This trial as told is based on a conversation with Stacy Spahr, 57, which has an insurance company in Portland, Oregon. Since 2022, Spahr has used the neighbor of the storage and parking platform to rent land on their property to people who need a place to park their vehicles or boats.
It was published for duration and clarity.
I have a two acres property about 30 minutes from the city center of Portland which has a small rental house on it. I bought it from my parents in 2022.
Before buying the property, my father had used the land to store business for some of his friends – things like trailers. He was old -fashioned, so the arrangements were made with just a handshake.
As a new owner, it was logical to continue. There are about 21 lots on the property and I did not have enough friends to fill them. I knew that I had to bring in other tenants, ideally via a platform that could remove a large part of the work on my plate.
I came across Neighbor On Google. The platform helps owners to find tenants who need parking spaces. The company acts a bit like a real estate manager, mediating between me and the tenants.
I do not really take care with the tenants, except via the messaging function of the application, which I use very little. Honestly, he almost has the impression that the tenant directs the show – I only make the space available and collect money.
I started to rent my property in 2022. I had motorhomesTrailers, boats and even a bus parked in the field, and I have won about $ 74,000 so far.
The rental of my courtyard in Voisine is a low elevator
I use the neighbor on my phone as an application, but it is also available online.
The platform works quite simply: I am enumerating my available spaces, and the neighbor suggests how much I have to charge, although I can adjust the price. The company checks the tenants through their driving license. The tenant pays NeighborThen 30 days after the payment of payment, the neighbor deposits the money in my current account.
The company takes a small reduction in rent and invoices the tenant of service costs to the tenant.
Spahr guests parked cars, boats and VR on the property. With the kind permission of Stacy Spahr
A cool thing about the platform is that the neighbor guarantees payment.
On a few times, the tenants have lagged behind payments. When this happens, the neighbor sends me a notification and asks me to support instructions. They could ask for a photo of what is on site, and as long as I am their requests, such as sending photos of the lot or allowing a tow truck to come to the property, I am always paid.
People have tried to go outside the application from time to time, like: “Hey, here is my phone number, can we work directly with something?” They usually try to avoid costs. But I always say no. The use of the application offers insurance coverage and records all our conversations. If there is never a problem, the neighbor stands behind.
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The spots on my land are constantly reserved
I started in June 2022 with a single place. It was rented in one day, so I started another place. He praised quickly. I continued to add to the spots, and now I have about 21.
The batches on my property are almost always full. I currently have an open, which is rare.
Each batch is a little different. For example, I have a cover and some larger ones, so prices can vary. My cheapest space rents $ 90 per month, and the most expensive for $ 200.
This June will work three years with the neighbor. In 2022, when I started, I won $ 7,660; In 2023, I won $ 25,436; In 2024, I won $ 29,743; And until May 2025, I expect to have won $ 11,572.
Spahr invoices between $ 90 and $ 200 for each lot. With the kind permission of Stacy Spahr
My mortgage payment On the property is around $ 2,500 per month. My daughter, a traveling nurse, rents a house on the property on my part.
On average, I earn about $ 2,500 per month from neighboring tenants.
After covering the taxes and a few other expenses – maybe about $ 500 – I find myself with a few thousand dollars a month, free and clear.
I reinvest my income in my house
I do not use the money I earn in the neighbor to complete my income or reimburse debts, mainly because, apart from my house, I have no debt. I work in insurance and financial planning, so retirement savings are already in my wheelhouse.
That said, everyone’s situation is different. Renting your court could be a great way for others to complete their income or save for retirement.
It started as a fun project for me, and honestly, it turned out to be better than what I expected once I had the neighbor involved.
I have a property that increases in value each year, and I use the money I earn from the neighbor to improve it. I like to repair things – landscaping, adding gravel and all that.
Unless something crazy happens – like my house overtaking the price – I don’t see myself selling the property or letting the neighbor soon.
In a few years, I could withdraw and go to Arizona. If this happens, I will certainly plan to hire someone to manage the house and keep the property on the move for me.