Make Easy Cash Renting a Parking Space

Reading Time: 4 mins

You’ve got an empty driveway or garage. You need extra cash. Put the two together and: voila! Rent a parking space. It’s a really easy way to make money – and now’s the time to cash in as the summer looms.

 

Why Renting Out Parking is Ideal

Make cash from your parking space

Making money from your parking space isn’t a new concept. It is, however, going to be far more in demand this year than ever before. So, that’s why it’s a good time to jump on and start earning cash!

More people than ever plan to spend their summer in the UK this year. Booking international travel has become a no-go for the near future – while it looks like the national lockdown will be lifted in time for summer holidays at home. On top of that, many will want to drive to their UK holiday destination – so they don’t need to use public transport and risk being in close quarters with lots of people for extended periods of time.

That means you can make the most of these driving holidays! Your parking space is the perfect offering for those looking for somewhere to pop their vehicle safely for a few days (or longer) while they holiday in your area.

Longer term rental options

Of course, if you live in a prime location, such as near a hospital, you can make the most of renting your parking space the whole year round, too. You can either make money from a regular commuter who wants to park near to their workplace – or from those regularly visiting the area (have you SEEN hospital car park prices?!).

 

Who Can Do It

As long as you have a parking space that’s not in use, you can rent it out. If you have a designated parking space in a residential car park, or a driveway, you can make cash from that space.

The more space you have, the more cash you can make! For example, if your drive fits two cars comfortably (without blocking one in), that’s double potential income.

You don’t even need to be a people-person or present at the time of parking! It just takes a little bit of communication to set up the parking agreement, then it’s money in your pocket. No business experience required!

If you want to rent a parking space on your property, it’s worth checking your home insurance policy first to make sure doing so won’t invalidate your insurance.

What type of parking space rents out well?

Anyone with a parking space can offer it for rent. The places that will see regular customers – especially during the summer holidays this year, are likely to be:

  • Coastal towns
  • Historical towns and cities (particularly those with pedestrianised city centres and only out-of-town parking options!)
  • Areas near popular holiday sites or tourist attractions
  • Parking spaces near train stations (you could score a regular customer with this one!).

If you’ve got more space than most, you could even attract overnight parking for motorhomes and campervans!

 

Finding Trusted Customers

Some people rely on putting a notice in their local newsagent, on a Facebook group or the NextDoor app. This is fine, but you could find you’re out of pocket. For example, someone might refuse to pay up after using your space. You’re also unlikely to guarantee a regular income going this route.

With so many out-of-towners expected in busy tourist areas like the coast and historical cities in the UK this summer, posting local notices won’t attract a regular customer base, either!

The best way to make sure you’re advertising your space, getting reliable customers, and (most importantly) getting paid, is to go through a hosting service.

 

How EasyParking Works

The easyParking app hooks up parking spaces with those who need them! As a host, it’s really easy to use. You register with easyParking and include your payment details via Stripe.

Then, your space is listed on the app. When someone wants to park in your area, they can select your space – and they pay upfront. That means you get guaranteed payment for every parking booking. It also helps you manage parking bookings – avoiding calamities like double-booking.

Using a hosting service like this connects you to the customers you’re looking for – without requiring lots of legwork on your side. Once your space is on the app, it’s there for anyone looking for parking in your area to see! The booking process is easy for parking customers, and hosts (that’s you!) get paid straight away, so there’s no quibble over money.

What does it cost? A tiny 10% of your booking. When you consider how much it costs (let alone the time and effort, too!) to regularly find customers on your own, it’s well worth the fee!

The renters

The benefit of the easyParking app for renters (and therefore for you as a host) is they can search for your space whilst they’re on the move – perhaps even on the journey to the area they want to park in itself!

All they have to do is search for parking, book with a few easy clicks, and then park up. Couldn’t be easier.

You can download the app on the App Store here, or on Google Play here.

 

More Ways to Make Money from Your Home

Want more ideas for making money from home (or with it)? Try these next!

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Earn Money as a Virtual Santa

Reading Time: 4 mins

This year’s been a tough one – but you can still make money before it finishes! With most Santa’s Grottos closed this year, you can snap up the opportunity to make money as a virtual Santa, instead. Here’s how to earn cash in the next few weeks!

  1. What Is a Virtual Santa?
  2. What You Need to Be a Virtual Santa
  3. How to Market Your Service
  4. Getting Paid
  5. More Ways to Make Money

What Is a Virtual Santa?

Being a virtual Santa could nab extra cash in time for Christmas

Virtual Santa does the same job as an in-real-life one – except on Zoom! Lots of families will miss out on visiting Santa’s Grotto experiences this year, but still want to entertain their children. That’s where Virtual Santa comes in.

You’ll host a unique video call with the family to talk to their children and give them a special message from Santa. You can choose how long you want each call to be, and set your rate accordingly. Some Virtual Santas have set up entire grottos in their homes, garages, or office spaces to really add to the experience, too!

What You Need to Be a Virtual Santa

This is a no-experience-necessary type of job. However, if you have any experience as an actor, or previously as an in-person Santa, that could really help!

You need to:

  • Be confident talking to strangers
  • Have a great knack for communicating with young children
  • Be able to stay in character for the whole video call

As for the equipment you need, it’s very simple! The basics you need to become a virtual Santa include:

  1. A Santa suit!
  2. Reliable internet connection
  3. Decorations for your background
  4. A high-quality webcam and microphone
  5. Access to reliable video call software like Zoom
  6. A diary like Calendly so people can book their call slot.

If you want to go all out, consider roping in a friend to play the part of Santa’s Elf, too!

When you’re taking bookings, it’s a good idea to ask the children’s names on the booking form. This way, you can greet your customers by name as soon as the call starts – which is a great way to play into the “Santa knows everything” ploy!

Finally, if you want to look professional and encourage more sign-ups, consider creating a website using a service such as Wix or WordPress.

Tax and Being Santa

Even Santa pays his taxes! If you’ve not earned anything else through self-employment this year, you may not need to register with HMRC as self-employed. Why? Well, this is a side earner – it’s unlikely to net you over the personal allowance of £1,000 a year that can be made before you must declare it.

However, if you make more than £1,000 – or you have other self-employed activities in this tax year (either completed or coming up before April), you must register as self-employed with HMRC. You might be doing your virtual Santa gig while on furlough or working reduced hours with your day job – you’ll definitely need to let HMRC know about your second income if this is the case. It could impact your tax code.

How to Market Your Virtual Santa Service

The great thing about being a virtual Santa is that you don’t need a fancy website to get started. It does help, though, to have a social media profile or two to get started with your marketing.

There are lots of ways you can tell people about your Santa Service, including:

  1. Post on local Facebook groups
  2. Use the NextDoor app to tell local people about your service
  3. Tell your friends and family
  4. Contact local charities and groups – if you offer some free sessions in return, they will help promote you!
  5. Get in touch with local nurseries and primary schools
  6. You could even find your local parish newsletter for an advert!

It’s also worth getting in touch with colleagues, posting on other social media such as Twitter, and you could even make a TikTok video!

Getting Paid as Santa

How to get paid as a virtual Santa

The most important thing is to make sure you’re paid for your service. With something like a Virtual Santa job, the amount you’re charging is relatively small. For a ten-minute call, most people would be willing to pay around £5-£10 depending on what you’re offering in the call. If, for example, you and your Elf will sing a Christmas song to entertain your young customers, you could charge at the upper end of this range.

As it’s not a lot of money in each transaction, get payment up front before the call. Once someone is booked into your calendar, send them a Paypal link or your payment details. Make sure you keep a spreadsheet of your bookings, payments, and amount earned. You’ll need this information to report to HMRC for tax purposes!

Getting payment in advance helps guarantee commitment from your customers. They’re more likely to actually turn up to the call if they’ve already handed money over! However, as you know you’re dealing with families with young children, do understand if your customer doesn’t join the call when they’re supposed to. If they apologise with a legitimate reason – including toddler tantrums causing delays! – try to reschedule if you can. Those who simply don’t turn up… well, that’s their loss!

More Ways to Earn Money This Christmas

There are plenty of ways you can earn money from home this Christmas, from passive income streams to tutoring online. Try these articles for inspiration:

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