She Strengthens

Maximizing Your Rent While You’re Away

As a frequent traveler, I’ve always felt a pang of guilt when leaving my apartment unoccupied. It’s a waste of money, and I’m not alone in this concern. Fortunately, living in a major city like Los Angeles provides opportunities to monetize your space while you’re away.

Turn Your Apartment into a Money-Maker

Before exploring these options, be sure to check with your landlord to ensure they’re allowed within your lease agreement. Here are five ways to recoup your rent while you’re out of town:

1. Host on Airbnb

When I lived alone, I regularly listed my apartment on Airbnb. It’s an excellent solution for short-term rentals, and you can set a minimum stay requirement. Take high-quality photos of your space, and follow Airbnb’s guidelines to get started.

2. Sublet Your Space

There are two approaches to subletting: asking friends and acquaintances for a short-term stay, or posting on platforms like Craigslist, Padmapper, or Apartments.com for longer rentals. Draw up a contract to protect both parties’ interests.

3. Rent Out Your Parking Spot

If you’re fortunate enough to have a parking spot, consider renting it out to neighbors or using online marketplaces like JustPark.com, SPOT app, or Parking Spotter. Prices vary depending on location and amenities.

4. Offer Your Apartment as a Film Location

While this option requires some networking, it can be lucrative. Reach out to local film schools, production companies, or student filmmakers who might need a unique setting for their projects. Be prepared to negotiate rates and terms.

5. Swap Rooms with Fellow Travelers

This solution might require some creativity and flexibility, but it’s worth exploring. Post on social media or use online forums to find like-minded individuals willing to swap apartments for a few months. This way, you’ll avoid wasting rent money and potentially find a new temporary home.

By exploring these options, you can turn your apartment into a revenue stream while you’re away, making your travels more financially sustainable.