Make Money From Your Parking Space

Park some extra money in your bank account
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Rent out your parking space and drive your earnings up.

 

Champion Idea

 

Rent out your parking space. Commuters, travellers, people attending an event… pay to park in your drive or garage.

 

Earnometer (out of 4):  championtipsred-1 championtipsred-1

 

Average of £30-£200+ per month

Depending on your location.

 

Key Requirements:

 

  • An off-road parking space or garage that can be made available for someone else’s car.

     

Champion Tips 

 

  • Be competitive. Check what other people in your area are charging on the listing sites so that your parking space is attractive.

  • Ensure you have a contract – normally available through the main listing sites.

  • Check with your landlord and mortgage company that you are within the terms of your lease or mortgage.

  • List on multiple sites to maximize your chance of making money (remember to check any fees first).

  • From April 2017 potentially earn £1000 tax-free in the UK.

  • We are talking about private off-road parking spaces – councils don’t like you selling on parking permits.

  • Show off your space with a great photo.

  • Let your insurance company know in advance so that your cover is not affected.

     

Champion Links 

 

Some popular services that help you rent out your parking space:

 

Just Park

ParkLet

YourParkingSpace

Park on My Drive

Gumtree

 

Champion Extra Tip: Always check the terms and conditions and fees. Some services add fees to the listing price, some charge an admin or annual fee. 

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