An article in Brisbane’s biggest newspaper, the Courier Mail has highlighted what SpaceOut members have known for some time – that renting out a parking space can be a great little money earner. The story – Demand for inner-city carparks creates property boom as unused bays become prime rentals, by Robyn Ironside states :
Students and ferry-riding professionals are renting out unneeded parking spots for up to $550 a month.
Money Out of Thin Air
Brisbane has long been a hot spot for SpaceOut members and ordinary Australians with unused space in their home or business are making good money by renting it out for storage, office use as well as parking – and are literally making money out of thin air.
In Brisbane (and many other Australian capital cities), demand for inner-city carpark in space has created a mini property boom as spare parking bays in city highrises and apartment blocks become prime rental spaces.
The average cost of renting a park in Brisbane now stands at $435 a month – or $43.50 a square metre – after growing 30 per cent a year since 2005.
One great advantage of renting your own parking space is that you get 24×7 access and can come and go as you please. Although more than $400 a month may seem light a lot to pay for parking, it is actually a bargain when compared to casual parking rates which are charged every time come or go.
Last year SpaceOut Highlighted in our City drive-in robbery – Brisbane carpark costs soar post that Brisbane drivers wishing to park in the city were paying on average $45 a day (that’s over $200 a week), and the rates have continued to rise…. currently Brisbane casual parking can cost up to $70 a day.
Collaborative Consumption
Renting out your unused parking space – or a spare bedroom for storage – or an unused corner or room at your workplace is a great example of the increasingly popular collaborative consumption movement, where people “share” resources. For the space owner, it is a great way to earn some extra income, and for the space renter it is a great way to find a rental space that is cheap and convenient, and to save money on commercial rental rates.
SpaceOut provides a service which makes it easy for people with spare or unused space, to list and rent it out to those who need the space.
