So you want to make some extra money, but you aren’t sure where to start. Many of the most obvious options, like investing, require risking cash-on-hand. While these are usually the most reliable and easy bets to make some conservative gains, some people just don’t jive with the idea of risking their money. With everything going on in the market right now, it is no wonder why. So how do you make money without spending it? Well, there is one very interesting way to land some extra cash and a cool story: Rent out your home as a movie location. Movies are being made year-round, and they need unique and appealing sets to get their work done. Let’s dive into how it works.
Am I Eligible?
Typically, the only real requirement is that you own your house. Films are being made about all varieties of people and places, so it isn’t necessarily a deal-breaker if you don’t own a mansion. The reason you need to own your house is simply due to the legal liabilities involved with having someone in your home who doesn’t live there. It makes everything easier if the filmmakers have direct access to the owner to make sure they have the proper permissions, and all legal bases are covered.
How Much Will I Make?
This one varies quite a bit. Using stats by location rental company Giggster, the average homeowner earns around $2,000 per booking. However, the price you can offer changes depending on your home’s value and location. Most sites recommend that you advertise at a lower price initially to develop some awareness and interest. Make sure to do your research of similar properties in similar areas, and set your price low to compete well. Once you get things going, Giggster’s average annual income for homeowners who have hosted at least one shoot is $3,945.
What is the Initiation Process?
The first step once someone finds your Giggster posting is a booking inquiry. You’ll be told the basic outline of the shoot and the dates for which they need the home. Then, the person who finds your post and you will arrange a scount to come look at the place in person. Usually, this will be somebody leading the production who makes decisions. After the scouting, you will negotiate the booking. You’ll see their desired contract and add amendments as needed. You can verify production insurance, decide who will be monitoring the shoot for you (it can be you, but this can be very stressful), and finalize a price. Once everything is taken care of on the front-end, you and your client can prepare the home for filming. The level of your involvement varies, but this basically involves anything that makes your home easier to film in.
What Will the Shoot Be Like?
Obviously this can be a varied experience. For the most part, if everyone (including you) are well-versed on the recording contract stipulations, things should go smoothly. You’ll want to be out of the house, or at least out of the way of filming. If something happens that is not cool with you, you can speak with a senior producer and try to get things changed. If an accident takes place, it should either be covered by the production insurance or the crew who rents your place. This is something to address in negotiations. Afterward, the crew will return your home to the way they found it. This will take care of anything that may have been damaged or changed during filming.