Residents earning £429 per month renting out drives Homeowners cashing in on unused spaces

RESIDENTS in Birmingham could be earning as much as £429 a month for renting out their unused driveway.

Renting parking spaces has become more commonplace in recent years and dozens of residents are making a tidy profit.

Those with the best chance of making a pretty penny from their drives are homeowners close to airports, railway stations, football grounds and hospitals.

Since the mid-2000s there have been numerous parking sites that offer a free listing service to rent out a drive and to buy parking.

JustPark is one of a clutch of websites, and features many parking drives. Driveways which could make the most money include;

Bull Ring/New Street Station: Drives less than a mile from Birmingham’s city centre can earn an average of £6.50 a day, and at least one charges £13.

Villa Park: Along Trinity Road and Townley Gardens many drives are being rented out from £7.80 per day to £14.30, depending if it’s a matchday or not.

Birmingham Airport and NEC: In Bickenhill, Solihull, drives are being rented out for £5.20 to £6.50 per day. One homeowner offers a lift to the airport and back for a £58.50 fee.

Queen Elizabeth Hospital, Edgnaston: To park on a drive near QE, you can expect to shell out up to a whopping £19 a day, although some Good Samaritans charge as little as £3. Prices are subject to website fees, with JustPark charging three per cent commission on money earned.

Drive owners are advised to draw up a contract detailing liability with motorists using the parking space, consider safety aspects and to be aware that any income will be subject to tax.

The Government has ruled that those renting out their drive in England do not need planning permission from the council, and that local authorities should even encourage the practice to decrease congestion. Only off-street parking spaces can be rented out, as selling on a residents’ parking permit is against council rules.