Make money renting out your parking spaces

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Licensees can make up to £5,000 a year by renting out spaces in their car parks that often sit empty during the day.

Pubs and bars near railway stations or close to town centres are likely to earn more, according to spacehopper – a new service connecting under used business spaces with drivers looking for a place to park.

Basingstoke-based Morgan O’Kennedy is landlord of The Great Western Hotel and Pub and has regularly been renting out his car park for six months. He earns over £200 a month, which he reinvests in his business.

Morgan said: “This is a no brainer for me. A lot of my spaces sit empty at certain times of the week so I thought why not make some extra money? I’m close to the station so we’re the perfect spot for commuters travelling up to London and elsewhere.

“I’d encourage any landlord with spaces to think about it. The more spots you have the more money you can make. There seems no reason not to use spacehopper. It was simple to sign up and the money just comes in without me having to do anything.”

Morgan currently has six spaces available on spacehopper and, on a daily basis, has four regular parkers. The pub is located opposite Basingstoke station – so is the perfect spot for busy commuters and shoppers. For more information visit www.spacehopper.com

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