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Turn empty space into regular cash
EMPTY space in a cellar, garage or barn can be turned into a regular income with businesses offering to help owners rent storage space to people who need it.
Three firms – Costockage, Jestocke and Ouistock – act as middlemen in an online transaction putting available space up for grabs. Between them, they offer as much space as traditional warehouses.
Their big plus is prices a third to half less than warehousing and the sites can vary from a spare room or chambre de bonne, to a stable, a wine cave, a garden shed and even a former prison with lockable cells.
As owners and renters generally live near each other there is also an improved social link.
Prices vary: Costockage has 1m3 of space in Paris at €120/month, Jestocke’s 1m3 costs from €9/month and Ouistock is from €7/month. Ouistock says owners make, on average, €120 a month or €1,400 a year.
Industry wide, on average sites measuring 8m3 at €60/month are rented for five months.
Younger people aged 25-40 need extra space while older people need money... owners’ average age is from 45-65.
Property owners could take in enough each year to pay off taxe d’habitation or to pay for a holiday while renters can use cheaper storage space.
Each company takes 20% of the rental in frais de service and this includes the online publicity and insurance on the goods.
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Owners offer their space at a price they wish (sites will say if the rent is out of line with the market), and after it has been put on social media/billboards they choose the best tenant, with the site organising a contract and monthly rent online.
