Safe as houses…rented driveways provide robust income stream

New data released by online parking portal YourParkingSpace.co.uk reveals how rented driveway income provides long-term economic stability, even in uncertain times.

Indeed, analysis of its top 50 performing towns and cities, where homeowners are renting out their empty driveways, show that average annual income is almost identical over previous years.

From 2017 to 2020 the average annual driveway income has only changed from £1,130 to £1,106, with minimal variance in the intervening years.

Harrison Woods, managing director at YourParkingSpace.co.uk, said: “Additional income for homeowners by renting out their empty driveways to motorists needing somewhere to park is as safe as houses, if you pardon the pun.

“The amount made by homeowners has remained incredibly stable over the years, providing reassurance of a steady stream of income, even when we face difficult times.”

In fact, further research by YourParkingSpace.co.uk is also encouraging for empty driveway owners, as bookings have rocketed post-lockdown, even outperforming pre-lockdown figures as commuters chose to drive back to work rather than taking public transport.

In the last three months alone, new booking customers have increased by 70 per cent. Areas in particular demand include those in town and city centre locations near to offices.

Harrison added: “Rented driveway parking is growing in popularity as the way we travel changes. Anyone who has an empty driveway, possibly one that they don’t use throughout the day, is encouraged to list it for free on YourParkingSpace.co.uk so they can start making money from this valuable asset.”