A London man is earning over £2,000 a year by renting out his driveway to strangers, while leaving his own car on the street. Satyan Dharamshi, 51, an insurance account executive from Newham, East London, started renting his space in December 2023 to supplement his income.
Newham is a prime location for venues like The O2 and ExCel London, and is well-situated for trips into central London. However, all street parking is permit-only, limiting options for visitors. Satyan purchased a reduced-price residents' parking permit for just £30 a year, thanks to his electric car, and began renting out his driveway for £10 a day.
He now earns up to £200 a month from the venture, recouping the permit cost in just three days, and has netted over £4,300 in the past two years. Satyan uses the extra cash to help with his monthly mortgage payments. 'There's demand all year round,' he said. 'The customer base includes working and commuting people, traders, and those attending events.'
Satyan listed the spot on YourParkingSpace two years ago and quickly realised demand was high, with up to 20 bookings a month. 'I know it's in demand and a hotspot, and I don't really drive that much anyway, I normally cycle,' he said. 'I don't need to meet or interact with the people, they just come and go.'
He added that nothing bad has ever happened and that his regulars include traders, event-goers, and people involved in housing projects. 'It's good for them too—they get a convenient place to park close by, so they can come back to get their lunch,' he said.
