Neighbor.com Review 2023: A Great Way to Earn Extra Income
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There are different types of passive income ideas and side hustles that allow you to make money on the side like HyreCar and DoorDash, but those side gigs often require you to invest a little capital upfront to get it going.
For this reason, one of the real ways to make money from home as part of passive income is to rent out your unused space on Neighbor in order that you can earn extra income monthly.
After completing the registration and getting approval, then members are able to list their home unused space such as garage storage or self-storage on the platform.
You will make extra cash if there is a local client who successfully rented your space ( we will discuss this part in more detail in the next section).
In this post today, we will take a complete review of Neighbor.com in terms of how it works and its features, as well as its pros and cons. It gives you more information to consider whether it is the right app for you.
Here are additional readings that are relevant to side hustles and making money from home: continue to read for more information.
Table of Contents
- Neighbor.com is called an Airbnb for storage due to the fact that the platform allows members to rent out their unused storage and earn additional income monthly.
- As long as you have free spaces, then you can earn passive income by listing unused spaces on the platform.
- After completing the registration and listing of your home, then the firm will take care of everything in terms of finding clients and receiving payment for you.
What is Neighbor.com?
Neighbor is an online marketplace that concentrates on providing self-storage solutions for those who need to rent a space to keep their products or equipment. In addition, host members can make extra income by listing unused spaces on the platform.
The company was founded in 2017 by co-founders Preston Alder, Colton Gardner, and Joseph Woodbury. The head office is located in Lehi, Utah, in the United States.
Significantly, the firm business model achieved numerous awards from several organizations like the government and education institutions ( read more on Wikipedia).
At the time of writing, the platform operates its business in more than 49 states in the USA and also offers a cross range of self-storage services, which include business storage, indoor storage, car storage, etc.
The original mission of Neighbor is to provide the solution to space problems within local communities, which helps renters to find a space while also creating additional income for host members.
How does Neighbor work?
Neighbor is an ideal solution for both renters and hosts due to the fact that renters can save money on their budget just to rent a space from the platform. It’s because they may find it not too expensive to compare other self-storage facilities.
For renters, you can head to the Neighbor.com website to find out more information about what you can find spaces on the platform.
Here is the list of the general rental storage you may consider:
- General self-storage
- Business storage and warehouse storage.
- Parking space
- Vehicle Storage
Importantly, there is a list of restrictions that renters are restricted to store in the host’s space because it makes sure to provide safety and protection for renters and hosts.
- Hazardous materials
- Stolen products.
In addition, hosts can find different real ways to make money from home by renting out their home unused spaces such as garages, parking spaces, bedrooms, etc.
There is host protection of up to 1 million dollars from Neighbor.com for general liability protection, while renters also get cover for product damage and theft of up to $25,000 ( you can find out more information on the main website).
Unlike other side gigs like Uber or DoorDash, you need to put extra effort into making money on the weekend in your free time. The advantage of leasing your space is you earn additional passive income while still enjoying what you do.
In terms of safety and privacy, the company urges both renters and hosts only communicate using either the app or website throughout the renting process as it will protect your personal information like phone numbers.
In terms of customer services, the customer support team is very responsive as you can contact them via phone, email, and live chat. The team will be there to answer any inquiries to your satisfaction.
How to make money with Neighbor?
By renting out your home spaces on Neighbor, it doesn’t require any ongoing hard work to deal with some hassles, including payment, advertising, and protection for renters and hosts.
In particular, if you have unused places like the backyard, garage, parking space, or even a spare bedroom, then you can apply for a listing on the platform and make extra income on the side.
The company team will take care of almost everything on your behalf by finding renters and processing payments. Thus, you can have peace of mind not directly dealing with those work by yourself.
Keep in mind that Neighbor.com will charge 4.9% plus 30 cents for the service fee using the platform, which means you pay if someone reserved your spare space.
How do I open an account?
The process of opening an account is quite straightforward. You first need to go to the Neighbor homepage and input your email address, ID, and phone number.
Keep in mind that you need to verify your email address and phone number in order to make your account active and that you can list spare spaces on the platform and make extra income.
Is Neighbor legit?
One of the greatest benefits of using the platform is that hosts will continue to receive payment from Neighbor if renters stop making payments while still using your spaces.
In addition, the firm uses the PCI-compliant payment processor- Stripe to protect and encrypt every payment and transition. Other largest tech firms like Amazon and Facebook also use the same processor.
As mentioned earlier, renters and hosts are required to verify their email addresses, phone numbers, and ID in order to use the account. It’s one of the security measures the company uses to protect. customers.
To answer the question, ” YES” Neighbor is a legitimate company, which helps hosts to earn passive income and renters save money on the renting fee.
Neighbor pros and cons
- A great option for renters is to save money by renting a space on the platform and storing their products.
- Hosts earn extra income just to list their unused spaces on the platform. They don’t need to worry about anything associated with payment and find renters.
- Provide liability, theft, and damage protection for both hosts and renters.
- Implement safety measures like verifying email, phone number, and ID in order to list spaces on the platform.
- There is a processing fee that charges for every reservation.
Conclusion of Neighbor app review
The Neighbor app is an ideal solution for hosts, who have empty space in their homes, they can use the platform to rent out to renters and earn extra income over time.
In addition, renters take advantage of using the app by finding available spaces and storing their products within a short period. Also, the firm provides a cover of up to $25,000 for theft and damage protection.
It’s worth considering Neighbor to rent or list your unused spaces.
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By Jiro Nguyen.
The content is only based on the author’s personal opinion and experience. It is for informational purposes only and does not rely on as a comprehensive or substitute for professional advice.