Homeowners making hundreds from renting out their driveways

Homeowners making hundreds from renting out their driveways

by Helen Jackson |
posted 15 May 2018

Homeowners across the UK are making hundreds, even thousands of pounds, by renting out their driveways as parking spaces. Some homeowners across Britain, are earning over £1,000 on average each year!  This is according to new research by online parking portal YourParkingSpace.co.uk.

While London takes the number one spot for driveway earning potentials - £2,313 per year on average – there’s good news for residents elsewhere. Areas include Brighton, Leeds, Oxford, Bristol, Manchester, Edinburgh, Cambridge and Liverpool. Here driveway owners with YourParkingSpace.co.uk made more than £1,500 per year on average.

Harrison Woods, Managing Director at YourParkingSpace.co.uk, said:

“More and more homeowners across the UK are significantly boosting their household income by renting out their driveway to motorists needing somewhere to park.

It is particularly pleasing to see that money can be made from renting out a driveway in all parts of the UK. Demand will always be strong for driveways situated close to town and city centres, railway stations and transport hubs, sporting arenas and music venues.”

Within London, the borough of Kensington and Chelsea took the top spot with residents earning a staggering £3,694 per year. There were more towns breaking the £1,400 per year earning threshold including Reading, Southampton, Glasgow and Belfast. Other cities outside England doing well were Cardiff, Aberdeen, Dundee and Swansea.

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Harrison added:

“Parking on a pre-booked rented driveway is a win-win situation. It means additional income for the homeowner, while for the motorist it means no more parking worries.”

For more information about how you can make money renting out a driveway, garage or secure parking space, visit www.yourparkingspace.co.uk.

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Helen Jackson
Helen Jackson

Helen is part of the marketing team here at Money4yourMotors. Helen oversees a wide range of marketing activities including social media and content creation.