Yard sales and garage sales are kind of awesome. Not only do they provide you with an opportunity to clear out some of the stuff that has been cluttering up your house, but you can even make money doing so! Another perk is that they can turn into a type of community event that allows you to meet neighbors and other members of the community that you don’t usually cross paths with.
As you’re gathering up the things you plan on selling at your next yard sale, be aware that there are some rules and ordinances you have to follow before you can start making money.
If your driveway isn’t large enough to accommodate all the traffic you hope to attract during your yard sale, take a look at the street. Is street parking allowed or will you have to send people to another location to park and then have them walk back to your property? The last thing you need is for the vehicles of your yard sale customers to be towed while they’re shopping.
What Local Ordinances Do You Have to Follow?
Check with your local governing body and find out what specific ordinances they have in place that pertain to yard sales. Common rules include:
- The size and location of promotional signs.
- The hours your yard/garage sale can operate.
- Which days of the week yard sales can take place.
- Locations where yard/garage sales can take place.
Pay Attention to Earnings
You don’t want your yard sale to result in you getting in trouble with the IRS so you need to pay attention to your earnings. Few know that they are supposed to report the profit from any item that is sold for more than what you purchased it for.
Are you planning an upcoming yard/garage sale? How are you managing it?