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Pulse of Pride

How to Share Extra Space in Your Home for Passive Income

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During inflation, as costs rise on everything, many people continually look for ways to bring in extra income. What if someone could make money simply by offering space they already have in their home or garage?

That’s precisely the idea behind Neighbor.com, an online marketplace that connects people with extra storage space to offer to people who need to store household goods and other items.

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Neighbor.com, often dubbed the Airbnb of self-storage, is the brainchild of CEO Joseph Woodbury and two co-founders, Preston Alder and Colton Gardner, in 2017. They came up with the idea when Alder felt the pain of renting a storage facility.

All three were good friends from college who began working on it during their senior year. Woodbury states that when he heard the idea, he said it was the best idea he had heard.“I thought, why hasn’t someone built this already?” he says. “Five years later, and we have users in all 50 states.

How It Works

The Neighbor app, available on the App Store and Google Play, has categories for self-storage, including indoor, college, business, and warehouse. There’s also a category for vehicle storage with parameters to search for RV, car, truck, boat, or trailer storage.

The latter can be handy and beneficial for city dwellers who need space to store their leisure toys, which is harder to do or more expensive in a busy city area. In addition, they feature a parking category where users can search by the garage, monthly parking, parking spaces, long-term parking, and even driveway parking.

For Hosts

To get started, all they need to do is download the app, take pictures of the space being offered, write a description, and set a price. From there, the app takes care of the rest.

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