With the current cost of living crisis, everyone is looking for hacks to save money or even earn extra sources of income.
However, with just a few tweaks to your driveway, you could actually make money during this frugal financial climate, reducing the strain on your bank account. That’s right, we’re talking about renting your driveway out as a private parking space.
Unsure about the profitability of driveway rentals? Well, we’ve reviewed the listed prices of private parking on Parkopedia across 50 UK locations to find out exactly how much money you could make from your driveway.
Continue reading, below, for more details on our research.
How much money can I make from my driveway?
From our research, we found that you can make an average of £3.17 per hour from renting out your driveway in the UK.
Now, this might not seem like a lot of money taken on its own. However, if you were to rent out your driveway for just one hour on each day of the week, you’re looking at pocketing £22.19 a week. For one hour on each day of the month, that rises to £95.10, just for letting other drivers park on your driveway.
Of course, some locations will be more in demand than others. A driveway in London, for example, is likely to attract more interest at higher rates than a driveway in a smaller town.. However, there’s money making potential to be nurtured across the entire country.
Where can I make the most money from my driveway?
Whether nearby public parking is limited or the local area is teeming with popular points of interest, certain locations in the UK are better placed to turn a profit from their driveway.
Perhaps unsurprisingly, Greater London was the most profitable location for private driveways. Our research looked at the average prices for renting out a driveway in Lambeth, Hackney, Hammersmith and Fulham, Islington, and Kensington and Chelsea, to find Londoners can make £5.99 per hour, on average.
Driveways in the South East and Scotland can also earn above the national average, with residents in these regions charging £3.64 and £3.41 per hour, respectively. This will certainly be good news for those living in the likes of Edinburgh, Oxford, Glasgow, and Brighton!
In terms of which individual location leads the way for profitable driveways, Kensington and Chelsea offers the highest money making potential. This borough in West London typically charges £8.86 per hour, which is a whopping 179% more than the national average.
It’s also interesting to see how potential prices differ across the capital. For example, Kensington and Chelsea driveways can charge almost twice as much as Hackney driveways, even though both are in London.
Outside of London, Brighton residents can pull in the profit, charging an average of £7.30 per hour for driveway rentals. Oxford, Edinburgh, Cambridge, and Leeds driveways all charge more than £4 on average, too.
How can I make the most money possible from my driveway?
While you may already be counting out the potential pounds in your head, you need to ensure your driveway is at its sparkling best. Continue reading, below, to find out the best driveway maintenance tips.
1. Remove any weeds or vegetation
Yes, we know how finnicky and frustrating de-weeding can be, but you’ll struggle to entice any customers with a driveway covered in overgrown vegetation.
If you want to make this chore easier, wait until after it rains to start removing weeds. The roots between the blocks will be much more malleable and easier to pull out. You can also pour boiling water in the cracks between your driveway to kill the weeds at their root.
For more information about keeping your driveway free of vegetation, read our guide on how to stop weeds growing between paving slabs.
2. Clean the blocks regularly
Good driveway maintenance is all about making your slabs shine. You want to be able to wipe the muck and grime away from your driveway, making it much more attractive for private parking.
Fortunately, you just need washing-up liquid, warm water, a hard-bristled brush, and a healthy helping of elbow grease to get the job done. For tougher stains, such as oil spills, you will need a more specialist solution, scrubbing the affected area with paving degreaser.
If you want to find out more about how best to scrub a driveway, read our blog on how to clean block paving.
3. Seal the pavers
If you don’t fancy tackling tough stains every other week, then we recommend adding sealant to your driveway.
This chemical coat helps to protect pavers against dirt and grime, as well as making spills easier to wipe away. Sealing your block paving also inhibits the growth of weeds and vegetation on your driveway, while also deterring any insects from burrowing between the gaps.
However, if you already have a porcelain paving driveway, then you do not need to add any sealant. This hard-wearing paver is naturally stain-resistant, water-resistant, and scratch resistant, making it the ideal choice for a low maintenance driveway!
4. Replace any broken or cracked blocks
While it can be tempting to dismiss a single crack or broken block as just a slight blemish, these pavers actually affect the structural integrity of your entire driveway. That’s why it’s important to replace these damaged blocks as soon as you notice them.
Don’t worry, replacing these individual blocks is not as time-consuming or challenging as you may think. It’s just a case of digging out the damaged block and finding a suitable replacement. To find out more details on replacing faulty pavers, read our blog post on how to fix loose paving slabs.
5. Add edging to your driveway
If you’re a bit worried about how the parking ability of other drivers might damage the front of your home, install driveway edging. These small borders subtly guide parkers into position without encroaching on any flower beds or lawns next to the driveway.
Edging also adds a decorative accent to the front of your home, helping to elevate the look of your driveway. Co-ordinate with the colour of your blocks or contrast with completely different styles, it’s entirely up to you!
If you feel like your current driveway is not up to standards, then consider replacing it with a fresh new look. Browse our completely collection of block paving to find the perfect pavers for the front of your home.