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Renting out your driveway proves a handy little earner
HUNDREDS of people across Oxford are renting private parking spaces to commuters, tourists and shoppers.
The website ParkatmyHouse.com currently has 396 spaces advertised by local residents, more than three times the 110 registered spaces in 2009. Spaces can be rented day-by-day, with popular Oxford locations including places near the Westgate shopping centre and the railway station. The website also said the amount people are charging in Oxford has risen eight per cent in the last year to reach an average of £100 a month.
Richard Sederman, who lives near the railway station, has been renting his spare parking space through the site since October 2011 and makes up to £130 a month.
The 34-year-old marketing director said shoppers, tourists, train commuters and people who work in Oxford had all rented it for £5 a day. And he said he had put the extra income toward holidays.
The father-of-one said: “It started off relatively booked, but now it’s nearly always booked. It’s mostly used by business people. People who use it for the train or the business school, or just to visit Oxford.”
He added: “(The income) does help. We save it and it pays for the little things.
“I rarely ever see the person parking.”
It comes as the Government’s Communities Secretary Eric Pickles this month came out in support of homeowners renting out their driveways to motorists.
Gavin West, managing director at Summertown-based Kemp & Kemp Oxford Estate Agents, said an off-street space in a desirable location like Jericho could fetch up to £20,000 if put up for sale.
He said: “It would be interesting to have an auction of a parking space in a desirable postcode because of the paucity of supply of parking spaces and also because those who live in those locations are more likely to pay more to secure a parking space to take their car off the street.”
Another online firm, ParkLet.co.uk, said it has more than 50 spaces for rent in the Oxford area with the average spot taking in £85-a-month.
Director Verity Winsbury said: “ We expect Oxford to be one of our largest growth areas.”
Ed Turner, Oxford City Council deputy leader, did not think private space renting would take a significant amount from the council’s parking income.”
He said it showed Oxford was a brilliant place to visit and there would always be a demand.
s You can rent out your driveway, just as you can rent out a room in your house – provided you own the property or have the permission of the landlord, and declare the income to the taxman.