BRITS can earn £100s every month by simply renting out their driveway – in one of the easiest money-making side hustles around.
According to data from Just Park, home owners living across many different locations up and down the UK can make extra cash with their unused parking spaces – with some areas highly sought after.
Homeowners could earn £330 every month – and in some very rare cases the figure rises up to £5,000 a month – by renting out their driveways, according to research by LKQ Euro Car Parts.
The motoring experts have crunched the numbers and revealed that Brighton is the most lucrative location.
Residents living in the coastal city are able to earn an average of £636 a month by renting out their unused driveway or parking space.
This number is somewhat inflated by the fact that in some parts, the most expensive parking space to rent in Brighton is advertised at more than £5,000 a month.
London also features high on the list, with the average monthly income from renting out a parking space there standing at £480.
The most expensive parking space listed in the capital is a corking £1,057 a month.
Glasgow and Edinburgh are also significant earners, with people living in these Scottish cities receiving over £400 a month for renting out their unused parking spaces.
Mark Newman, from Sheffield, is just one home owner who’s turned his parking space in a great little earner, largely thanks to match-going fans heading to a nearby football stadium.
He said: “I first started to rent my parking space after a gentleman knocked on my door enquiring about it.
“I live only a stones-throw away from Hillsborough, the Sheffield Wednesday football stadium, and he spotted an opportunity to grab himself a reserved spot in a fantastic location.
“I agreed to let him rent my space for every home-game, £10 per match, which adds up to over £250 across the football season.
“He’s been renting this space for a season and a half now and drops a white envelope through my door every time he parks, handwritten with a ‘thanks’ and the £10 enclosed.
“If I had any advice to people looking to rent their parking space, I’d say make sure you look at the available options online and compare with your location to see what might be available to you.
“You never know, you could make a nice little side hustle out of it.”
LKQ Euro Car Parts weighed in, adding: “Parking rentals are a great way to earn extra cash and make use of your unused space, but they also provide an affordable option for your vehicle when visiting other cities.
“If you’re parking somewhere other than a secure car park, it’s important to ensure that your vehicle is protected from potential theft.
“Never leave valuables in your car, especially in plain sight, and keep your key in a protective case that prevents fob hacking technology.”
This comes as a man recently shared how he makes £1,000 a month from renting his EV charger that he has installed outside his home.
Joseph Gorham, 53, paid £350 for his charger which he rents out to fellow electric car owners.
