Short on cash? Some Americans are renting out their stuff to pay bills amid pandemic

Would you rent out your pool to your neighbors? What about baby gear? Or sporting goods?

That’s exactly what some people are doing to make ends meet during the coronavirus pandemic.

It’s called peer-to-peer renting and is typically done through a website or app, much like renting a vacation home on AirBnb. Some are item-specific — there are sites dedicated to baby gear, cameras and cars, among other things — and others feature miscellaneous rentals in your location.

Are people really renting out their possessions?

Yoodlize is a platform for peer-to-peer rentals in Utah County, Utah, the Daily Herald reported. CEO Jason Fairbourne said he’s seen an uptick in business since the onset of the COVID-19 pandemic.

“We’ve seen activity pick up almost two fold in the last month,” Fairbourne told the newspaper. “And I think part of it is people are becoming more strapped for cash, so they want to rent some items and earn extra money, and they would like to be able to have ... unique experiences without spending as much.”

Through the app, people can rent out belongings such as instruments, power tools and outdoor equipment, the Herald reported.

“The idea is that, collectively, we own everything in society,” Fairbourne told the newspaper.

Others aren’t renting out items — they’re renting out locations, like backyard swimming pools.

Rental app Swimply lets swimmers rent their neighbor’s pool for an hourly fee. Prices average $45 an hour, CNN reported.

Jan Lohmann lives in Plano, Texas, and has a 40-foot pool in her backyard, KXAS reported. She said she’s been busy since social distancing became a public concern.

“I’ve been pretty busy, there’s a steady stream of people out there, most of them high school swimmers,” she told the outlet. “Since I do have a longer pool than most, they’re able to really get in a good workout there able to dive.”

Lohmann said many of the people who’ve visited her pool live in apartments and don’t want to risk trips to the public pool — if it’s even open, KXAS reported.

Swimply founder Bunim Laskin said he’s surprised by how important the platform has become, lowering prices to make it easier for people to afford pool rentals during the pandemic, according to the outlet.

“Especially right now with the current climate, our pool owners probably can use the money more than ever so it’s a great way to also support the community locally,” Laskin told KXAS.

But be sure to read up on their insurance policies and check with your insurance agent before listing or renting, the San Diego Union Tribune reported.

For instance, Swimply recommends that pool hosts “obtain appropriate insurance for their pools,” according to the terms and conditions. Rental agreements are between the guest and the renter, as Swimply does not act as an insurer, according to the company.

Are people making money?

Much like Yoodlize, FriendWithA... is a platform that lets people rent gear from neighbors but allows listings from all across the country.

You can list all kinds of goods, but the platform specializes in high-end sporting goods such as electric scooters and bikes, the San Diego Union Tribune reported.

Founder Stefan Cordova said he’s seen listers make some serious cash.

“We have people making $3,000 or $4,000 renting out things that they already own,” he told the Tribune. “You also get to share the gear that you love with like-minded individuals.”

Want to list your stuff?

There are a number of options for people looking to list their belongings to make extra cash during the pandemic. Here are a few platforms peer-to-peer renting platforms that might surprise you:

Baby gear

Baby Quip lets you rent out baby gear including cribs, car seats, strollers, toys, carriers and other items to parents traveling to your area.

Boats

Boatsetter and GetMyBoat allow you to rent out your watercraft including boats, kayaks and jet skis.

Cameras and camera gear

Sharegrid and Kitsplit are platforms for renting out camera gear, often to filmmakers and photographers.

Cars

Turo allows you to list your car to rent to travelers all around the world, the company said. Someone who rents out one car makes an average $500 a month in the U.S., according to the company’s website. Getaround is another platform for peer-to-peer car rentals.

Using Fetch, truck and van owners can rent out their vehicles by their hour or by the day.

Parking Spaces

If parking is difficult to find in your area, platforms such as ParqEx, Curbflip and Pavemint allow you to rent out your parking space, garage or driveway to motorists.