How to Rent Out Your Parking Space in Manchester

Your Parking Space is one of the peer to peer parking platforms operating in Manchester, and the one I’ve been using to rent out my space. Everything from setting up your profile to managing it is super simple; uploading your details and photos of the space, updating availability, and messaging prospective renters.

The whole process takes less than 10 minutes. You just need to take some decent photos of the space and gather all the info; dimensions, any height restrictions, etc. As you might expect, the online platform also has an app to go with it, which makes it even more convenient to use.

My Experience Using Your Parking Space

As you can see above, everything about the site is straightforward and you’ll be up and running in no time. But what happens when problems emerge?

Well, here are the current rules: the new renter (or tenant) of your space pays a deposit and has 48 hours to change their mind. So if they booked quickly and then saw the space and realised it’s a little far, or a bit small for them, they can opt out. Or maybe it’s perfect for them, but on the first day there was a problem with the code to your building, or someone stole their spot. You never know.

However, once the 48 hours pass, they need to give 30 days notice to cancel an ongoing rental agreement. So as the owner of the space, that gives you some peace of mind. If they opt out, you have 30 days to find someone else. In my experience in city centre, you can find someone within hours!

So, has it all been rosy with Your Parking Space? Not quite. While their online services are flawless, you can’t reach them by phone. If something is urgent, that can be a serious inconvenience. In the few times I needed to reach them (about 3 times in 7 years), they responded to my message the same day, or next morning.

Pricing and Commissions

Your Parking Space takes 20% commission of what the driver pay. The way they frame it is this: you get 100% of the rental income you ask for, and we charge the driver 20% on top of that. So when you set up the account, you need to take into account the driver’s perspective, where they’re being charged an additional 20% commission.

If that seems likes a lot to you, just consider the following: complete peace of mind, deposit safely in 3rd party’s hands, monthly payments are always on time, and if anything goes wrong it’s on them to sort out. Not to mention finding the tenant to begin with, which would be virtually impossible without their platform.

However, they recently introduced an additional 3% processing fee, so you now get 97% of the income you set out to receive. Whether you decide to up your price is your choice, of course. Either way, it’s a good reminder that prices and fee structures are dynamic, so you should always stay on top of things.

Competition in Manchester

There are a few competitors in the space like ParkLet and ParkVia, with the biggest one being JustPark. I personally don’t have any experience with the others, as I was happy with Your Parking Space for years. They all seem to be charging roughly the same, and the platforms are very similar. So if I were you, I’d start with one and see how it goes. And if you enjoy setting up accounts and play the market, by all means set up a few and see where you get the best deal.

Visit Your Parking Space