Edinburgh driveway rentals sees owners cash in

Many motorists rent driveways to beat the parking attendants. Picture: Ian Georgeson

Many motorists rent driveways to beat the parking attendants. Picture: Ian Georgeson

4
Have your say

THE humble driveway is providing lucrative income for householders in Edinburgh.

Research by online parking marketplace website YourParkingSpace.co.uk today reveals driveways in the Capital can generate an income of just under £1500 a year, putting the city in third place in the UK.

Residents feature in the top ten UK cities for making money by renting out unused spaces.

City centre parking is at a premium and can cost commuters thousands of pounds a year, but driveways can be rented for a fraction of the price.

Edinburgh has around 300 driveways and garages advertised on the website, ranging from a parking space yards from the Scottish Parliament and Dynamic Earth going for £10 a day to a driveway in Saughtonhall close to Murrayfield Stadium advertised at £85 per month.

The biggest demand is for parking spaces near attractions such as shopping centres, stadiums hosting sporting and music events, beaches, airports and railway stations.

Residents with driveways and commuters are matched up by a form of “online dating” with spaces booked and paid for online and given star ratings.

In London the average driveway nets £2040 a year.