26th February 2009
Thousands of pounds can be made by property investors in certain locations annually from just renting out their parking spaces, the Homeowners Advice Centre has stated.

Renting out such empty parking spaces in prime locations such as those in most city centres where parking is at a premium is one way of generating income, the organisation stated.

"Often those homeowners who have properties near major sporting or exhibition centres, such as Headingley or Manchester City FC, would benefit the most," said Al Elliott, the owner of the centre.

"However even once-in-a-lifetime events like the London Olympics will provide opportunities for short-term cash for those owners lucky enough to be within the right area."

Recent research from YourParkingSpace revealed property investors in London can make up to £3,632 annually from renting their driveways with those in Liverpool able to raise £1,749.

Leeds, Cardiff and Manchester followed with £1,540, £1,470 and £1,466 respectively, while those in Nottingham can make up to £1,455.



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