4 of the best ways to turn your home into a cash cow

Your house is a large expense with many associated costs like a mortgage payment, insurance, maintenance and more.

RELATED: How to Cash In on Short-Term Rentals Like Airbnb, VRBO

It provides a roof over your head, of course, but since it usually costs you money each month, why not put it to work for you and earn some cash in the process?

The following are four ways your house can make you money:

List your home with Airbnb or VRBO.

If you're planning to be out of town for a few days or don't mind bunking with a friend, you may be able to make some money by renting out your home through sites like Airbnb and VRBO.

Before jumping in, you'll need to take time to learn about the market, your expenses and any taxes you may need to pay. And before you list your property, you'll need to understand how to make it stand out with a good listing, including compelling photos and competitive pricing. Airbnb has a series of toolkits to help with this.

RELATED: Atlanta has Airbnb's most desired rental property in the world.

Rent it out to the area's growing TV and film industry.

When TV, film and commercial producers want to depict a home on screen, many times they'll rent the real thing, according to Money. It can be inconvenient for owners, however, since their homes may be taken over by a large crew and be completely rearranged.

On the other hand, homeowners often have fun with the experience while making some extra money. And while you're watching TV or a movie, you may be able to spot your home.

Host a foreign exchange student or faculty member.

Temporarily hosting a foreign exchange student or faculty member who's studying or teaching in this country can help you make some extra cash for anywhere from six weeks to six months at a time. You'll also be exposed to a different culture and language, and the experience could help you form a bond that lasts even when your guest returns home.

The Penny Hoarder suggests contacting student housing offices at local community colleges and universities, asking to be placed on their list of host families. After this, you'll have to apply, be interviewed, and allow your home to be toured. You'll also need to pass background and reference checks.

Rent out your driveway or storage space.

If you have extra space in your driveway, you may be able to make some money by letting others park there, according to Men's Health. This is especially true if you live near a commuter rail line or sports stadium, but you'll need to check to make sure you're not violating any local ordinances. Check out websites like JustPark to get started.

The Balance also suggests renting out any extra storage space you may have. From vehicles to personal items, your garage or home could help you make money through a site like StoreAtMyHouse.

Reader Comments ...

Next Up in Business

Hartsfield-Jackson to rebid CNN contract
Hartsfield-Jackson to rebid CNN contract
Hartsfield-Jackson International Airport plans to extend its contract for CNN Airport Network programming airing around the terminal and concourses, as it makes plans to rebid the contract. Atlanta-based CNN’s current contract for network news broadcast system at the Atlanta airport started in 2006. The contract was due to expire in 2016 and...
Ex-Equifax exec is arraigned and freed; pleads not guilty
Ex-Equifax exec is arraigned and freed; pleads not guilty

Jun Ying sat silently in court Thursday while Magistrate Judge Linda Walker debated the merits of letting him await trial a free man. The slightly built Ying, the former chief information officer of a sizeable Equifax unit, wore a tieless, blue dress shirt, black, beltless pants and a chain that bound his ankles. He was indicted Tuesday on charges...
Mercedes announces innovation lab as it opens Sandy Springs HQ
Mercedes announces innovation lab as it opens Sandy Springs HQ

Mercedes-Benz will open an innovation lab in metro Atlanta to dream up new products and business lines, a surprise announcement Thursday that came as the German automaker opened its glistening new North American headquarters in Sandy Springs. Lab1886, a reference to the year the founders of Mercedes’ parent company, Daimler Group, built the first...
High Museum photography exhibit features views of Hartsfield-Jackson
High Museum photography exhibit features views of Hartsfield-Jackson
A new photography exhibit that debuted this month at the High Museum of Art features images of Hartsfield-Jackson International Airport. The exhibit, called “Mark Steinmetz: Terminus” at the Atlanta museum running March 3-June 3 includes more than 60 works by Steinmetz, an Athens-based photographer. The exhibit is located on the lower level...
Mercedes-Benz USA to open Sandy Springs headquarters
Mercedes-Benz USA to open Sandy Springs headquarters

Mercedes-Benz USA on Thursday will hold a ceremonial opening its permanent home in Sandy Springs, a North American headquarters that will eventually house about 1,000 high-paid corporate jobs. The $93 million complex at Abernathy and Barfield roads near Ga. 400 is a calling card for company, and a symbol of the company’s new start in metro Atlanta...
More Stories