Like most people, you probably use your backyard for a variety of activities, such as hanging out with friends and family, relaxing after work, grilling, etc. But did you know that your small parcel of land can be the answer to your financial difficulties?
That’s right, if you’ve been looking for easy ways to make money from home, look no further than your backyard! By utilizing the spare space on your outdoor property, you can make some extra money, and start a profitable side hustle, or a lucrative full-time business.
In this post, we’re sharing 6 creative tips on how to make money in your backyard.
1. Build a Rental House
Depending on your backyard’s size, you can put a mobile home or build a rental home to earn some extra income. However, be sure to get in touch with your local zoning officials to see what you can and can’t do on your property. Some cities around the US, such as Los Angeles, are creating new housing laws or relaxing zoning codes to solve the problem of a lack of rental homes.
The amount you can charge for rent is determined by your location and whether you wish to rent it as a holiday rental or for a long period of time. On Airbnb, cabins, cottages, and guesthouses range between $25 and $150 per night. You should also be aware that the IRS considers a rental property to be a business, and you will have to disclose all received rent and paid expenses.
2. Rent Your Backyard as a Camping Site
If your property is close to a natural attraction, a unique trailhead, or a lake, you can rent your backyard as a campground via online marketplaces that offer camping experiences and outdoor stars, such as Tentrr and HipCamp.
All you need to do is list your backyard as an available camping site and backpackers and campers who are interested will bring their gear. Alternatively, you can consider providing a ready-made camp for glampers and offer access to amenities and comforts such as toilets and cooking to charge a higher fee.
3. Start an Ice Vending Machine Business
Starting an ice machine business can be a great way to generate some extra income and improve your finances. All you need to do is purchase the right ice vending machine, place it in your yard, and enjoy the stream of passive income that it will generate for you!
Ice vending machines cost from $30k – $100k and based on average sales volume and typical pricing, you can expect to make about $3,660 a month in net profit.
4. Rent Out Storage Space
Another possibility is renting your outdoor property for storage to people looking for cheaper options than costly commercial storage spaces, like small business owners with lots of supplies and tools (woodcutters, plumbers).
Again, be sure to check whether it’s legal to rent out such spaces in your area. You should also consider investing in an insurance policy so that you’re not liable for any damage to other people’s possessions.
5. Offer Your Backyard as a Wedding Venue
If you have a large, beautiful backyard with plenty of lawn space, consider renting it for wedding ceremonies. However, if you decide to do so, be prepared for a great number of people who will be trampling your grass, using your bathrooms, and making a lot of noise.
Connect with local event and wedding planners to find out how much money you can make by turning your property into a wedding venue.
6. Consider Turning Your Backyard Into a Movie or Photoshoot Location
You don’t need a lavish mansion to rent your home for a movie shoot. Many shows and movies feature ordinary homes, and Peerspace is an excellent way to get your home listed. According to nola.com, homeowners can make anywhere from $1,000 to $5,000 per day! Alternatively, if your outdoor space is photogenic, you can rent it as a location for photographers.
As with weddings, photoshoots and movie productions mean a large crew of people and plenty of equipment that can wreak havoc on your property, so be sure to think this option through.
As you can see, there are many ways to make money from home by utilizing your own backyard. The key is to start small and learn the ropes of operating a backyard small business.
Whatever path you pick to make money from your outdoor property, bear in mind that it’s a business and you’re profiting from it. This means that you’ll have to come to terms with taxation, so be sure to maintain accurate records and follow all local requirements.