Almost anything you own and aren’t using full-time can generate rental income, from your car and parking spaces to baby gear and power tools. The key is matching what you already have with platforms that connect you to paying renters. Here’s a practical breakdown of what’s worth renting out, what you can realistically earn, and how to protect yourself along the way.
Parking Spaces, Driveways, and Storage
If you have unused space on your property, renting it out is one of the simplest ways to earn passive income. Platforms like Neighbor let you list driveways, empty lots, fenced yards, garages, and spare rooms as storage or parking. Listings on Neighbor typically earn around $925 a month, depending on property location and space size. The platform takes a small percentage of each rental, but you’re not doing much beyond making the space available.
What makes this appealing is how little effort it requires. You don’t need to buy inventory or maintain equipment. A driveway near a stadium, airport, or downtown area commands higher parking rates. A clean, dry garage or basement can attract renters who need overflow storage but don’t want to pay for a traditional storage unit. Even a patch of land large enough to park an RV or boat trailer has value in areas where street parking is restricted.
Your Car
Peer-to-peer car sharing platforms like Turo let you rent your personal vehicle to others when you’re not driving it. Earnings vary widely based on your car’s make, model, age, and location, but owners of newer or in-demand vehicles in urban areas can earn several hundred dollars a month from just a handful of rentals.
One important detail: your personal auto insurance policy typically won’t cover your car while it’s being rented through a car-sharing service. In some states, your insurer may even deny you coverage entirely if they find out you’re renting your car. The platforms themselves offer protection plans that include liability coverage, repair reimbursement, cleaning reimbursement, and roadside assistance. Some also offer more traditional coverages like collision and comprehensive. When you sign up as a host, you’ll select a protection plan that includes at least third-party liability insurance. You still need to maintain your own personal auto policy on top of whatever the platform provides.
If you’re renting out multiple vehicles, you may want to look into commercial car-sharing insurance, which can replace the platform’s built-in protection plans and may offer broader coverage.
Baby Gear
Traveling families often need cribs, car seats, strollers, and high chairs at their destination but don’t want to lug them through airports. BabyQuip connects gear owners with these families, and the platform describes itself as one of the highest-earning side gigs after Airbnb hosting. Full-size cribs are the single most rented item on the platform.
Beyond cribs, you can rent out car seats, strollers, wagons, high chairs, bouncers, swings, bath seats, and even toys and books. If you live near a tourist destination, airport, or popular vacation rental area, demand tends to be strong. You set your own prices and handle delivery and pickup, which means earnings scale with how much inventory you build up and how active your local market is.
Tools and Equipment
Most homeowners use their power tools a handful of times a year. Platforms and local rental arrangements let you earn money from tools that otherwise sit in your garage. Pressure washers, table saws, tile cutters, concrete mixers, and lawn aerators are especially popular because people need them for one-off projects but can’t justify buying them outright.
You can list tools on peer-to-peer rental apps or simply advertise locally through community marketplaces. Pricing typically runs at a fraction of what hardware store rental departments charge, which makes your listing attractive to renters while still generating solid returns on equipment you’ve already paid for. Higher-value tools like generators, chainsaws, and commercial-grade lawn equipment command the best daily rates.
Camera Gear and Electronics
DSLR cameras, lenses, drones, GoPros, projectors, and DJ equipment all rent well because they’re expensive to buy and many people only need them for a weekend event or a single project. Platforms like Fat Llama and ShareGrid (for film and photo gear specifically) facilitate these rentals. A quality camera lens that cost you $1,500 can earn $50 to $100 per day on rental, potentially paying for itself within a few months of occasional use by others.
Recreational Gear and Vehicles
Kayaks, paddleboards, bikes, camping equipment, ski gear, and surfboards all have seasonal rental demand, especially if you live near water, mountains, or popular outdoor recreation areas. RVs and camper vans are another strong category. Platforms like Outdoorsy and RVshare let you list recreational vehicles, and owners in popular travel corridors can earn thousands per month during peak season.
Even simpler items like coolers, camping tents, and fishing gear have a market among occasional adventurers who don’t want to invest in equipment they’ll use once a year.
Your Home or a Spare Room
Short-term rental through Airbnb or Vrbo remains one of the most well-known ways to rent what you have. But you don’t need a second property. A spare bedroom, a finished basement with a separate entrance, or even your entire home while you’re traveling can generate meaningful income. Earnings depend heavily on location, but even in mid-size cities, a well-maintained room with good photos and responsive hosting can bring in several hundred dollars a month.
If short-term hosting feels like too much work, you can also rent a room on a longer-term basis through traditional roommate arrangements, which offer steadier income with less turnover.
Clothing and Formal Wear
Designer dresses, suits, handbags, and accessories can be rented through platforms like Rent the Rack or listed on consignment-style rental apps. If your closet includes high-end pieces you rarely wear, renting them out lets you recoup some of the original purchase price. Formal wear and occasion-specific clothing (wedding guest dresses, black-tie attire) rents particularly well because borrowers need it for a single event.
How Rental Income Gets Taxed
All rental income is taxable, whether you’re renting a parking space or a power drill. You’ll report it on your tax return, and if you earn enough through a platform, you may receive a 1099-K form summarizing your payments.
The good news is that you can deduct a range of expenses against your rental income. The IRS allows deductions for depreciation (the gradual wear and tear on your property or equipment), repair costs to keep items in working condition, and operating expenses like platform fees, cleaning supplies, or any contractors you hire to help. Depreciation is especially valuable for higher-cost items like vehicles and camera equipment, because it lets you write off a portion of the original purchase price each year.
You may also qualify for an additional 20% deduction on qualified business income if your rental activity meets certain safe harbor requirements. Keeping detailed records of your expenses, including receipts for maintenance, insurance premiums, and platform fees, will make tax time significantly easier and ensure you’re not overpaying.
Protecting Yourself as a Renter-Out
Before listing anything, check whether your existing insurance policies cover the activity. As noted with car sharing, personal policies often exclude commercial or peer-to-peer rental use. The same principle applies to homeowners insurance if you’re hosting guests, or to any valuable equipment you lend out.
Most established platforms provide some level of host protection, ranging from liability coverage to damage guarantees. Read the specifics of what’s included, because coverage levels and deductibles vary. For high-value assets like vehicles or expensive equipment, consider whether the platform’s built-in protection is sufficient or whether supplemental insurance makes sense. Document the condition of your items with photos or video before each rental so you have evidence if a damage claim arises.