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Neighbor Storage Review: Rent Out Your Storage Space – GOBankingRates

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GOBankingRates Score

Quick Take: Neighbor Storage is an easy, flexible way for hosts to make money renting out their unused space, and for renters to store their overflow belongings. As with any peer-to-peer sharing site, there are risks, but Neighbor Storage does its best to minimize them.

  • Earnings Potential

  • Flexibility

  • Renter Experience

  • Host Experience

How did we calculate this?

Pros

  • Hosts can name their price and the duration of the rental.
  • You can earn passive income by renting out almost any size space — a corner of a basement, a parking space in your driveway, etc.
  • Renters can store their belongings for a few days, weeks, months or even years.
  • The platform is easy to use for both renters and hosts.
  • Insurance is available for hosts and renters.

Cons

  • Peer-to-peer transactions are inherently risky, although the platform mitigates these risks as much as possible.
  • Hosts have to offer access to the storage area to the renter, so keep this in mind when considering whether to list your attic that can only be accessed through the master bedroom.
  • Neighbor Storage is available in all 50 states, but there are still limitations. As a renter, you may not find suitable storage near you, and as a host, you may not find nearby renters to fit your criteria.
  • As a host, your earning potential is limited by market conditions.

Everybody’s trying to be more efficient these days, and companies are taking advantage by matching up people with things they need on a peer-to-peer basis. There’s Getaround and Turo if you want to rent out your car, and Airbnb if you want to rent out your house. But what if you have extra storage space in your house? There’s a sharing app for that too. Neighbor Storage lets you rent out your attic, garage or basement to someone with more stuff than space.

Like all sharing apps, there are pros and cons to Neighbor Storage. Here’s what you need to know.

What Is Neighbor Storage?

Neighbor Storage is a good way to earn some passive income if you have extra space in your home, garage or even your driveway. By matching those with extra space with those with extra stuff, renters can bypass long contracts with storage facilities and save some money. The platform is available nationwide but depending on where you live and what your requirements …….

Source: https://www.gobankingrates.com/reviews/neighbor-storage/

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