Homeowners are being advised to take advantage of side hustle hacks to earn up to £20,000 to help tackle the cost of living crisis.
According to one property expert, Britons can generate the extra cash with easy tricks which could prove a lifeline for many fearing how they will get through the winter.
Jonathan Rolande, from House Buy Fast said: “Right now you’d forgive people for pulling their curtains closed and hiding indoors for months on end until this cost of living crisis passes.
"But what many might not realise is that your property itself can be an absolute goldmine.
Those with charging points for electric vehicles can now rent them out to earn extra cash
PA
"From renting out your spare room, to turning an unused area into a storage facility, to putting a car-parking space up for rent, you could literally earn thousands a year and transform your finances.
"It’s not just property owners who can benefit. Those in rental property could too. Try pointing out the side-hustles that could be open to your landlord in exchange for a reduction in your rent. If they’ve got any sense they’ll bite your hand off.”
Rolande explained that renting out a spare room can bring in extra funds.
"Rents are sky high and those looking to get their foot on the property ladder are finding it harder and harder to find an affordable home," he said.
"You can earn up to £7,500 per year tax free by renting out a spare room. If it’s full of junk, clear it."
Rolande added that another way to tackle the cost of living crisis is renting office space to homeworkers.
He said: "The pandemic has changed the way we work with more and more employers now allowing staff to work from home. But not everyone has the space in their home to effectively set up a home office.
"If you have a spare room doing nothing you could earn between £50 and £250 a day renting it to a homeworker."
In addition renting a room, unused garage or loft space to someone desperate for a place could help with household funds.
According to experts at storage company Stashbee this could earn a minimum of £1,000 per year on average.
Similarly, renting out a spare car space in London alone could bring in a huge £250 a month.
Rolande said Britons should not forget about their gardens and how they could generate money.
People can also host an international student and earn at least £250 per week
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He said: "Grow your income - by renting out a vegetable patch. More and more people are turning their gardens into an allotment. You can earn £40 a year per 16ft of vegetable patch rented out."
People could also host an international student, and earn at least £250 per week.
While those living near Premier League football ground or concerts and festivals can rent a room, offer a car park space or sell food and drinks for visitors.
Finally, those with charging points for electric vehicles can now renting them out.
Rolande said: "Electric cars are growing increasingly popular - with the numbers on our roads rising each and every month. But many owners struggle to find a free spot to charge their car.
"As a result homeowners who boast charging points are now renting them out via apps like Co Charging. With one full charge expected to last a few hours, having two bookings a day could rake in an average £12 a day and almost £4,500 a year."
