There are several apps that allow you to make money renting out your parking space.
With the cost of living skyrocketing, people are looking for clever ways to make an additional buck. The good news is there are many ways to make extra money, whether driving for Lyft, freelancing on Fiverr, babysitting through Care.com, running errands with Task Rabbit or renting your pool out with Swimply.
Joe Gorham, 54, of Brighton, England, told The Mirror that renting out the three parking spaces in front of his home was a low-key way to rake in some passive income with little effort.
He said that renting out the spaces brings in an additional £8,000 ($10,000) annually. The money comes in extra handy because he is a full-time caregiver for his partner.
Joe came up with the idea after paying around £200 ($250) per week to park his car in Southampton when he and his partner went out on cruises. His friend told him about an app called YourParkingSpace, which saved him money when he was out at sea. So, he figured, why not rent out the spaces in front of his house?
"I started doing it because we had the spaces spare, and we also had some issues with the house that needed to be sorted, we had to get a new roof because of a leak, and we also had to get the windows and the garage doors sorted, too,” he told The Mirror.
"It was initially for this but with all the price hikes going on, it's really helped us keep going,” he added.
One reason why Gorham has been so successful is that he lives in an area where parking is prohibitively expensive for tourists and people who work at the local hospital. He lives near the Brighton Seafront, a popular tourist destination known for its pier, railway, aquarium and fishing.
But he doesn’t do it just for the money; he posts his spots because he believes it’s good for the local community and prevents people from being ripped off.
“I don’t do it specifically for an income–I do it because I think that the council in Brighton just charges so much money for parking, and it doesn’t encourage people to come and spend in the city,” he said according to MSN.
"If you parked on Brighton Seafront, you are only allowed to park for 11 hours, and that will cost you £33 ($42); if you go to the NCP car park it will cost you £48 ($60) for the day,” he said.
Gorham charges people an affordable £12.50 to park in a spot for the day ($15.75), and they can also use the car charger that cost him £350. He says the number of people using his charger is rising as more people adopt electric vehicles.
Renting out your parking space could bring in some easy extra money, especially if you live near a tourist destination, hospital, university or sports stadium. Also, those who live in heavily populated areas with fewer parking spaces or stringent parking restrictions can also make some good money, too.