Unused driveways, garages are prime rental real estate

MELBOURNE'S parking crush has sparked a small-scale boom as unused driveways and garages become prime rental real estate.

Car-free pensioners, bike-riding students and tram-travelling city professionals renting unneeded parking spots are driving the surge.

Well-positioned, inner-city spots are bringing in close to $100 a week, while parking in the suburbs near public transport fetches more like $10 a day.

Findacarpark's managing director Francis Armstrong said business was booming.

"The number of people listing is growing at 30 per cent a year," he said.

"A lot of them would be pensioners or students who don't have a car and just rent it out.

"There are young people who live near the city and ride their bikes."

Mr Armstrong said some rented their driveways or garages out from 9am-5pm on weekdays only, when their own car wasn't there.

Others list unused corporate parking spaces.

"The highest we've seen was in William St (city), $935 a month," he said.

The findacarpark website receives about 5000 searches a day nationally, more in Melbourne than other capitals.

"The issue with us is supply. The good (spots) get snapped up very quickly," he said.

City-based information technology entrepreneur Craig Lambie, whose parking space off Little Bourke St is for rent, has cashed in on the spot for five years.

"I personally think you'd be crazy to drive into the city, but if they're crazy enough, I'm happy to take their money," he said.

Mr Lambie charges $250 a month for weekday use of his secure basement spot.

Findacarpark charges a $30 listing fee and lets sellers and buyers sort out details.

A newer rival, ParkHire, charges 15 per cent of the rental but processes the deal so a driveway owner doesn't have to meet clients or have "grubby" cash dealings.

Founder Dianne Greville got the idea from a friend in Britain who used to make enough renting our her driveway to pay for annual family holidays.

"There's a cashflow from an empty driveway or garage while you're at work," she said.

"In many cases you don't ever need to see the person."