Someone in the UK made over P2-M renting out his home’s parking space last year

On average, this gig earned each homeowner P34,000 throughout the year
by Leandre Grecia | Feb 2, 2022
Your Parking Space, UK rented parking space, parking space rent, UK rent driveway, UK rented driveway, UK driveway for rent, UK parking space for rent
PHOTO: Your Parking Space

In 2020, we learned that the homeowners in the UK made over P1.3 billion renting out their driveways as temporary parking spaces for motorists. Well, it appears business is still booming, as a lot of Brits still took home a lot of cash doing the same thing last year.

According to the online parking portal YourParkingSpace.co.uk, homeowners who made good use of their empty driveways were able to bag £500 (P34,000) on average throughout 2021. The company mentioned that there were some who were able to get “substantially more.” How much more? Well, it said a driveway in Bristol actually netted £33,100 from rental fees last year. Can you imagine making more than P2 million in a year with your driveway alone?

“Rocketing food and energy prices have left many to take stock of how they can make their income stretch that little bit further,” said YourParkingSpace.co.uk CEO Harrison Woods. “Often, this involves tightening the purse strings on dining out, leisure, or entertainment expenses. However, by renting out an empty driveway, homeowners can make up any deficit without making any significant lifestyle changes.

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“So, with many people worrying about recent rises in food and fuel costs, a possible remedy could, quite literally, be on their doorstep—turning driveway space into [an] income-generating space.”

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In areas where Your Parking Space is available, homeowners simply register for free. A dedicated mobile app where users can book parking spaces also manages transactions and automatic payments for all rentors.

So, do you think this system could work here in Metro Manila?

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PHOTO: Your Parking Space
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