The best passive income business is rental income. If you have a vacant room, you may invite the interested party to rent the space. Ask for 3 months advance deposit to make sure the renter won't escape. Another, if you only have one car in a wide garage, better divide it and invite someone to rent a parking space. This is a sure way to always have money and income saved. What do you think, is this good for you? It is good for me.
Rental Income as a Passive Business
- Thread starter Starmix
- Start date
Yes it's a good way to make money from vacant room and if you have a vacant apartment then it'll be better because you can charge the amount you want and the passive income would be better as compared to a single room.
- Thread starter
- #4
I also like making money for vacant spaces at home. But it is also risky especially if we do not know the renters. Anyway, we can lock our doors and only the garage will be opened. There is space in our garage at home, I do try to advertise this because one cannot purchase a car without a garage.
We have vacant place but this time we don't have any tenants and we are not pushing hard as previous experience was not good and we really need to be careful about it whenever we rent our place as we are allowing a stranger to access our place.
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- #7
@Bisolami , that is true. But we can let others utilize our vacant garage space. I would like to invite people in my neighborhood at least one renter to utilize the vacant space in our garage. I can also help the person. I saw a neighbor, she parked her car at the edge of the road fronting their home. Then she already transferred to a subdivision with a wide garage.
Many people in our place use their free house or shops to earn money by renting these and it's a great way because they don't need to do anything and will earn extra income as rent and is the best passive income source.
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- #10
I plan to go to tax office if I'm going to pay tax on the income I'll earn in my garage space for rent. If I have to pay, I better do not push through my plan to invite a renter of the vacant space on our garage.
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- #12
This time it seems us paying the stores tax called VAT. It's compulsory in my country. Even in a fastfood center VAT is included. Sometimes I prefer to buy in a public market for there's no VAT. It's horrible.
Passive income from rent revenue looks very easy and you will get a stable income. You can get rent revenue from almost all goods, such as cars, property, expensive bags and shoes, luxury watches, etc. but that's all we have to have big capital to buy these goods.
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- #15
That is why, I sometimes prefer to buy fish, meat, vegetables, fruits, rice, sugar, and other important commodities in the public market. There is no inclusion of VAT and those are also clean and fresh being sold in a closed building, with no dust, and no flies. There are fans and lights.
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- #19
We need to be practical this time, why should we allow VAT inclusion in buying of few fish in a mall? Then we noticed that the total value of our goods VAT inclusive is so shocking. I shopped in SM mall and saw the total amount of 5,567 and the VAT, my goodness almost 890 pesos. After that, I told my sis to shop in the public market.
