Stache helps connect people with unused storage space with people who are willing to pay for storage
Expected pay: You set it
Commissions & fees: 5% paid by hosts; 10% paid by renters
Where: 42 states, including California, Arizona, Texas, New York, New Jersey, Illinois and Georgia
Requirements: 18 or older, have space and the ability to take good photos of it, inside and out.
Got extra space? An unused parking space or open shelving in your garage or attic? Stache can help you rent it out to people who have more stuff than space.
The site maintains that both renter and host benefit. The host earns money with very little effort; the renter usually gets a bargain price for storage.
How it works
Hosts register and create a profile of themselves and their space. Customers search for storage space in their area. When they find a match, they contact the host, who can accept or reject a rental.
Host are asked to respond to rental requests within 72 hours; and to rental access requests — when a renter wants access to their stored belongings — within 48 hours.
While hosts officially set their own rental rates, Stache suggests that you list space at a 25% to 33% discount from similar space listed elsewhere.
Hosts pay a 5% commission when the site finds them a willing renter. The renter also pays a fee.
What we like
Stache automatically covers the host with a $1 million liability policy. The coverage is secondary to your own homeowner’s coverage. But your own coverage may be useless because injuries related to a commercial arrangement (like renting your garage) are often excluded under personal homeowners policies.
Stache also automatically covers renters for some property losses and allows them to buy additional coverage, if the stored goods are expensive.
That should protect the host from any loss that didn’t stem from negligence.
Also, where competitor Neighbor, can levy fines if the host wants to cancel a storage agreement, Stache simply demands a four-week notice for terminating deals.
If you have extra storage space, we think Stache is a good place to list its availability.
If you have other things you might be willing to rent, from sporting equipment to a parking space, you may also want to check out our blog post on Ways to Generate Passive Income.