The dawn of the digital workplace that began with companies like e-lance, oDesk (now Upwork), and fiverr, brought skilled individuals an opportunity to make a living on their own terms. Today, we're seeing a host of new economic opportunity, especially embraced by "Generation Gig," the growing number of millennials choosing to forgo a 9-to-5 existence.
This opportunity lies in the emerging sharing economy; a collaborative consumption trend where individuals rent or borrow goods rather than buy and own them. "Being a rental entrepreneur is big business these days," says Rentalpreneur expert , Rachel Prince. "Peer-to-peer mobile platforms have changed the way we do business. You can rent out just about anything, claim your own hours, and get paid immediately."
It's never been easier to ditch the day job and fund your dreams without putting your home up for collateral on a bank loan. Instead, put your assets to use on your own terms when you consider one of these popular gigs to generate the extra income you need.
1. Home Share
Airbnb is the leading company of the travel sharing economy. "Hosts list anything from a tree house to a castle and earn anywhere from $20 to over $1,000 a night, depending on the type of accommodation," says Prince. "You can rent out a room in your home or rent an entire property." The San Francisco based company has more than 550,000 listings in 192 countries and millions of users and takes a nominal 3% for bringing paying travelers to your doorstep.
2. Car Share
From truck to Tesla anyone with a car can turn their depreciating asset into an earning engine. Car owners earn extra money renting their car to travelers or to people merely in need of a car for a day. San Francisco based company, Turo, is a pioneer in the car sharing economy and travel industry with rentals in over 2,500 cities, 800 airports and 800 makes and models of vehicles. On average car owners can earn $600/month, more if they own more than one vehicle. Cars are covered by a $1 million insurance policy.
3. Ride Share
Users list their ride free on ride share service, Splinlister. It includes bikes, surfboards, skis, and snowboards. After Splinlister reviews the details and photos of your ride it goes live. Users communicate and pre-approve renters with a date and time to rent their ride. Spinlister pays after the rental is complete. On average, people earn up to $500 a month. Users need not fret about dents and scratches because Spinlister insures up to $10,000 for bikes, $2,000 for surfboards and $1,000 for skis and snowboards.