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Glasgow Live
Glasgow Live
National
Sophie Buchan

Glasgow man makes extra £80 by renting out empty West End parking space

As the cost of living crisis continues, you may be looking for ways to bank so extra cash to help with rising bills.

Whether it's setting up your own small business on Esty making clothes, jewellery or prints, or simply downloading an app to conduct surveys and making money from them, the opportunities are endless.

Another way to earn a wee bit extra is by renting out your spare parking space. Why leave it sitting empty when you could be making money from it, right?

READ MORE: Marks and Spencer to open Glasgow Queen Street store as new shop teased with signage

One Glasgow man who has been been cashing in on his spare space during the last few years spoke to Glasgow Live to share his experience.

Martin Petrov who lives in the west end has been renting his parking space out for the last four years. The 31-year-old freelancer who runs a film festival in the city said he uses Your Parking Space to list its availability.

Recalling how he first decided to make money from his empty space he said: "I used the platform Your Parking Space to park a vehicle when we were once on a trip. I just noticed that they were advertising that people could list their own space if they were not using it and advertise it for rent.

"At the time I did have a space that came with the property which was empty so I thought it could be a good opportunity basically just to make some extra money."

When it comes to finding a decent parking space in Glasgow, or any city, it can be a tricky situation with many of us knowing the feeling all too well of endless driving around to hunt for a spot or trying to fit into a tight space just so we don't have to walk miles.

This is something that Martin himself has been through - and one of the reasons he thought people could benefit from his unused parking space. He explained: "I know how difficult it is in the west end for a lot of people to park so I thought well I'll just put it out there and if someone likes it, great. Actually since then it's pretty much been full all the time because street parking is madness as you can imagine."

People are able to book parking spaces on the website for as long as they need with times and pricing varying depending on which space you're renting and it's location. Martin is said to be more familiar with people who are renting long term with one person even renting out his parking space for a whole year.

Making around £80 a month just by renting out his space, which would otherwise be sitting empty, he explained that the area is secure with it being private and fenced off with a barrier installed.

Detailing the process of what people have to do Martin explains: "So people can book it either for a certain amount of time or on a monthly basis. To be honest most of the time it's been on a rolling monthly basis. I guess it's easier for me rather than having to deal with a lot of different people and cars coming in and out.

People can rent out their empty parking space to make some extra cash. (Getty 2023.)

"We would send them instructions once they book the space as they get an automated e-mail. It's a pretty straight-forward process and I guess the rules are pretty much the same for all parking spaces like being respectful of other neighbours and of their property as there are residents who have their own cars and who use their own space so just to be mindful of that."

Talking about the need for long term rentals as well as the people who chose his space for longer periods of time, Martin has said it could be because he is "lucky" or it could be down to the parking situation in Glasgow.

"Potentially people have been looking for something that they can secure for a longer period of time but the majority of bookings were for a month at a time. I think I've had one person park for over a year" Martin said.

He continued: "The people who rented for over a year were residents of the area and they wanted to know that they had a designated parking spot. You can get a parking permit but sometimes there is no guaranteed space so you have to drive all around the west end, on in your designated area, to try and find a spot on the street which can be quite frustrating.

"Someone coming back from work at 8pm doesn't want to drive around and leave their car 15 or so minutes away from their flat.

"So I guess from that point of view, it's very convenient for people who know that they have their space to park and then they go home - and the same in the morning."

Martin has said that he will keep renting out his space as it's a "straight--forward and easy" process. And in an added benefit, "I don't really have to do much about it. The only thing I potentially have to do is give them a card and collect it after."

He added: "I guess there is a lot of demand rather than supply. If someone cancels, then usually within a couple of days I would have a new one do it's definitely in demand."

"The parking is very limited and street parking is very difficult - you don't want to park a long distance in the rain or leaving work 30 mins early to get to your car. So, I think that's what motivates most people to get something private."

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