Local company helps people pay the bills through 'space sharing'

Detached garage
Posted at 5:00 PM, May 20, 2021
and last updated 2021-05-20 19:50:54-04

NASHVILLE, Tenn. (WTVF) — Sharing space at home is allowing people to make ends meet as we rebound from the COVID-19 pandemic.

According to hairstylist Chanel Asceline, when business slowed during the pandemic, she rented out her detached garage to help pay the bills.

Technically, it's considered space-sharing through Stache Storage. Asceline said she was matched with a small business owner who needed a place to store equipment.

"With covid people have not been able to maintain their jobs, and he has lost his place of business, and I was able to provide him a detached garage that worked out just as well, for a fraction of the cost," Asceline said.

Asceline said it's a win-win. "So I’m making about $650 a month and so roughly $8,000 a year."

Company co-founder Michael Anderson said the business was started as a college student storage solution where people could share a closet or basement. Anderson said, "We built this peer-to-peer storage company. I thought I was going to be a doctor in Nashville where I was going to be going to med school and was kinda freaking out over grad school debt... saw this opportunity."

The business exploded, so now he does it full time. "We’re filling a really cool gap here," Anderson said.

Currently, detached garages are in high demand. "It’s a really nice asset class for someone like that,” Anderson said. “That’s too big to work from home, or lives further out of town and needs to be kinda closer in, but they don’t want to sign a commercial lease, and be stuck with a really heavy obligation on that."

He said it's more affordable than other storage options. "People want something that’s more accessible," Anderson said.

Contracts are for 28 days at a time. Stache has expanded to multiple states and is based in Nashville. They're looking for more hosts due to demand. Click here to learn more about the service or to become a host.

"I’m helping a community member, and he’s helping me," said Asceline.