Wanna make that spare closet earn its keep? This startup can help

Got a spare room? Here’s how to turn it into money.


August 12, 2020

You’ve got a spare bedroom, but having strangers sleep over feels… weird. No worries — you can still monetize that square footage. 

Neighbor aims to be the Airbnb of self-storage, connecting people who have STUFF with people who have SPACE. 

Homeowners might be its bread and butter, but there’s value in thinking outside the box: Neighbor just inked a deal with a major developer to transform office ghost towns into storage spaces.

The storage biz is all about the 4 D’s 

“Death, downsize, divorce and disaster” keep demand flowing in bad times, as one storage exec told The New York Times.

And what’s a bigger disaster than a pandemic? Students were kicked off campuses, and others gave up apartments to shelter in place with family.

Dumbo Moving + Storage, which has 5 facilities in New York and New Jersey, had 2.6k+ new customers in May, up 35% from last year.

So there’s plenty of space for Neighbor

Its rates tend to be ~50% lower than traditional storage facilities, which charge up to $225/month for a climate-controlled unit.

Neighbor estimates a whole basement can pull in ~$3.1.k/year. An empty closet? $384/year.

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