With interest rates on the rise, many homeowners are eyeing rising mortgage repayments with some trepidation.<\/p>\n
Rawson Property says people are getting creative when it comes to generating income from their homes. \u201cIt\u2019s not just yard sales, or lodgers, or selling crocheted doilies on the internet anymore,” said Tony Clarke, MD of the property group.<\/p>\n
One of the most profitable ventures, is offering your home as a location for films and photo shoots. \u201cThe South African film industry is booming, and we\u2019re definitely on the map as a great location for international production houses of all types,\u201d said Clarke.<\/p>\n
\u201cThat means there are a lot of people looking for interesting places to use as sets or backdrops for their shoots. Your home, garden or views could be exactly what they\u2019re after.\u201d<\/p>\n
It\u2019s not only high-end luxury properties that are in demand as locations, either, Rawson stated. Everything from shabby chic cottages to barbershops, to crumbling factories and car parks could have film and photographic potential.<\/p>\n
\u201cThe most important aspects that production companies look for tend to be light, space and a unique character,\u201d said Clarke, \u201cas well as enough parking to accommodate their team, of course. If your home fits the bill, it\u2019s definitely worthwhile getting in touch with a location agent. Your property could bring in as much as R5,000 to R10,000 a day if they decide to represent you.\u201d<\/p>\n
Additional money generating ideas include:<\/p>\n
“With Airbnb, you can host guests whenever you want to,” said Clarke, “unlike a traditional B&B that generally stays open all year. You can rent a single room, a sleeper couch in your lounge, or your whole home or apartment, and set your own rates, picking and choosing guests through an online vetting process. It\u2019s all backed by Airbnb\u2019s Host Guarantee insurance as well, which means that even if things do go wrong, you\u2019ll be covered.”<\/p>\n
In Cape Town, Airbnb rates range from R200 per night for a bed in a shared room, to over R70 000 per night for an entire, top-end, luxury property.<\/p>\n
“There are plenty of home businesses that don\u2019t require any special zoning or permits,” Clarke said, \u201cbut you need to be completely sure that yours complies with any regulations if you want to avoid future trouble with your municipality or disgruntled neighbours.”<\/p>\n
Don\u2019t make this costly mistake when buying your next house<\/strong><\/a><\/p>\n The one thing you should know when buying a house in SA<\/strong><\/a><\/p>\n