Neighbor.com Review 2023: Can You Make Money?

Whether or not you’re trying to generate profits or get monetary savings, Neighbor.com may also help you out. This storage service helps individuals lease out their further house and gives cheap storage for these in search of locations to maintain gadgets they aren’t utilizing. 

Neighbor.com is a self-storage firm. Consider it because the Airbnb of self-storage. Neighbor.com connects customers with storage hosts that publicize free house of their houses, driveway, or elsewhere on their property.

Neighbor.com handles all of the monetary transactions, immediately transferring the renter’s cash into the checking account of the itemizing supplier. It makes use of Stripe to handle its cost processing.

What Sorts of Storage Can Your Lease or Lease on Neighbor?

Neighbor.com gives a method of itemizing storage areas from as small as a closet for a school scholar to as massive as a warehouse.

The commonest kinds of storage areas individuals checklist on Neighbour embrace:

Sheds
Carports
Backyards
Closets
Garages
Attics
Driveways
Basements
Spare bedrooms
Facet yards (good for RV parking)

You’ll be able to even discover warehouses, delivery containers, and parking heaps.

The Neighbor.com Buyer Journey

The host expertise is concentrated on making house, creating the itemizing, setting the value, and taking photos.

Renters search by means of the listings, which is comparatively simple. It’s as much as the renters to resolve in the event that they wish to occupy the house. Every itemizing will show the value, the placement, an outline, and pictures.

As soon as renters have made a variety, they contact the host and will trade some messages. Then they set a date and a time to maneuver their issues into the house.

As soon as a visitor has a renter, they are going to set a date and time to point out the tenant the house and put all their issues into storage. Homeowners can examine the gadgets after they are available in or afterward.

The host units the occasions when the tenant can go to the non-public storage unit.

The renter can come to test or take out the gadgets or put extra issues in storage. However do not forget that as a renter, you may solely go to the house as typically because the host authorizes and through occasions which might be handy for the house proprietor.

Funds are made every month by means of the Neighbor.com website.

Further Options and Providers

Neighbor.com companies rely upon its hosts, however sure options apply to all hosts and renters.

Insurance coverage Protection – Neighbor protects from the host’s legal responsibility of $1 million and as much as 90% of the market worth of stolen or broken gadgets for many who buy a safety plan.
Safe Funds – Auto-pay is accessible for all renters. If the lease is overdue, the host will obtain assured funds so long as the house is occupied.
First-Month Low cost – For a lot of storage advertisements on Neighbor.com, you’ll get a 50% rebate in your first month. Nevertheless, you might want to retailer for greater than a month to get this discount.

Different functionalities will fluctuate relying in your host. Here’s a checklist of companies you’ll find on Neighbor.com:

Smoke detectors
Local weather-controlled storage
Car Storage
Non-public entrances
Safety cameras
Non-smoking storage
Locked areas

The web itemizing for any cupboard space will inform you what options the house contains.

What Safety Does Neighbor Present for Hosts and Renters?

Earlier than accepting a renter, the host can test the renter’s profile and skim what they’ve and wish to retailer.

As soon as they’ve given the inexperienced gentle, the hosts can examine gadgets saved of their further house. Additionally they have as much as $1,000,000 in legal responsibility protection for Neighbour injury.

Renters assure: Neighbor.com locations a excessive precedence on renters’ security. It gives as much as $25,000 of rental insurance coverage towards theft of your property at no further value.

Refunds and Cancellations

Cancellations can happen for each events and work barely in a different way in response to the state of affairs.

For Homeowners:

In case you are the house proprietor and should cancel the reserving earlier than the renter has saved the property, the renter will obtain a full refund.
Nevertheless, chances are you’ll have to cancel after they’ve already stocked their belongings. In that case, you should give your renter at the least 30 days’ discover earlier than you’re taking their belongings away.
In the event you face a scenario the place it’s a must to give lower than 30 days advance discover, you can be charged for the inconvenience, and the final month’s charge can be refunded.

In distinction, right here’s how cancellations work if you happen to’re a renter:

In the event you cancel 4 days earlier than the beginning date or inside 24 hours of your reserving approval, you’ll obtain a 100% refund.
In the event you cancel inside three days of the beginning date, you’ll obtain a reimbursement of 80%, however gained’t get your service costs again.
Lastly, if you happen to cancel after the beginning date, you’ll not obtain a refund and pays the total month’s charge.

Prohibited Storage Objects

? The cupboard space proprietor can examine the whole lot the consumer shops and refuse any supply. There may be additionally an inventory of restricted gadgets for everyone, together with:

Firearms
Fireworks
Hazardous Chemical compounds
Rubbish
Animals
Toxins
Medication
Explosives
Pesticides
Rubbish
Munitions
Perishables.

☝️ Hosts are permitted to examine the gadgets to be saved to guarantee that no prohibited gadgets are amongst them.

Neighbor.com Value

Costs will fluctuate relying on the placement, dimension, and what your host decides to cost for the house.

Primarily based on Neighbor.com’s knowledge, renting cupboard space by means of their website cupboard space prices round $160 per thirty days on common. As well as, there’s a 15% month-to-month service cost. It’s roughly $20 lower than the business common.

At roughly $30 lower than the business common, you will get a deal much like what you’ll do with conventional self-storage leaders like ExtraSpace and CubeSmart.

Easy methods to Earn Cash On Neighbor

You generate profits by itemizing your house and making it interesting to tenants. Listed here are a few ideas to assist:

Share the itemizing with mates, household, and social media contacts to spice up the variety of potential renters.
Your description must be dependable, informative, and instructive.
Use nice high quality images and attempt to present a clear and spacious inside and the accessibility of the house.
Try to be pleasant and accessible and have a schedule that permits you to accommodate renters.
Enhance your rating on the positioning by writing a well-thought-out private biography that encourages individuals to belief you.

An interesting profile is important to attracting renters, as is charging an affordable worth for the house.

How A lot Can Hosts Earn on Neighbor.com?

Neighbor.com pays its hosts month-to-month for every month for storage models. Relying on the scale of your house, your location, and different elements, hosts can earn between $50 and $600 a month. Neighbor sends the cost by direct deposit by means of a cost platform that complies with PCI requirements.

Neighbor Host Charges

There isn’t a upfront service cost for itemizing. Nevertheless, there’s a charge for processing the cost for every reserving location. The service cost is 4.9% of the rental worth plus $0.30 per thirty days. This covers the price of the cost course of, utilizing the web site, direct deposits, and safety.

Execs & Cons of Neighbor.com

Neighbor.com Alternate options

Listed here are some comparable companies:

Stashbee – Stashbee gives short-term parking, which Neighbour doesn’t. This product permits hosts to obtain extra reservations and revenue extra over time. Renters can discover a parking spot for the time they want, from a couple of minutes to a yr or extra.
Litter – This storage firm manages the pickup, storage, and removing of saved gadgets. It shops the products of shoppers in huge warehouses exterior metropolis facilities. Purchasers can handle their storage remotely by visiting the digital catalog to overview gadgets and schedule deliveries. 
Spaceways – For these of you within the UK, SpaceWays affords on-demand storage that doesn’t require purchasers to move gadgets from one warehouse to a different.

Buyer Opinions

Neighbor.com is rated 3.13 out of 5 by reviewers on the Higher Enterprise Bureau (BBB) website. There are solely 15 opinions, so that you’ll should remember that the pattern dimension is small.

There are additionally 24 complaints within the final three years. The Firm has replied to all of them and most seem to have passable resolutions.

Constructive opinions say the system is easy and efficient.

Complaints are likely to deal with communication, cost, and refund points.

Neighbor will get 3.3 of 5 stars from 330 opinions on Trustpilot. 52% of the opinions are 5-star, and 33% are 1-star, indicating pretty polarized experiences.

The primary takeaway from the opinions is that when issues work properly – and so they typically do – the service could be very passable for all involved. When issues go incorrect there could also be points that the Firm generally has issues resolving.

Verdict

Neighbor.com gives a option to generate profits from house that you simply’re not utilizing. It additionally gives entry to cupboard space for lower than you’d pay a storage firm.

The primary disadvantage, for each renters and tenants, is that you simply’re coping with people, and so they is probably not as dependable as you’d like them to be.

If that danger is one thing you don’t wish to take, Neighbor.com is probably not one thing you wish to pursue. In the event you’re keen to take the prospect, you may discover it a really engaging proposition.