Creating extra income as a way to survive the UK austerity cuts and high petrol prices at the pumps is increasingly appealing. People can take on extra work as a logical way to increase earnings, or they could make use of an asset which they already have which could be utilized in an eminently sensible way. Homeowners and businesses with a parking space to spare can rent it out through the creative online site ParkatmyHouse.com.
The site was founded by Anthony Eskinazi. It presents a wonderfully simple solution to marry harassed motorists needing to park with homeowners who have a space to rent out. In fact a homeowner could benefit twice by renting out their own space whilst at work and then renting a space close to their work for less than the standard price of parking.
The site can be used to search for a private parking space for the daily commute, close to stations or airports, or for those impossible to park near sporting events. Spaces can be rented by the hour, the day, the week or the month, determined by the person advertising their parking space. Prices are set by the homeowner or business that rents out their space, and popular locations could garner a useful extra income.
Motorists benefit by pre-booking an arranged space which can reduce the stress and costs of driving endlessly around looking for somewhere to park. Motorists thus save on fuel and create less pollution. Private parking spaces can be safer than car parks and help to remove cars from public streets which are already clogged with vehicles. They can provide an excellent way to avoid the traffic wardens that patrol.
ParkatmyHouse.com. provides a convenient advertising arena to match would be parkers with parking spaces, and charges a flat 15 per cent of the total amount received for the parking space. Motorists pay the parking space owners directly through such methods as cash on arrival, cheque, or PayPal. Businesses are also allowed to rent out their additional space.
The website says that the average weekly yield for renting out a parking space is around £30, but some who live in very popular areas can make over £3000 additional income a year. It cites the most popular parking spaces as being close to Wembley Stadium, Twickenham Station, Heathrow, Stansted and Luton Airports, amongst others.
Those who can offer parking spaces close to city centres can also profit from the exchange, as well as those in areas of limited parking such as close to hospitals.
Anyone looking for an innovative way to create an extra income by cashing in on an under utilized asset can benefit by renting out their parking space or garage. It could even give homeowners an additional boost when it comes to selling their property if they can offer it for sale with an already established parking space income representing an additional source of income.