The sharing economy makes it possible for anyone who has something of value to make money by lending it to someone who doesn’t have access, but who is willing to pay a fee. Uber is perhaps the most prominent example, where people who have a car can make some extra money by giving lifts to people. Another example is air BNB, which allows people who want to rent out a room in their home or apartment to those who need a place to stay.
If you’re thinking about becoming a side hustle innkeeper, though, you might want to invest in a smart lock.
A smart lock is a way for you to make your home more open to those who are renting from you (or really, just coming to visit) by using the latest technology. Instead of a traditional lock, which uses a key, a smart lock is entirely electronic. What’s even more important, though, is that a smart lock can be activated remotely. So you don’t even have to be home to let people into your place. If you have a security camera, you can log in on your smartphone, see who’s at your door, and open the lock for them. It’s even possible to set up the lock in such a way that you get a notification when someone rings your bell. Just in case you never want to miss an appointment.
While a smart lock might sound like something out of a James Bond movie (particularly one of the older ones replete with ridiculous gadgets), it’s actually fairly common as far as a home security device goes. Since smart home technology has been on the market fr some time now, the bugs have been worked out, and the prices have come down. So there’s no worry about an investment in security outweighing the money you’re making from your side hustle in renting out your couch, or spare room.
Security, and Convenience, in One Device
A smart lock makes your life a great deal easier if you’re planning on renting to a steady stream of people looking for a place to crash. You don’t have to worry about being home, since you can unlock your doors remotely, but you also don’t have to worry about getting new locks, or your keys going missing. All you have to do is change your password every time someone comes to stay, and you’re golden.
That might be a pain, but it’s a lot easier (not to mention cheaper) than having your locks changed every few weeks.
It’s also important to remember that smart locks aren’t just for your front door. You can put these locks anywhere in your home that you need them, and tie them all together in a single, easy-to-use security system. So if your weekend client shows up while you’re at work, you can open the door with a simple touch of your screen. You can also make sure your bedroom is locked up tight, which will give you some peace of mind regarding your valuables. You can monitor your guest’s comings and goings, and check in on your place even if you’re on the other side of town… or on the other side of the world.
If you’re serious about making money by renting out your extra space when you don’t need it, you should make certain you have an ace in the hole regarding your security. Because you should trust your guests, but you should also verify that they’re treating your place the same way you would treat it.