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TODAY'S OTHER NEWS

Latest idea for agent diversification? Letting out driveways…

Could this be the latest way for letting agents to spread their risk and diversify their offer to clients - by letting out driveways?

Online parking website YourParkingSpace claims owners are making more than £1,000 per year on average by renting out their driveways to motorists.

The site looked at the 50 top earning cities and towns to reveal an annual average driveway income of £1,114.

“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” claims site managing director Harrison Woods.

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

Woods adds: “Additional income is always very welcome and is achieved by simply unlocking an often ignored resource – an empty driveway.”

In 2018 almost 30,000 people registered their driveway with the site.

  • Bryan Shields

    I only experianced this situation once & it worked mostly because the renting client only recieved a company car late on. But I still believe this could end oud out a can of worms in a lawers sea of unseen consequentices.

  • Paul Barrett

    Nobody needs a LA to rent out their drives.
    Just put up a board on the drive.
    Cards at supermarket noticeboard for free.
    There are also dedicated sites that facilitate parking.
    No homeowner or LL needs a LA to let their drives out.

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