How to make money leasing your items from party clothes to cars

Savvy savers can turn a tidy profit during the summer holidays by jumping on-board the sharing economy. Here’s how you can make some easy money.

Savvy savers can turn a tidy profit during the summer holidays by tapping into the sharing economy — and they barely need to lift a finger.

Demand heats up for peer-to-peer services like cars and campervans leasing, party clothes, accommodation and pet setting during the summer season, paving the way for people to turn their break into a lucrative money spinner.

The Sharing Hub, a sharing economy accelerator which hosts sites including The Volte, Mad Paws, Spacer, Airtasker and Camplify, says users could earn up to 60 per cent more between December and February.

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A new survey of the hub’s users found nearly one in 10 users had earned more than $2500 in a single month in 2018, with most using the different platforms as a way to supplement their income.

It found 30 per cent had earned $100-$500 in a month, 19 per cent under $100, 18 per cent between $500 and $1000, and 20 per cent between $1,000 and $2,0000.

Designer dress leasing business The Volte’s CEO, Kym Atkins, said some had even turned their peer-to-peer hiring service into a full-time career.

Kym Atkins, CEO of The Volte which leases designer dresses said money can be made from leasing out clothes.

The Volte has about 1500 lenders, with one finding it so successful she set up her own business, and another earning $250 each time she hires out a Zimmerman dress.

“I think culturally there has been a big shift in how people think now … they want convenience, flexibility, services on demand,” Ms Atkins said.

“With the sharing economy you can do more with less, and make some pretty handy extra money, especially over summer.

“One of my friends makes up to $600 a week on Mad Paws just by minding people’s animals, but one of the biggest dollar earners is campervans.”

Ms Atkins said it was important for users seek independent tax advice when earning extra income through sharing sites.

Odd jobs website Airtasker, which boasts more than 1.8 million members, said its highest earning Airtasker made $171,000 during 2017, while another member raked in more than $34,500 in a single month.

Airbnb’s country manager for Australia and New Zealand, Sam McDonagh, said the typical Airbnb host in Australia earned $110 a week or $5,700 a year in extra income.

But an independent report last year put estimated annual revenue at much higher. For a spare room alone, hosts could earn $9088 a year on the Gold Coast, and up to $18,472 in Sydney.

“With the cost of living high and wages growth flat, more working families are turning to home sharing to earn extra income,” Mr McDonagh said.

WHAT YOU CAN EARN

One storage space with Spacer.com.au — about $150/month

Parking spaces with Parkhound.com.au — up to $350/month

Dresses on The Volte — $20-$2000 per month

Campervans on Camplify — up to $9,000/month

Odd jobs and tasks on Airtasker — up to $5,000 a month

Originally published as How to make money leasing your items from party clothes to cars