Are you looking for a way to earn extra cash passively?
If so, there’s a site called Neighbor that claims you can rent out your extra storage at home to people.
It’s certainly an interesting way to earn extra cash, so I decided to take a closer look to see if it is legit or just another scam to stay away from.
In this Neighbor review, I will show you the full details of what the site has to offer so you will know exactly what to expect from it. Then you can properly evaluate if it is worth it for you or not.
So let’s go ahead and check out Neighbor, shall we?
What is Neighbor, and what does it offer?
Neighbor is a storage rental site that will let you rent out your free space at home to earn extra cash. It is indeed a legit site since you can really earn money by renting out storage space to clients. But the question now is, is it worth it?
Well, the best way to find out is to take a closer look at the opportunity it offers so you will have a clear understanding of how it works and what you need to do to earn. So here’s how to earn from Neighbor.
The earning opportunity – Renting out storage
The only way to earn from Neighbor is to rent out storage space to people. The good thing about Neighbor is you can rent out storage space no matter how big or small it is.
As you can see in the photo above, you can even rent out your shed if you are not using it. That way, you can earn some money passively. To start the process of earning, once you become a host for Neighbor, you just have to log in to the member dashboard and create a listing for the storage space you want to rent out.
In the listing, you can indicate the capacity of the space you want to rent out. You can also indicate the type of items clients can store in the storage space. The best practice when listing storage space is to describe the space as clearly and honestly as you can. The storage space is rented out on a monthly basis.
As for the pricing of the storage space, you have the option to use the Smart Pricing feature of Neighbor, which automatically adjusts your listing price higher or lower depending on renter demand, or you can also just indicate the price yourself.
Both have their own pros and cons, but in my opinion, if you are new to Neighbor, it would be a safer bet to use the smart pricing so you will know how much your storage space is worth.
Later on, you can just adjust your pricing accordingly to attract more clients. After your listing is created, all you have to do is wait for someone to get in touch with you regarding your listing. If someone is interested in your listing, they can either request a visit to view your storage space or reserve the space immediately.
You will receive a notification on your Neighbor dashboard when that happens. You’ll receive an email as well if anyone is interested in your listing, so make sure to check your email inbox regularly once you publish a listing.
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How do you get paid?
On the first day of every rental period, Neighbor will automatically charge your renter’s credit card. This ensures they have paid to rent your space. Then, once the rental period is over, Neighbor will send your earnings via Stripe to your bank account.
You’ll typically see the amount show up in your bank account in two to three business days. You don’t need to earn a specific amount for Neighbor to send your earnings. Just keep in mind that Neighbor charges a 4.9% + $0.30 processing fee for every payout (which is how Neighbor earns).
Overall, the payment system of Neighbor is relatively straightforward. I like the fact that it offers a convenient payment method like direct bank transfer. If you are interested in more sites that offer a convenient payment method, I recommend you check out the top sites that pay via direct bank transfer.
How much money can you make?
The amount you can earn will mostly depend on how many clients will rent out your storage space. And unfortunately, you don’t really have control over that.
The only thing you can control is how much you can earn from the storage space you are renting out since you will be able to set the rental price of your storage space.
And as I’ve explained earlier, the best practice is to ensure that you describe your storage space as clearly and honestly as you can to entice people to rent your space. This is the best strategy to maximize your earnings from this site.
But overall, what I like about Neighbor is that you can potentially earn passively from something you aren’t really using. That’s why I would still consider its earning potential quite decent, even though there’s really no guarantee you can earn from the opportunity it offers.
Can you use it on mobile?
The good thing about Neighbor is that it has a mobile app you can download, so you can check your listings easily even when you are not in front of your computer.
The app is available for download on both Android and iOS app stores, so compatibility won’t be a problem. The app is also very easy to use, so you won’t have a problem navigating it.
If you plan to become a Neighbor host, I highly recommend you also download the app so you can immediately know if someone is interested in your listing. This is the best benefit you can get from using the app. You can immediately attend to the client interested in renting your space.
Who can join Neighbor?
You can sign up as a Neighbor host anywhere in the world. The only problem is that if you check all the listings available, they are all in the US, so even though you can become a Neighbor host regardless of where you live, it is really only available for people in the US. If you live somewhere else, then this opportunity is not for you.
To sign up, you can fill out the registration form, or you can also just use your Google or Facebook account. After you’ve completed the registration form, you’ll have to go through a verification process that will involve several steps.
This verification process is essentially for verifying your identity, so expect to provide a photo of a government-issued ID (like a passport, driver’s license, etc.). After you’ve completed the verification process, you can start creating a listing for your storage space for rent.
Can you get support?
If you have any questions about the site or your account, you can check out the Help page. It discusses in detail all of the important things you need to know as a host for Neighbor.
If you can’t find the answers you are looking for, you can just contact Neighbor’s customer support. You can either send them an email using the contact form provided by the website, or you can also just call their hotline number, which is displayed on the Contact page.
Overall, I would say Neighbor does provide decent support to its members since it offers a couple of convenient ways for you to request assistance.
Final Verdict
Neighbor is a legit site to earn extra cash by renting out storage space to anyone interested. It has its advantages, but it also has a few disadvantages you need to consider.
Let me conclude this review by summarizing its pros and cons to give you an overview of what Neighbor has to offer. Then you can decide if this is the right opportunity for you or not.
Pros:
- Offers a passive way of earning
- No payout threshold
- Has a mobile app you can download
Cons:
- Doesn’t offer guaranteed ways to earn
- Slightly long registration process
In my opinion, if you’ve got space to spare at home and you want to earn extra cash, Neighbor is a decent option. Just don’t expect to be earning a lot of money from it. That’s why if you are intent on becoming a Neighbor host, make sure to temper your expectations since it doesn’t really offer a guaranteed way to earn.
It just offers an opportunity for you to make some money on something you have and are not using anyway. This is the true value Neighbor offers, in my opinion.
Now, if you are looking for a stable way to earn extra cash, I suggest you check out the top survey and GPT sites in your country instead. The sites on this list all have good earning potential, so you will be able to earn a decent in no time.
Plus, you will definitely find a site you can join regardless of where you live.
If you have any comments, questions, or have any experiences with Neighbor yourself, I would love to hear from you in a comment below.