Neighbor

What: An online company that connects homeowners online with people who need storage space

Expected pay: Set by you

Commissions & fees: 4.9%  + $0.30 processing fee charged to hosts

Where: Nationwide

Requirements: Be 18 or older; have storage/parking space available for rent

Review:

PROS:

  • Rental rates are set by the host.
    • The site encourages hosts to set their rates around half the cost of renting a similar space from a professional storage facility.
  • Payments are through direct deposit at the end of each month or rental term, whichever comes first.

CONS:

  • The site marks-up your space to pay for its services
  • 5% of the rental price is paid by hosts.
  • A sliding scale “service fee” on renters is also charged
  • A $20 inconvenience fee is charged for cancellations
  • There’s a $60 host eviction fee if you end the tenancy before the end of the term or with less than 30 days notice
  • You can be held liable for damage to a tenant’s property
    • Hosts should require a detailed listing of items being stored and the items’ condition to protect you from false claims.
  • The site has a very limited “guarantee” that says it will cover losses to both the host’s and the renter’s property but it is at the site’s discretion.
    • It is “secondary” coverage, so it only applies after your insurance is used
  • It is a relatively young site

Also check out CurbFlip, and Pavemint. You can also rent your space for special events with Peerspace and Splacer.

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