Neighbor.com Review – Does Renting Your Extra Space Earn You Extra Money? 

Last updated on 5th July, 2024 at 02:57 pm

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What Is Neighbor.com?

Neighbor.com or famously known as “Airbnb for storage” started in 2016 and since then, has become a go-to destination for online space rental.

In a nutshell, Neighbor.com is an online marketplace that brings together people who want to rent out their empty space with those needing extra storage.

So, it’s a great way for folks to make some extra cash while helping others find storage solutions.

Alright, now that you have a better understanding of this site, let’s have a look at how it works so you can get a grasp on how to make money off this.

How Does Neighbor Work?

For this review, I’m only looking at it from the perspective of those who are renting out their extra space (host) – not renters. If you’re wondering if you can make some cash with that extra space you have, keep reading.

Here’s the scoop on how Neighbor acts as a host:

1. Sign up as a host: To become a host, an account must be made and the details of their storage space should then be listed. These include size, location, amenities, and pictures so that renters have a better understanding of what to expect. Furthermore, the photos can help build trust with potential renters.
2. Set rental price: Afterward, the host must determine an appropriate rental rate for their space. Neighbor.com offers a Smart Pricing feature at no additional cost; this option automatically raises or decreases the listing price depending on consumer demand.
3. Screen renters: Hosts now have the option to view potential renters’ profiles and review their past experiences with other hosts to make informed decisions. In addition, they can communicate with them to ask any questions and provide relevant details regarding their space when a booking request is received.
4. Rent out the space: After a renter has finalized the booking of their space, the host will receive payment directly via Neighbor.com’s platform. The host is also able to use this same platform to communicate with their renter and check on the status of the rental agreement.
5. Enjoy the income: When people rent out their property, it is a source of income for the host. This earned income can be used to pay for maintenance or repairs on the property, or it can act as extra income apart from their primary livelihood.

This is basically how Neighbor.com can help you make passive income from unused space in your home or property.

Is Neighbor.com Legit?

Neighbor.com is a secure and genuine way to make money off your extra space at home or out in the open. It has a proven success history, with countless hosts and renters using it to come together and do business.

To ensure your safety, Neighbor.com offers a range of features such as:

• Verified profiles: Neighbor.com makes sure everyone on their platform is legit by verifying the identities of hosts and renters alike – so everyone can have a safe, secure experience.
• Secure payments: Neighbor.com’s platform has got you covered when it comes to payments, keeping both hosts and renters safe from any fraudulent activities and other security risks.
• Insurance coverage: They offer insurance coverage to ensure that both hosts and renters are protected. So no need to stress, enjoy the experience with peace of mind.
• Customer support: Neighbor.com makes it easy to get assistance whenever you need it with their 24/7 customer support service – so you can rest assured that there’s help available anytime.

Who Can Use Neighbor.com to Host Their Space?

You can become a Neighbor host if you’ve got an unused place and the right to rent it out. That’s all there is to it!

If the idea of having a passive income is appealing to you, why not try becoming a host and listing your property? You won’t regret it!

What Kind of Spaces Can You Rent?

It’s more than just sheds!

From garages to attics, driveways to spare bedrooms, there’s no shortage of storage spaces you can rent out.

And we’re not just talking about typical storage spaces like sheds and basements. You can even earn money from street parking, warehouses, self-storage units, and shipping containers.

Just make sure to get the green light from your city or homeowners association before turning your street into a parking lot!

So, whether you have a backyard big enough for an RV or a closet that’s just collecting dust, turn those unused spaces into extra cash with Neighbor.

And who knows, you might even have some fun meeting new renters along the way.

What Can Be Stored on Neighbor, and What Can’t?

If you’re planning to use Neighbor.com to rent out unused space, it’s essential to understand which items are allowed and which ones aren’t.

Items allowed for storage on Neighbor.com:

• Furniture
• Clothing and textiles
• Electronics and appliances
• Sporting equipment
• Tools and hardware items
• Bicycles and motorcycles
• Vehicles (with certain restrictions)
• And many other household items

Prohibited items on Neighbor.com

• Illegal or stolen items
• Hazardous materials (e.g. chemicals, explosives, flammable liquids)
• Perishable items (e.g. food, plants)
• Illegal drugs and drug paraphernalia
• Live animals
• Any item that poses a risk to the health and safety of others

What’s the Potential Income With Neighbor?

Think this is what you really want to know, right? Okay… Your possible earnings through Neighbor can vary.

The potential income varies depending on a few factors such as the size of your space and its location. However, the more storage space you have to offer, the more money you can make!

Is that answer not good enough for you? Alright. For a ballpark figure, I’d say anywhere between $50 – $600 per month. Again, it pretty much depends on the storage space you’ve got and where it’s situated.

Since it doesn’t cost you anything to list your space, why not give it a shot now? Who knows how much extra income you could be bringing in each month?

But in all seriousness, with a little bit of luck and a lot of space, you could be making enough to finally take that long-awaited trip to Maldives.

Or at least buy a new set of golf clubs.

How Does Neighbor Make Money?

I mentioned before that getting your listing out there doesn’t cost you anything – so how does Neighbor.com make its money?

There is a small Service Fee included in the monthly rental payment. You will be charged a fee for this service, which covers several protections and services.

And as a host, you’ll pay a small 4.9% + $0.30 Processing Fee for each of your monthly payments. The fees they charge help them keep their system running smoothly and they also get to provide their $1 Million Host Guarantee and Payout Protection to give you the assurance that your money is safe.

That’s how they make money.

Make the Most of Your Money With Neighbor.com

Here’s a secret technique to help increase your listing’s visibility and ultimately make you more money – boosting its search ranking.

1. Prompt Replies Are Key

As a host on Neighbor, you will be assigned a “responsiveness score” based on the speed of your response to renters. If you take too long to reply or don’t respond at all, your search ranking may be affected.

Renters are searching for trustworthy hosts, and by responding quickly and efficiently to their messages, you’ll show that you’re dependable and reliable.

So, make sure to be prompt in your responses, even if you don’t plan on accepting the reservation. This will build the renters’ confidence in your hosting abilities.

2. Follow Neighbor.com Pricing Recommendations

Forget crunching the numbers all day. They’ve done it for you, so your price is guaranteed to be optimized and give you maximum profit. You don’t have to worry about missing anything.

3. Make Sure to Add at Least 3 or More Photos to Your Listing

Having more photos definitely brings more results. So, if you want to increase your visibility, just upload 3 or more pictures of your place. Here are some helpful tips to take pics with higher quality:

• Free up your space and give it a good clean. Doing so will make for better pictures and draw people in to see the place.
• Capturing your space from different perspectives is key – take shots from the corners and the doorways to show off your entire space.
• Pay attention to lighting while taking pics. If you want amazing results, position yourself so that the brightest light is behind you

4. Profile Photo and Personal Bio

Step up and be a good host. Letting a renter know they can trust you makes them feel much more comfortable, so make the effort to create that sense of security.

5. Provide First Month Discount

A neat deal here – check the box to give renters 50% off their first month’s rent. Even if they stay for less than 2 months, you’ll still get the full amount.

6. Reach Out for Ratings and Reviews

Ratings and reviews are the modern gold, basically a must-have for anyone looking to make money. Without them, it’s super hard to get more sales.

7. Download Neighbor App on Your Phone Now

The app makes it super easy to organize and keep track of your messages and bookings – it’s a breeze. Download the app from their website here (scroll to the bottom of the page).

Pros and Cons of Using Neighbor.com

Like with any platform, there are both pros and cons to using Neighbor.com. Let’s take a look at each:

Pros:

• Easy to get started
• A superb way to put extra cash in your pocket
• Simple payment processing
• Insurance for stored items
• It’s free to publish your listings
• The host’s identity is verified

Cons:

• Limited to certain locations
• Competition for storage space can be high in some areas
• Some items may not be allowed to be stored
• If you need renters to remove their belongings from your place, you’ll need to give them at least 30 days’ notice – otherwise, pay a $60 eviction fee.

What Does Trustpilot Say About Neighbor.com?

On Trustpilot, Neighbor.com has an average rating of 3.3 stars out of 5, indicating it’s a good option for those looking to make some extra money from their home.

However, there are also some bad reviews from renters who have had negative experiences with the service.

Some customers had issues when trying to cancel their rental – leading to some negative reviews out there. Unfortunately, their cards got charged before they could cancel it.

Final Thoughts – Neighbor.com Review

Well, it looks like Neighbor.com provides a unique opportunity for individuals to earn extra money by renting out their unused space.

However, as with any service that involves renting out your property, it’s important to thoroughly research and understand the safety measures in place. This includes checking out customer reviews, including Trustpilot, to get an idea of the experiences of others who have used the service.

At the end of the day, it really depends on your personal circumstances and comfort level with the service.

But hey, if you have some extra space just collecting dust, why not put it to good use and make some cash? Just make sure to do your due diligence to ensure it’s a safe and secure decision for you.

Monetize your extra space with Neighbor.com now.