Drive Way Rental, could you be earning on your empty car space?
Could you have an untapped mini gold mine just sitting outside your home waiting to be taken full advantage of?
We are talking of course about the concept of renting out a space on your driveway to drivers looking for parking spaces in your area. Over the course of the last few years, as the prices for private car parks have soured and spaces seem to have decreased, or perhaps there are just more motorists on the roads, the popularity of renting your driveway out has become popular. In fact it has become so popular that there are now websites dedicated to matching drivers and driveways up. So how do you find out if your driveway could earn you a nice little sum?
If you live in the middle of nowhere, then sadly your driveway is not going to become the gold mine you were hoping for. Highly sought after driveways are near to good transport links that can offer drivers a reasonably priced parking space and a short commute on public transport to their workplace. They can also be conveniently located for airports or even ferry terminals, sports stadiums, large shopping centres or business parks where there are not enough parking spaces for all the people who work there. Basically, anywhere that there are lots of costly car-parks with limited spaces or where larger numbers of people might want to park. And if you work long hours, leaving your driveway empty during the day, then it’s a great way to make your driveway work for you.
Why rent someone’s driveway?
Why would people be happy to rent the driveway of a complete stranger and leave their car there for hours at a time? The answer is simple, you enter into a contract with the home owner and in return you have your own personal parking space, no need to worry about struggling to find a space in a crowded car park. You pay less than you would in a car park and better still there is less likelihood of another driver in a car park putting a dent in your door as they get into their own car.
The most profitable rented driveways
Unsurprisingly the driveways that command the biggest per annul rent are in the south and located within easily accessible public transport distance from London. It makes sense, this is the area
of the country where parking is the most expensive and spaces are at the biggest premium. Leeds, Manchester and Edinburgh are also areas where private parking is very expensive and driveways can earn a good amount for the owner. The connection of course between these last three is that they all have airports as well as being big cities.
So, if you have been thinking about renting your driveway out then why not take a look at some of the sites that you can list your drive on and see just how much you could be earning?