7 Smart Ways Australian Homeowners Can Make Better Use of Unused Space

7 Smart Ways Australian Homeowners Can Make Better Use of Unused Space By: Soroosh Setodeh, Founder of NearSpace Many Australian homeowners have valuable space around their property that sits unused for much of the year. A spare garage, driveway, shed, storage area or even an unused commercial space can represent an opportunity to improve the usefulness of a property — and potentially generate additional income. With property costs continuing to put pressure on Australian households, making better use of existing space can be worth considering. Here are seven practical ideas. 1. Turn an unused garage into storage space A garage doesn't necessarily need to be used exclusively for a car. If you have a secure garage that isn't being used every day, it could potentially be suitable for storing furniture, boxes, bicycles, business equipment or other belongings. Before doing so, check your insurance, lease or strata rules and make sure the space is appropriate and secure. For homeowners, this can be a particularly interesting option because a garage can provide useful storage without requiring major renovations. 2. Consider renting out an unused driveway or parking space Parking can be difficult and expensive in many Australian suburbs, particularly around Melbourne's CBD, hospitals, universities and major transport areas. If your property has a driveway, parking bay or other suitable parking area that you don't regularly use, renting it to someone nearby could make better use of an otherwise empty space. Again, check any applicable council, strata, lease and insurance requirements before doing so. 3. Make better use of a garden shed A shed can provide valuable storage space for tools, bicycles, sporting equipment and household items. If you have more shed capacity than you need, another option may be to make part of the space available for storage. Security and access are particularly important. You should establish clear rules about what can be stored and when the renter can access the space. 4. Look at unused commercial space The same principle applies to commercial property. A business may have an office, warehouse corner, storage area or parking space that isn't being used all the time. Instead of leaving the space empty, property owners and businesses can investigate whether there is a legitimate way to make it available to another person or business. For commercial properties, it's particularly important to check the lease, permitted use, insurance and relevant regulations. 5. Think about seasonal storage Not everyone needs storage permanently. People may need additional space when: Moving house Renovating Downsizing Travelling Storing sporting equipment Keeping business inventory Looking after belongings between homes This means that unused space doesn't necessarily have to be offered on a long-term basis. Flexible storage arrangements can sometimes be useful for both property owners and renters. 6. Compare the value of your unused space Before deciding what to do with an unused area, consider what the space could realistically be worth. Factors can include: Location Size Security Accessibility Whether the space is covered Ease of access Local demand Length of rental A secure garage in an inner-city suburb, for example, may have very different rental potential from an uncovered area in a regional location. Researching comparable local listings can help you establish a realistic price. 7. Consider using a local marketplace One option for people with suitable unused space is to use a marketplace that connects property owners with people looking for storage and parking. NearSpace is an Australian marketplace designed to connect people who have unused garages, driveways, sheds, parking spaces, storage areas and other spaces with people looking for somewhere nearby. For someone with suitable unused space, creating a listing can be a simple way to test whether there is demand in their area. NearSpace allows property owners to advertise their available space and set their own conditions and pricing. Don't forget the rules Before renting out any part of your property, check the relevant requirements. Depending on the type and location of the space, you may need to consider: Strata rules Council requirements Your lease Insurance Planning restrictions Access arrangements Security Tax obligations It's also sensible to have clear written terms with anyone using the space. Final thoughts Unused property space doesn't necessarily have to remain unused. A garage, driveway, shed or commercial area can sometimes provide practical value to someone nearby while potentially creating an additional income opportunity for the property owner. The key is to understand your local market, check the relevant rules and make sure the arrangement works safely for everyone involved. For Australians interested in exploring local opportunities, NearSpace provides a marketplace for finding and listing storage, parking and other unused spaces.