Cashing in on your private parking spot

People with empty driveways or allocated parking spaces could be set to make money as motorists return to work and concert venues reopen, attracting thousands of drivers back to Scottish cities.

In fact, if you live near a train station, or close to a stadium, airport, or concert venue then you can earn anything from £40 to £400 per month, either renting hourly or by the month, according to data from Your Parking Space.

The online parking website found that space renters in Edinburgh, Bristol, Leeds, Oxford and Manchester made more than £1,500 a year, while people with empty driveways in London and Brighton earned an average of £2,000 a year by renting out their space.

Right now, driveways, allocated off-street spaces, underground parking, and lock-up garages are all in high demand – and anyone who lives near a place with residential parking restrictions or that doesn’t have enough car parks to cope with motorist demand can give drivers a helping hand.

If you have a parking space to rent, simply sign up, list the details and set your price. Drivers then access the site, identify their preferred location and find the space – and price – that best suits them. In addition, renting your space avoids unauthorised drivers stealing your space.

And for motorists, it’s an easy fix when struggling to find space if commuting to a workplace that doesn’t support parking, or if in need of a day space for a particular event. It also helps you to avoid turning up to your location to find the car parks full and all on-street spaces taken.

Aberdeen has currently several city centre monthly spaces, with options for daily and hourly parking ranging from £2 to £18.75 for 11.5 hours. Drivers can specify covered parking, CCTV, EV charging, disabled access, from large spaces (minibus and campervans) to motorcycle spaces.

Harrison Woods, CEO at Your Parking Space said: “A final unlocking of Covid social contact restrictions will lead to a surge in demand for pre-bookable driveway parking as music and sports venues fill up to pre-pandemic levels.

“It is a great opportunity for homeowners living near these locations to make an additional income by renting out their driveways as parking spaces.”

PARK AND GO: Aberdeen has several city centre spaces awaiting the end of lockdown.