freelancers
Freelancers are always looking for a space where they can crash and work in peace. Although there are serviced offices and landlords offering hotdesking spaces, some of these workers are looking for a private and cozy environment where they can relax and do their job. If you have an extra room in your apartment, you can turn it into an office space for rent. A lot of freelancers would be willing to rent out the space given the competitive rate you will offer. You can edge out your competition by offering additional services such as food and use of utilities. Just be sure that the space is equipped with the necessary tools these freelancers might be needing.
- Rent out your garage
Parking space can be a problem for some, especially those who don’t have one. If you have an extra space in your garage, take advantage of this situation and rent it out to other people. You can rent your garage space on a daily or monthly basis, depending on what would suit you and your client.
- Open your apartment to travelers
Real estate and rental platforms such as Airbnb are also looking for tenants who are willing to offer their living spaces to travelers. If you have an extra space or you are not using your apartment on a regular basis, open it up for a short-term stay.