Could Your Parking Spot Provide An Unexpected Bonus This Summer?

Sat 3rd Apr 2021

Homeowners across the UK could be in line to receive a windfall this summer by renting out their driveway or parking space.

With foreign holidays likely to be restricted in 2021, the good-old fashioned British holiday is back in vogue, and the so-called staycation means that many of the UK’s top tourist spots will be packed out over the peak summer months - meaning that affordable parking spots near holiday homes, hotels and camp sites could be at a premium.

The opportunity to hire out your parking spot has become more and more accessible due to websites such at YourParkingSpace which make it easy to allow others to park on your drive for a fee.

Research by YourParkingSpace has found that those with a prime spot in Edinburgh could make up to £76 a month by hiring out their space, while those in Brighton could make even more, up to £96 a month. Those in central London could make the most, with parking in the capital very rare, those with a space can bring in an additional £204. The company surveyed 500 Brits and found that 35 per cent are likely to book a staycation in 2021 - meaning that there could be plenty of empty driveways and more seeking a place to park elsewhere.

Harrison Woods, managing director at YourParkingSpace said: “This presents a great opportunity to homeowners with an empty driveway or off-street private space near a tourist hotspot to rent it out to holidaymakers and day-trippers looking for somewhere to park which they can pre-book online, guaranteeing them availability when they arrive.”