One of the most common questions new hosts ask us is: how much should I charge? It's a fair question — price too high and renters scroll past you, price too low and you're undervaluing your space. The good news is there's a straightforward way to think about it.
Start with size
The most important factor in pricing is square footage. As a rough guide, here's what hosts on spacenextdoor tend to charge in most Canadian markets: small spaces (25–50 sq ft) like a shed corner or part of a garage typically go for $40–$80/month; medium spaces (50–100 sq ft) like a full shed or basement room range from $75–$130/month; large spaces (100–200 sq ft) such as a single-car garage sit around $100–$180/month; and extra-large spaces like double garages or long driveways can command $150–$300/month or more depending on what's being stored.
Factor in your features
Features matter — and renters will pay more for them. Climate control, electricity access, 24/7 entry, a security camera, and drive-up access all justify a higher price point. If your space has several of these, don't be shy about pricing toward the top of your range. If it's a basic shed with no power and limited access, price accordingly.
Check what's nearby
Browse spacenextdoor listings in your neighbourhood and see what comparable spaces are going for. Not just the listed price — look at the ones with good reviews and multiple bookings. Those are the ones the market has validated. Use them as your benchmark, then adjust up or down based on your specific features and condition.
Don't undercut yourself to get the first booking
It's tempting to go low when you're starting out — but resist the urge to price well below market just to get a quick booking. You can always adjust your price, but it's harder to raise it on an existing renter. Start at a fair market rate, make sure your photos are great and your listing description is clear, and the right renter will find you.
Think about what you actually want
The best listing isn't always the highest-priced one — it's the one that attracts a renter you're happy sharing your property with, for a term that works for your life. A long-term renter who stores neatly and pays reliably every month is worth more than a revolving door of short-term bookings. Price for the relationship, not just the transaction.
Revisit your price over time
If your listing has been up for two or three weeks with no inquiries, consider dropping the price by $10–$15/month and refreshing your photos. If you get multiple inquiries in the first few days, you might be priced a touch low. Treat it like any market — test, learn, and adjust.
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