Most lucrative areas for letting out private parking spaces revealed
01/07/2009
A new league table of the most lucratice places to rent out private parking spaces has been compiled by specialist letting firm, Park Let.
The list only included areas outside of London, with Liverpool topping the list. Liverpool residents who rent out their driveways or garages earn an average of £123 per month, totalling £1,476 each year.
Second most lucrative was Nottingham, whose residents charge around £115 per month for their car parking spaces. Manchester parking spaces go for £109, while Brighton and Bristol follow close behind charging £108 and £100 per month respectively.
Experts at Park Let, who help people to rent out their car parking spaces explained that the cities with fewer people renting out their spaces tend to have higher rental incomes. Luke Kelly, from Park Let, also explained that the high rent values are linked to areas where people want to work. He says, "the areas where landlords tend to make the most income are usually better known for being commercial centres rather than residential areas and that's why London does so well.”
The most expensive area of London to rent a space was Brompton, in which residents can charge up to £538 each month.
The list only included areas outside of London, with Liverpool topping the list. Liverpool residents who rent out their driveways or garages earn an average of £123 per month, totalling £1,476 each year.
Second most lucrative was Nottingham, whose residents charge around £115 per month for their car parking spaces. Manchester parking spaces go for £109, while Brighton and Bristol follow close behind charging £108 and £100 per month respectively.
Experts at Park Let, who help people to rent out their car parking spaces explained that the cities with fewer people renting out their spaces tend to have higher rental incomes. Luke Kelly, from Park Let, also explained that the high rent values are linked to areas where people want to work. He says, "the areas where landlords tend to make the most income are usually better known for being commercial centres rather than residential areas and that's why London does so well.”
The most expensive area of London to rent a space was Brompton, in which residents can charge up to £538 each month.
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