Homeowners have a unique opportunity to make more money without getting a second job. The extra space and your property can become a form of passive income. Check out these simple ways to start earning extra income with your Florida home to pay off your mortgage, get out of debt or check things off your bucket list.

1. Sign up for Vacation Rentals

Consider the extra space in your home. Can the area above the garage become livable, or do you have a guest room you rarely use? Those places could easily become rentable rooms available for travelers. Given that 122 million people traveled to Florida in 2021, you’ll have many opportunities to schedule visitors in your spare bedroom. Look into listing your home on services like Airbnb.

To make your home more desirable, think about upgrading your home through renovations or building home additions. With a sunny climate like Florida, building an indoor/outdoor space, such as a sunroom or conservatory, can not only add style to your home, but will also add an additional layer of functionality to it.

High-quality photos and a list of nearby restaurants or entertainment venues could be the only thing standing between you and some extra income.

2. Offer Rentable Storage Space

People are always looking for extra storage space. You could rent your spare closet, a shed or room in your garage to people in need. You’ll immediately become the preferred competitor as long as your fees remain more budget-friendly than name-brand companies nearby. You’ll make extra money while helping people in the middle of a move or waiting to take their belongings back to college in the fall.

3. Invest in an ADU or a Home Addition

The housing market has become more competitive in the past few years. Many people want to get out of renting, but few houses are available. The upset market balance caused a 4.6% increase in cost in 2021, and housing market experts believe it will increase another 10% by 2023.

Unaffordable renting and housing costs made many people move back home. Homeowners have begun installing accessory dwelling units (ADUs) on their properties to accommodate the needs of extra family members. Most ADUs only require 12 weeks to build, which is more beneficial than waiting months for contractors to construct a house. It’s a quick solution for anyone looking to start earning extra income with their home, especially in a popular tourist destination like Florida.

4. Rent Your Pool to Local Families

New startups inspired by the pandemic allow homeowners to rent their pools to local families and anyone wanting to swim. The individual day or summer passes are more affordable than community pool memberships, so you’ll likely generate more interest and income by listing your pool on rental sites. Include inflatables and shaded chairs to become the best place to swim in your town.

5. Start Pet Sitting

Are you one of the many people who work from home? Advertise your ability to watch pets in your house. Vacationers from out of state can drop their pets off with you while they hit the beach. Locals will also pay for doggie day care or vacation boarding. You’ll have an advantage over commercial facilities because you have a private yard and can provide each pet with one-on-one attention.

6. Lease Your Land to RVs

Vacationers could park their RV on your property if you have a big enough space in your yard. Post pictures of your leased spots online and include amenities like an outdoor fire pit and trash services. Given that motorhome sales grew by 21.8% in February 2021 over the previous year, you’ll have a significant secondary source of income by utilizing your yard.

Start Earning Extra Income

There are many ways to start earning extra income with your Florida home, but these are the best ways to make cash. Whether you create rental space with your home, yard or pool, you can use your property to its fullest potential and make money that will change your life.