Whether you want to make some extra cash or create passive income, renting things out is an excellent way to generate a profit.
Many things can be rented out for profit, but knowing which ones are the most profitable is important. Read on to learn more!
Table of Contents
1. Recreational Vehicles
The most profitable thing to rent is recreational vehicles, also known as RVs. They can be used for traveling or camping and come in all sizes and floorplans.
There are many types of RVs, but the most common are pop-up trailers, travel trailers, and class-A motor homes. Each type has its pros and cons, so it’s important to decide what kind of rental you’re looking for before making your decision.
One of the most popular ways to rent an RV is through a peer-to-peer rental service like Outdoorsy or RVShare. You can find a wide range of vehicles on these sites, including full-on motorhomes and small tow-along trailers, and owners work to ensure your safety (and that of their property).
Another way to make money with a recreational vehicle is by renting it out on vacation sites like Airbnb. You can list your RV on these sites and get a commission when people book it.
In addition to renting out a recreational vehicle, you can also rent out other things people might need during their vacation. For example, you can rent out drones and other equipment that people use for filming.
This is a great way to make money, especially if you have expensive equipment that people need all the time but don’t want to buy themselves. You can also rent out clothes and other items, such as college textbooks.
Recreational vehicles are a good choice for people who travel a lot and need a comfortable place to stay while they’re on the road. They’re also an excellent choice for families so that they can spend quality time together.
2. College Text Books
College students can save a lot of money by renting their textbooks instead of buying them. Textbook rentals can cost up to 80% off new book prices, and many sites offer extended rental periods.
The best college textbook rental sites offer a large selection of titles at reasonable prices and easy online ordering and return shipping. Most of these sites also allow you to choose a convenient rental period for your needs.
One of the most popular and user-friendly rental sites is Knetbooks. It offers a 25-day money-back guarantee and free shipping on all orders. It also has a good customer service department, and if you aren’t happy with the quality of your books, they will fix it.
Another great option is Textbook Solutions. It offers discounts of up to 90% off retail and allows you to rent millions of titles.
Textbook Solutions also allows you to add notes and highlights to your rentals and download them to study on the go with offline access. They also offer a 30-day money-back guarantee.
It also has an eWards program that lets you earn points for referring friends and using their website. You can redeem your points for cash when you’re ready to purchase a new textbook.
The company also offers a green reusable box for you to use when sending your textbook back. This will make the process hassle-free and easy for you since it will keep your books safe when you’re not at home. It also offers an e-mail alert system, so you’ll be notified when your textbook is ready to pick up.
3. Clothes
If you’re looking for an easy and profitable way to make extra money, renting clothes is one of the best options. Whether you need to borrow something for a special event or just want to try out new styles, renting is a great way to get the latest trends without breaking the bank.
There are many different types of clothing that you can rent, including casual t-shirts and sweaters, dresses, skirts, and pants. You can even rent trendy, offbeat pieces that are perfect for parties and outings.
Some clothes rental services like Girl Meets Dress and MY WARDROBE HQ sell clothes as well, so you can buy them after renting if you fall in love with them. This can be a great way to save money and help the environment.
It’s also worth checking to see if the clothing is in good condition before you rent it. If the clothes are damaged or stained, you may be able to return them. Some sites will offer this as a service, so it’s worth asking the company about this before you rent.
It’s also a good idea to choose the right delivery dates. If you’re renting clothes for a wedding or other special occasion, having them arrive a few days beforehand can be helpful to give yourself time to find a replacement outfit if something goes wrong. Additionally, you might want to check with the clothing rental service to see if there are any special rules about deliveries and returns on Sundays or bank holidays. This can affect your overall experience of renting clothing.
4. Storage Space
One of the most profitable things to rent is a decent-sized storage space. Aside from being convenient and cheap to boot, a well-located and locked-up unit can serve many purposes, including storing your prized possessions. This could also be a great way to get a jump on your next home remodeling project or as a temporary work-from-home solution. Regardless of your reason for needing the extra space, you should be proud of yourself for finding a solution that meets your unique needs. Keeping in mind that not all storage units are created equal, you should take the time to shop around for the best price.
4. Equipment
As the construction industry continues to grow, it’s no surprise that equipment rental has also skyrocketed. As technological innovation transforms the industry, contractors need access to the latest equipment.
By renting, contractors can ensure that they’re using the newest technology without having to make a large capital investment. They’ll also be able to test out new models and learn how to use them before making the decision to buy.
There are a variety of different types of equipment that you can rent, including bucket trucks, cherry pickers, and pallet jacks. These types of tools are often used on job sites and can be extremely helpful for moving heavy items around.
The most important thing to keep in mind is that you need to determine how much of the equipment you’ll be using. For example, Andy Agoos, a commercial equipment specialist at Wells Fargo Equipment Finance, says that small companies should consider renting when they plan to use their equipment for less than 40% of the time.
If you plan on using your equipment for more than 60% of the time, you might want to consider purchasing it. This will allow you to recoup the cost of the equipment in the future and give you some financial flexibility.
Whether you’re a freelance photographer or just need some extra income, equipment rentals can be a great way to earn money. For instance, if you have a high-end camera and you don’t use it often, you can list it on a platform like Buro for others to rent. This can be a highly profitable business that you can run part-time or on a full-time basis, depending on how much you’d like to earn.
