Do you want to make extra money by renting out your storage space? This Neighbor Review will show you how it works and how much money you can make.
Are you looking for a way to make some extra money with the unused space that you have?
Neighbor.com is a platform where you can rent out your space to those who are looking to store their stuff, such as boxes of their belongings, furniture, and even their cars.
You can rent out your driveway, garage, closet, and more on Neighbor.com. It’s like Airbnb, but specifically for storage.
You’re not hosting any people and no one is spending the night. Just their stuff!
By becoming a host on Neighbor, you can make passive income from the space that you are not currently using.
The Neighbor website is easy to use, and you can list your space and get started today.
Click here to learn more about Neighbor.com and sign up.
If you are interested in renting out your unused space on Neighbor.com and making extra money, please continue reading my Neighbor Review below.
Quick summary:
- Neighbor is a platform for renting your unused storage space to make extra money.
- You can earn $100 to $400+ each month. This depends on demand in your area and the type of storage you are renting out.
- As a Neighbor host, you get to choose who, what, and when things are stored.
Neighbor Review
What is Neighbor.com?
Neighbor.com is a platform that offers an alternative to self-storage. Neighbor connects people who have extra space (such as an unused closet) with those who need to store their stuff.
Neighbor was started in 2017 by Colton Gardner, Joseph Woodbury, and Preston Alder, and is based in Lehi, Utah. The Neighbor platform is available on both iOS and Android devices, allowing you to easily manage your rented spaces via the app and online.
You can rent out your garage, driveway, parking lot, basement, bedroom, shed, warehouse, carport, closet, attic, street parking spot, unpaved lot, and more.
As a self-storage alternative, Neighbor.com helps you make passive income by renting out extra space in your home.
In short, Neighbor.com offers a modern and efficient way for you to earn extra income by renting out the unused spaces in your home, while providing an accessible and cost-effective storage solution for others who need to store their stuff.
How much money can you make from the Neighbor app?
With the Neighbor app, your earnings depend on the demand and supply for storage space in your area.
Some places will have much higher demand than others, and you may be able to charge more for your storage space. And, the opposite may be true as well – there may not be much demand and due to that you may have to lower your storage rates.
You can make anywhere from $100 to $400 per month or more for renting out your space. The more desirable your available space is, the higher your potential earnings.
Some types of storage will earn you more money. I did a quick search and I found someone near where I currently am, and they are renting out indoor storage that is climate controlled for $1,000 a month that is big enough to fit a large RV, along with whatever else you want to store.
Why would a person store their stuff at a stranger’s home?
This is a great question. Why would a person want to store their stuff at your house instead of just going to a traditional storage facility?
Renters like to use Neighbor.com because it is an alternative to traditional storage units.
With Neighbor, that have more options, and it may be more convenient for them to store their stuff at your place. There’s no paperwork for them either, and it can all be done through an easy app.
Plus, many traditional storage facilities may be full and even have a waitlist (I have needed to store my RV in the past and many times the waitlist is years long, for example.
How does the Neighbor storage app work?
The Neighbor platform is easy to use.
The Neighbor Storage App connects people who have available storage space with those looking for a place to store their items. If you have unused space, you can list it on the platform, and if you need extra storage, you can search for suitable options nearby.
The Neighbor app allows you to list your space, set your price, and collect monthly rent. Communication between hosts and renters is all done through the app as well.
As a Neighbor host, you’ll need to create a listing on the Neighbor website for the storage space that you are wanting to rent out. You’ll give them details about the space, such as the size, type (is it a driveway or shed?), location (what town are you in?), and any specific requirements for potential renters. You should take pictures of the space too, as they can help a renter determine if the space is good for them or not.
After you’ve created your storage space listing and received a booking request, you can talk with the renter through the Neighbor app.
Once the booking is confirmed, you’ll coordinate with each other to have the belongings moved into the storage space. The platform also offers built-in tools for tracking and managing rental agreements, so that the transaction is easy for both hosts and renters.
Signing up and getting started with Neighbor is simple:
- Download the Neighbor app or visit their website
- Create a free account
- If you’re hosting storage space, set up your listing with details and images
- If you’re renting, search for suitable storage options and send booking requests
- Communicate with your match and finalize arrangements
The steps to make money on Neighbor.com
To make money on Neighbor.com, follow these simple steps:
- Create an account: Sign up for a free account on Neighbor.com using your email address, phone number, and basic personal information.
- List your space: Provide details about the available space you want to rent out, including the dimensions, type of space (e.g. closet, attic, garage), and any unique features or restrictions. Upload clear, high-quality photos of the space to attract potential renters.
- Set your price: Determine a competitive monthly rent for your listed space. You are in control of the price, so consider factors such as location, size, and demand in your area. Keep in mind that Neighbor.com will take a small percentage of your earnings as a service fee.
- Review and accept bookings: Renters will send you booking requests for your storage space. Review their profiles and accept bookings from those who meet your requirements. You can even talk with potential renters through the Neighbor platform if you have any questions or concerns.
- Get your storage space ready: Before the renter moves their belongings in, ensure your storage space is clean and easily accessible.
- Maintain communication: Keep in touch with your renters throughout the rental duration. If they have any questions, make sure to get back to them in a timely manner. For the most part, it is fairly passive income, so you won’t normally need to talk very often.
- Receive payments: After a successful booking, Neighbor.com will handle the payment process for you and they collect the rental earnings directly from the customer for you. Rent is collected monthly and automatically deposited into your chosen bank account or PayPal.
As you can see, it is easy to make passive income with Neighbor.com.
The types of storage you can rent on Neighbor.com
There are many different types of storage space that you can rent out on Neighbor.com.
Some common storage options you can rent on Neighbor.com include:
- Garage: Renters may need to store a vehicle in your garage. This can be for reasons such as going on a long vacation, needing to temporarily free up space in their driveway, and more. They may even store furniture or other equipment. Garages are in demand because they can protect belongings from bad weather and also help keep items safe from theft.
- Storage space: Smaller spaces within a house, such as closets, cabinets, or attics, can be rented out for storing smaller items or boxes that don’t require a large area. Neighbor even says that you can rent out a shelf in your home!
- Driveway: For those in need of a place to park their cars, boats, or RVs, renting a driveway can be an affordable and convenient choice.
- Shed: Outdoor sheds are perfect for storing gardening tools, bikes, or other items that can withstand the elements.
Things to think about before renting out your storage space
To become a host on Neighbor.com, there are some things that you will want to think about.
- Space Requirements – To become a host with Neighbor, all you need to do is clear a space in your property. Think about what you have available, even if that means that you may have to clear out some room and shuffle some of your belongings around. Remember, the more attractive and functional the space, the higher the chances of attracting renters.
- Responsibilities – Your main responsibility as a host is to provide a safe and secure space for renters to store their belongings. You will want to keep the area clean and safe for a renter. You will also need to communicate with renters to coordinate pick-up and drop-off times, and answer any questions that they may have.
- Liability coverage – To give you peace of mind, Neighbor offers liability coverage for hosts up to $1,000,000. In case a renter’s belongings are damaged or lost under your care, you won’t be held liable for the damages.
- Identity Verification – For the safety and security of both hosts and renters, Neighbor requires all users to verify their identity when signing up. This process entails providing your legal name, date of birth, and proof of identity, such as your driver’s license. By verifying your identity, this creates a safer community.
- Theft Protection – You should take measures to protect the items stored on your property, such as using locks or installing security cameras. Also, renters’ items are covered up to $25,000 in case of theft.
Managing renters and payments
Neighbor strives to provide a safe and secure platform for hosts and renters. When a potential renter expresses interest in your space, you have the chance to review their profile and approve or deny the request.
Once a renter is approved, Neighbor handles all the payments by charging the renter’s debit card monthly and depositing the funds directly into your bank account.
Payment methods
Neighbor offers various payment methods for both hosts and renters. As a host, you will receive your earnings via direct deposit to your bank account.
Renters can pay for their storage space using a credit card, debit card, or other supported payment methods.
Service fees
Neighbor charges a service fee of 4.9% + $0.30 on each payment from the renter.
So, if your rental fee is $100, then Neighbor will withhold $5.20 as their service charge, and you will receive the remaining amount ($94.80).
Refund policy
Neighbor does have a refund policy and cancellation policy. This means that a customer can decide not to store their stuff at your home.
In case a renter decides to cancel the contract before moving in, they might be eligible for a full refund depending on the timing. However, if a renter cancels after moving items into your space, they may only receive a partial refund, depending on the remaining paid rental period.
Insurance and liability protection
As a platform for storing strangers stuff in your home, you probably have questions about safety and security.
Neighor offers insurance for both hosts and renters, protecting you from potential losses due to theft or damage. As a host, you’re eligible for a $1 million host guarantee, giving you peace of mind when you’re sharing your space with others.
As a renter, Neighbor provides a $25,000 protection plan (their rental guarantee) for your stored items as well.
Prohibited items and restrictions
Now, you are probably wondering – “But what if someone wants to store things that I am not okay with?”
This makes complete sense, as you, of course, don’t want someone storing illegal drugs or garbage in your home, of course.
To maintain a secure environment for everyone using the platform, Neighbor has set guidelines on prohibited items and restrictions. Keep in mind that certain items are not allowed to be stored in Neighbor storage spaces.
Prohibited items include, but are not limited to:
- Hazardous materials
- Explosives
- Pesticides
- Firearms and ammunition
- Illegal drugs
- Waste
- Animals
- Perishable goods
Common questions about Neighbor.com storage app
If you have more questions about renting out your unused space on Neighbor.com, please read the FAQs below.
Are Neighbor.com reviews positive?
Neighbor has received many reviews on Trustpilot, which have been a mix of both positive and negative reviews.
Some reviewers write about the excellent service they have received by renting out their space on Neighbor, while I did see some negative reviews with specific Neighbor hosts, for example.
Also, some people have had good experiences as renters and hosts, while others have faced issues with billing and customer service.
Is Neighbor.com legitimate?
Yes, Neighbor.com is a legitimate company that connects people looking for storage space with those who have extra space available.
It is a peer-to-peer marketplace, where hosts can list their garage, spare bedroom, attic, basement, driveway, or any other space that someone else can use to store their belongings.
Is Neighbor safe to use?
Yes, Neighbor is safe to use for both renters and hosts. The platform gives $1,000,000 in liability coverage for hosts and $25,000 in insurance coverage for renters.
Plus, they have a prohibited items list, so that can help protect you as well.
Are the fees on Neighbor reasonable?
Neighbor does charge a fee. This is because they have created a platform to make sharing your storage space easy.
As a host, Neighbor charges a 4.9% processing fee and $0.30 for every reservation. For renters, there is around a 15% service charge in addition to the rental price.
How does payment work?
On Neighbor, renters pay through the platform, and hosts receive their payments directly from Neighbor. This ensures a secure transaction for both parties, with agreed-upon terms.
Is Neighbor.com BBB accredited?
Neighbor.com is not currently BBB accredited. However, BBB accreditation does not guarantee a better experience or whether a company is legitimate or real.
Can I make money with Neighbor? Is Neighbor a good way to make money?
Yes, you can make money with Neighbor by renting out your extra space to others who need storage. As a host, you set the price for your space, and the platform helps connect you with potential renters.
You can make anywhere from $100 to $400 per month or more in passive income for renting out your space.
Related: 30 Best Money Making Apps
Neighbor Review – Is the Neighbor app worth it?
If you are looking to make passive income, then renting out your unused storage space on Neighbor.com may be something that you are interested in.
To understand how Neighbor.com works, think of it as an Airbnb of storage; you offer your spare storage space (garage, basement, shed, etc.) for renters as temporary storage units without having to deal with the work of hosting guests.
Instead, you are just storing their stuff and then they leave! So, all you need to do is clear out a space for them to put their belongings.
For hosts, one of the main positives of using the Neighbor app is how easy the website makes everything. As a host, you can list your storage space with a description, pictures, and price. You can also decide on the length of time you want to rent it out – whether it’s for a month, a few months, or even longer.
For renters, the Neighbor app provides an affordable and/or convenient alternative to traditional storage units. Renters can browse listings and find storage spaces near their location that fit what they are looking for. Once they find a storage space that they are interested in, they can rent it from you and start storing their items.
Neighbor does charge a fee for using their website, but they are relatively low. As a host, you set the price for your storage space and the platform takes a small commission from the rent you receive for the convenience of using the Neighbor platform.
If you have an unused storage space and are looking to earn some passive income, the Neighbor app can definitely help you make some extra money.
Click here to learn more about Neighbor.com and sign up.
Would you rent out your extra space? Why or why not? What other questions would you like me to answer in this Neighbor Review?
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