What Are The Benefits of Renting Out My Car Parking Space?

For those of us lucky enough to have a spare parking space available, there is a very simply way to generate large sums of money simply for leasing the space to someone in need of a place to park. All you need to do is to advertise your space through the many car park rental websites online or in local newspaper classifieds and customers will contact you directly to negotiate terms. It’s that simple!

Think about what you could do with this additional income. Popular ideas include saving up for major end or year holidays, helping with the cost of school fees, putting it towards the rent/mortgage or simply rewarding your family or yourself with a monthly reward like a weekend away or night out. You could even use it to acquire additional parking spaces for investment purposes.

On top of all this you would be helping out the people who drive into our CBD areas daily.

There is a growing shortage of places to park in our capital city CBD areas such as Sydney, Brisbane and Melbourne and if these people are lucky enough to find a space the prices are often extremely expensive. This is purely and simply the reason why the private car park rental market demand is growing at a rapid rate.

Do some research into current car parking rental rates which will help you determine a fair asking price for your spot. Location and duration will be the primary factors when determining your price.

More often than not, your car park will be rented out for a long period of time due to the fact that usually the potential client would be a full time employee near or around your location. Renting out your car park will save them on corporate car park fees and most importantly time.

Renting out your parking space is something that most home owners would never consider as a potential source of additional income. So if you feel that this is something you could offer to the public while generating an income, then start advertising now.