Well, with Neighbor.com, a peer-to-peer storage marketplace, you can do just that and boost your monthly income by becoming a Neighbor host.<\/p>\n
In this Neighbor storage review, we\u2019re covering how Neighbor works for renters and hosts, how much money you can make, and the pros and cons of this sharing economy platform.<\/p>\n
Looking for more passive income ideas? Checkout<\/strong>:<\/p>\n Neighbor is a storage marketplace where people can rent a variety of different types of storage space from hosts.<\/p>\n Neighbor storage hosts are just everyday people who want to increase their monthly income<\/a> by renting out empty space to people in their neighborhood.<\/p>\n The platform is currently available in dozens of U.S. cities, including<\/strong>:<\/p>\n As a host, it's free to list storage space<\/strong>, and you get paid on a monthly basis.<\/p>\n Hosts have liability coverage up to $1,000,000 and renter\u2019s items are covered up to $25,000! This makes for a safe and reliable platform to protect your belongings.<\/p>\n No matter what size your storage space is, you can list any dimensions to make a bit of extra cash!<\/p>\n What's cool about Neighbor storage versus other rental marketplaces is just how diverse Neighbor is.<\/p>\n The platform actually has several rental categories you can choose from, including<\/strong>:<\/p>\n If you're going away for a few months and need to store your car, or if you want a cheaper alternative to a self-storage unit, Neighbor has you covered as a renter.<\/p>\n Similarly, as a host, you can earn passive income by renting out things you own<\/a>, like an empty garage, vacant room, shed, or more!<\/p>\n And Neighbor is quite robust, and there are even more rental options for hosts to utilize in the different storage categories, including:<\/p>\n The great thing is, almost everyone has a bit of extra room somewhere in their house, so becoming a Neighbor host is very feasible.<\/p>\n Neighbor works for hosts in six simple steps<\/strong>:<\/p>\n It\u2019s completely free to list your space and you just need access to a computer to get started. When I signed up to test out the platform for this review, it was very easy to create an account and to figure out how to list a property.<\/p>\n Time to break down how everything works in a bit more detail.<\/p>\n To sign up for Neighbor storage as a host, head over to neighbor.com\/host<\/strong> and click on \u201clist your space\u201d.<\/p>\n This takes you to a register page where you enter details like your:<\/p>\n After that, Neighbor sends an email confirmation to continue registering and login with your new credentials.<\/p>\n It\u2019s that easy! You\u2019ll be ready to start listing your space in a matter of a few minutes.<\/p>\n Once you sign up as a Neighbor host, you can begin the listing process. When creating a Neighbor listing, you add the following information<\/strong>:<\/p>\n You also add photos to your listing. It's a good idea to write a robust description and to add multiple photos to encourage people to choose your space.<\/p>\n Neighbor also suggests an optimal monthly price for your listing to help you get more rentals and, ultimately, make more money.<\/p>\n This is similar to Turo's car calculator and Airbnb's host calculator, and Neighbor uses an algorithm and other market data to recommend monthly storage fees.<\/p>\n You can also choose to discount your storage space for the first month, which is a great way to attract more renters if you need money fast.<\/p>\n Some factors that influence how much you can charge include<\/strong>:<\/p>\n For example, a neighborhood with a statistically higher crime rate might have cheaper storage fees than a safer neighborhood – especially for something like a driveway for a car.<\/p>\n Note that once you complete your listing, you have to finish completing your host profile and verifying your account.<\/p>\n To complete your profile, you can:<\/p>\n Neighbor suggests hosts do both of these things to appear more friendly, get more rentals, and make more money.<\/p>\n Finally, you\u00a0have\u00a0<\/em>to verify your host profile<\/strong> by confirming your email, phone number, and uploading a pho<\/p>\n Like many other gig economy platforms<\/a>, you receive requests from renters to store their belongings if they want to book your storage space.<\/p>\n As a Neighbor.com host, you can accept or deny rental requests for whatever reason; you're never obligated to accept a rental if it's for too long or you just change your mind.<\/p>\n When a renter submits a request, you know how long they want to rent for. Renters can also ask host questions, much like Airbnb, before renting.<\/p>\n You also set preferences for how often renters can come access their belongings and at what times, and this info is displayed in your live listing<\/strong>.<\/p>\n If you agree to rent out your extra space to the renter, you don't need to sign anything either.<\/p>\n Neighbor covers hosts with up to $1,000,000 in liability coverage<\/strong>, and you handle everything through Neighbor's marketplace; no need for third-party messaging or payments.<\/p>\n And keep in mind: renters are likely nearby, hence the name Neighbor storage, so you can feel a bit more comfortable with who you\u2019re renting your space to since they live in your city and will eventually want their stuff back.<\/p>\n After you approve a rental request, you schedule the date and time that your renter can use the storage space.<\/p>\n Neighbor makes this pretty seamless, and you have several options here, including<\/strong>:<\/p>\n There are a ton of different ways you can arrange your move-in preferences. It makes Neighbor feel much more secure this way.<\/p>\n Depending on what you\u2019re storing, you might want to use different methods.<\/p>\n For example, if you\u2019re storing equipment in a room within your house, it's best to meet in person and have the renter come inside with you.<\/p>\n Neighbor renters pay upfront for the first month of their rental, but you get paid 30-days following this to ensure the renter can actually store their goods for an entire month<\/strong>.<\/p>\n From there, Neighbor pays hosts at the end of every month. This is done through Neighbor's platform, so you don't have to worry about securing payment from renters. This means you're basically making money on autopilot<\/a> every month since Neighbor is incredibly passive.<\/p>\n Neighbor pays hosts out with direct deposit through Stripe, so the money also hits your bank account. You just need to connect a bank account using the “Payment Method” tab in your account.<\/p>\n It's free to list a space, but Neighbor charges hosts approximately 5% of their monthly listing fee every single month to make money.<\/p>\n So, if you rent out your garage for $100 per month, you pay around $5 to Neighbor every month as a host fee.<\/p>\n The exact Neighbor storage fees are 4.9% per month + $0.30 for every payment<\/strong> that gets deposited to your bank account.<\/p>\n Keep this in mind when deciding whether or not Neighbor is worth it for you!<\/p>\n Neighbor hosts can actually make a decent amount of cash every month in passive income, although how much you earn depends on the type of storage space. Many listings on Neighbor range from $30 to $100 per month, but you can find storage spaces for several hundred dollars per month or more.<\/p>\n Here are some current rental prices I found on Neighbor in some cities throughout Florida for a rough benchmark<\/strong>:<\/p>\n Again, your location and storage space size are the main factors that influence how much money you can make.<\/p>\n If you have a lot that is 100×50 feet, you could be making over $500 per month!<\/strong> This assumes that you constantly have someone renting your space every month.<\/p>\n There's no guarantee that you get renters every month, so supply and demand are also important to consider.<\/p>\n But, it's free to list a space on Neighbor, and with a driveway or spare room, you could potentially earn several hundred dollars per year in free passive income!<\/p>\n As mentioned, Neighbor storage makes money by charging the host a percentage of the monthly revenue. The platform takes\u00a0a 4.9% cut + $0.30 every month you get paid<\/strong>.<\/p>\n This isn\u2019t a huge percentage, but it's worth factoring into your monthly earning potential.<\/p>\n Then again, you\u2019re making free money for extra space that you already had and you also get up to $1 million in liability insurance.<\/p>\n Just keep it in mind when calculating potential earnings.<\/p>\n Neighbor storage works for renters in four easy steps:<\/p>\n Let's cover how each step works in a bit more details so you can decide if you want to use Neighbor to store your stuff!<\/p>\n Before signing up for a Neighbor account, you can actually use the location feature on its website to see if there are rentals near you.<\/p>\n Simply enter your city in the \u201center a location\u201d search bar and look at all the nearby hosts looking to store your belongings.<\/p>\n After you create an account, you can use more search filters to specify what type of storage space you're looking for, size specifications, and rental duration.<\/p>\n You can also filter by price to find cheap rates, which is useful if you're looking for quick and cheap parking spots or a storage unit alternative.<\/p>\n Neighbor is still working on expanding their location availability. If there are no rentals in your city, send them an email to consider expanding to your area!<\/p>\n Once you find a rental that matches your needs and budget, you can request to rent the spot from the Neighbor host.<\/p>\n After approval, you pay upfront for the first month of storage. You then select a drop-off method and time with the host.<\/p>\n Neighbor renters don't pay fees on top of monthly storage fees; Neighbor makes money by taking 4.9% out of host earnings.<\/p>\n You can pay for your storage space with a credit or debit card, and Neighbor automatically bills you every month you keep renting.<\/p>\n One of the cool features about Neighbor storage is that you can request to access your stuff early. You can also just check on your belongings if you need to.<\/p>\n Depending on what the host\u2019s requirements are, you might be able to walk right up to your car (for example) and take it for a spin before returning it.<\/p>\n However, most hosts have their preference set on an appointment system if it's something you're storing in their house or somewhere like a shed.<\/p>\n In other words, if you want to see your belongings, you usually have to make an appointment with the host to decide a date and time to see them.<\/p>\n This is fair in that Neighbor hosts don't want you always rummaging through their garage or house, so keep this in mind as well if you think about renting storage space with Neighbor.<\/p>\n At some point, you're going to end your rental period and want to collect your stuff. So, here's how you cancel your Neighbor rental.<\/p>\n First, schedule an appointment with the host to pick up your belongings.<\/p>\n Then, log into your Neighbor account and head over to the \u201cMy Rentals\u201d page. Lastly, select \u201cCancel\u201d on the listing and confirm that your belongings have been moved.<\/p>\n Keep in mind that you have a $25,000 insurance coverage in the case that your belongings get damaged, lost, or stolen.<\/p>\n A good way to tell if a side hustle idea<\/a> is legit or not is to see what real users are saying online. And, the good news is that many other Neighbor storage reviews from hosts are quite positive.<\/p>\n In a recent Reddit thread<\/a>, here's what some Neighbor hosts said about their experience:<\/p>\n One host is even earning $1,000 in passive income<\/strong> by renting out six parking spots for boats and RVs on some spare acerage; talk about easy, free money<\/a>!<\/p>\n Neighbor also has some host testimonials on its website where hosts share their experiences and how much money they make.<\/p>\n\n
What Is Neighbor.com?<\/strong><\/h2>\n
![\"Neighbor-storage\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-storage.jpg\")
<\/p>\n\n
What Can You Rent With The Neighbor Storage App?<\/strong><\/h2>\n
\n
![\"Neighbor-storage-spaces\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-storage-spaces.jpg\")
<\/strong>This versatility is perfect for Neighbor renters and hosts alike.<\/p>\n\n
How Does Neighbor Storage Work for Hosts?<\/strong><\/h2>\n
\n
1. Create An Account<\/strong><\/h3>\n
\n
![\"Neighbor-host-sign-up\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-host-sign-up.jpg\")
<\/p>\n2. List Your Space<\/strong><\/h3>\n
\n
![\"Neighbor-create-listing\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-create-listing.jpg\")
<\/p>\n\n
![\"Neigbor-host-set-price\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neigbor-host-set-price.png\")
<\/p>\n3. Complete & Verify Your Profile<\/strong><\/h3>\n
\n
![\"finish-Neighbor-host-profile\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/finish-Neighbor-host-profile.png\")
<\/p>\n4. Respond to Renters<\/strong><\/h3>\n
![\"Neighbor-host-preferences\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-host-preferences.png\")
<\/p>\n5. Schedule Move-In<\/strong><\/h3>\n
\n
6. Get Paid<\/strong><\/h3>\n
![\"Neighbor-host-payments\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-host-payments.jpg\")
<\/p>\nHow Much Money Do Neighbor Hosts Make?<\/strong><\/h2>\n
\n
![\"Neighbor-Storage-Reddit\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-Storage-Reddit.jpg\")
Neighbor Storage Host Fees<\/strong><\/h2>\n
How Does The Neighbor App Work for Renters?<\/strong><\/h2>\n
\n
1. Search for Rentals<\/strong><\/h3>\n
![\"Neigbor-find-storage\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neigbor-find-storage.jpg\")
2. Pay Host for Rental<\/strong><\/h3>\n
3. Access Your Stuff<\/strong><\/h3>\n
![\"Manage-Neighbor-Storage-listing\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Manage-Neighbor-Storage-listing.jpg\")
4. Manage Your Rental<\/strong><\/h3>\n
Other Neighbor Storage Reviews<\/strong><\/h2>\n
\n
![\"Neighbor-storage-reviews\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Neighbor-storage-reviews.png\")
<\/strong>This is honestly very impressive, and according to these hosts, Neighbor is an easy, safe way to generate passive income every month.<\/p>\n