Back in the golden era of Hollywood, our favorite TV shows and movies were all filmed in studios on a set or a stage. That may have been the case years ago. However, as movie producers sought to be more and more creative and produce better quality entertainment, they found audiences were looking for relatability and authenticity.
Therefore, producers have decided throughout the years to find private homes to film in more than any other type of business or structure.
I recall seeing an episode of the “Fresh Prince of Bel-Air” when I was a kid and seeing a music video filmed in their home (as part of an episode). I always thought renting out a home would be a great way to meet famous celebrities and make money ever since. But how does that work? How much will companies pay to use our home was my main question.
So how much do movies and TV shows pay to use people’s houses?
Many of us have pondered this question. For a TV show or movie to use your home in film productions can earn you between $1000 and $5000 per day, according to locationshub.com.
The industry standard is based on your mortgage payment amount.
For example, if you pay $2500 monthly for your mortgage, your rental income for filming on location is usually $2500 per day.
In addition, another factor that will go into pricing is the length the film crew needs to film at your house. Furthermore, whether filming takes place inside or outside your home and your zip code are factors considered in the price production companies are willing to pay.
How does it work?
There are many sites online to sign up for the opportunity to lend your home or business to production companies. However, Peerspace is one of the most popular and reputable sites to register with.
According to their site, over a million producers, directors, photographers, executives, and media professionals visit their site every month. In addition, they have paid out over $150 million to clients to rent their homes or businesses all across the country.
They also boast of many major brands from Disney, AT&T, Facebook, Netflix, Amazon, ESPN, and ABC reaching out to partner with them for potential locations to film.
With Peerspace, you simply list your home or office and earn passive income when a production rents it.
Is this income taxable?
Like me, I’m sure many of you had this same question. The answer is no. The income is not taxable at the federal or state level if you rent out your personal residence for filming less than two weeks out of the year. However, we know all laws are subject to change. Nevertheless, it is a great way to make passive income essentially tax-free.
What if the film company damages your property?
For many of us, our biggest drawback from allowing a film company to use our property for production is fear that something will be damaged, broken, or missing. However, it is encouraging to know that an industry standard for film production in a person’s home is to treat the property with care.
Film production companies must leave the property in the same or better condition than they found it. If not, you will be reimbursed for any property damages that have occurred.
It is said that filmmakers leave your home and property in better shape than when they arrived. Because a film director may desire to update the layout or structure of a room and other areas they may use in the home.
It’s not uncommon for producers to leave you with a fresh coat of paint on your walls indoors or the side of your house externally. They may also leave you with new kitchen cabinets, an updated bathroom, or upgraded landscaping in the yard, following the director’s vision for the project.
A North Shore real estate broker in Chicago named Cyndee Keiser became interested in renting her home to the film industry. She watched as her neighbor’s home was used previously to shoot a movie.
Keiser had a meeting with a location scout, and her home was selected. Later after filming started, her house was in various printed ads and also chosen in a couple of films.
When interviewed by the Chicago Tribune about her home being used in films, Keiser stated, “I loved it. It’s easy money. They come to your door, shoot the ad (or film), clean up and leave. And they hand you a check.”
For more information on her experience, see “The Perks of Renting Your House to Film Productions.”
Will you be able to stay at home when filming?
When filming takes place at your home, it can be an inconvenient time for you. For example, the production team may need to use your kitchen, living room, and backyard to film. In addition, it would be pretty challenging to live life around all the action and equipment.
So, when there is no other reasonable option, you may receive payment for a hotel stay during filming. It will be written into the rental agreement. In addition, hotel stay agreements also include a food allowance and valet parking.
There are other great benefits when movies and TV shows pay to use your houses in movies.
If you are the fortunate person to bring a TV or movie production into your home, you will be the talk of the town. Imagine the adoration you will receive from your friends and family. Also, your city will appreciate the economic boosts film production in their town will bring to local businesses. Furthermore, local law enforcement will enjoy the opportunity to be a security force to the stars while in town.
The actors and crew will need hotel rooms for extended days, food and drinks, clothing, hardware, and lumber for production, and the list goes on. You will undoubtedly be the talk of your town.
It goes without saying, but you may also get to meet your favorite celebrities as they work on your home premises.
These benefits, along with the lucrative payment opportunities, make this an excellent opportunity to make passive income and make your home and town a part of movie and TV history.