A Sydney builder has used the empty rooms of his house to earn money and rent the spaces to pay his mortgage.
Andy Woods, 36, lives in a house with five bedrooms, one empty bedroom, a two-car garage, and a home office.
Instead of letting the rooms gather dust and sit still, he rented them out through Spacer, a new platform that makes it easier to rent unused spaces.
Mr. Woods has lived in Collaroy’s house for two years, initially renting it out to friends who had moved back to Queensland during Covid.
“With the rising cost of living, it was a squeaky time. I had to either move out or rent out what I could to cover the costs,” he said.
“While the money will certainly come in handy, Covid has also been working in isolation, and I love that whole family feeling. We often cook and eat around the table, so I love that family atmosphere too.
“It was an absolute godsend financially as I now earn over $1200 a month on passive income.”
Camera IconMia Martens left rents out half of the empty garage space of Andy Woods’ house. Credit provided: NCA NewsWire
Mia Martens, 20, is an individual who rents one side of Mr. Woods’ double garage and uses the area as an office space and to store her surfboards.
Zack Georgoulas, 18, has hired the other side to set up a home gym.
“I’ve been recommending Spacer to so many friends lately as many are leaving their parents’ homes and looking for cheap storage options for things like their cars, scooters, and even large toolboxes,” said Ms. Martens.
“I feel like I’ve fallen on my feet with this place and already have friends asking if they can come and work at my office for a day.”
Camera IconZack Georgoulas, 18, rents the other empty half and has a home gym. Credit provided: NCA NewsWire
Spacer chief Mike Rosenbaum said the company had recently seen a dramatic increase in listings, with more than 30,000 places advertised through the platform.
He said there were about 13.5 million unused spare rooms in 10 million homes across the country, which was a “wasted asset” if left unused.
“If the space is empty, it will eventually cost you money. More people are cutting their costs and earning back on what they have,” said Mr. Rosenba. um.
“We now have more than 150 tenants on our waiting list. If you have space, you can make money almost immediately.
“I think Australians are becoming increasingly used to the concept of sharing. Using these otherwise underutilized spaces is better, or they will sit there and cost the owner money.”
Camera IconSpacer chief Mike Rosenbaum said the number of lists has skyrocketed in recent weeks. Credit provided: NCA NewsWire
