You can earn passive income by renting out personal assets like your car or a spare room.

If you have a car sitting in your driveway or an extra bedroom, you can let other people use them for a fee. Services like Turo and Getaround let you rent your vehicle to tourists or locals. Some hosts make thousands of dollars a year doing this. You can also list spare rooms on sites like Airbnb. It is a simple way to make your expensive belongings pay for themselves.