If you have access to a sizable yard, you should consider renting it out for money. The most notable way to create a passive income stream from your backyard is by renting it out to campers. Yep, campers. The website Hipcamp offers a similar service as Airbnb, except it's for land. While being near nature isn't absolutely necessary, it does help to live in a more rural area if you want to keep your property rented as often as possible. Also it does help if you have at least an acre of land to spare. Plus, the more beautiful your backyard campsite is, the better. Read on for more information.
Renting Out Your Backyard
Hipcamp has been called the "Airbnb of backyards.” It is a peer-to-peer platform where hosts rent out their yards on a daily or even hourly basis. "Share your Land. Earn income." On this platform, anyone can host their picturesque land to campers, often earning many thousands of dollars in passive income per year. There's also many options, including the ability to manage your own micro economy, from adding unique amenities and extras to connecting campers with local activities and experiences.
With Hipcamp, you can also rent out the land for more than just camping or glamping (glamorous camping). Hipcamp customers can also park their RVs and Airstreams, on an hourly or daily basis. By the way, you should check out our post about renting out RVs. You might be able to create multiple passive income streams using these two blog article ideas.
At Hipcamp, anyone with a property that's close to nature- near national parks or mountains- can be a Hipcamp Host. "Whether you have an acre of primitive land near the Sierra Nevada, a hobby farm on the coast, a rural yard with a spot for a campervan, or a slice of desert on the way to Joshua Tree, odds are our community can’t wait to visit!" After I signed up with Hipcamp a few days ago, it immediately said I could earn up to $6385 per month in California with their platform!
What to Consider When Renting Out Your Yard to Campers
When you use Hipcamp, the land you possess should have certain qualities. To get your land rented faster, it'd help if it was near farms and ranches, and everything in between. You should also consider what parts of the land are off-limits to guests. Is smoking allowed? Is it okay to bring dogs? Is there enough parking spaces? What kind of extra amenities are available, such as fire pits or hot tubs? Is the bathroom(s) easily accessible?
Of course, safety is another concern, especially in regards to children. In the description of your property, make note of any unusual features that might be dangerous, like a lot of stairs or faulty surfaces. Hazardous chemicals and sharp objects in the area should also be mentioned. You'll also be covered in case of a rare event of injury or property damage. Insurance policies by these platforms protect hosts for up to $1 million for general liability claims per occurrence on every booking.
Laws and Regulations
To avoid hefty fees and frustration, do your due diligence regarding local zoning and taxing rules. By accepting money for renting out your land, that may make your property officially a business in some states. This may also result in a limitation in how many days you can rent out your space.
Another issue is whether your home is part of the homeowners association. If it is, you’ll also need to make sure you're following HOA regulations. You don't want to break any of their rules by hosting camping events.
To Get Started...
To get started on these platforms is quite easy. After signing up for an account, make sure you fill in the description of your property with the details you read above. Take clear photos that show off the beauty of your home, while also keeping them realistic. Finally, decide on available dates.
Don't forget to let your neighbors know you'll try to keep the noise down and heed their concerns. Unless you live in isolation, be considerate to them before opening up your property to renters.
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