How to generate a truly passive income?
Kicking back with a drink and earning money – living the dream, right? Generating a passive income means making money without actively working for it. Sounds good, but is it true? And how do you approach it smartly?
What is passive income?
Generating a passive income means making money without actively working for it. However, it doesn’t mean getting rich while sleeping. Passive income is the income you receive for a past effort, but it is not necessarily a 9-to-5 job.It’s a “smart way” of working that leads you step by step towards financial freedom. If you want to know more about passive income? Read this.
There are many ways to generate passive income, including selling stocks, investing in funds, or lending money. But a lot of innovative theories about financial freedom, such as those of Codie Sanchez and the FIRE movement, are also popping up these days.
However, most of these methods require a lot of time and/or money, making them out of reach for many people. One often-overlooked method is renting out your own home.
How do you generate passive income with your own home?
There are several ways to generate a passive income with your home, such as renting out your whole or part of your home to tourists via platforms like Belvilla or Airbnb. You can also rent out your driveway as a parking space on Parkpnp, open your garden via Campspace, or share your pool through Swimmy.
Want more inspiration? Read these 11x tips to start your passive income.
What are the pitfalls of such passive income?
Sharing or renting out your own home comes with many benefits, but there are also drawbacks. Often, it’s these worries that hold us back. Here are a few to consider:
- There’s a lot of extra work involved in earning that “passive” income. If you rent out your home as a vacation rental, you not only have to make sure your guests are aware of all the how-to’s, but your entire house must also be spick and span, and your beds neatly made. It’s a lot of work to earn “passively.”
- Renting to individuals can bring problems. You know the horror stories – tourists who’ve had a few too many drinks, a wild party that gets out of hand, or an out-of-control celebration. They make for sensational footage, but you’d rather not see them in your home.
- Your home is mostly booked during weekends and holidays. Just when you could use a break yourself, the bookings start pouring in. And we’d rather not have that peak in holiday periods and weekends.
- And what about the administrative hassle? There’s a lot to consider when renting out your home. Are you adequately insured? And what paperwork do you need to complete to be in compliance?
Rental platforms like Airbnb are a great way to earn extra income, but they’re not for everyone. Do you want to let your home earn money for you without any worries? Discover how Meeting-out makes a difference.
How can you really earn passively through Meeting-out?
With Meeting-out, you can rent (part of) your home to accredited companies for meetings without a worry. And you don’t have to lift a finger, or almost not. Talk about passive income!
- No individuals, but accredited companies rent your home for professional purposes. If something does go wrong, our meet-out insurance has got you covered.
- Since you’re offering your home for meetings – not overnight stays – the preparation for a booking is minimal. A few checks and you’re set!
- You earn at least as much, and all while you’re at work. Or not, that’s up to you.
- The insurance and minimal administration are also a breeze. Plus, we guide you through every step.
- In addition, a high frequency of bookings can turn your home into a real side business. The real deal, in fact.
Do you want to generate passive income too? Become a rental owner now and enjoy these 5x early-bird benefits.
