Have you ever heard about Neighbor? I’m not talking about the people around you.
Neighbor is a platform that allows you to make extra money renting your space. If you’re looking for extra money, consider using the Neighbor.
You can rent extra space in your garage, driveway, bedroom, parking lot, basement, shed, warehouse, closet, and more. In exchange, you’ll make money from the renters. Are you interested? Then you might want to learn about the Neighbor.
It’s hard for someone like you who never used Neighbor before to understand how it works. For that reason, I’m writing this Neighbor review. In this article, I’ll explain what Neighbor is, how it works, who should use it, and whether it’s worth your time.
So, let’s dive into the Neighbor review!
What is Neighbor?
Neighbor is a platform that connects people who need storage with people who rent extra spaces. You can consider it as an Airbnb for storage. According to Neighbor, it’s the cheaper, closer, and safer storage marketplace.
The Neighbor works like a mediator between the host and renters. For example, if someone looking for a parking lot, the Neighbor will connect him/her with someone renting extra space nearby.
Neighbor offers many storage facilities, such as:
- Self Storage
- Car Storage
- RV Storage
- Boat Storage
- Trailer Storage
- Business Inventory
- Fleet Parking
As a host, you can rent extra spaces in your garage, bedroom, warehouse, and more. In exchange, you’ll be allowed to charge as much money as you want. However, you should charge a decent amount.
Therefore, Neighbor makes it easier and affordable for someone who needs storage. On the other hand, Neighbor allows people to turn their extra spaces into extra cash.
Is Neighbor Legit?
Yes, Neighbor is a legit platform that has been around since 2017. It was created and owned by Neighbor Storage, Inc. Since then, it has been popular among renters and hosts.
Neighbor has been featured in many well-known publications, such as Bloomberg, Wall Street Journal, Forbes, Today, U.S.News, TechCrunch, Business Insider, AXIOS, and The Penny Hoarder. Also, it has won multiple awards.
Neighbor offers a host liability protection worth up to $1 million. Moreover, you will get a refund as a renter if there is an issue. Also, Neighbor has good customer support.
Renters and hosts both like Neighbor. It has a 5-star rating based on over 22k reviews on its platform. Also, Neighbor has 4.7 ratings on the App Store and 4.5 ratings on the Google Play Store.
Therefore, we could say Neighbor is a legit platform.
Who Can Become a Host?
Currently, Neighbor operates in the United States. If you’re living in any of the 50 states, you can become a host at Neighbor. Moreover, you must be 18 years old to become a host.
Neighbor is popular in Los Angeles, Salt Lake, Miami, San Francisco, Tampa, Phoenix, Denver, Atlanta, Houston, Jacksonville, New York, Dallas, San Diego, Las Vegas, Chicago, San Antonio, Charlotte, Detroit, Louisville, and Austin.
Neighbor welcomes everybody living in the United States to become a host as long as you’ve unused space to rent. Even if Neighbor is not famous in your area, you should become a host. You never know who might need storage.
How To Become a Host?
To become a host at Neighbor, you must fulfill two conditions. You must be living in the United States and 18 years or above.
The signing process is pretty straightforward. You can create an account using your email address, Gmail, Facebook, or phone number. I would suggest using either Gmail or Facebook account.
After creating an account, follow the below steps to become a host.
- Set Up Profile: It’s the first step to host at Neighbor. You must set up your profile with a profile picture and a well-written bio. It’ll help renters to know you and feel confident to store their items in your storage. For that reason, you should write a detailed bio where you explain why you joined Neighbor.
- Connect Your Payment Method: Neighbor uses a third-party payment gateway named “Stripe.” You have to connect your bank account using Stripe. It’s a secure payment gateway used by hundreds of thousands of vendors worldwide, including Amazon and Facebook. The Neighbor doesn’t store any of your payment information.
- Create Your First Listing: As soon as you set up your profile, you’ll be able to list your unused space on Neighbor. You don’t have to pay a listing fee. While listing your unused space, they’ll ask you some questions like can your space store a vehicle, which best describes your space, etc. Also, you’ll have to write a detailed description and add high-quality photos. Moreover, you can set your price. Your listing will go through a manual review process to see whether your space meets its listing quality standards. Once your listing passes the review process, it’ll be published on Neighbor. The listing quality standards are:
- The rental space must be owned by the host or the host must have legal permission to rent out the space.
- Listing photos, descriptions, details, and features need to be consistent and match the actual space.
- The listing must have multiple high-quality, relevant photos of the space.
- Share Your Listing: After getting approval, you should share your listing on social media platforms like Facebook, Twitter, and Instagram. It’ll help you to get renters quickly.
- Respond To Renters: You’ll receive an email and a text when a potential renter sends a reservation request. If you use the Neighbor app, you’ll get push notifications. You’ll have 24 hours to accept or decline the request. You can view what your potential renter wants to store and for how long. How do you approve a request? You can respond to the text message you receive with an “A” or click “Approve” in the email or on their platform.
- Get Paid: Once you approve the reservation request, the renter is charged for the first rental month. All Neighbor reservations are month-to-month. At the end of each rental period, your earnings will be sent to your connected bank account. It’ll take between 3-5 business days. Neighbor charges a 4.9% commission plus a $0.30 processing fee from each payout.
How Neighbor’s Referral Program Works?
Neighbor has a referral program that allows hosts to maximize earnings. You can invite your friends and family members to list their unused space on Neighbor. Both parties will receive a $50 Amazon gift card when an invitation is fulfilled and verified.
To fulfill an invitation, the recipient must:
- Create a Neighbor account as a host.
- Publish at least one listing.
- Fill that listing with a Qualified Reservation.
- Earn $100 in Payouts from a Qualified Reservation.
After the verification process, electronic Amazon gift cards will be sent to the email addresses connected to the Neighbor accounts of both the Referrer and Recipient. The verification process occurs once the referral recipient has a qualified reservation for at least one month.
There’s no limit on how many referrals you can make. You can invite as many people as you want.
How Much Can You Earn on Neighbor as a Host?
As a host, you’re allowed to set prices for your unused spaces. However, your pricing should be competitive. You should set your price based on several factors, such as:
- The type of storage space you’re offering.
- The dimension of your space.
- The condition of your space.
- The city you’re living in.
- The security of your location.
You must consider these factors before setting your price. Here are a few examples of listings:
- 9’×2′ Parking lot in Virginia renting for $120/mo
- 8’×10′ Closet in Virginia renting for $81/mo
- 20’×12′ Garage in Maryland renting for $150/mo
- 18’×10′ Driveway in Maryland renting for $93/mo
- 20’×20′ Bedroom in Jersey City renting for $400/mo
- 40’×20′ Unpaved lot in North Carolina renting for $95/mo
These are just a few examples. You can earn thousands of dollars If you’re living in cities like Miami, Tampa, Phoenix, and Las Vegas. Because you’ll get many renters. No matter what you charge for your unused space, your earnings will depend on the number of renters you get.
Is it safe to host on Neighbor?
You may be thinking about whether it’s safe to host on Neighbor. The answer is yes. Neighbor offers a $1 million host guarantee that protects hosts from specific liability claims made by third parties and renters using the Neighbor platform. Moreover, Neighbor uses Stripe as a very secure payment gateway.
Do I need a permit or license to host on Neighbor?
It depends on your local laws and regulations. However, the host must either own the space they are listing or otherwise have legal permission from the owner to rent the space. If there is any law that restricts renting spaces, you should abide by it.
Can you deactivate your listing on Neighbor?
Yes, you’ll be able to deactivate your listing on Neighbor. Once you deactivate your listing, it won’t be visible to potential renters. You can reactivate your listing later on.
Do I have to pay the listing fee on Neighbor?
Neighbor welcomes hosts to list their unused space for free. However, they charge a 4.9% + $0.30 processing fee from each monthly rental payout.
Neighbor is a platform that allows people to monetize their unused space. If you have an unused space in your garage or parking lot, you should consider listing it on Neighbor.
It’ll take a few minutes to become a Neighbor host. Moreover, there’s no listing fee involved. Therefore, it’s free to monetize your unused space with Neighbor.
Neighbor offers many safety guarantees that keep your property protected. Therefore, try Neighbor to turn your unused space into extra cash.
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