Having been on a tight financial condition for a few years now, I became very interested in monetizing my current assets. I have some sources of passive income, below is a list of what I have available for rent in the market:
1. Condo room - since I only live by myself in my two bedroom unit, I have a spare room which I have opted to rent out. I have been renting it out for three years now. My previous tenant stayed with my for 2.5 years, and now my new tenant is in for a short stay for only 4 months, since he's a French student on internship only in Manila.
Renting out my condo room provides me passive income on a monthly basis. It's still a business so I must be very creative in advertising and offering the room for rent. I use OLX and other online advertising sites to post my room for rent.
2. Parking slot - My father recently sold our car, and with that I now have a parking slot that is empty. I contacted one of my neighbors and offered her my parking slot, which she happily agreed to rent out! Not only I get to earn passively, I also gained a new neighbor-friend :)
3. Vespa scooter - I prefer to use scooters than cars, it's very fuel efficient, fast, and reliable as well. One of my scooters however is a white, classy, and stylish Vespa which is rarely seen on the
streets. For almost a year now, I have been renting it out for people who want to use it as a props for their nuptial photos, videos, and even corporate events.
I think having things to rent it out as great way to earn passive income. Ownership of the asset doesn't change, and you get to use it more than what it's supposed to do - monetize it. If you want to monetize and earn from your current assets, you just have to be flexible, creative, and open to other possibilities!
1. Condo room - since I only live by myself in my two bedroom unit, I have a spare room which I have opted to rent out. I have been renting it out for three years now. My previous tenant stayed with my for 2.5 years, and now my new tenant is in for a short stay for only 4 months, since he's a French student on internship only in Manila.
Renting out my condo room provides me passive income on a monthly basis. It's still a business so I must be very creative in advertising and offering the room for rent. I use OLX and other online advertising sites to post my room for rent.
2. Parking slot - My father recently sold our car, and with that I now have a parking slot that is empty. I contacted one of my neighbors and offered her my parking slot, which she happily agreed to rent out! Not only I get to earn passively, I also gained a new neighbor-friend :)
3. Vespa scooter - I prefer to use scooters than cars, it's very fuel efficient, fast, and reliable as well. One of my scooters however is a white, classy, and stylish Vespa which is rarely seen on the
streets. For almost a year now, I have been renting it out for people who want to use it as a props for their nuptial photos, videos, and even corporate events.
I think having things to rent it out as great way to earn passive income. Ownership of the asset doesn't change, and you get to use it more than what it's supposed to do - monetize it. If you want to monetize and earn from your current assets, you just have to be flexible, creative, and open to other possibilities!
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