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.
