5 common possessions that could boost your income today


We will be looking at the 5 most common possessions that could boost your income today. If you are looking for ways to increase your monthly income then you should look into the sharing economy. You might want to check out Fatlama, a tool used to make money online by sharing things you do use often. 

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Around ten years ago a new form of commerce launched – the sharing economy. With its emphasis on peer-to-peer transactions, the idea of the sharing economy is that people who own resources and assets can lend them out to others who need to use them – the lenders can recoup the costs of their possessions and make a side income from them, while the borrowers can save themselves the cost of either buying the item, or renting it through a pricey rental house.

The sharing economy has matured a lot since its birth in the late-noughties and now there are several apps and platforms out there allowing people to loan out their assets – famous examples include Uber and Airbnb. But if you do not have a car and the time to lend, or a spare bed, but do still want to make money from your possessions, there are still many options for you. One such option is Fat Lama, a peer-to-peer item rental service that is allowing owners of equipment to make a lot of money on the side.

Here are five possessions that people commonly have that can make a lot of money on Fat Lama:

DSLR Cameras

If you own a good quality DSLR camera, you are in a good position to lend it out online. Renting these pieces of equipment from companies are very expensive, and buying them even more so. There are plenty of freelancers and hobbyists out there looking for cameras at a wide range of price points, so even if you don’t have the highest spec camera, there is probably someone that will be wanting to rent your DSLR from you. Here are two models that do very well rented out online:

  1. Sony a7S ii
  2. Canon 5D

So if you’re a professional or just a budding enthusiast, make your cameras work when you aren’t even using them by renting it out to those who need it.

Bikes

If you have a bike lying around, possibly gathering dust in a shed, then you may want to see who is interested in renting it from you. Bikes are prime for renting as many people only want to use them for the occasional ride in the park on a sunny day, and therefore do not want to invest in them – again, the options for rental are costly and limited, so borrowing from their neighbors is an easy win. If you own a bike that’s in good nick, maybe you should list it online to help boost your income today.

The better the bike, the better the income as well, so if you have a sports bike that’s just waiting for a fitness fanatic to pick it up, you could be making some serious money from it.

increase your income by renting a bike

Tents

Tents are pricey and only get used a few times in their entire existence. You may have realized by now that these are excellent conditions for renting them out! The benefit of renting out tents is that they are usually rented for multi-day trips, so you can seriously scale the income you make from individual rentals. Give the tent that’s sitting in your attic a good dust-down and start listing it.

You’ll find common borrowers include families, festival-goers and backpackers and literally any size tent will cut it. Some people need the big 10-man-ers, while others need the portable single tents so you’ll certainly be meeting a large range of different people!

This is yet another example of something that, no matter the value, people really need. You can leverage that for some decent income.

Drones

If you’re a gadget head, then you probably own a drone – take note, they rent like wildfire online. These pieces of flying kit have exploded in popularity over the last couple of years – for some, in professional photography circles, drones afford them opportunities for shots they never had unless they had access to a helicopter or a crane – naturally, most do not have access to this. For others, these miniature flying machines simply have that ‘cool’ factor which is irresistible for them not to own.

The high cost of drones compared with their specific uses, however, make them impractical for a lot of professional freelancers to actually purchase. Therefore, any way to rent them is an absolute godsend for their business as it hugely broadens the options for photography available to them.

If you own a drone, then, and you aren’t using it all the time, it’s definitely worth seeing if you can rent it out and ensure you can boost your income today by signing up for Fatlama.

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Power Tools

Brian Chesky, of Airbnb, was quoted in the New York Times in 2013 saying that while there are 80 million power drills owned in America they only get used for an average of 13 minutes. This is the core principle of the sharing economy, that we can be using the resources around us more efficiently.By renting out items you barely use, you can boost your income today by lending them out. 

If you own any form of the power tool, the more specific in function the better, then you may be within a good chance of making a fair bit of cash renting it online and in term help boost your income today. Great examples include hedge trimmers, chainsaws, handheld jigsaws and so on –  things which are expensive to buy but easily transportable. People need tools but very rarely is it a good investment to buy them, so the opportunity to rent them cheaply makes their lives significantly easier.

If you own some decent power tools, perhaps now is the time for them to make back the money you spent investing in them.

increase your income for renting

So there are 5 objects you probably aren’t using much which you can utilize to make you some serious money on the side. They can really boost your income today as they are just sitting gathering dust. The theme is simple – anything costly that you have lying around is probably something other people don’t want to have to invest in themselves.

Some users on Fat Lama have even been able to pay their rent through renting out their kit, just to give you a great indication of exactly what kind of money you could be making. What’s more, you’ll get to meet great new people, and for some, you’ll genuinely change their lives. So go out today and see what you have lying about

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