Do you know you could make extra money if you have a vacant parking space that you are not using for yourself! Here is one company that provides this option in Australia to rent parking spaces that you own!
So, how much money can you make?
That actually depends on the parking space and the area in which you own the Parking space. People are able to make up to $400 per month or $4000 per year from one Parking space.
Features of the Parking Space
All types of parking spaces are distinct, considering features such as Size, Location, Security, Lighting, etc.
For example, If you have a parking space such as a covered garage, it can be locked with a key and good lighting. Something like this will help you make a higher rent than an unsheltered driveway in the same area without these features.
Compare Your Parking Space To Other Spaces to Calculate monthly rental.
Finding out the amount of rent that you can receive from your parking space is easy. You see, It is similar to any other type of real estate. The best way to determine a price for your parking space is to examine identical parking spaces and their prices.
Parking Made Easy is a website in Australia that unites drivers who are looking for a parking space with homeowners who have such a space available. For example, homeowners who have a vacant apartment car space, driveway, or garage available.
Generally, Residential parking spaces cost around half compared to the commercial parking operators.
So, It is a nice way to earn some extra income, especially during these times of Covid-19, where some extra income is always welcome!