Cash In on Parking: How to Rent Out Your Driveway or Parking Space for Extra Income
If you’re sitting on unused space — your driveway, garage, or even a paved lot — you might be overlooking one of the easiest passive income streams available today.
That’s right: you can actually get paid to let other people park on your property.
With urban congestion rising, event venues attracting traffic, and long-term commuters avoiding steep parking fees, parking space rental has become a surprising money-maker for everyday homeowners, landlords, and even renters.
Let’s break down exactly how you can get started, what to charge, and what you’ll need to make it a smooth, hands-off side hustle.
🚗 Why Renting Out a Parking Space Is a Hidden Gem Side Hustle
Most people associate passive income with things like investing or online businesses — but real-world opportunities like this one often get overlooked.
Here’s why renting out your parking space is such a great low-effort income stream:
✅ No Inventory
You’re not selling a product, and you don’t need to manage customers daily.
✅ No Special Skills
If you have a place to park and can use a calendar or an app, you’re in business.
✅ Recurring Income
People often rent monthly, for events, or long-term — meaning you earn regularly.
✅ High Demand in the Right Areas
If you’re near a stadium, university, airport, office, or downtown area, demand can be huge.
💼 Who Can Do This?
You don’t need to own a huge piece of land to start earning.
This Works For:
- Homeowners with driveways or garages
- Apartment dwellers with assigned spaces
- Small business owners with private lots
- People near train stations, event venues, or urban centers
Yes — even renters can legally sublet their space (with landlord permission), turning a free amenity into monthly income.
💰 How Much Can You Make?
Earnings depend on location, availability, and whether it’s short- or long-term.
Average Monthly Rates:
| Location Type | Monthly Rate Estimate |
|---|---|
| Urban Downtown Area | $100 – $500/month |
| Near Stadiums/Venues | $20 – $100/day (event-based) |
| Suburbs (Near Transit) | $75 – $200/month |
| Near Airports | $10 – $25/day |
Example:
Jason from Chicago rents his two-car driveway near a train station for $175/month per spot. That’s $4,200/year for space he doesn’t even use!
🧭 How to Start Renting Out Your Parking Space
Here’s the step-by-step breakdown:
1. Evaluate Your Spot
- Is it private or shared?
- Easily accessible?
- Safe, well-lit, and visible?
- Paved or level ground?
If the answer to most of these is “yes,” you’re good to go.
2. Research the Local Demand
Search platforms for your zip code and see what others charge. Compare locations, amenities (security, covered/uncovered), and availability.
3. Set Your Price
Consider:
- Location and foot/car traffic
- Event proximity (concerts, sports, universities)
- Covered vs uncovered space
- Overnight or 24/7 access
You can charge daily, weekly, or monthly. Many renters prefer monthly recurring bookings, which makes your life easier.
4. Decide Your Booking Method
You can:
- Rent privately (Craigslist, local ads)
- Use peer-to-peer apps and services (which handle payment and scheduling)
- Build a simple landing page or listing site
Platforms That Let You List Parking
1. Spacer
This is one of the biggest platforms in the U.S. and Australia for renting driveways, garages, and even storage.
- You set the availability
- You earn passive income monthly
- Can be short-term or long-term
2. Neighbor
Known for peer-to-peer storage, but people also use it to rent covered parking.
- You set your own price
- Payments are automated
- Insurance protection available
3. Parklee, SpotHero, JustPark
These apps help people find parking during big events or daily commutes.
🧰 Must-Have Gear to Make It Smooth
To protect your property and keep everything streamlined, here are some useful tools:
✅ Motion-Activated Outdoor Security Camera
Keep an eye on who’s coming and going — especially if you rent long-term or allow 24/7 access.
🛒 Recommended product: A smart outdoor cam with night vision and app alerts.
✅ Weatherproof Parking Signage Kit
Let renters know where to park with “Reserved Spot” or “Guest Parking” signs — helps prevent confusion.
🛒 Recommended product: Reusable magnetic or stake signs with reflective lettering.
✅ Smart Lock or Access Code Pad (for Gated/Indoor Spaces)
If you’re renting a garage, gate-access lot, or secure building spot, automate access with a keypad.
🛒 Recommended product: A Wi-Fi-enabled smart lock with guest codes and timed access.
🛡️ Legal Considerations (Don’t Skip This)
Depending on where you live, there may be local ordinances or HOA rules that restrict short-term space rentals.
Checklist:
- Check your city’s zoning regulations
- Get landlord/HOA approval if required
- Confirm insurance coverage (some P2P apps include this)
For long-term rentals, consider a simple agreement in writing — stating renter responsibilities, hours of use, payment, and liability.
📈 Tips to Maximize Your Earnings
Here are some smart ways to increase your visibility and fill your space faster:
- Take good photos – Show a clean, well-lit space
- Mention landmarks – “2 blocks from Metro” or “Walking distance to stadium”
- Include extras – “Covered”, “EV charging available”, “Security camera monitored”
- List in multiple places – Double your exposure without extra effort
- Be responsive – Answer inquiries quickly to lock in bookings
🧠 Bonus: Stack Your Hustles
Want to get even more value from your parking space?
Here are creative ideas:
- Rent during the day to a commuter, and at night to a resident
- Install a storage box and offer add-on locker rental
- Offer short-term charging access for EVs
- Partner with local Airbnbs who lack guest parking
❓ FAQ: Renting Out Your Parking Space
Can I rent out my space if I’m a renter?
Yes — as long as you get permission from your landlord. Many apartments offer assigned parking you can sublet.
What happens if someone overstays or causes damage?
If you’re using a platform, they usually handle this. For private rentals, a written agreement and security camera help avoid issues.
Do I need insurance?
Most homeowners are already covered for liability, but it’s smart to verify your policy. Some peer-to-peer platforms offer insurance built-in.
Can I write this off on my taxes?
Yes, it’s considered income. You can also deduct related expenses like signage, cameras, and part of your home insurance.
📢 Final Thoughts: Easy Passive Income That’s Literally in Your Driveway
You don’t need to start a business, build a product, or learn to code.
You just need a spot — and a plan.
Renting out your parking space is one of the most low-maintenance ways to earn income from your everyday environment. Whether it’s your primary hustle or just extra coffee money, it adds up fast over time.
💼 Take Action Now:
✅ Walk outside and snap 2–3 clear photos of your parking space
✅ Research what similar spots in your city are charging
✅ Post a free listing and test the waters this week
Let your driveway start working for you.
🚀 Want More Passive Income Ideas?
Join me over at Wealthy Affiliate — the platform that helped me turn simple online ideas into full-fledged income streams. Learn how to launch a site, blog, or digital offer the smart way.
Larry Mac
Hi there, and thanks for stopping by! My name is Larry, and I’m the voice behind 6fig.com. I search the Internet to try and find Money making opportunities to share.. Thanks for stopping by, feel free to subscribe and comment. Thank You!
You Got This, I Learned these skills and more at Wealthy Affiliate. Hey, if this 65-year-old Grandfather can make money online, you can too!
