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Householders make £15 million a year renting out driveways

The i logo The i 18/01/2019 Matt Allan
a car parked in front of a house© Provided by Johnston Publishing Ltd

British homeowners are raking in millions of pounds a year from renting out their empty driveways and parking spaces to motorists.

Last year saw a record number of homeowners sign up to a scheme that helps them make money out of unused parking areas.

According to data from parking portal YourParkingSpace, there was a 41 per cent increase in households joining, with more than 29,000 new registrations.

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Road to riches

In total, the company’s members made just over £15m by charging other drivers to use their private parking space or driveway.

Most of the money was made in London, where spaces range in price from £2 per hour to more than £30 per hour but the other most popular cities in the top 10 were Manchester, York, Bristol, Birmingham, Edinburgh, Leeds, Reading, Liverpool and Oxford.

a car parked in front of a building© Provided by Johnston Publishing Ltd

Harrison Woods, managing director at YourParkingSpace.co.uk, said: “Our latest research reveals a significant increase in driveway and empty parking space registrations in 2018, up by more than 40 per cent over the previous year.

“In a time of economic uncertainty, it would appear that more-and-more Brits are realising they can make a tidy sum from renting out their driveway to needy motorists.

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“Particularly desirable locations include those in town and city centres, near railway stations, plus sports and music venues.”

Among the other towns and cities to see a spike in registrations in 2018 were Southampton, Coventry, Cardiff, Brighton, Croydon, Glasgow, Cambridge, Norwich, Nottingham and Crawley.

Woods added: “Even less obvious locations, such as Crawley near Gatwick Airport, can provide a goldmine of opportunity for those savvy enough.”

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