Rent out unused space

Do you have a spare room that is not reaching its potential? Make some extra revenue by renting it out. Here are some Tightwad tips to consider:

Host an international student. If you call your local school board, university or college and chances are they may have an international student program and be looking for host families just like you!

If you are looking for something will a little less commitment, Eventup is a service that makes it possible for homeowners to rent out their space for low-key gatherings, parties, photo shoots and other events. Eventup manages the booking process, from scheduling a walk-through to booking the location, and offers owners insurance options to safeguard their property.

Perhaps you know someone that needs short-term storage and wants to rent space in a secure location? This could be an option for your underused spare room/attic/garage/shed.

You can advertise your spare room on a per-night basis using a site such as crashpadder. This site unites tourists who are looking for a bed for the night with locals willing to host them.

If you don't mind inconvenience and have a home that has screen appeal, get your property seen by a location scout. The more unusual the property the more likely it is to be used, particularly if it has period features or a scenic location. Be aware that your furniture is likely to be moved out temporarily, but everything will be put back when shooting is finished, and you will receive a reasonably generous fee for your troubles.

If you are considering any of these options, don't forget to review your insurance policy to ensure that you are covered in the event you need it!