posted 2 weeks ago

Could You Rent out Your Driveway to Soften Salary Shortfall?

Thousands of people are already renting out their driveway and making good money doing so

Almost 10 million people are currently on furlough at the time of writing, and the economic uncertainty caused by the Coronavirus has left a lot of people concerned about where they’re going to get their money from. Naturally, the population are quickly learning to adapt and become a bit more creative with the ways we generate income and now, thanks to YourParkinSpace.co.uk, homeowners are making more than £1,100 per year on average by renting out their driveways as parking spaces.

These extra earnings can prove invaluable for people facing unemployment or a drop in income as the furlough scheme winds down, and it’s very easy work. 

Demand for private parking is likely to increase significantly as we come out of lockdown and people return to normality while avoiding public transport and people are making honest money across the country by letting out their spare parking space. 

In total, there are 25 towns and cities across the UK where the average annual revenue from rented out driveways exceeds £1,000. London tops the leaderboard, which is to be expected as land is scarce and demand is exceptionally high, but in Edinburgh, you can earn £1,896, in Bristol the average is £1,716 and in Leeds, the average is £1,452.

Managing Director YourParkingSpace.co.uk, Harrison Woods, says: “In these unprecedented economic times many households are worried about their personal finances, and rightly so.

“Offering a driveway to rent by motorists needing somewhere to park could be one way to soften any financial impact for those who have a space available.

“It’s easy and free to list a driveway or empty parking space on YourParkingSpace.co.uk and with our latest figures showing an annual average income of more than £1,100, when considering the top 50 towns and cities, it could help ease any monetary burdens.

“There’s also very little to do after listing a driveway, apart from looking forward to the bookings, making it very convenient for many people.”

It costs absolutely nothing to list your empty driveway or parking space and all the booking and payments are handled by YourParkingSpace.co.uk. So why not list your space alongside over 350,000 spaces which are already being advertised across the country? Your space can be booked out hourly, daily, weekly or monthly and you can start generating a passive income for you and your household.