Question: I have a driveway where it is possible to park four cars without anyone being blocked in. Several times throughout the year there are big sporting events going on in my area and it's a busy shopping area all the time, so I would like to rent two or three of the parking spaces to make some extra money. Is that a problem?
Answer: Earning extra money in this way has become very popular and there are several companies who advertise car parking spaces to rent on behalf of home owners. On the face of it, parking on private driveways can reduce the number of cars parked on highways and makes parking cheaper for commuters. However, it does mean that fewer people pay for on-street parking or car parks, which affects the revenue of a local authority.
If you rent out your driveway "for consideration" - in other words, you charge people money to park there - then your driveway becomes an income generating asset and so a business use. This change of use is likely to require planning consent and so it is essential to discuss the proposal with your local authority.
In addition, you must look at the title deeds to your property as there may be a restrictive covenant prohibiting the use of your property for business purposes. Look at new guidance on renting driveways and planning permission being published by the Department for Communities and Local Government. Finally, remember to declare any income on your tax return.
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These answers can only be a very brief commentary on the issues raised and should not be relied on as legal advice. No liability is accepted for such reliance. If you have similar issues, you should obtain advice from a solicitor.