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Christine Pearl earns between £30 and £50 by renting out her parking space in Cambridge through the YorkParkingSpace website. She has been on the site since 2018 and the extra income is now going towards her business.
She said: “A friend of mine told me about it – it seemed like a simple idea with very little effort involved.
“My main aim was to make some extra money as I was doing small part-time administration jobs being paid hourly, so the idea of making a small income but not actually having to do anything seemed like a lightbulb moment.
“Every time a car parked I felt like I had won a prize. I couldn’t help thinking about the dull admin task I had just undertaken in the same hour and all I had to do was look at a car in front of my house for the same amount of money.”
She says any bit of income helps towards her business selling vintage online. The entrepreneur commented: “A few hundred pounds from renting my parking space means I can buy lots of items at auction which generates so much more income.
“The city I live in has very expensive parking or offers residential parking only. My space is a 20 minute walk to the top of the city centre but people still choose to park to be close to other amenities, such as visiting the university for conferences as well as courses.
“If the university advertises conferences or events, this usually helps increase my bookings as well as summer parking when people come to visit the city too.”
She made several hundred pounds in 2022 but she says the cash is a welcome “bonus” as she is usually paid by the hour.
She said: “I would recommend renting out your space as there is no need to have a big driveway, just one parking space.
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“You can monetise an empty space for minimal effort – why wouldn’t you do it? Make sure you assess the space you actually have, and make sure it’s clear and easy for someone to park in.
“Don’t dismiss it if you are not near a town centre – people always need parking to go to concerts, schools, universities, hospitals, meetings, transport links and many more! Use this to your advantage – think local amenities not just central.”
Britons are increasingly looking to take up side hustles as the cost of living continues to increase going into 2023.
James McHutchison, from Kent, also found a simple way to earn £1,000 a month, by selling unwanted items on eBay.
He got out some bits from his garage and some items he had recently received that he didn’t want, and decided to sell them online.
Items he has sold include car parts and gym equipment as he has unearthed the hidden value of his possessions.
He said: “Times are tough at the moment, so whether you’re making £1 or £100, every little helps and can help you on your way to paying your bills or going on your dream holiday.
“Plus, you never know just how much an object may end up making. For me, selling on eBay is a no brainer.
“It’s a win-win situation as you can make a bit of extra cash and also free up some space around your house.”
Some unexpectedly large sales he made include a Swiss watch rubber strap he sold for £83 and a model Bentley car for £72.
A person who doesn’t use their car every day may also want to consider renting it out to earn some extra cash, through apps such as Turo, Hiyacar, Karshare and Getaround.
According to Which.co.uk, Britons may be able to earn an extra £400 a month by hiring out their vehicle.
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