STATEN ISLAND, N.Y. – Whether you live on Staten Island or elsewhere, if you own a home, you know it’s an important investment.
And like the best investments, it can make you some serious money. There are people happy to stay in your spare room or park in your driveway — and pay good money for it.
The Staten Island Board of Realtors (SIBOR) suggests you don’t let opportunities slip by.
Follow these tips to turn your property into a money-maker:
Rent out your driveway
Do you have more parking space than cars to fill it?
If you live near an express bus stop or a Staten Island Rapid Transit train station, you can collect parking fees from drivers willing to pay for proximity.
Make your home a star
If your property’s got the face for close-ups, you might want to rent it out for film or catalog shoots. This is not new for Staten Island—think Godfather House for example.
Shop your home around to film studios, production companies, and advertising firms. If a scout picks your house, you can earn about $2,000 to $4,000 per day —not to mention the chance to watch your abode on the silver screen.
Go back to the land
Those with a green thumb and a couple hundred square feet of growing space can turn their seasonal produce yield into regular income. You can save up to $23 per plant by building an edible garden with big ticket vegetables like tomatoes, cucumbers, and green beans. Sometimes, money does grow on trees.
Take in boarders
Whether you have a spare bedroom or a whole spare house, there are people who want to rent it. If your abode has a certain charm and you’re willing to put in marketing hours, you can transform unused space into a monthly moneymaker.
- Bed & breakfast: Have a cozy home and like playing host or hostess? A bed and breakfast might be for you. Costs and revenue vary greatly by the number of rooms: The more rooms at, say, $100, the more potential income, but that also means higher costs for upkeep.
- Rent your house: If you go on vacation or are otherwise out of town for extended periods, you might consider renting out the whole house. Be prepared for a commitment of time and money to make it work, or just hire a professional property manager for peace of mind. To calculate how much you could earn, check out the rental prices of other homes in your neighborhood.
About The Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-979-0007 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.
Media Contact: Barton Horowitz