Would You Consider Renting Out Your Driveway?

Homeowners are making more than £1,000 per year on average by renting out their driveways to motorists.

The research by online parking portal YourParkingSpace.co.uk looked at the 50 top earning cities and towns to reveal an annual average driveway income of £1,114.

While residents in some cities are earning a lot more, most significantly in London, the results also revealed that empty driveways were a money-making opportunity the length and breadth of the UK – from Brighton to Aberdeen.

Harrison Woods, managing director at YourParkingSpace.co.uk, said: “Households across the country are earning significant sums by renting out their empty driveways to motorists looking for somewhere to park.

“It really is possible to earn more than £1,000 per year, especially if your driveway is located in a busy area, such as near a train station, music or sports arena or local amenities.”

Further analysis also shows that breaking the average £1,000 threshold has been achieved consistently by householders over the previous few years with YourParkingSpace.co.uk, with 2018 and 2017 showing very similar results of £1,126 and £1,130 respectively.

Harrison added: “Some people use the extra money to cover life’s essentials, like paying the gas and electricity bills, while others spend it on little luxuries or save it for a rainy day.

“Whatever the situation, the additional income is always very welcome and is achieved by simply unlocking an often ignored resource – an empty driveway.”

In 2018 alone, almost 30,000 people registered their empty driveway with YourParkingSpace.co.uk, making it the busiest year ever for the online parking portal.

For more information about YourParkingSpace.co.uk, or to list your empty driveway or parking space, visit www.yourparkingspace.co.uk.