Neighbor

Is Neighbor worth it for hosts?

Neighbor lets you rent out a garage, driveway, lot or other spare space to people who need storage or parking, and keeps a 4.9% + $0.30 processing fee from each monthly payout. Neighbor says it has listings in all 50 states, and it names no state where hosts can't list.

Neighbor host fees

Neighbor's processing fee comes out of your payout, and the help center says it pays for automated billing, Payout Protection and the Host Guarantee. The price renters see also includes a service fee, and Neighbor doesn't publish that rate.

The calculator below starts from an example payout, not a Neighbor figure, to show how much a monthly payout shrinks after the fee.

How and when Neighbor pays you

Neighbor says it charges the renter's card on the first day of each rental period and sends your payout at the end of it, through Stripe, so the first money from a new booking arrives only after its first rental period ends. Neighbor says Stripe, not Neighbor, stores your bank details.

How to become a Neighbor host

Neighbor's host page describes the path as listing your space, approving the renter requests you want, then scheduling a move-in and getting paid. Neighbor says phone photos are enough for a listing. Before you publish it, you confirm your email and phone number and verify a government photo ID through Persona, which Neighbor says means it doesn't store your identifying information. You then connect a bank account through Stripe and answer each booking request yourself.

Neighbor host protection and insurance

Neighbor's terms call its liability cover the Host Guarantee and say it applies only to hosts in the U.S. It pays losses above $1,000, up to $1,000,000 over your lifetime as a host. Covered losses must happen during a booking and relate to the stored items, and the terms exclude damage you cause through your own negligence, acts of God such as floods and storms, and losses that stem from your own breach of the terms. Damage to the renter's belongings falls outside it: Neighbor's help center says renters, not hosts, choose from its Property Protection Plans to cover their items.

How to earn more on Neighbor

Neighbor says its Smart Pricing tool suggests a price, lets you set a minimum, and adjusts your listing price with seasonal and market demand. It also points hosts to its performance dashboard for missed opportunities, says it brings visibility to hosts' reviews, and offers Neighbor Blueprint to help owners of large open lots map out their space for renters.

Can Neighbor deactivate your account?

Neighbor's terms, last updated Aug 1, 2024, say it may suspend or terminate accounts without cause or notice. Taking a renter's payment outside Neighbor is the costliest mistake: the terms let Neighbor cancel the account and charge both sides a sum equal to 24 months of the booking's fees. Ending a booking early without the notice the terms require can cost you that month's payout plus a termination fee, and hosts who cancel repeatedly can be removed.

Is Neighbor legit?

Neighbor Storage, Inc. runs the platform from Lehi, Utah. Press reports describe two funding rounds. Inside Self Storage reported a $10 million Series A led by Andreessen Horowitz. Utah Business reported a $53 million Series B on March 24, 2021, led by Fifth Wall, with returning investors Andreessen Horowitz, Pelion Ventures and Album Ventures.

Scams that use the Neighbor name

For tests you can apply to any offer, see how to spot side-hustle scams.

Taxes on Neighbor income

Neighbor's help center says hosts below the federal 1099-K threshold may not get the form and can find their payout history in the Stripe dashboard. It notes that some states require the form at lower thresholds and refers hosts to a tax professional. For how side income is taxed, see taxes on side income.

Neighbor vs other space-sharing platforms

Hipcamp, Furnished Finder and Airbnb cover the uses Neighbor rules out, such as camping, furnished rentals and short stays.