So we’ve recently learned how we can earn some cash renting out our stuff, along with how to get the best deal for our old mobile phones.
This next new tool for earning a bit of extra money looks at how you can rent out your garage or parking space.
Park Let calls itself the “UK’s largest parking space letting agent”, and has a handy tool on its website to give you an estimate of what you could expect to receive each month for hiring out your space.
Obviously, if you live in a busy city, the premium for your space is likely to be much higher than elsewhere, especially in London. Here are few examples of low, medium and high prices for London and the rest of the UK. The price is based on the demand in the particular area, as well as the quality of the space to rent, which looks at things like security.
Popular parking space searches in London
| Location | Low | Med | High |
| Canary Wharf, E14 | £133 | £147 | £162 |
| Liverpool St, EC1 | £199 | £221 | £243 |
| Leicester Sq, WC2 | £268 | £298 | £328 |
| St Pauls, EC1 | £108 | £120 | £132 |
| Mayfair, W1K | £313 | £348 | £383 |
| Whitechapel E1 | £138 | £153 | £168 |
| Fulham, SW6 | £174 | £194 | £213 |
| Pimlico, SW1V | £182 | £202 | £222 |
| Kings Cross, N1 | £147 | £163 | £180 |
| Old Street, EC1 | £185 | £205 | £226 |
| Putney, SW15 | £105 | £117 | £128 |
Popular parking space searches in the UK
| Location (centre of) | Low | Med | High |
| Birmingham | £84 | £94 | £103 |
| Brighton | £97 | £108 | £119 |
| Bristol | £90 | £100 | £111 |
| Cambridge | £64 | £71 | £78 |
| Chelmsford | £51 | £57 | £62 |
| Edinburgh | £83 | £93 | £102 |
| Leeds | £88 | £98 | £108 |
| Liverpool | £111 | £123 | £135 |
| Manchester | £98 | £109 | £120 |
| Nottingham | £104 | £115 | £127 |
| Oxford | £88 | £98 | £108 |
| Reading | £63 | £69 | £76 |
Park Let has over 10,000 rental contracts in place and over 16,000 parking spaces available to rent across the UK.
The company provides a fully managed letting service including matchmaking the tenant and landlord, preparing contracts and monthly rental collection.
Park Let’s rental prices are apparently up to 20% cheaper than other comparable season tickets and tenants can choose between a 5 and 7 day rental week.
It’s another nice idea but probably with limited appeal, but it’s another option to consider if you’re looking at ways of earning some extra cash, live in an area where it would be worth your while putting up with someone using your space, and of course, if don’t need the space yourself.
photo credit: rockstarassi
Great tool – I’ve got a few parking spaces I don’t use at my office in W1. Apparently they are worth £350 each! See here http://www.parklet.co.uk/parking-rental-price-guide.aspx
Why hadn’t I thought of this earlier.
Jeremy.
Another site to throw into the mix is
http://www.spareground.com
This website allows users to list any spare/vacant space they may have so others may rent it from them.
The space can be parking spaces, driveways, garages, car sharing spaces, storage space (attics, sheds, barns, out-buildings), unused land, empty garden space and accommodation.
Users can also list what they are looking for and hopefully can search for cheaper alternatives to their storage, parking needs etc.
The site is free of charge to use so people have nothing to lose by listing on the site.
The ethos of the site is to use what space we already have here in the UK and in doing so, providing ethical and economical solutions to peoples’ space requirements.
The site is open to everyone to use including private individuals, organizations, agricultural set ups and corporate groups to name a few.
There is a website that allows you to advertise a private drive or garage at a very reasonable price. http://www.parkonmydrive.net
You have got to go to this site !!
http://www.park-uk.com. They have a completely free service and advertisers of parking spaces get to keep all the cash they make.They charge no joining fees or commission whatsoever.The site is brilliant and has very good features.The customer support is second to none. Well done to park-uk. Thank you