How to earn passive income from your possessions
Sarah Silsbury was not immediately sold on the idea of renting out her clothes. The stylist and personal shopper, who describes her wardrobe as “getting out of hand”, understood the logic, she just wasn’t sure it would be worth the trouble. “I thought it might be a bit of a faff,” she tells The National . But, she says, she was wrong. “It's actually really straightforward. Once your pieces are…
Sarah Silsbury, a stylist and personal shopper, initially had doubts about renting out her clothes, considering it a hassle. However, she soon found that it was simpler than she thought. Now, her wardrobe earns passive income by renting out pieces that would otherwise just gather dust. This side hustle has helped fund her fashion obsessions.
Rental platforms in the UAE, such as endless, Best Kept Shared, and Neighbr, are making it easy for people to turn their unused belongings into a source of income. These platforms handle the logistics, allowing users to earn extra money without too much effort. The success of rental platforms depends on several factors, such as the desirability of the items, their visibility, and availability.
Listing trendy and popular clothing, actively promoting them on social media, and ensuring they are always clean and ready for quick pickup are key to generating income. However, not everything should be rented out, especially sentimental items. People should be selective about what they choose to rent out. In a densely populated city like Dubai, renting out unused possessions can help reduce the need for personal ownership, making it a more sustainable and cost-effective solution.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- How to earn passive income from your possessions thenationalnews.com
