Got Space? Startup Cashes In On Storage Shortage

Chad Brooks, BusinessNewsDaily Contributor

Homeowners now have a chance to make a little extra cash by putting their houses, attics and basements to work for them.

The newly launched RovingBox service matches local homeowners who have unused storage space in their garages, attics or basements with people who need storage space for their personal items. Users can also offer and rent parking space.

Zachary Price, co-founder of RovingBox, said the company's service upends traditional self-storage business models by creating a marketplace where people can list and rent unused space. He said it is designed for those who find traditional self-storage options too inflexible and expensive.

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"RovingBox provides a great way for homeowners to earn passive income by simply renting out a corner of their garage to people who need storage space for their stuff," Price said. "For the homeowner, it makes good financial sense, and renters benefit by having a storage space that is often more affordable and flexible than they'd otherwise get by signing a lease on a traditional storage unit."

To use the service, homeowners create a listing on that includes photos and a description of the space for rent, plus what their "House Rules" are, such as what a renter is able to store and when renters can access their items.

Those needing storage or parking can search the RovingBox for options in their area and then request a booking. The space's owner can then review the request and discuss all details and concerns with the renter before confirming the deal. Once the homeowner accepts the offer and the renter moves the items into the space, RovingBox charges the renter's credit card and deposits the payments into the homeowner's banking or PayPal account.

In order to establish security and maintain trust between renters and homeowners, offers a public rating system where customers can give feedback on their experience, a messaging system that enables people to chat and get to know each other before confirming a space rental and a three-day day refund guarantee. This gives both parties the chance to terminate the contract if they don't feel comfortable.

"With the rise of the new 'sharing economy,' we saw that the self-storage industry could use a makeover," Price said. "We are excited to help homeowners earn extra income, while providing renters with inexpensive and environmentally friendly storage options in their neighborhood."

This story was provided by BusinessNewsDaily, a sister site to LiveScience. Originally on BusinessNewsDaily .

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