We live in an age where people accumulate stuff and refuse to let it go. That is why there are so many storage rental places popping up all over the place. Depending on the size the space the rental fee can range from $25 to $125 a month to store all the, ummmm, stuff that can’t fit in the house. Sometime though, people, other single moms, students, or people in transit need a temporary place to store their goods. That’s where you come in.
If you have an extra room, closet, space in your basement or and extra large backyard or driveway, you can rent it out and make some extra money each month. There may be someone you know who is moving to a smaller place and needs to store their hat collection or instruments. Others may have a room full of furniture to store so depending on your space you may be able to accommodate two or three people. There are cars, boats, and campers that need to be stored somewhere so your space will come in handy.
What you charge is up to you, but it should be just a few dollars lower than what the storage rental place up the street is charging. You can be creative in how you charge and can be flexible with people who get paid weekly, bi-weekly, or monthly. You may decide to build a storage room in your backyard to take in more things because it’s going so well.
A few flyers on a college campus, military base bulletin board (if you have access), or a church bulletin board may bring your first customers. After that, word of mouth will supply you with future customers. Try to find people who don’t need to visit their “stuff” too often because you don’t want people coming back and forth to your home all the time. Your perfect customer may be a college student who is leaving for the summer, a military person going on an extended tour, or a single executive who will be out of the country for a few months.
If you have the unfortunate pleasure of getting a person who refuses to pay feel free to donate their items to Goodwill. You should draw up a simple contract with the agreed upon rate, terms, and property disposal in case of non-payment.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
