How Much Should I Rent My Parking Space For?
We’re here to let you in on a bit of an open secret… it's absolutely possible to make hundreds of pounds a month without doing all that much in return. Don't worry - we’re not suggesting you join some dodgy multi-level marketing scheme. All you need to do instead is simply rent out your drive or unused garage with Stashbee.
Sure, there's tonnes of shoddy financial advice out there these days. But one tried-and-true way to make some passive income safely and reliably is through renting vacant parking space. If this sounds enticing, read on to get the low-down on just how much you can make, how to get started, and what to consider.
How Much Can I Rent My Parking Space For?
Estate agents always talk about location, location, location, and obviously, if your parking space is right near Wembley Stadium, Heathrow, or London Waterloo- you can expect to bring in a hefty sum - upwards of £3,000 a year! But before you name your price, there are a few other things to consider when renting out your parking space, aside from that all-important location.
- Play the field: If you're stuck on how much to charge, explore our easy-to-navigate website and see what other Hosts are charging for their parking spaces.
- Consider amenities: Does your parking space or garage rental offer features like 24-hour CCTV, floodlighting, or a locked gate/door? These added extras will help you command a higher price, as they add value, safety, and peace of mind for Guests.
- Taxes and fees: Now on to the unexciting (but super important) stuff. Before embarking on your Stashbee Hosting experience, we'd like to talk about taxes and fees. Where the former is concerned, you won’t have to pay tax if you make less than £1,000 a year with Stashbee - anything over that will need to be reported to HMRC, just to stay on the up-and-up. When it comes to fees, Stashbee does charge Hosts a little extra each month, purely to offer you the best Booking and Payment Protection, and more! This fee comes directly from the Guest, and we will never send you a bill- so don't worry about a mountain of invoices building up in your letterbox.
Remember, when hosting with Stashbee, YOU are in control of how much money you decide to charge, how often you rent your space, how long you rent it out for, and to whom you rent it. With great power comes great profits!
Source: https://www.frinkiac.com/The choice is yours!
Private Garage Rental
Here's how it works:
Got a garage that you're not using? You can make some extra coin by renting that out too! As with leasing out a parking space, it's super easy to list your unused garage to rake in some extra income with Stashbee.
- List your garage for free and upload some photos
- Keep an eye out for enquiries from potential Guests Accept bookings from whoever you'd like to rent to Finally, arrange access for your renters.
We'll sort out all the important (and time-consuming) administrative stuff like contracts and your Guest's insurance. What’s more, you can count on your monthly payment like clockwork thanks to Stripe, our cashless payment system. It's our pleasure to deliver a totally hassle-free process so you can spend more time doing what makes you happy.
1) Renting your garage as a parking spaceThere are loads of people who want to protect their ride in secure, weather-safe storage like your garage. If you can help them solve this problem, they'll pay you for it, and handsomely.
2) Can I rent my garage out for storage as well as parking?
At Stashbee, we help Guests find plenty of storage solutions, including loft and attic space, and a garage is no different, so if you’ve got it to spare, why not double down on your earnings and rent out both? In fact, you may even find a Guest that needs both vehicle and household storage - talk about two birds and one stone.
The possibilities of your garage are well and truly endless.
Get Listing and Start Earning
At Stashbee, we understand how life-changing a few hundred extra pounds a month can be. Renting out your vacant parking space or garage is a brilliant step towards helping you save for the future, pay off student debt, or even take that dream trip you've always wanted.
We're more than happy to help you get started, and will be with you for support every step of the way. If you need any assistance in setting a price for your rental space, contact our friendly and helpful team today.
In the meantime, have a little fun playing around with our earnings calculator to get an idea of just how much you could make from renting out your parking space.
18th May 2021