Spacer Review: Book or Rent Out Storage Space

Spacer allows you to rent out storage space for your furniture, car, office equipment or even larger items. You can also make extra cash renting out your own extra space. Let’s take a look at the details in my full review..

Verdict: Spacer has heaps of options for those who need storage, and it’s an awesome opportunity to make extra cash for those who have extra space!

Introduction

Do you own a vacant warehouse, garage, shed, driveway, or yard? Do you want to put them to good use and earn a bit of extra cash? There is an Australian online one-stop shop for storage called Spacer, where you can easily rent out your parking space or storage spaces without hassle, and make some extra money as a side hustle for a bit of passive income.

You can also rent out storage space if you’re going through a move, a renovation, or you need it to store larger items. Spacer offers reasonable rates and a money-back guarantee.

So, exactly how does it work, what locations can use Spacer, what are the rates, advantages and disadvantages of using Spacer, and is it really worth it? Read on..

CaptainFI is not a Financial Advisor and the information below is factual review information, not financial advice. This website is reader-supported, which means we may be paid by advertising on the site, or when you visit links to partner or featured sites. For more information please read my Privacy Policy, Terms of Use, and Financial Disclaimer.

What is Spacer?

Spacer is an Australian online platform where you can lease parking and storage spaces at a reasonable cost. You can also rent out your own storage spaces to make extra money. The idea is similar to how platforms like Airbnb connect travelers with homeowners who have a room or house to rent out, but instead of accommodations, Spacer deals with storage spaces. The founders of Spacer were Mike Rosenbaum and Roland Tam, who started Spacer in 2016.

Spacer offers over 30,000 rental sites with different locations throughout Australia. It has successfully attracted over 60,000 Australians due to its simple rental services and economical leasing rates. What sets Spacer apart is its emphasis on customer satisfaction, and they certainly have plenty of positive customer reviews online to prove it.

“Spacer’s goal is to help our community make use of their extra space. We’re trying to solve the growing need for storage and parking, without constructing anything new and decreasing the limited public space we have left.”

spacer.com.au

Where is Spacer based?

Spacer Technologies has a head office located in Pyrmont, NSW and there are also physical offices in Delaware and Manila. There are staff working remotely in 10 cities around the world, and there are Spacer storage locations all around Australia.

Who uses Spacer?

Spacer storage rental services can benefit almost anyone:

• Businesses and companies looking for a storage facility to secure their goods
• Australian residents planning a move, moving house or renovating
• Aussies who are planning to travel can store their car or other items, short or long term
• Boat and caravan owners who lack the space to store them
• Those wanting to rent out land or lease their own land
• Anyone wanting to make extra money by renting out their own storage spaces
• Anyone who lacks storage space at home or at work

“My experience with Spacer renting my parking bay was truly seamless. From Spacer advising me of an interested renter, to meeting the renter on-site and confirmation of payment details took only several hours. The renter seemed delighted with the parking space and moved in quickly.”

Cyril, Spacer Host, Randwick, NSW – spacer.com.au

How does Spacer work?

For those wanting to rent out their storage space?

1. Listing Your Space: If you have unused storage space like a garage, attic, spare room, parking space, or even a backyard, you can list it on Spacer for free. You’ll need to provide a description, measurements, and photos of the space. This helps potential renters get an idea of what you’re offering.
2. Setting Your Price: As the host, you can set your own rental price. To help you decide, Spacer might provide suggestions based on similar spaces in your area. Remember to consider the type, size, and location of your space, as well as any additional features (like security or climate control) when pricing.
3. Receiving Enquiries & Bookings: Once your listing is live, renters can inquire about your space. You’ll receive these enquiries in your Spacer dashboard or directly via email. You can then communicate with the potential renters to answer any questions they might have.
4. Booking Confirmation: When a renter decides to book your space, the booking is confirmed through Spacer. The platform handles the payment process, so you don’t have to deal directly with money exchanges.
5. Payments: Once a booking starts, Spacer will handle the monthly payments. The funds will be transferred to your nominated bank account, typically after a small service fee is deducted by Spacer.
6. Security: For peace of mind, Spacer usually offers insurance options to protect both hosts and renters. It’s a good idea to check the terms and conditions and understand the coverage.
7. End of Rental Period: When the renter no longer needs the space, they’ll move their items out, and you can choose to list your space again for another renter.

For renters who need storage?

1. Search: You can browse available spaces on Spacer based on your location and requirements.
2. Choose & Enquire: Once you find a space that meets your needs, you can inquire about its availability, asking any questions you might have.
3. Booking: When you’re ready, book the space through Spacer. You’ll pay through the platform, which provides an added layer of security for both parties.
4. Move-In: After booking, coordinate with the host for the move-in process.
5. Payments: Monthly payments for the space will be automatically deducted by Spacer from your nominated account.
6. End of Rental Period: When you no longer need the storage, inform the host, move your items out, and your monthly payments will cease.

Always ensure you read Spacer’s terms and conditions, as well as any guidelines they provide, to ensure a smooth and satisfactory experience for both parties.

What kinds of storage can you rent on Spacer?

You can rent or rent out:

• Car spaces, driveways and garages – you can also check out my review of Parkhound which is a dedicated website for renting out car spots
• Storage sheds and storage cages
• Sheds and barns
• Spare rooms, attics and basements
• Commercial storage spaces
• Backyards. outdoor spaces and land

 In what locations can you use Spacer?

Spacer storage and parking spaces are available in over 30,000 locations nationwide. You can select any location or storage spot that suits your convenience and intended purpose, no matter where you are in Australia, although it may be difficult to find storage space in certain locations, such as rural or remote areas, depending on what you require. Storage will be much easier to find in major capital cities and their surrounds.

Once you’ve parked or stored your belongings in these spaces, your possessions are under guarantee by Spacer.

How much does it cost to rent space through Spacer?

The cost of renting space through Spacer can vary widely based on several factors:

1. Type of Space: Different types of spaces have different rates. For example, a small locker space will generally be cheaper than a full garage or a commercial storage unit.
2. Location: Just like real estate, location plays a big role in pricing. Spaces in urban or high-demand areas are likely to cost more than those in suburban or rural areas.
3. Size: The larger the space, the more it generally costs.
4. Features & Amenities: Spaces with added features, such as climate control, 24/7 access, or heightened security, might command higher prices.
5. Duration: Some hosts might offer discounts for longer-term rentals.
6. Demand: If there’s a high demand for storage spaces in a particular area and limited supply, prices might be higher. For example, a car space or parking lot in a CBD area.

To get specific prices for your storage needs, it’s best to visit the Spacer website and search for spaces in your desired area. This will give you a range of prices based on current listings, allowing you to gauge the average cost for the type of space you’re seeking.

Remember, Spacer might charge a service fee, which is usually included in the prices you see on the platform. Always read the terms and conditions and any additional fees that might apply before making a booking.

For those renting out their space:

The biggest perk of renting your space through Spacer is that you receive the full price for the leased area as the rental payment you originally planned, without any deductions.

While listing is completely free, Spacer earns revenue by taking a commission or service fee from the rental income once a booking is made and payment is received from the renter. This fee covers the services Spacer provides, such as marketing the space, handling the booking process, facilitating payments, and providing support.

The exact percentage or amount of this fee might vary and could change over time though.

Advantages of using Spacer 

Advantages of using Spacer:

• 30,000 available locations Australia-wide to choose from, with a wide variety of storage options
• Transparent Reviews: Users can leave and read reviews, which helps in making informed decisions based on past experiences of others. Positive reviews on websites like Trustpilot also demonstrate authenticity. Very few negative reviews.
• Great opportunity to generate passive income from your available space, as a form of house hacking, without paying registration fees
• Guidance at every step of the reservation process
• Stored possessions are covered by the Spacer guarantee, assuring renters that their possessions are in safe hands
• Flexibility: Hosts can decide when their space is available and set their own prices.
• Secure Payments: Spacer handles the payment process, ensuring timely and secure transactions between hosts and renters.
• User-Friendly: The platform is easy to navigate, both for listing a space and for finding one to rent
• Communication Tools: Spacer provides tools for hosts and renters to communicate directly, ensuring clarity in arrangements.
• Cost-Effective: For many renters, using Spacer can be more affordable than traditional storage solutions. Paying for storage for your business may also be tax deductible. Make sure you do your own research based on your own business. For hosts, the platform provides a way to monetize otherwise wasted space with minimal effort.
• Spacer offers customer support to assist both hosts and renters with any issues or questions they might have

Disadvantages of using Spacer

Spacer may have the following drawbacks:

• Some customers have raised complaints about refunding issues.
• The unavailability of the Spacer mobile app is a significant drawback. The Spacer team should consider launching a mobile app to make their services more accessible to Australians on the go.
• Risk of damage to the storage space or stored items, even with precautions and guidelines.
• Service Fees: Spacer takes a commission or service fee from the rental income, reducing the total earnings for hosts.
• Limited Control: Once a space is rented out, hosts may have limited control over how the renter uses it (within the agreed-upon terms).
• Misunderstandings or disagreements over the rental agreement can arise, potentially leading to conflicts.
• If a host needs their space back suddenly, they might have to wait until the rental period ends or navigate early termination, which could be inconvenient.
• Maintenance: Hosting might require regular maintenance and cleaning of the space, leading to added chores for the host.
• Insurance Limitations: While Spacer might offer insurance options, there could be limitations, exclusions, or deductibles that may not fully cover certain damages or losses.

Is using Spacer worth it??

There’s no denying that Spacer has effectively addressed storage issues at an economical cost for Aussies.

Using Spacer offers a unique blend of advantages and challenges. On the pros side, it provides an opportunity for hosts to earn extra income from unused spaces, gives renters a variety of local and cost-effective storage options, and streamlines the transaction process with secure payments and communication tools.

The platform’s focus on community-driven storage solutions offers a flexible alternative to traditional storage facilities. However, potential cons include trust issues, possible inconsistent income for hosts, and the inherent risk of damage or misuse of spaces. Check this article on Netstrata about renting out your garage or storage space.

Weighing these factors, using Spacer can be well worth it for many people. For hosts, it transforms dormant assets into profitable spaces, and for renters, it offers affordable and diverse storage solutions. As with any peer-to-peer service, clear communication, setting expectations, and adhering to platform guidelines can mitigate most of the mentioned disadvantages.

The appeal of Spacer is rooted in its ability to bridge local storage needs with available spaces, making urban living more efficient and community-oriented. Given its benefits, for many, Spacer proves to be a valuable platform.

Conclusion

In conclusion, Spacer emerges as an innovative platform, addressing the urban challenge of optimizing underutilized spaces. By connecting individuals in need of storage with those offering vacant spaces, it not only offers an economical solution for renters but also an income opportunity for hosts, whether they have unused parking space, a spare room or a shed.

While there are inherent risks, the platform’s features, combined with due diligence by its users, largely mitigate these concerns. With its commitment to security, community, and flexibility, Spacer is reshaping the landscape of storage solutions and proving that, in today’s shared economy, even unused corners of our homes can have significant value.

Have you ever leased your private space through Spacer? How was the experience? Feel free to share your story here in the comments.

Financial Disclaimer

Financial Disclaimer: CaptainFI is NOT a financial advisor and does not hold an AFSL. This is not financial Advice!

I am not a financial adviser and I do not hold an Australian Financial Services Licence (AFSL). In this article, I am giving you factual, balanced information without judgment or bias, to the best of my ability. I am not giving you any general or personal financial advice about what you should do with your investments. Just because I do something with my money (or use a particular service or platform) doesn’t mean it is automatically appropriate for your personal circumstances. I do not recommend nor endorse any financial or investment product, and my usage or opinion of any product should not be interpreted as an endorsement, advertisement, or intent to influence.

I can only provide factual information based on my journey to Financial Independence, and that is provided for general informational and entertainment purposes only. I make no guarantee about the performance of any product, and although I strive to keep the information accurate and updated as it changes, I make no guarantee about the correctness of reviews or information posted.

Remember – you always need to do your own independent research and due diligence before making any transaction. This includes reading and analysing Product Disclosure Statements, Terms and Conditions, Service Arrangement and Fee Structures. It is always smart to compare products and discuss them, but ultimately you need to take responsibility for your use of any particular product and make sure it suits your personal circumstances. If you need help and would like to obtain personal financial advice about which investment options or platforms may be right for you, please talk to a licensed financial adviser or AFSL holder – you can take the first steps to find a financial advisor by reading this interview, or by visiting the ASIC financial adviser register and searching in your area.

For more information please read my Privacy Policy, Terms of Use, and Financial Disclaimer.