CHICAGO - Looking for ways to make extra cash with what you already own? It’s now possible with a new Chicago-based website.
It’s like the Airbnb of spaces, allowing you to rent out your pool, basement or patio by the hour.
Yanira Doyle has used the website, NockNock, to rent out her basement turned bar and lounge.
"I follow a financial model that says don't buy any liabilities, only buy assets. So everything I buy, I try to find out a way to monetize it in one way or another," she said. "Baby showers, parties, wedding receptions. I had a group reach out to me to film a bar scene here."
She rents the space for $75 an hour.
"It's a way that you can make quite a significant amount of money. In fact, we have a calculator on our website," said NockNock founder Charles Ferguson, who also happens to be an Oscar-award winning documentarian.
His movie career did not help him with the idea, but his desire to find a safe place for his belongings while going for a run, did.
On the site, that only features Chicago properties, you’ll find a home office, rooftop deck, recording studio and garage, all for rent.
And that’s just the tip of the iceberg.
"You don't have to worry about leaving your home long term. You can leave your home for the day and come back and have someone pay for your space and be able to make money off of it," said South Loop resident Stephanie Humphrey, who rents out her entire condo.
Her friend Denise Osborne manages the bookings.
"We wanted to price it competitively especially just starting out. The price is $75 an hour, and it's actually a good price I believe for the area," said Osborne.
"People are going to think about their own space, their own home very differently because they are going to realize that in order to have access to a very good home theater or very good home gym, they don't have to own it themselves," said Ferguson.
NockNock is currently seeking more Chicago spaces to rent. They just launched an app and are giving users $50 off their first booking.