People are becoming increasingly creative when it comes to ways of riding out the recession, but now, they don’t need to look any further than their own home.  A New online service called SpaceOut (www.spaceout.com.au) provides an innovative solution for people looking for an extra income.

By using SpaceOut, people can rent out unused space in their home to someone who needs the space for storage, or parking.  Renting out your unused space can generate a few thousand dollars a year – basically, money for nothing.

Anyone can take a quick look around their house and see what type of extra space they have - If they are not using half their garage, or have a spare room, or an empty garden shed, they can rent it out and turn it into cash with SpaceOut.

SpaceOut.com.au provides an online service for renting out affordable and convenient space.  The website matches up people who are looking to list unused space with those wanting to rent a space. People are already using the service for renting out empty land, parking spaces, spare bedrooms, empty cupboards, office space and all sorts of places.

Initially users are sometimes concerned about “security”, but when they consider people who are already renting out rooms in their home to tenants, and the issues associated with sharing their lives with someone else, the advantages of renting out the same space for storage are obvious.

SpaceOut also recommend that a legal agreement be drawn up that will protect both Owners and Renters in the event of any issues or disputes that may arise.  A sample rental agreement is provided on the SpaceOut website, for people to use as the basis of their own legal rental agreement.

Like most innovative ideas, SpaceOut was the result of a specific need. One of the co-founders moved overseas, and was trying to work out what to do with all of his stuff while he was away.  He didn’t want to throw it away, and wouldn’t have got what it was worth by selling it, but traditional storage facilities were way too expensive.  He ended up storing his gear with a couple of mates - and paid them a small fee for the service.

It occurred to him, that lots of people had unused space that they would be willing to rent out and earn some extra income - what was needed was a way to advertise that space, and make it easy for people who wanted the space to find them - the spark of an idea was born - and SpaceOut is the result.

SpaceOut has already proved popular with home owners wanting an extra income, retirees and “empty nesters” wishing to supplement their pensions, and business owners looking at sub-letting their office space.

People looking for storage space or a parking or office space for rent, can Search for Space that is currently available in their own suburb.  And if their is nothing currently avail;able that meets their specific needs, they can even create tier own Space Wanted Listing.

In todays financial climate, a potentila source of extra income is definitely worth considering, and the opportuinity to literally make money out of thin air on www.spaceout.com.au is definitely worth a closer look.

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