If you’re a retiree with a spacious backyard, you could be sitting on a goldmine, according to an article in Business Insider. Thanks to platforms like Neighbor and Hipcamp, seniors are turning their unused outdoor spaces into lucrative rental properties. Whether it’s for storage, camping, or events, renting your backyard can bring in thousands of dollars a year. Here’s how to get started.
The first step is to assess your space and decide how you want to use it. Are you comfortable renting it out for storage? Neighbor, for example, allows homeowners to rent their driveways, garages, or yards to people looking for affordable storage solutions. Alternatively, if you have a scenic property, you could list it on Hipcamp for campers and outdoor enthusiasts.
Once you’ve decided on use, it’s time to prepare your space, and there are things to consider, like alerting your neighbors, according to Houzz. This might mean clearing out clutter and ensuring the area is secure for storage rentals. For camping, you’ll need to provide basic amenities like a flat area for tents, access to water, and possibly a restroom. The more appealing your space, the more you can charge.
Next, create a listing on the appropriate platform. Be sure to include high-quality photos and a detailed description of your space. Highlight any unique features, like a beautiful view or proximity to local attractions. Pricing will depend on your location and the demand for your type of space, so do some research to see what others are charging.
One of the biggest advantages of renting your backyard is the flexibility. You can choose when and how often to rent it out, making it an ideal side hustle for retirees. Plus, you’re not just earning extra income—you’re also putting your property to good use.
Of course, there are some considerations to keep in mind. You’ll need to check local zoning laws and regulations to ensure you’re allowed to rent your space. It’s also a good idea to have a written agreement in place to protect yourself and your renters.
For many seniors, renting their backyard is more than just a way to make money—it’s an opportunity to meet new people and share their love of the outdoors. Whether you’re hosting campers or providing storage, you’re creating a valuable service that benefits both you and your renters. So, if you’ve got a backyard that’s going unused, why not put it to work? With a little effort, you could be earning thousands of dollars a year—and enjoying the process along the way.
